Why You Need Commercial Insurance Even if You Rent Your Business Space

Why You Need Commercial Insurance Even if You Rent Your Business Space

Some small to medium-sized businesses may feel they don’t need commercial insurance since they don’t own the building from which they conduct business. They may feel their landlord is responsible for any damage to the building from a fire or natural disaster, and even are totally responsible for liability coverage. Nothing could be further from the truth.

First, your landlord may be the nicest of guys, but he’s not likely concerned about your inventory or liability risks. Sure, he probably will have insurance but it may only cover his structure and his interests. In fact, in many retail circumstances, the tenant may be responsible for broken window glass. But that is just the start of where you may be at risk.

Even if your landlord has liability coverage, someone slipping and falling in your store or office space can still hold you liable for injury and possibly resulting legal expenses. This risk is expanded if you manufacture a product for sale and that product ends up injuring a customer. Even a delivery person who gets injured in your space can hold you accountable.

If you have employees, they can be a liability risk when conducting business-related activities. If they use personal vehicles for business errands or delivery, you again could be held liable in an incident.

None of this even addresses the issues involved with theft, vandalism or lost inventory in a fire or other calamity. What if your computers and office furniture are lost, stolen or damaged? You also have to consider how you would cover loss of income during a period when your business may not be operating. Insurance can help you recover from the loss of digital assets.

There is much more involved in protecting your business than just the structure. When you consider all the risks involved, securing sufficient and appropriate business insurance is critical.

Our independent insurance agents will sit down with you to discuss your business and your potential risks. They can construct a business coverage plan to deliver the protection and peace of mind you deserve. Contact us today.


Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Search All Blogs

Search
Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Want to learn more about our blog writer?

Read more about KayLynn's background.

Click Here

Search All Blogs

Search
Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

Six Common Homeowners Insurance Mistakes

Avoid These Common Errors When Buying Homeowners’ Insurance

Five Recent Fads That Came and Went Quickly

Wow! What Was That? Oh, It Was the Latest Fad.

Are You Legally Required to Carry Business Insurance?

What Type of Business Insurance May Your Business Be Required to Carry?

Four Needs Life Insurance Can Help Fulfill

Life Insurance May Be More Versatile Than You Think

Car Insurance FAQ’s

The Questions We Hear Most Often Regarding Automobile Insurance

Five Quick & Easy Ways to Save on Homeowners Insurance

Saving Money on Your Homeowners’ Insurance May Be Easier Than You Think!

America’s Most Popular New Year’s Resolutions

This is the Time of Year to Resolve to Make Things Better.

Business Insurance for Professionals

A Must Read for Attorneys, Financial Planners, Accountants and Medical Professionals

Term Insurance: Big Protection at Affordable Rates

If You Are Entering a High Responsibility Portion of Life, Term Insurance May be the Answer

Seven Steps to Become a Better Driver Tomorrow

Yes, We Are All Good Drivers. Or Perhaps Not.

Leave a Comment