As an entrepreneur, you may be unfamiliar with commercial insurance and the protection it has to offer. It’s not unusual for new business owners to have misconceptions concerning commercial coverage and costs. At Cross Creek Insurance, we can help clarify insurance myths so you can make wise insurance decisions based on the facts. It’s important to have a clear understanding of commercial policies in order to get the coverage you need.

Myth #1 Personal auto insurance protects a personal vehicle used for work.

Fact: Personal auto insurance policies are designed for personal vehicle use. Commercial auto insurance protects vehicles used for work. If you use a personal vehicle with personal auto insurance for business purposes, you won’t be protected against accident claims.

Myth #2 General liability insurance protects employees against accidents on the job.

Fact:  General liability coverage protects your business against accidental injuries or damages to customers or visitors on your business property, not employees. For employee protection, you need workers’ compensation insurance.

Myth #3 General liability insurance covers commercial vehicle accidents.

Fact: General liability insurance offers no protection against injuries or damages due to accidents on the road. This coverage is provided by commercial auto insurance.

Myth #4 Full coverage means you’re protected against any eventuality.

Fact: The definition of “full coverage” may vary depending on your policy. It’s important to review a policy carefully before signing to be fully aware of the protection it has to offer. The details of your policy can greatly affect how your insurer handles a claim.

Myth #5 Commercial business insurance will protect your business in Hope Hills, NC against flood damage.

Fact: Only flood insurance can protect your business against flood damage. If your business lies in a flood zone and the risk of flood damage is high, you should invest in flood insurance.

For more information on commercial insurance coverage and costs, contact Cross Creek Insurance, Hope Hills, NC.