For our small to mid-sized business owners, we realize decision fatigue is a real thing. You do it all. But there’s one choice that should always come easy:
“Do I need business insurance?” The answer is “Yes!”
Our Premier Business Unit (PBU), who serves insureds like you, has put together five reasons commercial insurance is a must-have for your business.
1. It Can Be Required by Law
Most states mandate small business insurance. Even if yours doesn’t, we highly recommend you have it. Accidents happen all the time, and commercial insurance can protect you from financial loss. Examples of losses where business insurance may respond include:
- A fire destroys your building or inventory
- A customer sues you for getting hurt at your place of business
- A hacker steals your customers’ personal information
2. It Protects Your Customers
Have you ever heard of “slip and fall” coverage? This is a layman’s term for General Liability – one of several coverages provided by business insurance. If one of your customers slips, breaks their leg, and needs to go to the hospital, your commercial insurance can help pay for their medical costs and protect you from a potential lawsuit.
3. It Takes Care of Your Employees
Workers’ compensation is another state-mandated business insurance coverage. If your employees have it, they give up their right to sue you if they get hurt on the job. Through workers’ compensation, your employees have access to medical care, missed wages, and more!
4. It Helps Build a Great Reputation
Nothing says, “You mean business!” like commercial insurance. Having the right policies demonstrates that you take managing risk seriously. In many cases, customers won’t accept your bid unless you show proof of insurance. Contractual agreements also include insurance clauses that must be met.
5. It Provides Peace of Mind
Business owners like you have enough to think about. Let us take something off your running to-do list!
It’s simple…we know your time is valuable. That’s why we provide quick and accurate service. If you have any questions about insurance for your small business or are interested in a competitive quote, contact our PBU at pbu@acceladvantage.com. We’ll get back to you fast so you can get back to business.
The Accel Group’s Premier Business Unit: Protecting Your Business With an Unrivaled Approach
Written by: Rachel Lee
Sources: The Hartford