A Guide to Your Small Business Insurance Needs


Running a small business is not an easy task. In other words, it can be time consuming and stressful. Being a business owner means you are responsible for a lot of things and a lot of people. Therefore, it is important you have the right business insurance policies in place to protect what you have worked hard to create. Find below a guide to understanding different types of business insurance and why they are important.

Types of Business Insurance

  1. Business property insurance – this type of insurance protects your business in the case of natural disaster, theft, fire and certain types of water damage.
  2. General liability insurance – coverage for claims involving bodily injuries including legal fees, medical fees, and property damage.
  3. Professional liability insurance – this will kick in if a customer sues you for financial harm in the case of errors and mistakes, undelivered services or substandard services.
  4. Commercial auto insurance – if your operations include using trucks, delivery vehicles, private passenger vehicles, etc then you should have a commercial auto insurance policy for your business.
  5. Life insurance – life insurance provides financial security to your loved ones if you were to pass away. As a business owner, consider what would happen to your business and your family if something were to happen to you.
  6. Equipment breakdown coverage – if you rely on major pieces of equipment to run your business and serve your clients then this type of insurance is important.
  7. Business owners package (BOP) – this is a package deal that can save you money. It combines liability and property insurance.

Specialized Agents at Colonial Insurance Agency

By working with an independent agent at Colonial Insurance Agency, you have the peace of mind that you are working with a specialist in this area. Above all, your best interest is our top priority. There is not a once size fits all policy and therefore it’s important to have someone who is evaluating your specific business’ needs. For example, finding yourself in a claims situation without the correct coverage can be detrimental to your company.

Colonial Insurance Agency has agents who specialize in commercial insurance, among other things. We know how important it is to protect your business and we will help make sure you have the right coverage in place.

Do I Need To Maintain Insurance On My Boat, Motorcycle Or RV During Winter?


With fewer boat, motorcycle or road trips in the RV happening in the fall and winter months, many wonder if they need to maintain insurance on these vehicles when they aren’t being driven. There are many different scenarios that warrant keeping these vehicles insured year-round so let’s take a closer look at these.

Weather Related Damages: Weather is especially nasty in the winter months so keeping your boat protected from covered weather-related damages is important. Even when stored, lightning, wind and hail can occur.

Physical Damages: It seems strange that you may be subjected to a property claim when your vehicle is not being used. However, take this simple example: You have a house party and someone wants to sit on your bike. During which, they accidentally knock it over denting your custom painted tank and scratching the paint. Your home insurance will not cover this.

Theft & Vandalism: If someone decides to steal your boat, motorcycle or RV in the winter months, you need coverage to cover the loss. Thefts occur everywhere, so even if in a secured area, vandalism can occur. Unfortunately, thieves don’t mind bad weather.

Fire: If your boat, motorcycle or RV is stored in your home or garage and there is a fire, your home insurance will not pay for damages to your vehicle. Instead, you will need a comprehensive insurance policy to cover these damages.

Financing: If you finance your boat, motorcycle or RV, your lienholder will require you to maintain insurance to protect the investment.

Multi-policy discounts: If you insure your boat, motorcycle or RV with your home or auto insurance company, you may be eligible for multi-policy discounts. By removing your insurance on your vehicle, you will raise the cost of your other policies.

Owning a boat, motorcycle or RV is a great experience for most. Don’t turn the joy of boat, motorcycle or RV ownership into a nightmare by trying to cut your insurance costs in the off-season. Protect your vehicle year-round and enjoy greater discounts on your other insurance products by bundling them together. For a quote on your insurance, contact us. We represent the best insurance companies and can quote you different coverages, rates and apply for special discounts.

How to Save Money on Car Insurance


Insurance can be tricky. For example, you want to get the best rates, but you also want to be properly covered if something were to happen. How do you know if you have the right policy? As an independent insurance agency we have options to shop our different insurance companies for you in order to find the best coverage at the best rates. Since we’ve been in the insurance business for over 30 years, we know insurance. Therefore, we thought we would round up a few tips and tricks on ways to save money on your car insurance.

Car insurance cost saving tips and tricks

1. Multi-policy discounts – insurance companies offer multi-policy discounts if you bundle different types of insurance like home and auto with the same company

2. Multi-car discount – have more than one car that needs to be insured? There are discounts if you have multiple cars with a single provider.

3. Payment – there are potential discounts if you automate payments or go paperless

4. Good-driving discounts – Do you have a good driving record? There could be discounts if you have a certain amount of accident-free or claim-free years.

5. Car type – the type of car you drive will affect your car insurance cost. New cars and hybrid cars typically have lower car insurance premiums and if your car has safe driving technology that could also help you save.

6. Good-student discounts – potential good-student discounts based on the students GPA and other factors.

Talk to a professional about your insurance

At Colonial Insurance Agency in Menomonee Falls, it is our goal to simplify insurance for you. We want to protect you and your family while also helping you get the best rates on your car insurance and other insurance needs like home, life, and business. Learn more on our website or contact us today and we would be happy to help.

It’s important to remember that insurance can be complicated. Sometimes the least expensive policy is not the best for your situation and would be detrimental to you if you find yourself in a claims situation. Make sure you have the proper coverage in place.