Business owners need to be well-informed to make the right decisions about commercial insurance coverage. At Renee Oliver Insurance Agency Inc., we insure companies in Silver Spring, MD.

Unfortunately, there is a lot of misinformation out there about commercial insurance.

The following are four common pieces of misinformation you may come across regarding commercial insurance:

Business owners who work out of their homes are covered by home insurance.

You can’t expect home insurance to cover business operations out of your home. You need to purchase commercial insurance for coverage if you have a home-based business. 

Small companies don’t need commercial insurance.

Companies of all sizes need commercial insurance coverage. It’s a mistake to think that you don’t need to insure your company because it’s not large enough or doesn’t have enough assets to require coverage. 

Most businesses are not at risk of lawsuits. 

Any business can be sued. You don’t have to run a business in an industry where lawsuits are particularly common to need commercial liability coverage. 

You don’t need commercial insurance if you have no employees.

Some business owners think that commercial insurance is only needed for businesses with employees. While workers’ compensation coverage is an important type of commercial insurance, it is not the only type of coverage that businesses need. 

If you don’t have any employees, you don’t need workers’ compensation coverage. However, you still need other types of coverage such as commercial liability insurance. 

Reach Out To Us

Making the right decisions about insurance coverage can ensure the longevity of your company. Renee Oliver Insurance Agency Inc. can insure your company in Silver Spring, MD. Get a quote on a policy for your company by calling us today!