Controlling risk is especially important for small business owners; using insurance to help manage your risk is good business. Unfortunately, some small business owners mistakenly believe personal insurance policies can cover business risks. If you own a small business and want to avoid that mistake, contact the Lee Insurance Agency LLC team serving North Carolina to create a commercial insurance plan that meets your business’s needs.
Commercial Versus Commercial Vehicle Insurance
Small business owners typically realize the need for standard commercial insurance policies covering workers’ compensation, commercial property, and general liability. Many also acquire additional coverage appropriate for their industry or profession. While they acknowledge their business needs commercial insurance to cover business assets and activities, some do not apply the same approach to all motor vehicles used for business activities.
Consider what could happen, for example, if an accident occurred while a small business owner drove a client to lunch following a business meeting. If the client suffered an injury, the owner’s personal insurance policy would not cover those expenses. Neither would the personal policy cover damages or injuries to others or the owner’s vehicle while being used for business during the accident.
Although an insurance company could unknowingly cover a fender bender, accidents that result in substantial liability are investigated and are not covered when found to be business-related.
Regardless of your business, talk with your agent about your insurance needs. Don’t wait for an accident to learn you are not fully protected.
Reach Out To Us
Lee Insurance Agency LLC handles the business and personal insurance needs of many small business owners in North Carolina. Please stop in, email, or call us today to build an insurance plan to protect your business and personal assets.