How much commercial insurance do you need?

Commercial insurance works to protect your business in Lynnwood, WA from financial ruin in the instance of the unexpected happening. You should understand the tenets of a good assurance plan before you need to take advantage of its benefits. Unfortunately, though, many business owners do not give enough credence to commercial insurance and, thus, find themselves in a bind when tragedy strikes and policy limits leave them with outstanding balances. 

The agents at Sound Choice Insurance Agency Inc work to get your company fully protected so that you are ready when the unthinkable manifests. Read on to learn about commercial insurance policy limits and how much assurance your business may need!

What are commercial insurance policy limits?

Your business assurance plan in Lynnwood, WA is not absolute. Just as with a car insurance policy that imposes maximum limits for payouts, so also does your commercial indemnity plan. The amount of compensation you receive from your policy after tragedy strikes largely depend on your premium. Those who pay higher amounts for coverage may find that their policy pays for more damages that those who pay the bare minimum in premium amounts every month. 

Bigger, however, is not always better. Some business owners find that they do not have the protection they need even with high monthly premiums. It is important, then, to discuss the nature of your business with a specialist from Sound Choice Insurance Agency Inc to ensure that your indemnity plan is the right one for your situation. 

How much commercial insurance do you need?

The amount of business assurance your company needs depends on the type of business that you carry out during the day. Those with retail companies may find that they need more coverage for incidents because of the flow of customers throughout the workday. Meanwhile, those with Internet-based companies may not need as much assurance in the way of physical liability. It may be essential, however, to have an indemnity plan that pays for lawsuits related to intellectual property. 

An agent at Sound Choice can help you navigate the way of commercial insurance. Call them today for a consultation and to get started with a quote!

An Introduction to Classic Car Insurance

Your dream car might be brand-new, but for many, it’s a classic from the early days of automotive. Model Ts or an old school Packard prove popular to some. Others prefer a 1950s roadster or 1960s muscle car. These vehicles, known as antique or classic cars, require classic car insurance. Sound Choice Insurance Agency Inc of Lynnwood, WA wants you to understand the special requirements of this necessary auto insurance policy.

This insurance type covers vehicles built 30 years ago or more. Since their owners tend to not use these cars for regular use, the policies to cover them cover limited mileage and other conditions.

  • Driving the vehicle: The owner is covered to drive the collectible car to car shows, in parades and other special, limited uses. Policies limit annual mileage to 1,000 to 5,000 miles.
  • Storing the vehicle: These policies require the owner to store the classic car in a fully enclosed, locked garage.
  • Value of the vehicle: Ask which type of coverage you’re buying. An agreed-value policy pays the full amount on the policy if the car gets totaled, less deductible. A stated value policy interprets the vehicle value at the time of the accident/claim.
  • Condition of the vehicle: It is easier to insure a classic car in excellent condition than one in good or poor condition. You can still get insurance while restoring an older vehicle.

Get the classic car coverage your vehicle needs. Call or visit Sound Choice Insurance Agency Inc of Lynnwood, WA to learn more and find the right classic car policy for your vehicle. We can help you obtain the coverage you need.

Do Motorvehicle Infractions Affect My Motorhome Insurance Rate?

It’s a beautiful country and the residents of Lynnwood, WA know that more than any other outdoor enthusiast. At Sound Choice Insurance Agency Inc. in  Lynnwood, WA our knowledgeable staff of professional insurance agents will help you understand exactly how to best utilize your motor home insurance policy as the reassuring tool that it is. As you’re taking in the sights of beautiful Washington state and the surrounding areas you do not want to have to consider exactly what you’re covered for in case of a mishap or an accident. Motor Home Insurance is different from auto insurance in that it is protecting your motor home. However, the keyword is "motor". You will be driving this particular home. So, as a result, your motor vehicle record is taken into account including whether you have motor vehicle infractions. There are other factors that are taken into account when evaluating your risk for obtaining motor vehicle motor home insurance as well.  Similar to your auto insurance coverage, a good motor home insurance agent will explain to you how the following factors affect your policy: the storage of the motor home,  your gender, your marital status, your credit score, your driving experience and, your age. 

At Sound Choice Insurance Agency Inc our name speaks for itself. We are what makes sense in protecting you and your family when it comes to insurance. We serve the following states Washington, Alaska, Arizona, California, Colorado, Georgia, Idaho, Michigan, Montana, North Dakota, Nevada, Ohio, Oregon, and South Carolina. In addition to motor home insurance packages, we offer automobile insurance, home insurance, umbrella insurance, restaurant insurance, classic car insurance, renters insurance, condo insurance, flood insurance, business insurance and boat and watercraft insurance.  We are located at 19009 33rd Ave. W. Suite 310 in Lynnwood 98036. If you prefer, call us today at 425–333-8033. 

Will My Commercial Insurance Policy Cover Theft?

When you are operating a business, whether small or large in scale, there is always going to be some level of theft occurring. From employee theft to casual shoplifting to large-scale burglaries, your goods and inventory are always at risk. Besides locks, surveillance cameras, and good inventory tools, one of the best ways that you can protect your business against theft is through a comprehensive commercial insurance policy. Commercial insurance protects your company from a wide range of risks you may not be aware of. For those that live in the Lynnwood, WA area, the agents at Sound Choice Insurance Agency Inc. can help you find the right policy to cover any eventuality. 

Not only does commercial insurance protect your actual, physical business, it also helps pay for medical bills in the event that a customer or employee is injured on your property, and it covers the costs of defending yourself against any lawsuits filed against you.  On top of that, a commercial insurance policy also covers you from theft and compensates for items that are stolen. 

It pays to keep a detailed inventory list and receipts. In order for a theft claim to be paid, you must have an inventory list that proves what was in your store, when it was purchased, what value it had, and what was stolen. Additionally, you will need to have some kind of proof, such as surveillance video.  

Commercial policies are designed to help protect you, your company, your assets, and to prevent any major issues that might cause your business to slow down or shut your doors. If you live in the Lynnwood, WA area, the insurance experts at Sound Choice Insurance Agency Inc. can answer all your questions about theft and loss prevention insurance to help you tailor the perfect commercial policy for your needs.  Give us a call today!

Does Commercial Insurance Cover Inventory Losses?

If you have a business, then you probably already know that you need commercial insurance. Many people, however, do not realize the terms and conditions may vary from policy to policy. Knowing what is covered is one of the keys to protecting your business from losses. For example, do you know if your commercial insurance covers inventory losses?

Inventory Losses

There can be a number of situations in which you may lose inventory and not all insurance will cover inventory losses, especially if it is perishable goods. This should be taken into consideration when purchasing your insurance. If you have a considerable amount of inventory, or you have products which may be damaged or even spoil, then you may need special coverage or a rider on a policy which helps you customize coverage to prevent gaps. Speak with your insurance agent about the ways you can protect your valuable inventory and create a better policy for your needs. 

Finding A Good Policy

Finding a policy that works for you is easy if you have the right agent and insurance provider backing you. Make sure to do business with a reputable insurance company with knowledgeable agents who will work with you closely to make sure you are protected. Residents of the areas around Lynnwood, WA know that they can rely on Sound Choice Insurance Agency Inc to give them the information they need to make a wise decision when it comes to coverage. 

Always keep adequate coverage for your inventory, especially if you are a growing company. Loss of inventory can cripple a business and lead to disaster. Work with the agents at Sound Choice Insurance Agency Inc in Lynnwood, WA  to ensure you are protected from losses. Call or stop by today to get more information about insurance products to fit your needs. 

Flaws That Can Derail Your Commercial Insurance Coverage

If you own a Lynnwood, WA area business, you need to make sure that you avoid common business insurance flaws. We at Sound Choice Insurance Agency Inc have seen these flaws happen far too often, particularly in those who attempt to write their own unique business insurance policies.

Blanket Language Can Be Vague

Insurance language can be confusing to many people and may feel vague to you. For example, you may find a policy or write one that states that your coverage won’t go into effect due to “errors caused by the policyholder” without discussing those errors. As a result, you and your company could have some conflicts if a problem does occur and they think you caused it.

Policy May Not Be Suited for Your Business

While commercial insurance policies are designed to be adaptable to many business needs, they won’t be appropriate for all types of companies. Even if you buy a policy that other companies in your field have purchased, it still might not be quite right for your needs. Make sure you go over all the coverage with your policy provider to ensure you don’t make any serious mistakes.

Cost Assessment May Be Difficult

One flaw that you may find is that you can’t assess your business costs accurately enough for your insurance company. This flaw is huge because it may cause you to overestimate damage and trigger a defensive mechanism from your provider. It may also cause you to underestimate and cost you a lot of money. In some instances, it could even cause insurance policy cancellation.

Getting the Best Commercial Insurance For Your Needs

Protecting your Lynnwood, WA from these insurance errors requires contacting us at Sound Choice Insurance Agency Inc. We will assess your commercial insurance needs and make sure that your policy covers all of the common issues and problems that can derail your coverage.

Do I need Commercial Insurance before I Open for Business

Own a business in Lynnwood, WA?

Then you absolutely must have commercial insurance before you open for business. Why? Because, first of all, the law requires it and secondly, your business is an asset that needs to be protected. But that’s not all. Read on to discover why having commercial insurance is so vitally important before you start doing business.  

Protect your Asset

In the event that something devastating happens while you are doing business in Lynnwood, WA, you need to be protected. For example, your business could burn to the ground and if you’re not covered, you’ve just lost everything. You also need to think about lawsuits. Depending on what kind of business you run, the door for a potential lawsuit to be filed will be different. For example, if you own a taxi service and one of your vehicles strikes and kills a person, your company is liable. If you own a retail store and a customer slips and falls on the floor, breaking their leg, they could sue you.  

Protect your Employees

If your business has employees, you need to protect them as well. This typically includes having worker’s compensation insurance and unemployment insurance for your employees.  

What does Business Insurance Cost?

This will depend on what type of business you own and how many employees you have, if any. Other factors include the location and size of your business as well as your annual revenue.  

To find out more about purchasing commercial insurance for your business, contact the team at Sound Choice Insurance Agency, Inc. Our agents are reputable, knowledgeable, and available to answer all your questions. Call Sound Insurance Agency, Inc today to find out more.  

What Can Be Covered by Commercial Insurance?

Commercial insurance in Lynnwood, WA can protect your business from lawsuits or other catastrophic events. There are plenty of insurance options that will help protect businesses and cover a wide variety of problems. Depending on your business, you may need different types of insurance and an agent at Sound Choice Insurance Agency, Inc can help you with your options.

  • Liability insurance will cover a business against harm due to mistakes of their products or services. Every industry has certain concerns that are addressed in a professional liability policy so that you have maximum coverage.
  • Property insurance will cover the space. No matter if it’s a leased or owned space, this will include events like fire, storms, or theft. This will not cover events that cause mass destruction, like foods and earthquakes.
  • If a business has employees, workers comp will cover medical treatment and any death benefits if an employee suffered an injury as a result of work performed in that business.
  • Product liability covers your business if a product you manufacture is involved in a lawsuit. Coverage should be tailored to the type of product.
  • If you have company vehicles, commercial auto insurance will protect your business, similar to how the individual is protected with regular auto insurance. If employees are using their own vehicles, they will be covered under their own policies. However, if they are delivering goods for a fee, there is an exception to them using their vehicles.
  • If an event happens where a business cannot operate, business interruption insurance will help compensate for any lost income during this event. For businesses that operate at a location, such as a retail store, this type of insurance coverage should be necessary to prevent losses. It is important to note that home-based businesses will not be covered by their typical homeowner’s insurance policy.

Contact an agent at Sound Choice Insurance Agency, Inc serving Lynnwood, WA to get a quote on commercial insurance. Our agents are ready to answer your questions and work with you to get the coverage your business needs.

Does Your Business Insurance Cover Harassment?

One of the biggest problems companies face is the responsibility for their employee’s actions, especially if someone is harmed or suffers a loss because of the activity. Typically, commercial insurance is intended to protect the business with regards to the services and products it offers consumers. However, the employee activity that can generate a liability goes far beyond what is sold. It can include vehicle accidents, harassment or harm to another employee, accidental or intentional business property damage, and more. According to Sound Choice Insurance Agency, Inc, generic commercial insurance isn’t necessarily all-encompassing that it covers every employee action possible. Insurance may instead need to be addressed by workers compensation, and a custom policy may be necessary for personal actions unrelated to a work function.

Lynnwood, WA businesses are no different from any other location. They need people to help operations and support the growth of the company. However, even with rules, employee handbooks, and supervisors monitoring activity, a company still has responsibility for what it’s employees do under the legal concept of vicarious liability. As a result, it is essential that when a business seeks to protect itself from operational activities, the commercial and business policy chosen includes contingencies for employee actions. It’s a bit like homeowners insurance; you don’t intend to have someone fall in your house and break their hip, but when it does, the coverage is a significant financial solution.

Contact us

The experts at Sound Choice Insurance Agency, Inc can help. We can examine your Lynwood, WA business, how its currently structured, how the company is expected to grow over time, and then match it up with a coverage policy that makes sense. Ideally, a company should be served by a policy that fits its size, employee activity scope, and addresses typical employee-caused risks. That way management can focus on productivity and stop spending so much time worrying about an employee going off the range any possible moment. Reach out to our agents to learn more.

Does an at-home business need commercial insurance?

Running a business from your home office does not necessarily mean that you are completely exempt from needing any insurance coverage. You don’t have the same risks hanging over your head as you would if you ran a factory, a storefront, a warehouse, or even if you were doing house calls, but you do take on some risks, for instance:

General Liability

You need an amount of liability coverage if anyone is going to be visiting you at your home office. Your existing liability policy might be enough coverage if nobody ever really visits except for maybe your business partner or the occasional client. If you are having people regularly coming to your home to buy from you or to show up for photo shoots, hairdressing, or anything related, then you may need to talk to Sound Choice Insurance Agency, Inc in Lynnwood, WA about getting your Washington business covered for basic liability concerns.

Libel And Legal Concerns

If you work in any capacity as a publisher or a content producer, then it may be worth looking into professional liability coverage. This will help you to keep your assets safe should you be hit with a libel case, for instance. In truth, most libel cases are a bluff. People send cease and desist orders to try and scare you into taking something down. Although, it’s good to have the backing of professional liability insurance to make sure that you can afford to call them on that bluff.

No matter your industry, you probably have some insurance concerns to consider. Whatever your risks, it might not be a bad idea to call Sound Choice Insurance Agency, Inc to keep your Lynnwood, WA business covered. Our agents can help answer your questions and guide you through the insurance process.