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

The Power of Looking Forward

What’s on Your Calendar you are Looking Ahead to?

The Fastest Car You May Never Have Heard Of

You Won’t Believe the Zero to 60 Time of This Four Seater

Roofing Material Choices 101

The Basics of Materials Used to Protect Your Home

Duct Tape: The All-Purpose, Don’t Leave Home Without it Product.

It is Durable, Tears by Hand and Sticks to Almost Everything

Fuel Your Business with a Blog

Yes. A Blog About Blogging.

Reachable, Achievable Goals

Keep Your Life Moving Forward with Smaller Goals

The Little Known Story of the First Japanese Super Car

Japanese Cars Weren’t Always Viewed as Well Crafted. Until Perhaps, This Moment.

You May Never View Your House the Same Again

Here’s How to View Your Home on a More Personal Basis

Discovering the Appalachian Trail

It Has Been Described as Alluring, Life Changing and Mysterious

Down on the Corner: America’s Business Barometer

What Businesses are on the Corners of Your Nearest Intersection?