In Alabama, there are clear laws about the types of commercial insurance that businesses must have. In the state, there are two commercial insurance types that most Alabama businesses need. There are also many other types that are helpful but not required. If you need commercial insurance for your business, call us at Elliott & Associates Insurance in Opelika, AL.
Workers’ Compensation Coverage
Many states require this coverage for every business that has any number of employees, but Alabama only requires it if you have more than four employees. These workers can be part-time or full-time, and they include any members of the LLC or officers of the company. This insurance protection pays for medical bills when an employee has an accident or contracts an illness at work. It’s a helpful policy for your business, as it protects the company against having to pay out of pocket for medical bills and legal fees.
Commercial Auto Coverage
If your business owns a vehicle in the state, it has to have a commercial auto insurance policy. There is a state-mandated minimum amount that the policy has to include for property damage for an accident. This includes coverage for damage done to a third party’s vehicle but not your own. It also has a minimum for the number of bodily injury bills it will pay for when one person is injured in an accident. It has a different number required for when two or more people are injured.
Get Your Commercial Insurance
If your business doesn’t have the required types of commercial insurance, or you want to add to your policy, call us at Elliott & Associates Insurance in Opelika, AL to talk to an agent about your commercial insurance needs.