Small Business Liability Insurance: Yes or No?

The question we hear fairly frequently is this: “I’m not mandated to have small business liability insurance. Why should I spend the money on it?”

Far more frequently, we see business owners who do not have this important coverage or simply let it lapse. Usually, this is an attempt on the part of the business owner to save money in a tight budget situation.

In this day and age, and in this business environment, lawsuits are routinely filed over the seemingly most insignificant things, and running your business without liability insurance is like driving to work with your eyes blindfolded!

Trying to defend even the most frivolous lawsuit without this insurance can and does result in the death of a business, or at the very least its bankruptcy.

If you are concerned about the high premiums, don’t let it lapse! Be proactive about lowering the premiums.

Shop around to find the best company to buy it from. Look at exclusions and deductibles. Ask your licensed insurance professional to help you implement a risk management plan. And together the two of you can research your industry to figure out what the average claims and settlements might be and adjust your coverage accordingly.

This is a cost of doing business, and an important one. The importance of this coverage in order to protect your business from risk cannot be overstated.

Business insurance can offer you the peace of mind that your business can withstand a frivolous claim or the settlement.

Get the coverage you need and save big on commercial insurance!

Workers' Comp
General Liability
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Workers' Comp
General Liability
Auto
More..