Owning your own business is already expensive, and the last thing you probably want to add is commercial insurance. Almost every business owner thinks about skipping it because they believe that nothing bad will ever happen to their business. However, there are certain risks of not carrying commercial insurance that you should know about, and here is a list of a few of them prepared by the Budde Agency Inc. serving Amityville, NY:

  • Do not provide protection to your employees. Workers’ compensation is needed to take care of employees if an accident happens. In this case, workers’ compensation will pay for all medical bills that could be thousands and thousands of dollars. Moreover, if you have worker’s compensation, you are also protected from a lawsuit from an employee, if he or she decides to due you.
  • Risk of financial complications. If something happens to your business, you will have to use your own money to make up for it. For example, if there is a fire and your office and the equipment are damaged, you will have to cover the losses yourself. However, with commercial insurance, you have nothing to worry about – your insurance policy will pay for everything.
  • Risk of property loss. If there is a natural disaster, explosion, earthquake, theft, vandalism, or any other unexpected events, you are risking the loss of your commercial property and all of your assets.

The risks listed above are only a few risks you and your business may be exposed to if you decide not to buy commercial insurance. However, if you understand how important this type of insurance is and you are looking for a reliable insurance agency, The Budde Agency Inc. serving Amityville, NY is ready to help you. Our experienced and knowledgeable insurance agents will answer all your questions and help find a great policy to protect your business. Do not hesitate to give us a call and discuss the options available.