On the one hand, it may seem like a small online business doesn’t need a lot of protection. Online business owners may even feel their risks are minimal compared to those who own a brick-and-mortar business. However, nothing could be further from the truth. As an online business owner, you still need protection. You don’t have fewer risks; you have different risks. Our Noyes Hall & Allen Insurance team is committed to helping online Portland, ME business owners understand the benefits of commercial insurance.
What is Commercial Insurance?
Commercial insurance is another name for business insurance. It provides protection from many unexpected and expected events and issues that many business owners wouldn’t be able to pay for out of pocket. Commercial insurance protects you and your business from liability lawsuits, theft, property damage, employee injuries, other business interruptions, cyber risks, and more. This insurance can also provide protection from libel and slander and help to settle bonds and judgments. In short, commercial or business insurance is designed to suit your business’s unique needs and preferences. You have many options.
I have a very small online business. Should I invest in commercial insurance?
You may feel as if your risks are minimal as a small online business owner. However, the right threat could possibly wipe out your business. If you sell products online, imagine being sued by an unsatisfied customer. Commercial insurance would provide protection for an incident like this in the form of online business liability insurance. This is just one example of a potential risk that an online business might encounter. If you have questions regarding commercial insurance, we’d happily answer them. Call us. We’re standing by.