As a business owner, you didn’t make the decision to go into business for yourself lightly. You made a decision, most likely, after researching profit potentials and ways to avoid risks. After working so diligently to make your business a success, not having business insurance can jeopardize everything you’ve worked hard to achieve. Honestly, without business insurance, you could leave your business unprotected to the very risks you worked hard to avoid.
Commercial Auto Insurance Protects You and Your Drivers
If employees drive your vehicles, then commercial auto insurance should be a must-have. Commercial auto insurance is business insurance that can protect you when you face potential liabilities resulting from employee drivers. Additionally, commercial auto insurance can ensure that you are operating your commercial vehicles legally. Without business auto insurance, you are solely responsible for making the victims of employee wrecks whole. With many job-related crashes exceeding average claims by 65 percent, a wreck can significantly damage your bottom line.
General Liability is Your Business Safety Net
Another important type of business insurance that covers your business is general liability. General liability works in conjunction with other types of business insurance to help give your business more protection. With general liability, you may find that your insurance provider covers you from slip and falls, liabilities created by your employees and slander. As the name of the insurance indicates, general liability helps you cover liabilities that aren’t associated with specific insurance types like auto insurance and property insurance. Without general liability, you may be responsible for footing the bill of lawsuit settlements and medical bills for consumers injured on your property.
Workers’ Compensation Business Insurance is Required for a Reason
Although required, there are many businesses that do not have workers’ compensation insurance. Workers’ compensation insurance can protect both you and your employees alike. With workman’s comp, instead of your business being involved in a lengthy lawsuit with your employee following an injury, you may simply pay what is prescribed by the law. Ultimately your business remains intact and your employer can get the care they need to return to work. Without workers’ compensation, you not only face the possibility of fines by the state, but it’s likely that you can have to pay injured employees from your business revenues.
If you’ve avoided getting business insurance because you think you are saving money, you should reconsider your position. Without business insurance, your business can be a sitting duck. You took steps to research and start your business to ensure you avoided business risks; you should do the same when it comes to insuring your business.
Have any questions about your policy? Call Miller's Insurance Agency, Inc. at (610) 269-4500 for more information on Downingtown auto insurance.