Many business owners ask "Do I really need commercial insurance?". The answer is "Yes, you do". If you are a responsible business owner, and you want to protect your company, yourself, and your employees, having proper commercial insurance is a must. Unfortunately, choosing the right commercial insurance policy can be complicated because of many misconceptions about this type of insurance. In this article, we will list some common myths related to commercial insurance and debunk them.
Common Myths About Commercial Insurance
- Your home-based business is covered by your home insurance. Many business owners believe that it is enough to have homeowners’ insurance to protect their business that they run from home. However, a home insurance policy applies to your home only. It may provide some kind of coverage, but it is very limited and is not enough to protect your business. Therefore, if you operate a business from home, you should purchase separate commercial insurance.
- Carrying workers’ compensation is not necessary if you have no employees. Even though the primary purpose of workers’ compensation is to protect employees, even if you do not have any, it is still worth carrying it as additional protection for your business and you as a business owner.
- Commercial insurance protects you against all types of damage, including damage caused by flooding. Unfortunately, the truth is that in order to protect your commercial building against floods, you will have to purchase additional flood insurance.
Knippenberg Insurance Inc. serving clients in Cumberland, MD – We Help You Get Insurance You Need
If you run your business in Cumberland, MD and you are looking for a commercial insurance policy to protect your business, Knippenberg Insurance Inc. will be able to help you find a policy you need. Feel free to give us a call to get more information about the coverages we offer and find a policy based on your needs and budget.