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Did you know during the recent floodings this past August that only 1 in 8 businesses in East Baton Rouge were insured to cover flood damages? Louisiana Economic Development (LED) assessed that damages to businesses exceeded two billion dollars. That means over $240 million dollars will need to be picked up by those business owners who are un or underinsured.

The average cost of most policies is less than $1,000 per year. A $1 million policy costs $300 to $1,000 per year, while, $2 million worth of coverage will cost an average of $500 to $1,300 for a business. Wouldn’t you agree that $100 dollars a month (on average) for a commercial and business insurance policy is better than the potential loss of your life savings?

If just that isn’t enough to get you thinking about your own insurance policy here are five reasons why having commercial and business insurance is a no-brainer:

  1. One is Enough. It’s unfortunate, but one bad situation could be enough to put all you’ve worked for at risk. One angry former employee, one accident with a customer on a slippery day…a lack of commercial insurance coverage in such an instant could lead to a great deal of loss.

  2. Accidents Happen. Your brick and mortar location may be in the safest part of town, and you might be as diligent as possible to maintain a safe environment. But accidents still happen, and they can cause you to be sued for liability.

  3. Coverage from Exclusions. Certain business insurance policies may cover specific situations, leaving you at risk for loss because of an exclusion. Talk with your insurance agent to ensure that your commercial insurance policy provides all the coverage you need.

  4. Stay in Control. You may leave work one night with everything perfect, only to return to disaster in the morning. Having a commercial insurance policy protects you in the event of theft or disaster while you’re aware. Instead of losing control to the circumstances, you maintain control over your business’s future.

  5. The Other Guy May Not be Insured. When an auto accident causes damage to the front of your brick and mortar or your business property, you hope the other guy’s insurance will be enough to cover the damages. But what if it’s not? Remove this risk by having commercial insurance coverage.

ABC Insurance Agencies offers comprehensive commercial and business insurance policies to fit your business needs. Whether your business be small or large ABC can get you the coverage you need.

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