Most businesses need insurance. After all, even the most successful ones come with a variety of risks. All it takes is one big liability claim to send a once-successful venture into financial ruin. So if you own or run a business in Georgia, you should consider getting the protection of commercial insurance (also known as business insurance).
At The Insurance Mart, located in Blue Ridge, GA, we help prevent local business owners across the region from having to pay for claims out of their own pockets. But what types of businesses actually need commercial insurance?
Most Businesses Need Commercial Insurance
If you have a store or offer any sort of in-person service to customers, you definitely need commercial insurance (slip and fall claims are very real!) Likewise, any services performed that affect property (such as construction, home cleaning, maintenance, etc.) need coverage.
Because the risks are even greater for food and beverage operations, these businesses will need specialized commercial restaurant insurance.
What About Personal Businesses or Self-Employed People?
If you’re the only employee in your business, it’s easy to think you don’t need any kind of insurance. While it’s true that a big commercial policy will not be the right fit for you, that doesn’t mean you’re without risk. Give us a call to discuss the specifics of your business and what kind of coverage needs you may have.
What Does Georgia Law Say?
Georgia business owners are only required under state law to have workers compensation insurance if they have three employees or more. Full commercial or business insurance is not required, but it is recommended.
It’s also worth pointing out that all business-owned vehicles in Georgia are required to have commercial insurance. If you drive a personal vehicle for work, you should look into hired and non-owned auto insurance, which is similar. While separate from your regular business insurance policy, a commercial policy will cover you in situations that a regular auto policy may not. For example, if you are transporting some materials for your business and those materials accidentally cause damage, regular auto insurance most likely isn’t going to cut it.
To learn more about how your business can benefit from commercial insurance, call the experts at The Insurance Mart or come visit us at our Blue Ridge, GA offices.