Commercial insurance is one of the most important investments for any business owner. However, there are many misconceptions about this type of insurance.
In order to get a better understanding of how commercial insurance works, take a look at the list of myths prepared by Ashley Insurance, serving Easton, MD:
Small businesses do not need commercial insurance.
No business is too small to benefit from commercial insurance. Commercial insurance policies offer a wide range of coverages for all types of companies, such as business interruption, liability insurance, coverage for the building, and even coverage for the products you sell. They all help to protect your business against lawsuits, disasters, theft, and other losses regardless of the size of your company.
There is no need to get commercial auto insurance on a car that is used for business purposes.
The truth is that your standard auto insurance will not cover your vehicle used for commercial purposes. Therefore, if one of your employees gets involved in a car accident while driving your car, your auto insurance will not cover the damages.
A standard home insurance policy covers a home-based business.
If you operate your business from home, you may be surprised to find out that your homeowners’ insurance will not cover business-related damages. This means that your equipment and inventory are not protected by home insurance and need a separate policy.
In order to protect your business, yourself as a business owner, equipment, and your employees, you need to have proper commercial insurance. If you have any questions about this type of insurance and need more information, Ashley Insurance, serving clients in the Easton, MD area, is ready to assist you. Do not hesitate to visit our website or give us a call to discuss the options available and find the perfect coverage.