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When you start a business, purchasing insurance should be high on your to-do list. However, many owners mistakenly believe business insurance is only necessary for large corporations or companies in lawsuit-prone industries. Mountcastle Insurance helps organizations in Winston-Salem, NC, protect their assets, and they explain why it’s crucial to have a policy.

What Is Business Insurance?

Business insurance protects you from losses and liability occurring during the normal operation of your company. Every organization has unique needs, but commercial insurance generally covers property damage, legal liability, and work-related accidents. If you own company vehicles, you should also obtain commercial auto insurance. A broker will help you determine which types of insurance you need, as well as what level of coverage matches the size of your business.

Why You Need Coverage Right Away

You might think foregoing a business owner's policy will save you money, but neglecting to buy insurance exposes you to a great deal of risk. Unless you have enough cash on hand to replace all of your property —including buildings, inventory, and equipment — theft or a natural disaster could threaten your company. Businesses without insurance also expose themselves to responsibility for the costs associated with accidents, injuries, and negligence. Finally, North Carolina companies risk legal action if they have more than three employees but have not purchased workers’ compensation insurance.

Don’t expose your business to the risks of not having insurance. Contact Mountcastle Insurance to obtain a policy tailored to the specific needs of your company. The agency has served the Piedmont Triad for more than 125 years, so you can trust they will provide you with unparalleled customer service. Call (336) 777-8500 to speak with a friendly insurance broker, or visit their website to request a free quote on a personal or commercial policy.

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