Liability Insurance Myths Small Business Owners In Georgia Must Avoid While Researching Policies

Bingham Insurance Group assists the Braselton, GA community through helping residents find the insurance coverage that they need to meet any challenges that may arise. We strive to make things easier for our clients and simplify the often complicated process of searching for insurance.

Liability Insurance Myths Small Business Owners Should Avoid

Liability insurance covers small businesses in the event that a situation arises. As a small business owner in the Braselton, GA community, you are trying to stand out from the competition in your industry. Liability insurance can help protect you against any potential threats that may jeopardize the future of your business. While you are researching different types of liability coverage, avoid these common liability insurance myths.

You Don’t Need Workers’ Compensation If You Have A Small Staff

Even if you have a small staff of employees, workers’ compensation is still an asset. You can’t predict the future and you may face serious consequences in the future if something happened to one of your employees. Plus, having workers’ compensation shows that you value the contributions of your staff, which helps improve morale.

I Don’t Need Special Coverage For My Business Vehicle

Many people make the mistake of thinking that they do not need special coverage for their business vehicles because they can use their personal auto coverage. If you were using your vehicle for business and unfortunately got involved in an accident, you would not be covered under your personal auto policy. In order to avoid being held liable, research coverage options regarding using your vehicle for business-related endeavors.  

I Don’t Need Coverage Because I Regularly Work From Home

Even if you primarily operate your business from home, liability coverage can still assist you. If you are going on a business trip and something happens, you will be left unprotected. Liability insurance helps cover you in the event that something happens while you are conducting business away from home.

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How Commercial Insurance Can Save Your Business

When you own a business, there are lots of things that can happen to hurt your business. Especially if you are a small business, it may not take very much to cause your business to be seriously hurt and even forced to close. By being proactive and having commercial insurance that can protect you from some of the things that you can anticipate, you can save your business. At Bingham Insurance Group in Braselton, GA, our team understands commercial insurance and we can help you get the coverage that you need. 

Commercial Liability Insurance

No matter what type of business you have, you can be sued. It can be because a customer was injured at your place of business or by one of your products or services. If a large judgment is won against you, it could destroy your business. 

Commercial Property Insurance

Things happen, and not all of them are good. If your business is damaged or destroyed by one of these unfortunate things, it could put you out of business. With the right commercial insurance, you will be able to get back up and running as quickly as possible. Liability and property damage policies are beneficial to your inventory and customers.

Workers Compensation

Businesses with three or more employees are required by Georgia law to carry workers’ compensation insurance. Compliance with this law is monitored, and if you are found to be in non-compliance, you can be fined and also receive time in prison. It is not easy to run a business from prison, so it is best to make sure that you save your business by having the necessary insurance. 

These are some of the most common types of commercial insurance. Bingham Insurance Group in Braselton, GA can help you to customize the perfect commercial insurance policy to make sure you can save your business in the face of disaster. Stop by the office or give us a call for a no-obligation quote. 

Commercial Insurance Add On to Consider

Your business is more than just your livelihood. It is the livelihood of potentially dozens of other individuals. You’ve put a considerable amount of your personal sweat into building the company up, which is exactly why you need to properly protect it with commercial insurance. While you may have basic coverage there are a number of commercial insurance add-ons you’ll need to consider. So if you live in or around Braselton, GA, Bingham Insurance Group is here to help.

Business Liability Insurance

Lawsuits can come from all corners. If you are a manufacturing business and a customer believes your product did not live up to its promise, they may attempt to file a lawsuit. If you are a contractor and the services you provided end ups causing further damage, there may be a lawsuit. Even if the lawsuit does not have concrete backing, hiring lawyers every time a suit comes about is expensive. Business Liability Insurance will help with this. 

Worker’s Compensation Insurance

If you have employees you need to consider worker’s compensation. In the event of a worker being injured on the job carrying out their daily duties, you and your business are responsible for the covering costs associated with these injuries and time away from work. Paying for this out of pocket is extremely expensive. That is why worker’s compensation insurance coverage is a valuable addition to consider

Not all commercial insurance add-ons are right for every business. The kind of protection your company needs is not always the kind of protection the next business needs. That is why to determine which coverages work best for your company you need to talk to commercial insurance experts. When living in or around Braselton, GA, the team at Bingham Insurance Group is here to help.