COMMERCIAL (BUSINESS ) INSURANCE
Insurance For Your North Carolina Business
You’re focused on your sales goals, expanding your business, constantly navigating ups and downs, and the last thing you need is a surprise that derails your progress. A lawsuit, a natural disaster, or even a minor accident could throw your world into chaos.
Business Insurance For Entrepreneurs Throughout North Carolina
What if you could focus on growth and innovation, knowing your business is protected?
No brainer, right?
We are an independent agency in beautiful coastal North Carolina, and we help businesses like yours secure comprehensive commercial insurance.
This way, you can channel your energy into achieving your goals while we take care of the unexpected.
Let’s schedule a free consultation to talk about your specific needs and build a plan that empowers your success.
Why Choose The Huneycutt Group
The Huneycutt Group Insurance Agency specializes in Commercial Liability, Commercial Umbrellas, Commercial Vehicles (and, commercial truck), Workers Compensation, and Commercial Inland Marine.
It’s important to remember that the specific types of commercial insurance you need will depend on your business’s nature, size, and industry.
We will assess your unique needs and tailor an insurance plan that provides comprehensive coverage for your unique business.
What Is Commercial Insurance?
Commercial insurance, also known as business insurance, is a type of insurance that protects businesses from financial losses arising from various unforeseen events. It acts as a safety net, safeguarding your business from the burden of covering unexpected expenses that could potentially cripple your operations.
Why You Need Commercial Insurance
Liability
Lawsuits are a reality, and even if you believe your business is operating flawlessly, unforeseen circumstances can lead to legal claims. Commercial insurance can cover legal costs and settlements in case of lawsuits arising from property damage, bodily injury, or other claims brought by third parties.
Property Damage
From fire and theft to natural disasters, your business property and equipment are susceptible to various threats. Commercial insurance can help you recover financially from such losses, ensuring your business continuity.
Business Interruption
Unexpected events like natural disasters or even power outages can disrupt your business operations, leading to lost income. Business interruption insurance can help compensate for lost revenue during such periods.
Risk Management
Commercial insurance helps you identify and mitigate potential risks associated with your business operations. This proactive approach can prevent future losses and ensure the smooth functioning of your business.
Focus on Core Operations
By having a financial safety net in place, you can free yourself from the constant worry about unexpected financial burdens and focus your energy on core business activities like growth and development.
Commercial Insurance In Wilmington That Protects You Against Any Threat
At Huneycutt Insurance Group, we provide our clients with a true business strategy that makes certain you’re covered against any threat.
We have over 20 years of experience in Wilmington, North Carolina protecting businesses like yours.
Your business insurance strategy is multifaceted and nuanced. The Huneycutt Group has access to dozens of companies and programs. We’ll be able to offer you the right protection for your business, and nothing you don’t need.
What Does A Business Insurance Policy Cover?
A business insurance policy can be customized to offer coverage for the liability (exposure) that you need coverage for. And, although they are infinitely customizable, a standard business insurance policy covers a few expenses across the board.
Commercial General Liability (CGL)
A Commercial General Liability policy is the cornerstone of your strategy. Commercial Liability coverage protects your business from a financial loss for personal and bodily injury caused by your services, business operations or your employees. Some examples are:
- Advertising Injury
- Medical Expenses
- Legal Costs
- Libel
Commercial Property
Your building and property coverage safeguards your structure and equipment against:
- Vandalism
- Fire
- Lightning & Wind Damage
- Explosions
Workers Compensation
Accidents happen, and if your employee gets injured at work, your Workers Compensation coverage can step in. It helps cover these costs so you’re not out of pocket:
- Medical Expense
- Lost Wages
- Rehabilitation Costs
What Factors Affect Business Insurance Rates In Wilmington?
The average business insurance rates vary based on several factors. However, there are common elements insurance companies use to analyze and determine your rate.
- Business Location
- Type Of Industry
- Claims History
- Number Of Employees
Insurance Companies And Brokers We Represent
Commercial Insurance FAQs
Does NC require business insurance?
The North Carolina Workers’ Compensation Act requires that all businesses that employ three or more employees obtain workers’ compensation insurance or qualify as self-insured employers for purposes of paying workers’ compensation benefits to their employees.
What’s the difference between business insurance and commercial insurance?
When business owners are searching for the best insurance policy for their business, they often confuse the terms commercial insurance and business insurance. Even though they sound different, they are actually the same, and the terms can be used interchangeably.
Does my LLC need a business license in NC?
North Carolina doesn’t require you to have a general state business license for your LLC. However, you may need more specialized state licenses, permits or even insurance, if you engage in certain types of businesses.
