To make sure your business in Lexington, MI, is protected, it helps to know more about commercial insurance so you don’t give in to these myths.
- Home Insurance Covers Home-Based Business: Your home insurance is not enough to protect your home-based small business. It would be best if you had proper business insurance that meets your business’s needs to ensure that your operations are protected against a variety of claims. An agent at North Coast Insurance Services can get you started.
- General Liability Covers Every Possible Risk: General liability is needed, but it’s not a one-size-fits-all solution for all business-related risks.
- Employees Drive Their Own Cars So You Don’t Need Commercial Auto Insurance: Many personal auto insurance policies don’t cover any losses when a vehicle is being used for business purposes. As a business owner, your employees must know what personal policies cover and don’t. There are different advantages to commercial auto insurance, including coverage for GPS equipment and rental vehicles.
- The Business Is Too Small for Insurance: Even if your business is small in Lexington, MI, it’s not just businesses with deep pockets that should be concerned about being sued. Anyone can be sued. If you are found liable for damages and can’t pay, wages can be garnished, and bank accounts and assets seized.
- Property Insurance Isn’t Needed if Operations Are Done in the Client’s Area: Some owners think the work is in the client’s area, using the client’s equipment and tools, that they don’t need property insurance. Coverage for property insurance varies. Companies should find a policy that suits their needs.
- You Don’t Need an Insurance Agent: Some owners don’t get professional advice when choosing their business coverage. Since there are so many different coverage variations, it’s best to speak with a qualified agent to find the right coverage for your business.
Contact North Coast Insurance Services to get a quote on commercial insurance.