Three misconceptions about commercial insurance

Neglecting to invest in adequate commercial insurance coverage is one of the biggest mistakes you could make as a business owner. Unfortunately, many business owners aren’t adequately covered because they have certain misconceptions about commercial coverage.

The following are three common misconceptions about commercial insurance that you need to be aware of as a business owner. 

You only need commercial insurance if you have employees working for you.

While worker’s compensation coverage is one of the most important types of commercial insurance to carry, you still need commercial coverage even if you have no employees.

Sole proprietorship operations still have liability issues to deal with, as well as property and commercial auto coverage needs, even if they don’t have any employees. You shouldn’t assume that you don’t need commercial coverage simply because you have no employees. 

Only large companies need commercial insurance coverage.

Many business owners forego commercial coverage, assuming that their commercial operation is too small to need it. However, it’s never a good idea to assume that your company is too small for commercial coverage. Even small companies can face enormous expenses as the result of lawsuits and other problems that can come up. That’s why commercial operations of all sizes need insurance coverage. 

Home insurance or auto insurance covers business operations.

If you’re running a business out of your home or using your personal vehicle for commercial purposes, your home or auto insurance won’t cover your commercial operations. You need to invest in commercial insurance to protect your operations in these situations. 

Being informed is essential when it comes to making the right decisions about your commercial insurance coverage. At the Insurance Center of Green Valley, we offer commercial insurance coverage in Green Valley, AZ. Contact us to find the right commercial insurance solutions for your company.