If you are a business owner, you more than likely know how important it is to have insurance. When it comes to business insurance, there are some common misconceptions or myths out there that need to be set straight. This is an important part of owning and operating your own business. InsureWise LLC is here to talk about some of the business insurance myths out there to answer some questions that business owners may have about the importance of having the right coverage.
Is Business Insurance Expensive?
While many people think that business insurance is expensive, it pales in comparison when you look at the amount of money you may have to pay out if something were to happen. You need to change the way you think about it, you can’t afford to go without business insurance even if you wanted to. When you have a policy that gives you the coverage that you need, you don’t have to lay awake at night worried about the what ifs that come with owning a business.
Do I Need Business Insurance if I have No Employees?
It doesn’t matter how many employees you have, if any, when you are talking about business insurance. You simply can’t depend on your homeowner’s insurance to pick up any slack when it comes to your business. Even if you are self employed, you need to understand how important it is to have insurance that will cover any problems that could come up. This is especially true if you work in a high risk industry.
Is Auto Insurance Needed when Employees are Driving Their Own Vehicles
Any time you rely on your employees driving a vehicle to accomplish any work, you need to have an auto insurance policy that covers them in the case that they need it. Even if they are driving their own vehicle, you need to have an insurance policy that since regular auto insurance doesn’t usually cover any accidents that happen when someone is conducting business out of their vehicle.
Is Worker’s Comp Needed for Sole Proprietors?
While some states allow you to be exempt from paying for worker’s comp insurance, you should certainly reconsider getting it. There are many different scenarios that can leave workers hurt when they are on the job, and you wouldn’t want to leave clients or employees in a lurch. In fact, there are some customers and clients that will refuse to work with any independent contractors unless they have worker’s comp insurance that will cover the worker in the case of an accident during the job.
General Liability Policies & More in Las Vegas, Henderson, Reno, North Las Vegas, Summerlin, Paradise, Spring Valley, Sunrise Manor, Enterprise, Sparks, Carson City & State of Nevada
If you own your own business, you want to make sure you have the coverage that is needed to protect your business. When you don’t have enough insurance coverage, it can easily end up ruining your small business. At InsureWise LLC, we will help you find the right policy for your business and its needs. Call us today!