Business 101: 7 Reasons to Have Commercial Insurance

Commercial insurance protects your business from unexpected loss. It may even save your business from a disaster. This type of insurance gives you the peace of mind to focus on your business instead of trying to anticipate possible mishaps (Source: Anthony Clark Insurance Ltd.). Here are 7 reasons why you should consider getting a commercial insurance policy:

1. It can give you comprehensive coverage. When you elect a comprehensive commercial insurance policy, you will cover any forgotten or unattended details.

2. A single accident can ruin your business. Accidents, by definition, can’t be predicted. Regardless of how conscientious you and your staff may be about your business, unexpected things can happen—perhaps, a malicious, former employee may sabotage your business or a customer may slip on a wet floor.

3. Protection from liability. In today’s economy, sometimes people may sue you just because your business is doing well. Problems in delivery, contracts that go awry, and errors and mishaps are reasons that people can come up to sue your business.

4. Handle exclusions. Although your current business insurance may appear to have you well-covered, there is always the possibility that there is something you or your insurance agent has overlooked. Commercial insurance will cover these exclusions.

5. A corporate status may not be enough protection. Although your business may be protected by many liabilities because of its corporate status, there may be those rare occasions when you are not fully protected and open to liability.


6. You can’t watch your business all the time. As a business owner, you can’t always keep an eye on everything going on in your business. During weekends, evenings, or vacations, a careless employee error could result in a theft or other disaster. With the right coverage, you won’t lose control even when you are not at your business.

7. The other party may not be insured. Sometimes an accident may be caused by another party on your premises. In most cases, their insurance would cover it. However, they may not actually have insurance, which puts you in a bind.

Be Secure, Create a Prosperous Future

As a business owner, you work hard to build your company. Why take the risk of having an unexpected event ruin your business, career, and life? Commercial insurance will give you the coverage you need to protect your business from unexpected losses.

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