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Sussex County Business Insurance

The term “business insurance” pertains to protecting against operational losses by a business. What type of loss is covered by a business insurance policy depends on the insurance company, the policy wording, and local limitations. Let Wilgus Associates agents help you determine the right insurance policy for your Delaware business in Georgetown, Bethany Beach, Lewes, Dagsboro, Millville or another town.

Common Coverage Types

There are several types of business insurance, each limiting coverage stipulations and restrictions. The most common types are:

  • Building Insurance:  This covers the cost of repairing damage to the structure of your property. Garages, sheds, and fences can also be covered, as well as the cost of replacing items such as pipes, cables, and drains.
  • General Liability Insurance: This coverage protects the business against liability claims, negligence, manufacturing or personnel error, bodily injury, or even property damage. Liability insurance often covers the policy holders’ legal fees if the liability or event is covered under the policy.
  • Product Liability: Coverage protects against faulty products and damage, injury, or death from the use of the faulty product.
  • Business Income Coverage: Commercial property insurance covering loss of income suffered by a business when damage to its premises by a covered cause of loss causes a slowdown or suspension of its operations. Coverage applies to loss suffered during the time required to repair or replace the damaged property. It may also be extended to apply to loss suffered after the completion of repairs for a specified number of days. There are two Insurance Services Office, Inc. (ISO), business income coverage forms: the business income and extra expense coverage form (CP 00 30) and the business income coverage form without extra expense (CP 00 32). Business income coverage (BIC) is also referred to as business interruption coverage.
  • Cyber Liability:  Covers a business’ liability for a data breach in which the firm’s customers personal information such as Social Security or credit card numbers are exposed or stolen by a hacker or other criminal who has gained access to the firm’s electronic equipment.

Business Insurance is a Smart Investment for All Businesses

Because business insurance spreads the risk costs among all businesses with coverage policies, a business may experience rate increases when no claim was filed against that business. However, the replacement costs for the individual business are generally considerably higher, making purchasing business insurance a wise decision for many business owners, whether involving a large, established business or a small business just starting.

insurance - Busines

Business Insurance is a Smart Investment for All Businesses

Because business insurance spreads the risk costs among all businesses with coverage policies, a business may experience rate increases when no claim was filed against that business. However, the replacement costs for the individual business are generally considerably higher, making purchasing business insurance a wise decision for many business owners, whether involving a large, established business or a small business just starting.

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We represent the leading names in the industry and we want you to be able to make your claim quickly and easily. The best way is to contact your insurance company directly.

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We are a family-owned independent insurance agency started in Sussex County in 1945. We are now in our fourth generation of successful family ownership. Put us to work for you.

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