.png)
2626 S. Mebane St.,
Burlington, NC 27215
9 am - 5 pm
Mon - Friday
(888) 38-BEACON
SAVE ON YOUR
INSURANCE TODAY
WITH BEACON FINANCIAL!
FREQUENTLY ASKED QUESTIONS
Q: WHAT IS COMMERCIAL INSURANCE, AND WHY DO I NEED IT? A: Commercial insurance protects your business from financial losses due to property damage, liability claims, employee injuries, and more—helping you stay resilient when the unexpected happens.
Q: WHAT TYPES OF COMMERCIAL INSURANCE DO I NEED FOR MY BUSINESS? A: It depends on your industry, but common coverages include general liability, commercial auto, workers’ compensation, property insurance, and professional liability.
Q: IS COMMERCIAL INSURANCE REQUIRED BY LAW? A: Some types, like workers’ compensation and commercial auto insurance, are required in most states. Others may be optional but highly recommended for protection.
Q: HOW MUCH DOES COMMERCIAL INSURANCE COST? A: Costs vary based on your business type, location, number of employees, and coverage needs. We work with you to find the best value for your budget.
Q: DOES MY POLICY COVER LAWSUITS OR LEGAL CLAIMS? A: Yes, most general liability and professional liability policies cover legal defense costs, settlements, or judgments related to covered claims.
Q: WHAT’S THE DIFFERENCE BETWEEN GENERAL LIABILITY AND PROFESSIONAL LIABILITY INSURANCE? A: General liability covers physical risks like injuries and property damage, while professional liability protects against claims of errors, omissions, or negligence in your services.
Q: HOW CAN I LOWER MY COMMERCIAL INSURANCE PREMIUMS? A: You can lower premiums by bundling policies, improving safety practices, increasing your deductible, and regularly reviewing your coverage.
Q: DOES MY COMMERCIAL POLICY COVER CYBERATTACKS OR DATA BREACHES? A: Not all policies do, but you can add cyber liability insurance to cover costs from data breaches, ransomware attacks, and other cyber incidents.
Q: CAN I MAKE CHANGES TO MY POLICY MID-TERM? A: Yes, you can update your policy anytime if your business operations change, you grow your team, or need additional coverage.
Q: IS MY BUSINESS COVERED IF I WORK FROM HOME? A: Some commercial policies extend coverage to home offices, but it’s important to confirm since homeowners insurance typically doesn’t cover business-related losses.
MORE FAQS
Q: WHAT’S INCLUDED IN COMMERCIAL PROPERTY INSURANCE? A: It covers your building, equipment, inventory, and can even include lost income due to events like fire, theft, or certain natural disasters.
Q: DO I NEED INSURANCE IF I’M A SOLE PROPRIETOR OR FREELANCER? A: Yes! Even solo business owners can face lawsuits, data breaches, or property damage—insurance helps protect your personal and business assets.
Q: WHAT’S THE DIFFERENCE BETWEEN SAVING AND INVESTING? A: Saving is setting aside money for short-term needs or emergencies, while investing aims to grow your money over time through assets like stocks or funds.
Q: IS INVESTING RISKY? A: All investments carry some risk, but understanding your goals, risk tolerance, and diversifying your portfolio can help manage it wisely.
Q: HOW DO I START INVESTING WITH A SMALL AMOUNT OF MONEY? A: Many platforms allow you to start with as little as $50–$100 through mutual funds, ETFs, or beginner-friendly investment accounts.