The term “business insurance” is not properly understood in Ann Arbor and even in the entire country. This is mainly due to the fact that there are so many different misconceptions and myths that are seen as true. In reality, many of the things that people talk about are false. Let us analyze some really common myths that keep appearing in conversations between regular people.
‘I Am Careful So I Do Not Need Insurance’
This is a myth because of the fact that most accidents happen because of someone else and not the victim. In addition, there is always the possibility that you have a really bad day and not being attentive for one second can easily lead towards serious problems. Accidents do happen and we cannot really control them. Being protected by insurance is the best way to get something back when an incident happens.
Employer Liability Is Not Necessary For Volunteers Or Temporary Workers
There are dozens of things that we can say in order to highlight the fact that this belief is just a myth. Unfortunately, when you do not have business insurance in Ann Arbor or the insurance policy does not cover such workers, you will end up with a huge lawsuit when something bad happens.
My Company Is Not Big Enough So I Do Not Need Insurance
Small business owners often use this argument. The problem is that when you are small, you actually cannot afford not having insurance as any compensation that you are forced to pay can bankrupt you. In addition, if your worker activity is dangerous, you simply cannot afford not to pay for insurance because of the exact same reason. When owning small companies, it is common for the business owner to be considered liable for different claims and this can cause huge problems.
Home Insurance Covers Working From Home
There are various situations in which this statement is true but in most home insurance policies you will notice that such coverage is not included. A home insurance policy will never cover workplace and when you work in a room inside your house, that part of the home becomes commercial property. This automatically means that it is not covered by the home insurance policy as the space is not used for living purposes.
Since There Is No Law To Oblige Me To Get Insurance, It Is Not Important
This is a really dangerous belief but there is some logic linked to it. Car insurance is mandatory, just like employer liability but business insurance is not obligatory in Ann Arbor. Most people that understand the importance of the insurance will not understand why there is no legal requirement linked to it. You need to reach that belief! The insurance will protect your company, you and your workers.
Always avoid these myths because they are not at all correct. Stay focused on signing a good contract with an insurance company that has a lot of experience and that understands all the needs of a specific business.
If you understood the importance of getting business insurance in Ann Arbor, we recommend that you seriously think about working with America One Michigan Insurance Group. You will simply love the deals that they offer.