Demystifying Commercial Insurance Myths

At Maanen Insurance Group in Greeley, CO, it pains us to witness people falling victims to misinformation regarding commercial insurance. Several business insurance myths exist, and it’s easy to believe them, especially if you are a newbie. Luckily, we are here to debunk some of these common myths. 

Here are the common commercial insurance myths that you should be aware of when shopping for coverage. 

Myth#1: Your venture doesn’t need insurance — it’s too small

Some small business owners assume they don’t need insurance as they believe commercial insurance is meant for large businesses. If you are one of them, you are very wrong. Regardless of the size of your business, it would help if you had commercial insurance to protect you against unforeseen events that may unfold when you least expect them.

Myth#2: Insuring your home-based business isn’t necessary if you have home insurance 

If you think so, you are wrong. A home insurance policy doesn’t cover business-related risks. For instance, if a customer slips and breaks their leg while attending a business meeting, your home insurance won’t cover the emanating liability claims. Given the limited protection of your home insurance, you need commercial insurance to protect your home-based business optimally.

Myth#3: Your landlord insurance policy protects your business

Your business and its building are two different entities. Your landlord’s insurance policy protects the building and not your business. In case of theft, it’s you who will suffer and not the landlord. To that end, you should purchase commercial insurance to protect your business against various risks. 

Your business isn’t something to take for granted. It’s the reason you are financially stable as it works hard to serve you. To return the favor, it’s your mandate to ensure it’s always insured. 

Buy commercial insurance today!

At Maanen Insurance Group in Greeley, CO, we understand the importance of commercial insurance. That’s why it’s our passion to help you distinguish between myths and reality regarding your commercial insurance policy. If you need more clarity, don’t hesitate to contact us.