Frequently Asked Questions

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At Rogue Risk, we help you “Win” the insurance game by focusing not just on the cost of insurance premiums, but your Total Cost of Risk.

Our proprietary process allows your business to cut costs and free up cash flow while maintaining the insurance coverages you need to sustain your business.

In most states, your business needs certain coverages, like workers’ compensation insurance and unemployment insurance, to operate. Liability insurance is also important because without it, you’d have to pay out of pocket for any legal claims filed against you. 

Below are the most frequently asked questions we receive about commercial insurance.

What are the Different Types Of Commercial Insurance?

Business insurance, also known as commercial insurance, helps protect business owners from unexpected losses. There are many types of insurance for businesses, including coverage for property damage, legal liability and employee-related risks. If your employees suffer work-related injuries or illnesses, business insurance can replace most of their missed wages and help them get back to work. 

  • General Liability Insurance – can help protect you, your employees and customers in the case of an accident.
  • Commercial Property Insurance – can help protect your company’s physical assets, such as your building, furniture, equipment and inventory. You can get commercial property coverage even if you work from home.
  • Business Owners Policy, or BOP – is a combined package of different coverages, such as property, liability, crime coverage and more. A BOP can help you get a customized policy tailored to your specific needs.
  • Commercial Auto Insurance – can protect your business and employees from a variety of damages and accidents related to the operation of vehicles.
  • Crime Insurance – can protect your business from crime-related losses such as theft and forgery.
  • Business Income Insurance – can help pay bills and cover costs if your business has to close temporarily.
  • Commercial Umbrella Insurance – can provide your business with extra protection beyond your standard liability policy.
  • Cyber Liability Insurance – can help protect your business from damages related to electronic data, computer systems, data breaches and even computer attacks.
  • Equipment Breakdown Insurance – can protect your business from damages and costs related to computers, electrical and mechanical equipment breakdowns.
  • Business Interruption Insurance – can pay for lost income and help keep your business afloat if external forces cause you to close for a short time.
  • Workers’ Compensation Insurance – can protect your employees in the instance of a work related accident.

What Does Business Insurance Cover?

Business insurance can help pay the costs of property damage, lawsuits, lost business income, and other covered losses. To help protect against specific risks unique to their situation, businesses often buy multiple coverages and combine several in one policy.

Among the most popular business policies is a Business Owner’s Policy (BOP). A BOP generally includes business property, general liability and business income coverages in one policy. Combining these coverages can help save you money and it’s convenient. Insurance helps protect from the cost of bodily injury or property damage claims against your business. 

For example, a customer may make a claim against your business if he is injured in your store. General liability can help cover you against the costs of the claim and potential defense costs. It also helps protect your business from the costs of errors in your advertising.

How To Calculate Business Income Coverage

Calculating your business income starts with reporting your gross receipts or sales. This includes all items and services you sell at your business. For example, say you sell computer equipment. Every item you sell would be included in this starting calculation. If your business makes or buys goods to sell and maintain inventory, you should deduct the cost of goods sold from your revenues. You should do this when computing your gross profit from your business. Keep in mind that any income you receive that relates to your business is considered business income. That said your business’s sales will constitute most of your business’s income.To start your calculation follow these steps: 

  1. Calculate your total revenue.
  2. Subtract your business’s expenses and operating costs from your total revenue. This calculates your business’s earnings before tax.
  3. Deduct taxes from this amount to find you business’s net income. Your net income will be your business income.

The equation for business income is: Business income = revenue – expenses

What Is Commercial Property Insurance?

Commercial property insurance is a key coverage for business owners, especially if you run a home-based business. Also known as business property insurance, this coverage provides more coverage than your homeowners insurance. It helps protect your business’ physical location and property, including your: 

  • Tools
  • Equipment
  • Inventory
  • Furniture

You can get this insurance through our Business Owner’s Policy (BOP) or as a standalone policy. If a covered loss damages your business’ physical assets, commercial property insurance can help cover your repair or replacement costs. This coverage can help your business if: 

  • A fire leaves your computers damaged or destroyed
  • Lightning strikes the building you lease
  • A fire causes damages that restrict you from opening

It also helps protect other business assets, such as your: 

  • Accounts receivables
  • Computers
  • Lost income if you can’t operate because of a covered loss

You can add more protection to your policy for things like valuable papers and records. This can help cover your costs to: 

  • Reproduce important documents
  • Provide temporary storage
  • Move records to avoid a loss

What Are The Benefits Of Business Insurance?

You’ve invested in your small business. You’ve put energy and effort into getting it started and opening the doors. Protecting your investment is an important element in helping ensure you have a successful business. 

Business insurance can help protect small business owners from property damage and liability claims. Running a business involves risks that are both expected and unexpected. There are different types of insurance that can help businesses. 

Each type of business insurance helps protect you and your business in different ways. Whether it’s property damage, giving your employees benefits if they get sick or hurt from their job, or covering the costs to help your business recover from a data breach, The Hartford’s business insurance helps businesses prevail through the unexpected. 

Most businesses start with general liability protection, commercial property, business income, commercial autoworkers’ compensation, and professional liability coverages.

How Does Commercial Auto Work?

Your employee is driving a business car to make a delivery to a customer. On the way there, he ends up rear ending another car and causing significant damage. In addition to the physical damage, the other driver sustained injuries and has to be transported to the hospital.

commercial auto insurance policy can help cover the property damage and medical costs from this accident. If you didn’t have coverage, your business would be responsible for covering the costs.If you or your employees use your own cars or company vehicles for business purposes, consider getting a commercial auto insurance policy. 

It can help pay for the financial costs that result from an auto accident if you or an employee is found at fault – even in the event of a fatal accident. A commercial auto insurance policy can help protect small business owners and their employees in many ways. These include: 

  • Driving between different work locations
  • Visiting existing or potential customers
  • Driving employees around town
  • Performing deliveries on behalf of the business

How Much Does Business Insurance Cost?

For business insurance, count on spending as much as 20 to 30 percent of gross sales as a general rule of thumb, for comprehensive coverage that includes primary business coverages and employee health and life insurance benefits. 

But costs can vary widely depending on the types of coverage selected and a variety of risk factors specific to the particular business being insured.  Business insurance can help pay the costs of damages claims against your business in the event of an accident. 

Without the right type and amount of business insurance, you may need to pay those costs out of your own pocket. In most states, there are certain requirements for the types of business insurance a company must have. 

For example, most states require businesses with employees to have Workers’ Compensation insurance. Most states require businesses with employees to purchase Workers’ Compensation insurance. If you or your employees will be driving for work purposes, you’ll probably need commercial auto insurance as well. 

A general liability insurance policy may also be necessary as it helps cover the costs of property damage and injury claims caused by your business.

Are you ready to save time, money and reduce your total cost of risk?

Click the button below to get the process started. It’s simple and fast.


(518) 960-6600
24 4th Street, Troy, NY 12180

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