Why Commercial Insurance is an Asset

As a businessman, if someone asks you to list your assets, top of the list will be your building, vehicles, IT equipment, and furniture. But where do you place commercial insurance? In the strict accounting definition, commercial insurance is an expense, but when you think about it, commercial insurance is an asset. When you buy commercial insurance today, you hope to get financial indemnification should a covered peril strike your business in the future.

Need more reasons why you should invest in commercial insurance? If you buy business insurance from America’s Choice Insurance Partners in Wixom, MI, you reap the below benefits.

Employee protection

You may have buildings and other assets, but employees are your most valuable asset. As such, does it not make sense to protect your priceless asset with insurance? Investing in worker’s comp insurance protects your employees from illnesses and work-related injuries.

It gives you liability protection

If you are in business, purchasing liability coverage should be a no-brainer. Given the ubiquitous nature of legal suits, it would be suicidal to forgo general business liability insurance. This coverage protects your business if accused of property damage, bodily injury, and advertising injury. It also covers your business should third parties sue you.

It protects your assets

Commercial insurance is an asset that protects your assets. If you think about your business assets like furniture, buildings, inventories, computers, and so on, it would be catastrophic if you don’t protect them with insurance. In the event of peril like fire, you don’t have to start from level zero if you have business insurance.

Invest in commercial insurance today!

The above list isn’t exhaustive. There are plenty of other reasons why you should invest in commercial insurance. Would you like to purchase business insurance in Wixom, MI? Would you please get in touch with America’s Choice Insurance Partners?