Do You Legally Need Commercial Insurance?

Dealing with commercial insurance can be quite an investment, causing owners to ponder its worth. It’s important to see insurance as a safety net you wish not to use, but it is essential for those ‘just in case’ instances. True, it’s not entirely without its financial and time constraints.

Recognizing the Need for Business Protection

Undeniably, ask yourself if your business owns property that would be difficult to repair or replace. This includes assets such as inventory, vehicles, computers, and other technical equipment. If the worth of these assets is in the ten-thousand-dollar range, commercial insurance becomes a must-have necessity.

Litigation Concerns

Also, consider the implications of potential legal action against your business. For instance, if you own a particular property where someone could get injured, sell items that could be defective or harmful, or experience a data breach, a lawsuit could ensue. Commercial insurance would cover you in these circumstances and reduce the risk of your business falling under financial stress due to unfortunate events.

Determining the Insurance You Need

If you employ personnel, you’ll need workers’ compensation insurance. General liability insurance covers any injuries that occur on your property. It’s also worth considering professional liability insurance to mitigate legal complications.

Business Insurance Solutions at Ashley Insurance in Easton, MD

If you’re a business owner in Easton, MD, and considering commercial insurance, don’t hesitate to contact Ashley Insurance. Our courteous, experienced agents are here to assist you in finding just the right policy for your business needs.