Those that are in the Centennial, CO area will likely enjoy the beautiful weather that exists for much of the year. While Colorado is known for snow, the entire Denver area can also enjoy long and warm summers. If you want to enjoy your summer as much as possible, you should consider getting a boat. If you are a boat owner here, there are several reasons why you may also need to have a boat insurance policy.
You Have Taken Out a Loan
One reason that you may need to have boat insurance when you are in Centennial is if you have taken out a loan. Buying a boat is a big purchase and due to this, it is common to finance it with a loan. If you do take out a boat loan, the lender will have insurance obligations that need to be met. This will help to protect their collateral in the event the boat is damaged or stolen.
You Want to Use Certain Water Access Points
Boat owners that want to use certain marinas or waterways in and around Centennial will need to have a full insurance policy. The water access points will want you to have liability coverage as it will ensure you are able to pay for damages if you cause an accident. In some cases, you may need to provide evidence of coverage prior to using the space.
Anyone that owns a boat in the Centennial, CO area should get a proper boat insurance policy. If you are looking for a new policy here, you should reach out to the team at Compass Insurance. When you call Compass Insurance, you can learn a lot more about how you can protect yourself with boat insurance. It can then help to ensure that you remain properly protected at all times.
What is commercial insurance?
Suppose you are wondering what would be a suitable insurance cover for your business; well, commercial insurance is a policy that covers your business against financial liability arising from damage to business property or injuries on your employees. At Compass Insurance in Centennial, CO, additional coverage may be provided upon request to cover business interruption, equipment breakdown, or workers’ compensation.
What factors to consider when purchasing commercial insurance?
- Whether the business owns or leases property
Where a business leases property, the risks involved are higher. You must disclose this to our Compass Insurance agents to ensure your property is analyzed for all possible risks and fully covered.
Have in mind the impact of loss should the business have to stop operations for some time. This could be a result of property damage or employee injury.
Your business may be predisposed to certain risks based on its location. A business near manufacturing companies or construction sites faces the risk of fire or property damage.
Types of commercial insurance
This will cover your employees against injuries, supports medical expenses, and wage compensation should an employee not be in a position to work.
- Commercial auto insurance
This covers your autos against thefts, break-ins, or accidents.
- Third-party liability insurance
This covers injuries caused by third parties while on your property. This may include lawsuits and claims against the business that may exceed regular policies and are difficult to predict.
Benefits of commercial insurance?
Commercial insurance will ensure business continuity through compensation, where business operations are interrupted.
- Cushion from financial obligation
Destruction of the property could result in substantial financial liability. Having a commercial insurance policy cushions you against such financial liability.
Please speak to our Compass Insurance agents in Centennial, CO, who will customize a policy that will meet your needs or visit our website for more information.