Whether selling handmade items on a small online platform or running a soap company out of a modest brick-and-mortar storefront, you may wonder if commercial insurance is a good idea for your small business.
At the Insurance Center of Green Valley, we’ve walked plenty of business owners of all business shapes and sizes in the Green Valley, AZ area through the commercial insurance coverage process.
What is commercial insurance?
Commercial insurance, which is sometimes referred to as “business insurance,” is a type of insurance policy that provides coverage for businesses and related items. For example, some types of commercial insurance cover liability if a company is on the receiving end of a lost lawsuit.
In other cases, commercial insurance might cover a business facility for commercial property insurance or the company’s vehicle with a specialized commercial vehicle insurance policy. Some commercial insurance policies cover multiple aspects of the business, while others zero in on specific company parts.
Why should small business owners get commercial insurance?
For small business owners, commercial insurance can be a safety net that provides coverage for unexpected expenses. Unlike large corporations, small businesses may not have the savings or assets to cover an emergency such as fire damage to their facilities or damages in a lawsuit.
Theft, lawsuits, and damage are difficult to handle for all businesses. For small business owners especially, one unexpected emergency can be enough to hurt the business or make it impossible for the company to continue. Although every commercial insurance policy is different, some cover the specific needs of smaller firms.
If you are a small business owner considering commercial insurance, call our office at the Insurance Center of Green Valley in Green Valley, AZ, today!