Category: Commercial Insurance

Commercial Insurance Outlook for Business Owners in 2024

As a business owner, you undoubtedly wish to protect your commercial assets. Our team at Atkinson Casey Agency, located in Monroe, GA, is eager to assist you with your commercial insurance requirements. To envision what 2024 will bring, reviewing the recurring trend of premium price increments witnessed in 2023 is crucial.

Impact of Weather-Related Damages on Payouts

One of the principal influences on policyholder premiums is related to climate anomalies and natural disasters. Bloomberg Insurance reports that 2023 marked the fourth consecutive year of escalated insurance payouts for weather-related property damage, mandating a rise in policy costs. Escalation in building material costs and construction workers’ wages further inflated these costs. Consequently, businesses might face a shortfall in claims payments, leading to increases in out-of-pocket expenses during attempts to replace damaged property.

The Importance of Accurate Property Value Estimation

Such factors might coax businesses into choosing policy amounts lower than their actual future property value, which could backfire. Under the influence of escalated premium rates, a firm might undervalue the future worth of their property, consequently procuring lesser policy value than needed. In these cases, it is best for businesses to consult their insurance agents, who are well-versed in these trends and can assist in generating realistic estimates for coverage.

Schedule a Consultation Today

Business owners in Monroe, GA, should recognize the need for frequent evaluations of their insurance needs in view of these trends. At Atkinson Casey Agency, we’ve been studying patterns like these and are ready to assess your current business status and aid you in contemplating your options. To discuss your commercial insurance needs with our expert team, give us a call today.

Atkinson Casey Agency is proud to serve the commercial insurance needs of the Monroe, GA business community. If you have questions about how to protect your company’s heavy equipment and commercial vehicles, we’re here to help. Give us a call today to schedule a consultation. We’re here to help you meet all of your commercial insurance needs now and in the future.

Protect Your Heavy Equipment and Commercial Vehicles Today

If your company’s assets include heavy equipment and commercial vehicles, it’s important to have adequate coverage for these items. A basic property insurance policy might not be enough coverage for these heavy-duty items. Every business can benefit from sitting down with a local commercial insurance agent to review the policies currently in place and to determine if there are any gaps in protection.

When your business owns or leases expensive assets such as commercial vehicles and heavy machinery, it’s important to confirm that they’re well protected. Commercial vehicles are often the lifeblood of many different types of businesses, and when they’re out of commission, a firm’s bottom line can suffer. The more knowledgeable you are about the available options, the better able you’ll be to choose an appropriate policy. Don’t wait until you suffer a catastrophic event to find out that the commercial policy that your company has in place is inadequate for its needs.

Schedule a Consultation Today

If you own or operate a business in the greater Monroe, GA area, you can turn to the team at the Atkinson Casey Agency for your commercial insurance needs. Contact us today to schedule a consultation to learn more.

Entrepreneurs who have opened businesses in Monroe, GA, and surrounding areas, know that they must protect their operations through commercial insurance. However, many operations need more than one type of coverage. The professionals at Atkinson Casey Agency can advise business owners on what policies they need to protect their companies and employees fully.

Going Beyond General Liability and Workers’ Compensation

General liability and workers’ compensation are essential policies for all business owners. For some small business owners, these two types of commercial insurance suffice. However, keeping records with sensitive client information may require cyber insurance to protect your company from data breaches. If you own a fleet of vans, you may need commercial auto insurance. The list of business insurance types is extensive and can be confusing. You may think an umbrella policy will cover all risks, but chances are, it will not.

Other Types of Insurance to Consider

In addition to data breaches, the most significant types of risks that businesses face are property damage, human capital costs, building projects, and professional service mistakes. Among the types of insurance policies to consider are:

• Product liability

• Risk management

• Professional liability

• Business income

• Commercial property

• Employment practices

• Contractors’ insurance

Many different types of insurance policies exist. In some instances, company owners can bundle different policies to provide comprehensive coverage for whatever risks you may encounter.

Get the Right Coverage for Your Unique Needs

If you need clarification about what types of commercial insurance you need for your business, let the professionals at Atkinson Casey Agency in Monroe, GA help. Contact us today to get started on your commercial coverage. We will give you sound advice on the types of policies and overage levels your business needs.

When you’re running a business, it’s very important to have commercial insurance coverage. It protects your company, your employees, and your customers, too. But you need to be sure you have the type and amount of coverage required for your business, and that can change over time. If you don’t keep your insurance policy updated, that could put you at risk and cause harm to your company if something goes wrong, and you need to make a claim.

If you’re in the Monroe, GA area, Atkinson Casey Agency can help.

Commercial Insurance Coverage

Working with a trusted insurance agent will give you the support you’re looking for when you have questions about your policy or need to make changes. Just like other types of insurance, commercial insurance coverage should be reviewed and updated on a regular basis. As your business grows, your insurance policy needs will grow along with it. You may bring on more employees, open new areas to customers, change locations, or otherwise adjust how your business is run, and your policy needs to reflect that.

If it’s been a while since you first got your commercial insurance policy, or you haven’t reviewed it recently, our insurance professionals want to help. There’s a lot of peace of mind that comes with good insurance, and you don’t want to put your business at risk because your policy wasn’t updated. Instead, let us help you find the right coverage for your current needs.

We Are Here To Help

Reach out to us at the Atkinson Casey Agency if you need commercial insurance coverage in the Monroe, GA area. We know how important it is for you to have quality protection for your business, and will work with you to update your policy in a way that gives your company all the protection it needs.

At Atkinson Casey Agency, we believe that carrying workers’ compensation insurance is of the utmost importance for Monroe, GA area businesses. Workers’ compensation insurance helps protect employers from any liability stemming from an employee’s injury or illness while on the job. It provides coverage for medical bills and lost wages, as well as other costs related to a workplace injury or illness. 

In most cases, employers are required by state law to carry workers’ compensation insurance in order to protect their employees and themselves from financial hardship due to workplace injuries. While there may be some exceptions depending on the state or industry, it’s important for employers to research their state laws and consult with an insurance agent about what type of coverage they need in order to stay compliant with the law. 

Having workers’ compensation insurance is not only important from a legal perspective, but it also helps protect employers from potential lawsuits stemming from workplace injuries. Without adequate protection, even minor injuries can lead to expensive medical bills and costly legal fees. 

If you are an employer looking for information about workers’ compensation insurance, contact your local insurance agent today! We will help you determine what type of coverage you need and will ensure that you remain compliant with your state’s laws. Protect yourself and your employees – invest in quality workers’ compensation insurance today!

Reach Out To Us

If you have any additional questions about workers’ compensation insurance or are interested in getting a policy to protect your employees and your business, please give us at Atkinson Casey Agency a call today. We proudly serve the Monroe, GA area.

A business owner’s policy, or BOP for short, is a bundle of different coverages that protect against common situations that people in charge of corporations tend to encounter. This is done for the convenience of entrepreneurs, though specific types of indemnification can vary. Your Atkinson Casey Agency representative can go over specifics with you. 

What is a BOP or Business Owner’s Policy?

Business property insurance is typically included, and this can cover the inventory that you store in a warehouse, for example or any raw materials you use to create products. A variety of situations can affect these items, such as a fire or an electrical surge. Heavy rains or storms can also damage your property. If you have the equipment, such as an assembly line, your corporation needs it to run smoothly. 

A business owner’s policy is not a requirement for Monroe, GA residents, as only workers’ compensation and commercial auto insurance are mandated by law. A BOP will not extend to these particular areas of your business but will often include a type of indemnification known as business interruption insurance or business income insurance. 

This type of protection can ensure that you continue to receive compensation even when you aren’t able to generate revenue. One scenario this can apply to is when your storefront has to close due to a covered peril, such as when a tree has fallen on your building. This can alleviate the financial pressure of making mortgage payments on your business location, paying taxes, payroll, or expenses related to relocation by supplying you with finance. 

Let Atkinson Casey Agency Help You

We faithfully serve the residents of Monroe, GA with their insurance needs and can tailor a package for your business and all aspects of your life. Give us a call or stop by the office, and we can discuss your situation further. 

Are you a business owner? If so, are you protected from liabilities or standard risks with commercial insurance coverage? While it will not protect a business entirely, business insurance can be a potential lifesaver in some costly situations.

Atkinson Casey Agency, serving Monroe, GA, and surrounding areas throughout Georgia, can explain the different types of commercial insurance and ensure you have specific coverage for the risks your business could encounter.

Business insurance will fall into two categories:

Coverage you are paying to others for money owing them or coverage that will pay you for the interruption, damage, or loss to your business. There are some types of insurance that fall into both categories.

Business or commercial insurance helps cover costs associated with liability claims and property damage. Without this coverage, business owners may be faced with paying out of pocket for expensive legal claims and damages.

Different types of business insurance include:

• Business income insurance
• Business identity insurance
• Commercial auto insurance
• Commercial fleet insurance
• Commercial property insurance
• Commercial umbrella insurance
• Cyber liability insurance
• Employment practices liability insurance
• Errors and omissions insurance
• General liability insurance
• Key person insurance
• Product liability insurance
• Professional liability insurance
• Workers’ compensation insurance

Because the proper business insurance policy can be difficult to find, having a professional who specializes in commercial insurance is key. Atkinson Casey Agency in Monroe, GA can put together the proper coverage as comprehensive or simple as you need it to be.

Contact Us Today

For more information about commercial insurance or other types of insurance, contact the professionals at Atkinson Casey Agency. We will be happy to help you navigate this important insurance coverage.

When buying commercial insurance in Monroe, GA, there is usually the delicate balance of not paying too much or too little. You don’t want to overpay because that will not be the best way to utilize resources. Besides, you don’t want to underpay because this will expose your finances when faced with risks. So, how much commercial insurance is enough for your business? Figuring it on your own can be challenging, and that’s why Atkinson Casey Agency wants to guide you about the amount of insurance sufficient for your needs.

Meet lender requirements first

Have you secured any mortgage for your business premises? Do you have any business loans? What are the lender’s requirements regarding insurance? When buying commercial insurance, ensure that you meet the lender’s requirements. But you shouldn’t stop here — this only acts as a base upon which you build from.

How much liability insurance do I need?

Liability insurance protects your business when accused of bodily injury, property damage, and advertising injury. But how much liability insurance do you need? We generally advise clients to purchase liability coverage of about $500,000. But if you need higher coverage, you need to invest in umbrella insurance.

How much property insurance do I need?

Property insurance protects your building and its contents against risks like fire, theft, and other risks listed in your policy. To ensure you purchase adequate property insurance, take an inventory count of your assets to ensure everything in your possession is insured.

After an inventory count, invest in property insurance that can replace all your assets in the worst-case scenario.

Commercial insurance in Monroe, GA

Still not sure how much commercial insurance you need? Please get in touch with Atkinson Casey Agency for more information. After analyzing your business, we will advise the amount sufficient for your business.