Operating your own business is a challenging task. It is also one of the most expensive investments in your life that will need special protection. The best way to protect your business, yourself as a business owner, and your employees are by getting a commercial insurance policy. However, choosing the right commercial insurance policy is not easy, especially when there are so many myths about it. Here is a list of the most common misconceptions about life insurance prepared by Insurance Protection Specialists serving Flowood, MS:
Myth 1: Yo do not need commercial insurance for your home-based business
If you work from home and your office is in your house’s basement, it does not mean that you do not need business insurance to protect it. Your home as a building and all your personal belongings are covered by standard home insurance, but everything about your home-based business needs additional protection.
Myth 2: A small business does not need commercial insurance
Your commercial insurance should not be based on your company’s size or the number of employees – it should be based on your exposure to risk. There are many different types of risks that you may face. It could be fire, theft, vandalism, etc. Every business, regardless of its size, is exposed to risks. Therefore, it is important to protect it with the help of insurance.
Myth 3: General liability insurance covers everything
Many business owners see the word "general" and think it is a synonym for "everything." However, the truth is that general liability is the basic insurance that covers only a limited amount of risks.
Now you know some of the most common myths about commercial insurance and will be able to make an informed decision by choosing the right policy. If you live in Flowood, MS, or any other surrounding town, do not hesitate to contact Insurance Protection Specialists. We will answer all your questions and help you find insurance based on your insurance needs and budget.