When you run a business in Gainesville, GA, you need to be informed about commercial insurance. Unfortunately, there’s a lot of misinformation floating around out there. Here are some of the most common business insurance myths:
General Liability Is All You Need
General liability covers you if someone else is injured or suffers property damage in relation to your business. It doesn’t cover your business property or commercial building.
Commercial Vehicles Are Already Covered By Your Commercial Insurance Policy
You need to take out a commercial auto insurance policy for your commercial vehicles. You may be able to buy both policies from the same provider, but your commercial insurance will not automatically cover the company car.
You Don’t Need Workers Compensation Unless You Have Employees
You don’t legally need to carry workers comp without employees. But workers comp covers the owner of the business, too. If you are an owner-operator, workers comp could save you a lot of missed income in the event of an injury.
Small Businesses Don’t Need Insurance
Very small businesses can sometimes skate by without insurance. These are businesses that are basically hobbies that earn a little extra income. If you depend on your business to make a living, it only takes one accident or lawsuit to bankrupt your company.
Home-Based Businesses Don’t Need Any Insurance
Home businesses typically don’t need as much insurance, since you don’t have a commercial property to worry about. But products made inside your own home, or even on the computer, still come with some liability. If you run an eCommerce site and someone hacks it, stealing your customers’ credit card info, you’re going to be held responsible for that.
Business is all about having the right information. The right client’s number, the right market forecasts, and, the right information on insurance in Gainesville, GA. If you’re still shopping around or thinking of switching providers, get in touch with Chastain Agency Inc. At Chastain Agency Inc., we can get you connected with a policy that works for you and your business.