{"id":68,"date":"2021-09-30T04:00:00","date_gmt":"2021-09-30T10:00:00","guid":{"rendered":"https:\/\/www.fianm.com\/blog\/?p=68"},"modified":"2021-10-04T20:02:30","modified_gmt":"2021-10-05T02:02:30","slug":"how-much-commercial-insurance-do-i-need","status":"publish","type":"post","link":"https:\/\/www.fianm.com\/blog\/how-much-commercial-insurance-do-i-need\/","title":{"rendered":"How Much Commercial Insurance Do I Need?"},"content":{"rendered":"<p>At Franklin Insurance Agency, we usually get this from our clients after a disaster strikes, &ldquo;I thought I was covered.&rdquo; Unfortunately, about 75% to 90% of business owners are underinsured. And this means one thing &mdash; you will have to incur unexpected out-of-pocket expenses when disasters knock on your doors.<\/p>\n<p>So, how much commercial insurance do you need for your Rio Rancho, NM business? Well, keep reading to know the amount of commercial insurance you should purchase.<\/p>\n<p><strong>Business insurance coverages<\/strong><\/p>\n<p>Before determining the amount of business insurance you require, it&rsquo;s essential to look at the different types of coverages available for businesses. Here are common business insurance coverages:<\/p>\n<ul>\n<li>Business liability coverage:&nbsp;This covers your business against liabilities, including property damage, advertising, and bodily injury.<\/li>\n<li>Commercial property insurance:&nbsp;It protects your business premises and other assets against risks like fire, vandalism, and theft.<\/li>\n<li>Worker&rsquo;s comp insurance:&nbsp;This coverage protects your employees against illnesses and work-related injuries.&nbsp;&nbsp;<\/li>\n<li>Commercial auto insurance:&nbsp;It&rsquo;s required for business vehicles.<\/li>\n<li>Cyber liability insurance:&nbsp;It protects your business against cybercrimes.<\/li>\n<\/ul>\n<p>Having known the different types of commercial insurance coverages, you can now ask how much business insurance you require to purchase.<\/p>\n<p><strong>How much business insurance do you need?<\/strong><\/p>\n<p>The amount of commercial insurance apt for your business isn&rsquo;t a cut-and-dry answer. It depends on various aspects of your business. Here are questions you must ask before determining the amount of commercial insurance you need:<\/p>\n<ul>\n<li>What&rsquo;s the nature and size of your business?<\/li>\n<li>How many employees do you have?<\/li>\n<li>Where is the location of your business?<\/li>\n<li>What&rsquo;s the size of your business contracts?&nbsp;<\/li>\n<li>What are the mandatory commercial insurance coverages?<\/li>\n<li>How many insurance coverages do you intend to purchase?<\/li>\n<\/ul>\n<p>An insurance agent familiar with your industry can help you determine the amount of commercial insurance sufficient for your business.&nbsp;<\/p>\n<p>Are you still unsure about the amount of commercial insurance you should purchase? Don&rsquo;t stress yourself. Instead, contact Franklin Insurance Agency for clarification. You can also pass by our Rio Rancho, NM to talk to one of our agents.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>At Franklin Insurance Agency, we usually get this from our clients after a disaster strikes, &ldquo;I thought I was covered.&rdquo; Unfortunately, about 75% to 90% of business owners are underinsured. And this means one thing &mdash; you will have to incur unexpected out-of-pocket expenses when disasters knock on your doors. So, how much commercial insurance [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[11,9],"class_list":["post-68","post","type-post","status-publish","format-standard","hentry","category-commercial-insurance","tag-franklin-insurance-agency","tag-rio-rancho-nm"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.fianm.com\/blog\/wp-json\/wp\/v2\/posts\/68","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fianm.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fianm.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fianm.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fianm.com\/blog\/wp-json\/wp\/v2\/comments?post=68"}],"version-history":[{"count":1,"href":"https:\/\/www.fianm.com\/blog\/wp-json\/wp\/v2\/posts\/68\/revisions"}],"predecessor-version":[{"id":69,"href":"https:\/\/www.fianm.com\/blog\/wp-json\/wp\/v2\/posts\/68\/revisions\/69"}],"wp:attachment":[{"href":"https:\/\/www.fianm.com\/blog\/wp-json\/wp\/v2\/media?parent=68"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fianm.com\/blog\/wp-json\/wp\/v2\/categories?post=68"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fianm.com\/blog\/wp-json\/wp\/v2\/tags?post=68"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}