Business owners need to understand commercial insurance to make sure that their companies are adequately protected financially. At Curtis Miller Insurance we offer commercial insurance policies in Parkersburg, WV. 

The following are three misconceptions about commercial insurance that you need to be aware of as a business owner. 

Business owners don’t need commercial coverage with an LLC.

Many business owners have a misconception that an LLC protects them from all financial liabilities. However, this is not the case. 

Commercial insurance is necessary even if you’re running an LLC. While the LLC setup might help protect your personal assets, it will not protect business assets in the event of a lawsuit or similar liability expense. 

If a company’s sole service is consulting, commercial coverage is not necessary.

Some business owners who run consulting companies think that consulting is not a type of service that requires commercial coverage. However, this is not the case.

Consulting companies could be held liable for errors and omissions claims. They also could be subject to malpractice suits in some situations.

Therefore, commercial coverage is necessary for many consulting firms. 

Commercial insurance covers flood damage to commercial properties. 

Commercial insurance is important for insuring commercial facilities. However, it’s important that business owners don’t make the assumption that their commercial coverage includes coverage for flood damage to commercial properties. 

In fact, flood coverage generally requires add-on coverage. If your commercial facility is located in an area that is subject to frequent flooding, you need to invest in added flood coverage in addition to your basic commercial property coverage. 

If you’d like to get more information about meeting your commercial insurance needs, get in touch with us at Curtis Miller Insurance. We offer commercial coverage in Parkersburg, WV.