- Commercial Insurance
Commercial Insurance in Louisiana
All businesses could use a little bit of extra protection. Commercial insurance covers any property damage-related expenses and claims related to liability. If you do not have commercial insurance and something happens, you will be responsible for paying out-of-pocket costs. We offer commercial insurance here at MultiSurance in New Orleans, LA.
Commercial Insurance Requirements
Commercial insurance is required in the state of Louisiana. All businesses must have workers’ compensation insurance for any employee who is full-time or part-time. Workers’ compensation is vital because it covers medical costs for work-related illnesses and injuries.
Commercial auto insurance is also required for all businesses that have company-owned vehicles.
Commercial auto insurance minimum liability limits are:
- Bodily injury for each person for $15,000
- Bodily injury for each accident for $30,000
- Property damage for $15,000
Commercial Insurance Coverage
Here is what commercial insurance covers:
- General liability- This is an important policy because it covers some of the most common risks. It is best for customer bodily injuries and damaged customer property. Your commercial lease may require it.
- Business owner’s policy- This combines general liability and commercial property insurance in one plan. It is best for damaged customer property, customer injuries, and damaged customer property.
- Professional liability- This is also known as errors and omissions. This is best for oversights and work mistakes. It is also best for professional negligence lawsuits and late or incomplete work.
- Cyber liability- This covers financial losses as a result of cyberattacks and data breaches. Suppose your business handles sensitive data such as taking credit cards.
- Commercial property insurance- This covers your business’s physical structure and contents, including equipment, furniture, and inventory. It is best for theft, vandalism, fire, and more.
- Specialty Insurance- MultiSurance also provides specialty insurances in Special Events, Drones, Film & Production, and other non traditional risk
To obtain a quote for commercial insurance, call us at MultiSurance. We are located in New Orleans, LA.