Every state has its own rules about how small businesses operate. Part of those rules is the types of commercial insurance your business must-have. There are two that are required by Nebraska law, but there are also other types that can add to your legal and financial protection. For more information, call us at the Ed Thompson Insurance Agency in Omaha, NE.
Commercial Auto Insurance
When your business owns a vehicle, it’s required for each of these vehicles to be covered by a commercial auto insurance policy. If you try to get by with a personal insurance policy on the vehicle, it will not only be illegal, but the personal policy likely won’t pay out if there is an accident. The commercial policy that you have must have a specific, state-mandated minimum for bodily injury liability for the accident as a whole as well as per person injured. It must also have a specific amount of property damage liability. The policy must also have the legal minimum of coverage for an uninsured motorist protection per accident and person. If you have a vehicle that gets used for business a lot but is not owned by the business, it should have a hired and non-owned coverage policy.
Workers’ Compensation Insurance
Nebraska’s law requires that every business that has any number of employees must have workers’ compensation insurance coverage. This is true, no matter how many employees you have and whether they are part-time or full-time. This coverage helps the workers by having coverage available to pay their medical bills for accidents and sicknesses that occur on the job. It also helps the business by having that coverage in place so that the medical bills don’t have to be paid out of pocket.
Talk to an Insurance Agent
If your business needs commercial insurance, call us at Ed Thompson Insurance Agency in Omaha, NE to talk to an insurance agent about your business and its commercial insurance needs.