Do All Businesses in Arkansas Need Commercial Insurance?

Why do businesses need insurance? The simple answer is that accidents can happen at any time. And when the accidents are severe enough, they can wipe your hard-earned venture within a matter of minutes!

But before going far, let’s answer this question: do all businesses need business insurance? The short answer is a resounding yes. As you will see from the post below by Foresee General Insurance Agency Inc. of Harrison, AR, all businesses need commercial insurance for the following reasons:

No business is 100% risk-proof

You may have installed CCTV cameras and high-perimeter walls to keep thieves away from your storage facility. Inside, you have robust internal control to mitigate internal theft. Unfortunately, theft is just one of many risks faced by businesses. You may have solid anti-theft measures, but you are not safe from natural disasters, fires, liability claims, and employees’ injuries.

There is no risk-free business, whether small or large. And it’s for this reason you need commercial insurance to safeguard you when the unexpected occurs.

It’s mandatory

Some aspects of business insurance are mandatory, depending on the state you are operating. For instance, Arkansas requires businesses to invest in worker’s comp insurance if they have more than three workers. Similarly, you must purchase commercial auto insurance if you have commercial vehicles.

But whether commercial insurance is mandatory or not, all businesses should invest in commercial insurance options applicable to their business.

Business insurance builds credibility

If the above two reasons don’t appeal to you, then consider business insurance to boost your reputation. Customers, investors, and suppliers are impressed by businesses that take risk management seriously — there is no better way to mitigate risks than investing in commercial insurance.

Ready to invest in commercial insurance in Harrison, AR? Please reach out to Foresee General Insurance Agency Inc. for a favorable quote.