In Kentucky, all business owners need to have two types of commercial insurance that are required. In addition, there are many useful types of commercial coverage that are highly beneficial to businesses but not required. If you need commercial insurance to cover your business, call us at Worthington Insurance Group in Kentucky to talk to an agent about your business' insurance needs.
If you have any employees at all, even just one who is part-time, you have to have workers' compensation coverage. This is a good way of protecting your employees as well as your company if an accident or illness should happen to an employee. It pays the medical bills that are due in the event of an employee getting sick or injured while at work. This protects your business from having to pay for these medical bills from out of its own funds.
All vehicles that are owned by a business in Kentucky must have a commercial auto policy. This requires the coverage to include a specific minimum amount for injury liability for one person as well as an amount for injury liability for all injuries in the accident. It also includes a specific minimum amount for property damage liability for the accident as a whole. There is also a small amount required for personal injury coverage. In Kentucky, all of the minimums are relatively low, so many people choose to increase their coverage above the state's minimum amounts.
This type of coverage is not required, but it includes insurance on your property as well as liability insurance for your business. It's a cost-effective way to give your business more insurance protection.
If you need commercial insurance, call us at Worthington Insurance Group in Kentucky to make an appointment to talk with an agent about your company's insurance needs.