As a business owner, you have to wear many hats to make sure that your business runs efficiently and smoothly. And that includes protecting your business and your employees against damages and losses. However, when you are shopping for commercial insurance, it is important to be aware of the misconceptions about it that can cloud your judgment when making an important decision. Western Insurance Associates serving Spokane, WA has prepared the list of myths about commercial insurance that need to be debunked:
It Is Not Necessary To Have Commercial Insurance For A Home-Based Business
Many people mistakenly believe that if they have a home office, their business and its contents will be covered by standard home insurance. However, the truth is that anything pertaining to your business requires additional coverage.
General Liability Will Cover All Possible Risks
Unfortunately, general liability insurance is not a one-size-fits-all solution for all risks related to business operations. Even though it provides comprehensive coverage, it cannot protect your business from every single claim.
Commercial Insurance Will Cover Damages Caused By Flooding
Another common misconception is that commercial insurance protects businesses against damages due to flooding. However, in reality, business insurance does not always cover this type of damages, and you may have to get a separate flood insurance policy.
Commercial insurance is more than just another type of insurance – it is a guarantee that your business, employees, and you, as a business owner, are protected against different risks, including cyberattacks, fires, lawsuits, and others. If you are currently shopping for commercial insurance and looking for a trustworthy insurance agency, Western Insurance Associates serving the clients from Spokane, WA, and other surrounding areas is ready to help you. Do not hesitate to give us a call and talk to one of our agents.
