Do I need commercial insurance if my business has no inventory?

If you own a service-based business such as a nail salon or air conditioner repair shop, then it’s probably not very likely that you have a lot of inventory to worry about.  In fact, many owners of service-based businesses assume that there is no reason to hold commercial insurance because they have no inventory that would need to be replaced.  The truth is that these types of businesses are often the ones that need commercial insurance the most.

Commercial insurance policies cover a lot more than just a business’ inventory.  They can also be written to cover your equipment, vehicles, tools, and in some cases even provide protection in the event of a lawsuit. For a service-based company, that means a policy can protect virtually everything you need to stay in business.

Even though your company doesn’t have much in the way of merchandise, odds are good that you have thousands of dollars invested in tools and equipment.  In the event of a crime or natural disaster, it’s possible to lose all of these things.  That could mean being out of work for weeks while everything is replaced out of your business’ own funds.

Commercial insurance can also include coverage for the structures and real estate that your business owns.  Storage buildings, storefronts, and manufacturing facilities can all be covered under a commercial property insurance policy.

If you’re thinking about purchasing a new commercial insurance policy, or just updating the one you already have, call the agents at 1st American Insurance Agency.  They have years of experience helping business owns find insurance that meets their needs without blowing their budget.

Top 3 Things That Should be on Your Fall Home Safety Check List

Now that the fall is finally here, conducting an annual safety check on your home is the best way to ensure you’re ready for the cooler months. No matter the size or location of your home, some things are essentially universal. The following is an overview of 3 things that should definitely be on your fall home safety check list. 

Medical Supplies 

First and foremost, the fall months is an excellent time to replenish your medical supplies. Given that many ailments are seasonal in nature, you may want to double check your supply and ensure you have all the medical supplies required to make it through the colder months. 

Cleaning Supplies 

Much like spring cleaning, the fall is an excellent time to clean out old clothes, papers, as well as things such as things such as changing decor, color schemes, and even the general arrangement of furniture. Be sure to stock up on all necessary cleaning supplies to make this process as easy as possible. 

Firewood/ Fire Safety Plan

Lastly, if you live in a home that uses firewood in the cooler months, stocking up on your firewood is of the utmost importance during the fall. This is a time in which your home will be getting colder and you may need to light a fire at a moment’s notice. On the flip side, this is also a great time to review your fire safety plan, for obvious reasons. 

Overall, for those who live in Lafayette, CO, conducting a fall safety check should be on the top of your to-do list. Let 1st American Insurance Agency provide the answers to all of your home insurance inquiries.