Bust These Big Business Insurance Myths

April 10, 2015

Do Not Believe These False Statements

Business owners know that they need to protect their businesses, but many of them also believe common misconceptions about business insurance, making it difficult for them to get the coverage they need. To help you safeguard all of your hard work, here are a few business insurance myths we would like to dispel.

• Small Businesses Do Not Need As Much Coverage. Your small business deserves to be as protected as a major corporation, and needs full coverage in order to have that kind of security. Small businesses get sued every single day, so do not assume that just because you do not have billboards nationwide you will not get sued.
• Incorporated Businesses Do Not Need Insurance. Certainly, being an LLC can protect your personal assets. It does not, however, mean that your business cannot be sued for all it is worth. If your business goes under, will that not affect your personal life? Protect yourself by carrying the liability coverage your LLC needs.
• My Budget Does Not Have Room For Premiums. You may think you cannot afford coverage, but if your budget has little wiggle room you cannot afford not to carry protection. It is much better to pay a small, predictable amount of money each month than be faced with a huge, unexpected expense that could drain your company’s coffers.
• Basic Business Insurance Offers Enough Coverage. Did you know that earthquakes and floods are generally excluded from property insurance policies? If you live in an area with a high risk of natural disasters, talk to your agent about getting every kind of coverage you need.

To get the full coverage your business both needs and deserves, contact Central Insurance Agency. Located in Austin, Texas, our team of dedicated agents is here to help you get the right coverage for your company.