To ensure that your business is protected in Gurnee, IL, you need to have commercial insurance. Don’t believe these popular myths when shopping for a quote.
General Liability Will Cover All Risks
Some business owners think that a general liability insurance policy is a one-size-fits-all solution. While it does provide a lot of coverage, it’s important to note that not every claim that comes up may be covered. This type of policy will generally protect a business from lawsuits that are filed against them by an individual who doesn’t work at the business.
Home-Based Businesses Don’t Need Insurance
Home insurance won’t cover your home-based small business. It’s best to get a business policy that will meet the needs of the business so your operations are protected.
Insurance Will Cover Business Damages from Flooding
The only thing that will cover flooding is flood insurance. If the business is located in an area that could be at high risk for flooding, then it’s necessary to get a separate flood insurance policy.
Business Vehicles Are Covered under Existing Insurance
Insurance for personal vehicles may not cover a business properly if the vehicle is being used for business operations. Consider getting commercial auto insurance to be fully covered or speak to an agent at Statewide Insurance Solutions to see what will be covered under a personal policy.
Property Insurance Isn’t Necessary if Work Is Done in the Client’s Area
If a business is working at a client’s location and uses the client’s equipment and tools, it’s possible to think that property insurance isn’t necessary. However, commercial property insurance will vary and it could cover some damages, even to the client’s equipment.
A Personal Umbrella Policy Will Cover Your Business
Umbrella policies will come with exclusions and limitations and may not cover any business damages.
Contact Statewide Insurance Solutions serving Gurnee, IL to get a quote on commercial insurance.