If you are wondering if your small business needs commercial insurance, the answer is probably yes. 44% of small business owners don’t have any business insurance. Choosing commercial insurance can be confusing, but Knippenberg Insurance Inc. can help you determine what’s best for your business in Cumberland, MD.
Why Do Small Businesses Need Commercial Insurance?
Insurance is designed to protect your assets from the unexpected. Commercial insurance can protect your business from liability claims and property damage. Each year, between 36%-53% face some litigation. A judgment against you can put your business and your personal assets at risk.
It’s also important to protect your assets from damage and theft. Business assets can be expensive, and you may not have the money to replace them in the event of a loss. This includes the building where you conduct business, inventory, and equipment related to your business.
Common Types of Insurance for Small Businesses
General liability insurance is a policy every business owner should have. This protects you from litigation or liability if your business causes property or bodily damage to a third party. This includes your products, services, employees, and yourself. It only covers accidental damage to protect you from any intentional harm caused by your business.
Property insurance offers liability protection and protection for your assets. This includes your property and assets on your property. If your business is home-based, your homeowner’s policy may not provide complete protection for your business assets.
Commercial Insurance at Knippenberg Insurance Inc
At Knippenberg Insurance Inc in Cumberland, MD, we offer many commercial insurance policies. Our agents will speak with you about your business needs and select the right policies for your business.