Steiner Insurance Group

2413 Wilcox Dr
Norman, OK 73069

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What type of Commercial Insurance Do I Need for my Business?

Businesses have different financial needs than individuals, which extend to their insurance needs. At Steiner Insurance Group in Nashville, NC, we offer commercial insurance.

Commercial Property Insurance

You’ll need commercial property insurance if you own a physical building associated with your business, such as a store, office, or manufacturing center. A commercial property policy covers the building and any business property or equipment within the building. However, it’s essential to understand that commercial property insurance does not include liability coverage.

General Liability Insurance

General liability insurance protects you from liability if someone is injured on your business property. It also covers damage to someone else’s property or belongings while at your business.

Business Owner’s Policy

A business owner’s policy, also known as BOP, combines general liability and commercial property insurance.

Professional Liability

While general liability covers people who are at your business, it doesn’t cover liability related to your products or services. For instance, if you are a mechanic and make a mistake that breaks a customer’s engine, professional liability will cover the repair cost.

Product Liability is another form of professional liability coverage. It covers damages caused by a faulty product created by your business.

Commercial Auto Insurance

You’ll need a commercial auto policy if you use a vehicle for business purposes, such as transporting customers, goods, or equipment.

A commercial auto policy also covers any legal driver, allowing employees to drive the company vehicle as well safely.

Commercial Insurance at Steiner Insurance Group

Contact Steiner Insurance Group if you need commercial insurance in Nashville, NC. We provide business insurance to meet the needs of businesses of all sizes. Our friendly agents will help you select the right policies for your business.

Workers Compensation Insurance Protects Your Employees and Your Business

Steiner Insurance Group Offers Worker’s Compensation Insurance For North Carolina Businesses

Most businesses employ individuals to do a variety of work-related tasks. In some cases, employees may be exposed to the risk of injury that can affect their health or their ability to work. Workers’ compensation insurance is designed to provide funds when employees are injured and need medical attention and when they cannot work due to an injury. At Steiner Insurance Group, serving Nashville, NC, we help businesses get workers’ compensation insurance to protect their workers and their profits.

Understanding Your Worker’s Compensation Insurance

An accident or on-the-job work injury can happen at any time, and these incidents can require medical treatment and loss of wages. Employers are responsible for the safety of workers and could be liable for the costs of an injury to an employee. Workers’ compensation insurance provides funds to pay the expenses of medical treatment for an injury and also provides compensation for lost wages while the employee recovers.

Workers’ Compensation Insurance Is Important To Your Company’s Stability

Workers’ compensation insurance defrays the cost of medical treatment for workers injured while on the job. Each state has different rules regarding when workers’ compensation insurance is mandatory, what types of injuries it covers, and how much is paid out for an injury. Without worker’s compensation insurance coverage, your company would have to pay for these expenses, which could negatively impact your bottom line or even cause you to go out of business. In this way, workers’ compensation insurance helps to stabilize your business expenses and liabilities when unexpected events occur.

Make Steiner Insurance Group Your Choice For Workers Compensation Insurance

The details of workers’ compensation insurance can be complex, and our insurance professionals have the knowledge and experience to provide you with the answers you need. Contact Steiner Insurance Group serving Nashville, NC today for a no-obligation worker compensation insurance quote to protect your business.

Commercial insurance that most businesses can benefit from

Commercial insurance may be something you think your business can do without. But some types of commercial insurance are required by law in North Carolina. Other types of commercial insurance may not be mandated but can help save your business from a variety of perils. At Steiner Insurance Group in Nashville, NC, we are here to help business owners to assess their risks and to choose the right commercial insurance for their business.  

Commercial insurance that most businesses can benefit from

Commercial liability insurance

Your business needs to have commercial liability to save it from a lawsuit against it. Lawsuits are common and you can get sued by a variety of people. You may have a dissatisfied customer, or someone could have a slip and fall at your business location. If they have injuries, you could have to pay for pain and suffering. It can even be a disgruntled employee who decides to sue you. But the end result will be the same; you will have legal expenses and, if you lose, a settlement. Without commercial liability insurance, it could kill your business.

Commercial property insurance

If you own a building, the benefit of property insurance is obvious, but what about if you are a renter or have a home-based business?  Commercial property insurance covers much more than just the physical building, it covers the things you need to do business. Depending on the type of business you have, it could be machinery, tools, display units, raw materials, office equipment, electronics, or inventory. If you don’t have these, you can’t do business. 

Worker compensation insurance

In North Carolina, if your business has three or more employees, you must protect them with workers’ compensation insurance. It is good for businesses and employees. 

Contact Steiner Insurance Group in Nashville, NC to get your questions about commercial insurance answered. As an independent insurance agency, we will offer you our full attention. 

Why Bother with Commercial Insurance?

While owning a business in Nashville, NC is exciting, you have to contend with uncertainties lurking in the business environment. However, acquiring proper commercial insurance from Steiner Insurance Group agents will ease the operation of your business and protect against numerous perils. 

Commercial insurance is designed to help businesses stay protected against imminent perils that may jeopardize their success. Unfortunately, some business owners chose to overlook commercial insurance for their business. This trend is catastrophic since one blow can wipe out your business finances. That said, here are the reasons you need to think about commercial insurance. 

For compliance

If you have three or more employees in your business, you must carry workers comp coverage in North Carolina. Additionally, all business-owned vehicles must be covered by commercial auto insurance. Failure to buy the minimum-required commercial insurance exposes your business to non-compliance penalties. 

Protection of workers

If your employees get injured or sick while working on your premises, workers’ comp helps cover medical expenses. Besides, this policy covers employees’ funeral costs and partial loss of income.

Protection of assets

Damage to the business property can trigger devastating impacts on your business’s ability to function properly and sometimes result in a shutdown. As such, it’s paramount to protect your business against perils like vandalism and fire with commercial property insurance.

Liability protection

General liability coverage covers versatile situations, including a client’s injuries while on your business premises. Besides, it covers property damage and advertising injury claims from third parties. 

Saves money

Getting outstanding commercial insurance salvages you from paying out-of-pocket when unexpected eventualities like liabilities, injuries and damages on your business property strike. This way, you operate your business without fear of indulging in adverse financial impacts.

Having commercial insurance is a cornerstone for any business in Nashville, NC. If you have any queries regarding the procurement of splendid commercial insurance, call or visit us at Steiner Insurance Group.

How can commercial insurance protect my business?

Owning a small business is a dream and goal that a lot of people share. When you are looking to start your own business in the Tusla or Norman, OK area, it is vital that you protect it as well as you can. One of the best ways to protect a business is by getting a full commercial insurance policy. This type of insurance offers several forms of coverage that could prove valuable for your company.

Protects Against Liability Risk

One way that your business can be protected is by providing you with protection against liability risk. Anyone that offers a service or product to a customer will routinely take on liability risk. If you are deemed liable for a bad accident, you could be facing serious settlement costs. Fortunately, with commercial insurance, you can receive protection against this risk.

Protects Business Assets

Another reason that you should get commercial insurance is that it can protect your business assets. A business owner is going to have to invest some capital to build inventory and buy other assets. When you get the right insurance in place, you can protect these assets. With insurance, you will be covered for costs needed to repair or replace these assets following damage or theft. 

As you are looking for a commercial insurance policy in the Tulsa or Norman, OK area, it is important that you receive guidance and support from someone that is experienced and truly understands this unique form of insurance. The team at the Steiner Insurance Group can offer you the support that is needed to choose the right policy for your situation. The Steiner Insurance Group is able to do this by carefully assessing all of your needs and helping you build a policy that is curtailed to your necessities. 

Three things to know about commercial insurance and taxes

One of the many important things to be aware of with commercial insurance in Norman, OK is how premiums impact your company’s tax liability. Most of the commercial insurance premiums you pay to insurance providers like Steiner Insurance Group can be written off on your company’s tax return.

The following are three things you need to know about commercial insurance and taxes. 

You can write off commercial insurance premiums as a business expense

Commercial insurance premiums are classified as an ordinary business expense. This means that they can be deducted from a company’s gross revenue in determining tax liability. This also means that paying commercial insurance premiums helps to bring down a company’s overall tax liability for the year.

You can’t deduct commercial insurance premiums already paid for future years

Business owners may sometimes pay their commercial insurance amount upfront for several years in advance. For example, a business owner may purchase a two-year policy and pay for it all at once.

However, the full amount for the two-year policy cannot be deducted the first year. The business owner can deduct half of the policy’s cost on the first-year return and the other half the next year. 

You cannot write off the money you put into a reserve fund for self-insurance as a deductible

Some business owners prefer to take care of their insurance needs by setting aside a reserve fund that allows them to be self-insured. However, this method of insuring one’s company does not offer the same tax advantages as paying commercial insurance premiums. Money that is put towards such a fund cannot be deducted as an expense on a business’s tax return. 

If you have any questions about how commercial insurance impacts your business taxes in Norman, OK, contact us at Steiner Insurance Group to learn more. 



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