What are the risks of not carrying commercial insurance?

Operating your own business is not easy, and it is also expensive. One of the biggest expenses for any small business owner is commercial insurance. Therefore, many business owners decide to skip it and run their businesses without it. If you are one of them, you should be aware of the risks associated with operating a business without proper protection. Here is a list of them:

What Are The Risks Of Operating a Business Without Commercial Insurance?

The risks are the following:

  • Business interruption. If something unexpected happens, such as a flood or fire, and your commercial property and possessions are damaged, you will have to cover the damages yourself. Without proper business insurance, you will be left with interrupted business interruptions and financial consequences. 
  • Loss of property. One of the main risks of operating a business without insurance is losing your commercial property. Anything can happen to your commercial building; without business insurance, you risk losing it forever. 
  • Not protecting your employees. Workers’ compensation is an integral part of any commercial insurance. It takes care of employees if an accident happens and they are injured at their workplace. If you skip commercial insurance, you leave your employees without protection. 

Compass Insurance – Reliable Insurance Company Serving Clients In Centennial, CO

Are you a business owner operating your business in Centennial, CO, or any other nearby town in Colorado? Are you searching for a commercial insurance policy to protect your company, yourself, and your employees? Contact Compass insurance, a local company specializing in business insurance. We will help you find an insurance plan based on your insurance needs and budget. You are welcome to visit our office or give us a call.