Is Commercial Insurance All About Liability Protection?

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At the Insurance Center of Green Valley, we always face this question from our Green Valley, AZ clients: Is commercial insurance only for liability protection? While commercial insurance protects you from advertising injury, property damage, and bodily injury liabilities, liability protection isn’t the only reason to purchase commercial insurance. Here are a few more reasons.

Compliance with the law

The Arizona State requires businesses to carry the below mandatory business insurance coverages:

  • Commercial auto insurance: It’s required for all vehicles used for business purposes. It provides liability and damage protection for your commercial vehicles. 
  • Workers’ comp insurance: If you have employees in your business, the law requires you to purchase workers’ comp insurance. This insurance covers employees’ medical costs, final expenses, and partial loss of income following work-related injuries. 

Physical assets protection

Let’s take an inventory count of your business assets — buildings, inventories, electronics, furniture, and vehicles — the list can go on and on. Now, imagine fire or hurricanes have struck your business. The resulting damage could be so massive, grinding your business to a halt.

Fortunately, when you have business insurance, damages to your business property and its contents are compensated up to your policy limit. While commercial insurance doesn’t protect your business against threats, it ensures you don’t start from scratch when the unthinkable happens.

Cyberattacks protection

If you have been keen on the news, you might have noticed the unspeakable damage caused to businesses by malicious online activities. For this reason, cyber insurance protects organizations from data breaches and associated costs of managing cyberattacks. Cyber insurance covers notification costs, defense costs, and government fines and penalties following a cyberattack.

Commercial insurance in Green Valley, AZ

Since your business means the world to you, partnering with the right insurance agent that takes your business interests at heart is an invaluable partnership. At the Insurance Center of Green Valley, we care about your business as much as you do. Contact us today for all your commercial insurance solutions. Let’s take care of your insurance needs as you prioritize more pressing needs.