Commercial Insurance in Oxford, MS

Needing commercial & business coverage? Sharp Insurance Agency offers accurate, quick and affordable rates.

What Is Commercial Property Insurance?

Commercial property insurance protects your business' physical assets from a minor hiccup to a major financial loss. Insurance plans for commercial property vary from policy to policy but are commonly categorized by the type of accident leading to the damaged, stolen or destroyed property and what specifically is insured.

Make sure to read your policy carefully. If you are concerned that a specific kind of risk may not be covered, ask your insurance agent. They can often find ways to increase your coverage.

How Does Commercial Property Coverage Work?

Commercial Property - commercial insurance in Oxford, MS
Basic property insurance generally covers losses caused by damage from vehicles or airplanes, vandalism, theft, fires or explosions. Additional coverage also referred to as “endorsements” can be added to provide additional protection for things such as broken glass and earthquakes.

What Commercial Property Insurance Covers

Commercial property insurance is an important investment ensuring your business' future.

Property Insurance helps protect:

  • Inventory
  • Building
  • Furniture & equipment
  • Outdoor sign
  • Fence & Landscaping
  • Others' property
Unexpected accidents can happen, such as fires, storms or other major setbacks. You have financial assistance and support to help you recover quickly with commercial property insurance.

Sharp Insurance Agency understands that your business is unique. We can tailor an insurance policy to fit your business needs. We're here to help you protect your business from liability claims. Contact us today!

Benefits of General Liability

For most umbrella liability policy, you can typically exclude business-related liability. Getting sued is a huge worry for any business owner, and the chances of it happening have increased in recent years.

If your business is ever sued or held legally responsible for damage or injury, having General Liability insurance can prevent disaster by providing financial protection. It pays for losses related to property damage, personal injury on you premises or because of daily operations, and real or alleged bodily injury,

Here's a broad range of things General Liability insurance can cover:
  • Bodily Injury, including the cost of care, the loss of services, and the restitution for any death that results from injury

  • Property Damage coverage for the physical damage to property of others or the loss of use of that property

  • Products-Completed Operations provides liability protection (damages and legal expenses up to your policy's limit) if an injury ever resulted from something your company made or service your company provided

  • Products Liability is a more specialized product liability insurance that protects your company against lawsuits from product-related injury or accidents

  • Contractual Liability extends to any liability you may assume by entering into a variety of contracts

  • Other coverage includes: Reasonable Use of Force; Borrowed Equipment; Liquor Liability; Non-Owned Vehicles (such as aircraft and watercraft); Fire, Lightning or Explosion Damage; Water Damage Liability Protection; Legal Defense Costs; Medical Payments; Personal Injury; Advertising Injury; and specialized liability protection for specific business types

Commercial Auto Insurance

Businesses, just like personal owners, need all the same types of coverages you would get for a personal vehicle, including medical payments (or personal injury), liability, collision and comprehensive, and coverage for uninsured motorists. Often, businesses will use the same car for both personal and professional needs.

Depending on what you use the vehicle for, you may need to consider purchasing a business auto insurance policy. Our agents will ask about how vehicles are used for your business, if your employees are likely to drive their own cars for business purposes and who plans to drive them.

This information will help us determine if you need a business auto insurance policy, because they differ from a personal auto policy in several ways. Ask us to explain your options and the differences between the policy types.

What is Workers Compensation?

Workers Compensation - commercial insurance in Oxford, MS
Compensation laws ensure employees injured on the job are given fixed monetary awards, getting rid of the need for legal hassle and creating an easier process for the employee. It also reduces financial risks for employers, because several states limit the amount compensation an employee can collect from their employer.

Most states require that employers carry some form of Workers Compensation Insurance, as it helps them pay for these awards. While it is related to employee health, Workers Compensation Insurance is not health insurance.

Even in non-mandatory states, Workers Compensation Insurance can be good to have if you have many employees or if they work in hazardous conditions.

Do I need workers compensation insurance?

Accidents can still happen even in the safest of workspaces, so it's a legal responsibility for employers to make sure their workers have protections in place. Workers compensation is purchased as a separate policy.

Workers compensation helps cover employees both on and off-site, and in cases of work-related illnesses or auto accidents while on business.

It also provides payments regardless of who was at fault in the accident, for time lost from work and for medical and rehabilitation services. Compensation also provides death benefits to surviving spouses and dependents.

Still have questions? Contact our agents and let us guide you on insurance needs for your business.