Do Small Businesses Need Commercial Insurance and Commercial Vehicle Insurance?

Insurance covers business owners’ legal and contractual obligations and limits risk to acceptable levels. Unfortunately, some small business owners do not recognize the risks they take by relying on personal insurance policies to cover business risks. If you own a small business and want to ensure you are covered adequately, contact our Sound Choice Insurance Agency Inc. team serving Lynnwood, WA, to create a commercial insurance plan that meets your business’s needs.

Commercial Versus Commercial Vehicle Insurance

Businesses come in all shapes and sizes across many industries and have varying needs. Still, most business owners recognize the need for workers’ compensation, commercial property, general liability, and commercial insurance coverage specific to their industry or profession, even when running a small, work-from-home operation. Likewise, commercial rather than personal insurance should cover your business assets.

The same logic applies to motor vehicles used for business purposes. A personal insurance policy does not cover vehicles your company owns or operates for work purposes. Individual policies also do not cover an owner’s or employee’s vehicle when transporting goods, tools, or people for work-related purposes. While an insurance provider might unknowingly cover a work-related fender bender under a personal policy, accidents leading to substantial liability face more scrutiny and may not be covered if business-related.

Regardless of your business, consider talking with your insurance agent about adequately protecting yourself, your employees, and your business. Don’t wait until after an accident happens to learn you are not fully protected.

Working with Sound Choice Insurance Agency Inc

Sound Choice Insurance Agency Inc. handles many happy clients’ business and personal insurance needs in the Lynnwood, WA, area. Drop by or call us today to build an insurance plan that protects your business and personal assets.