Commercial Insurance FAQs

Knowing exactly what commercial insurance is right for your business is not something most business owners are experts on. Insurance agents know how to evaluate risk and suggest the right protection to mitigate that risk. At Holmes Insurance Services in Youngsville, NC, we strive to provide every customer with the highest level of service. We want to have a long-term relationship with each person we serve. 

If you have questions about commercial insurance, you are not alone. 

Do I need to own a building to benefit from commercial property insurance?

No, even if you are a renter, you can reap many benefits from commercial property insurance. Commercial property insurance covers the content as well as the building. All the things you need to do business are display cabinets, tools, machinery, raw materials, inventory, electronics, and all your office equipment. 

What type of commercial insurance is required in North Carolina?

In North Carolina, if your business has any vehicles, you need to have commercial auto insurance, and workers’ compensation is also required. 

For auto insurance, the basic requirement for commercial vehicles is 30/60/25. This is $30,000 for a single injury in an accident with a total of $60,000 if more than one person is injured with $25,000 in property damage. 

For workers’ compensation insurance, if your business has three or more employees, you must cover them with workers’ compensation. 

How much liability insurance should I have for my business?

Every business has different assets and different liability requirements. Some businesses are a lot more prone to legal action than other businesses. Your insurance agent will measure your risk level to come up with the correct amount. 

Contact Holmes Insurance Services in Youngsville, NC when you are ready to discuss your commercial insurance needs.