Owning a business in Washington comes with a lot of rules and regulations, and one of those is the type of commercial insurance that your business must have. There are two types that are mandated, and there are several more that are very helpful to business owners without being required by the state. If you have a business in Washington and you need commercial insurance, call us at Sound Choice Insurance Agency Inc in Lynnwood, WA.

Workers’ Compensation

This type of insurance is required for most businesses that have any number of employees. They can be part-time or full-time, and there can be just one of them, and the insurance is mandatory, though there are a few exceptions to this law. In Washington, workers’ compensation insurance is purchased directly from a state fund rather than from an insurance company. When an employee is covered by workers’ comp insurance, there is protection for your business in case a worker has an accident while working. The policy pays for the medical bills so that your business doesn’t have to. 

Commercial Auto Coverage

This insurance type covers a vehicle that is owned by a Washington business. There are three types of coverage that are required to be in the auto policy, and there are required minimums for each type. The state requires a certain amount of bodily injury liability coverage for one person who is injured in a vehicle accident. There is another required amount for everyone who is injured in a vehicle accident. Another amount is mandated for property damage liability. All of these amounts are fairly low in Washington, so it’s often recommended to get more than the minimum amount of coverage. 

Commercial Coverage

If your business doesn’t have the insurance that it needs, call us at Sound Choice Insurance Agency Inc in Lynnwood, WA.

Those that are in the Lynnwood, WA area may find that this is a great place to own a business. The strong local economy and overall support for local business can provide a significant boost. As you are looking to build a business here, choosing the right insurance plan continues to be very important. There are a few reasons why having the proper commercial insurance will continue to be beneficial to businesses. 

Coverage is Required for Companies

A common reason that businesses here need to have a commercial insurance plan is that they will be required to have this protection. Businesses that are in Lynwood area may take out a business loan, raise money from investors, or even lease a building to operate out of. In all of these cases, it is very likely that they will sign agreements requiring the business to carry insurance. 

Coverage Protects Business Assets

You should also get a commercial insurance plan to ensure you have protection for your company’s assets. If you are going to purchase any assets for your organization, it will be very important that you ensure they are covered and protected. If you have a proper insurance plan in place for your organization, it will provide support to replace or repair these assets if you do incur some forms of loss. 

As you are evaluating your commercial insurance needs and options in the Lynnwood, WA area, you may find that there are a lot of tough choices to make. Fortunately, the team with Sound Choice Insurance Agency Inc can help to make it easier for you. The insurance team with Sound Choice Insurance Agency Inc will be able to explain all of your coverage options and offer any support needed to build an ideal plan. 

At Sound Choice Insurance Agency Inc., it’s our dream to see every Lynnwood, WA business thrive while being protected from the inherent risks lurking in the business environment. For this reason, we provide various commercial insurance options to ensure that businesses can get off the ground even when the unthinkable happens. But because commercial insurance can be a challenging topic to many small business owners, we have prepared insights to help you understand this coverage better.

Here are things you need to know about commercial insurance to help you get the most out of this insurance plan.

Some commercial insurance coverages are mandatory

Washington State requires business owners to maintain commercial auto insurance and workers’ comp insurance if they have employees. Failure to carry the state-required commercial insurance minimums could result in possible civil and criminal penalties.

Commercial insurance is more than liability coverage

Though every business is susceptible to suits and third-party claims, there is more to commercial insurance than liability coverage. Below are some additional business insurance options to consider for your business for optimal coverage:

• Commercial property insurance
• Cyber insurance
• Professional liability insurance
• Business income insurance
• Business umbrella insurance

Whereas many commercial insurance options exist, please talk to your agent to help you choose those options that meet your needs.

Commercial insurance has exclusions

While business insurance covers you against several perils, not every incidence is covered. For instance, flood damage may not be covered by typical commercial insurance. Additionally, when you use a personal car for business reasons, it may not be covered in case of an accident. 

Rates differ from one business to another

Insurance companies consider different factors when computing your commercial insurance rate. Some factors include:

• Size of your business
• Claim history
• Location of business
• Number of coverages
• Nature and risk profile of your business

Would you like to purchase commercial insurance in Lynnwood, WA? Whether renewing or shopping for new business insurance, you can’t wrong with Sound Choice Insurance Agency Inc. Contact us today! 

Lynnwood, WA area business owners that are just starting out may find the task of obtaining the correct commercial coverage for their needs rather daunting. That’s where Sound Choice Insurance Agency Inc comes in. We are proud to serve the insurance needs of the local business community and look forward to guiding our clients through the often confusing process of selecting an appropriate commercial policy. 

Not all commercial policies offer the same protection 

Every business is different, and those differences are often reflected in their insurance needs. If you carry a lot of inventory or utilize a lot of technical equipment, your policy needs will vary from a business that is more service-oriented, such as a delivery service. However, no matter what type of business you may have, it is important to select a commercial policy that protects as many aspects of your company as possible.

There are basic policies as well as more robust and comprehensive options. Working with a registered agent is the most effective way to ensure that the commercial policy that your company chooses provides appropriate coverage at the right level of protection. There is no reason to not take advantage of all the available features to give your company the protection it needs. From vehicle fleet protection to business interruption coverage there is likely a policy that can serve your needs very well, no matter what they may be. 

Let us help you review your commercial coverage options

If you are a new business owner in the greater Lynnwood, WA area, contact Sound Choice Insurance Agency Inc today. We can help you review your business needs and help you find the policy that provides the protection you need. Call and schedule a consultation today!

The Lynnwood, WA area continues to be a very popular place for people to live and visit. This has led to a consistent level of population in the area and demand for new businesses, which makes it a great place to start a new company. When you are going to start a business in this area of Washington, you should spend time carefully assessing all of your insurance needs. There are several reasons why a business here would need a commercial insurance policy.

Insurance Protects Business

The primary reasons a business will need commercial insurance is that it will protect the business. With a full commercial insurance policy, you will receive coverage for your business assets and liability protection. Both of these types of coverage will prove to be extremely valuable if you ever suffer from a covered loss.

Insurance is Often Required

You may also need to get commercial insurance because it could be a requirement for your business. Many business owners today have different insurance obligations that need to be met. Some situations when they will need insurance is if they have raised money from outside investors or have taken out a business loan. These stakeholders typically have specific requirements, which will protect your company and its investment. 

Picking the right commercial insurance policy for your Lynnwood, WA business is a big decision. As you are looking for a new insurance policy here, it is very important that you speak with someone that you can trust. The team at Sound Choice Insurance Agency Inc can offer you sound guidance that will help you build a policy that is right for your business. Sound Choice Insurance Agency Inc is able to do this by working hard to understand your business and risks and building a policy that mitigates them as well as possible. 

You need to invest in commercial insurance to protect your livelihood. Unfortunately, many business owners experience devastating consequences because they failed to invest in commercial insurance and unexpected expenses came up.

At Sound Choice Insurance Agency Inc, we provide commercial insurance in Lynnwood, WA. The following are three mistakes you need to avoid when you buy commercial insurance in Washington. 

Failing to read the fine print on your policy

You should definitely set time aside to read through your policy details. This way, you’ll understand what you’re eligible to file a claim for. Unfortunately, some business owners aren’t aware of everything their policy covers and therefore don’t file a claim when they are eligible to do so. 

Not purchasing coverage for possible revenue losses

One type of commercial insurance available covers revenue loss from various events. This is a very important type of insurance to invest in.

You never know when an accident or setback can come up that significantly reduces your income under the expected level. That’s why it’s so important to invest in the business interruption or business income coverage. 

Keeping the exact same policy despite significant changes at your company

Business owners should periodically reevaluate their business insurance needs. As your company grows, you need to reconsider what your financial risks are. You’re probably going to face more risks and need more commercial coverage as your business expands. 

Every time your policy terms comes to an end, set some time aside to reevaluate insurance needs. Invest in more coverage as necessary to ensure continued success. 

Get started finding the right commercial insurance solution with our help at Sound Choice Insurance Agency Inc. Contact us today to insure your Lynnwood, WA business. 

We don’t need to emphasize the importance of commercial to every business. Most business owners are aware of that. Rather, we will give you a few reasons to review your commercial insurance. The best time to review your commercial insurance is in spring. 

At Sound Choice Insurance Agency Inc in Lynnwood, WA, we see a spike in business insurance claims during the spring season. We know how disheartening it can be for you to file a claim only to find out that the situation for which you are filing a claim is not even covered in your existing commercial insurance policy. 

This is why we encourage our clients to review their existing policy regularly, starting from this spring. Here are a few reasons why the review is a must.

Business expansion

It is every business owner’s dream for their business to expand. How does a business expand? It is by offering more products or services, by hiring more people, by purchasing more tools and equipment, and by extending your coverage areas.

When you undergo any of these expansions, your business may be under-insured if you don’t review your policy. For instance, if you run a construction company and you recently purchased heavy machinery, chances are good that your existing commercial insurance policy does not cover your latest acquisition. If the equipment gets damaged or burnt, you’ll be on your own. So, you should review your policy.

New location

Insurance laws vary from state to state. If you open a branch office in another state, it is necessary to review your policy to cover your offshore business properties. That’s one leg of the review. For the other leg, your policy has to be in line with the laws in the other state in terms of business insurance.

Better cost 

You need to review your insurance policy to get better deals. You may be entitled to certain discounts. Also, the cost of your existing policy may have gone down slightly. You may not be able to take advantage of the discounts or new deals without a review. 

For more information on commercial insurance, you can hit us up at Sound Choice Insurance Agency Inc in Lynnwood, WA. 

Commercial insurance works to protect your business in Lynnwood, WA from financial ruin in the instance of the unexpected happening. You should understand the tenets of a good assurance plan before you need to take advantage of its benefits. Unfortunately, though, many business owners do not give enough credence to commercial insurance and, thus, find themselves in a bind when tragedy strikes and policy limits leave them with outstanding balances. 

The agents at Sound Choice Insurance Agency Inc work to get your company fully protected so that you are ready when the unthinkable manifests. Read on to learn about commercial insurance policy limits and how much assurance your business may need!

What are commercial insurance policy limits?

Your business assurance plan in Lynnwood, WA is not absolute. Just as with a car insurance policy that imposes maximum limits for payouts, so also does your commercial indemnity plan. The amount of compensation you receive from your policy after tragedy strikes largely depend on your premium. Those who pay higher amounts for coverage may find that their policy pays for more damages that those who pay the bare minimum in premium amounts every month. 

Bigger, however, is not always better. Some business owners find that they do not have the protection they need even with high monthly premiums. It is important, then, to discuss the nature of your business with a specialist from Sound Choice Insurance Agency Inc to ensure that your indemnity plan is the right one for your situation. 

How much commercial insurance do you need?

The amount of business assurance your company needs depends on the type of business that you carry out during the day. Those with retail companies may find that they need more coverage for incidents because of the flow of customers throughout the workday. Meanwhile, those with Internet-based companies may not need as much assurance in the way of physical liability. It may be essential, however, to have an indemnity plan that pays for lawsuits related to intellectual property. 

An agent at Sound Choice can help you navigate the way of commercial insurance. Call them today for a consultation and to get started with a quote!

Your dream car might be brand-new, but for many, it’s a classic from the early days of automotive. Model Ts or an old school Packard prove popular to some. Others prefer a 1950s roadster or 1960s muscle car. These vehicles, known as antique or classic cars, require classic car insurance. Sound Choice Insurance Agency Inc of Lynnwood, WA wants you to understand the special requirements of this necessary auto insurance policy.

This insurance type covers vehicles built 30 years ago or more. Since their owners tend to not use these cars for regular use, the policies to cover them cover limited mileage and other conditions.

• Driving the vehicle: The owner is covered to drive the collectible car to car shows, in parades and other special, limited uses. Policies limit annual mileage to 1,000 to 5,000 miles.
• Storing the vehicle: These policies require the owner to store the classic car in a fully enclosed, locked garage.
• Value of the vehicle: Ask which type of coverage you’re buying. An agreed-value policy pays the full amount on the policy if the car gets totaled, less deductible. A stated value policy interprets the vehicle value at the time of the accident/claim.
• Condition of the vehicle: It is easier to insure a classic car in excellent condition than one in good or poor condition. You can still get insurance while restoring an older vehicle.

Get the classic car coverage your vehicle needs. Call or visit Sound Choice Insurance Agency Inc of Lynnwood, WA to learn more and find the right classic car policy for your vehicle. We can help you obtain the coverage you need.

It’s a beautiful country and the residents of Lynnwood, WA know that more than any other outdoor enthusiast. At Sound Choice Insurance Agency Inc. in  Lynnwood, WA our knowledgeable staff of professional insurance agents will help you understand exactly how to best utilize your motor home insurance policy as the reassuring tool that it is. As you’re taking in the sights of beautiful Washington state and the surrounding areas you do not want to have to consider exactly what you’re covered for in case of a mishap or an accident. Motor Home Insurance is different from auto insurance in that it is protecting your motor home. However, the keyword is "motor". You will be driving this particular home. So, as a result, your motor vehicle record is taken into account including whether you have motor vehicle infractions. There are other factors that are taken into account when evaluating your risk for obtaining motor vehicle motor home insurance as well.  Similar to your auto insurance coverage, a good motor home insurance agent will explain to you how the following factors affect your policy: the storage of the motor home,  your gender, your marital status, your credit score, your driving experience and, your age. 

At Sound Choice Insurance Agency Inc our name speaks for itself. We are what makes sense in protecting you and your family when it comes to insurance. We serve the following states Washington, Alaska, Arizona, California, Colorado, Georgia, Idaho, Michigan, Montana, North Dakota, Nevada, Ohio, Oregon, and South Carolina. In addition to motor home insurance packages, we offer automobile insurance, home insurance, umbrella insurance, restaurant insurance, classic car insurance, renters insurance, condo insurance, flood insurance, business insurance and boat and watercraft insurance.  We are located at 19009 33rd Ave. W. Suite 310 in Lynnwood 98036. If you prefer, call us today at 425–333-8033.