What is Business Insurance?
Business insurance protects your investment by minimizing financial risks associated with unexpected events such as a death of a partner, an injured employee, a lawsuit, or a natural disaster.
Business Insurance is a broad name for different coverages available to the business owner to protect against losses and to insure the continuing operation of the business.
What do I need to know about commercial insurance?
Commercial insurance is designed to help protect many of the risks your business can face. This includes things like damage or destruction to your business vehicles, office equipment, and inventory. It also includes loss of income in case you have to close-up shop temporarily because of a covered loss as well as crime coverage including robbery, burglary, even employee dishonesty.
My business is just starting out. Do I need to get insurance right away?
You have to assess if you have liabilities right away. Generally the answer is yes, especially if you have a physical location. If you are renting a space, landlords will require that you have insurance, insuring your Business Personal Property and General Liability. The proof of insurance is usually forwarded by us to your landlord via a Certificate of Insurance. Workers Compensation is required as well.
Am I required to have worker's comp insurance for my Louisiana business?
All employers must provide workers compensation insurance for their employees, and must show proof that they have the financial means to carry Louisiana workers compensation insurance. Workers compensation insurance can be provided by a workers compensation insurer, self-insurance, or group self-insurance.
Exemptions to worker’s comp includes:
· Any employee of a private residential householder or of a private unincorporated farm.
· Musicians and performers who are rendering services related to a performance contract.
· Employees covered by the Federal Employer’s Liability Act, the Longshoremen’s and Harbor Workers’ Compensation Act and the Jones Act.
· Any employer acting as a common carrier while engaged in interstate or foreign trade by railroad.
· The crews of any airplane working in dusting or spraying operations.
· Uncompensated officers and members of boards of directors of select nonprofit organizations.
· All real estate brokers or sales agents licensed to do business in the State of Louisiana.
· Any person performing services relating to the exploration, development, production, or transportation of minerals.
Major Types of Business Insurance
General Liability Insurance
1352 Seventh Street
Slidell, LA 70458
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