By Samantha Beaudette
Commercial Lines Account Manager

Insurance is probably the last thing that anyone wants to think about or have to deal with, I get it and I'm an agent. However, despite the annoyance of it all I understand the necessity of it for business owners.

For example, say you're the owner of a local bar and one night someone gets pretty banged up, because they slipped and fell while on the premises. This individual ends up having some pretty hefty medical bills, because of that slip and fall. However, they don't want to have to pay them and said individual is claiming the floor was wet and that's what caused them to fall. So an attorney gets hired to represent them and pursue compensation for the injuries sustained while at your bar. 

Thankfully, you have General Liability coverage in place and call the claim into your agent. The insurance company then takes over and asks for proof of injury, etc. Once it's "proven" that your customer slipped and fell at your bar the insurance company will then determine what to pay out on the loss/claim.

Here are a couple additional reasons why commercial insurance is important:

1. Payment hold up - The last thing you want to hear after finishing a job is, "Well, we can't pay you till you provide us with proof of insurance". No insurance, no payment.
2. Full legal and financial responsibility for any accidental damage done resulting from your work. As long as it's a covered loss, your commercial insurance is a safe guard, of sorts, for you as a business owner.

When you're starting a new business insurance isn't necessarily the first thing you'll think about, but it's much need to protect your business assets. Don't jeopardize everything you've worked so hard for by not getting properly and adequately insured.