Small Business Owners: Why You Want Commercial Insurance

If you are self-employed, you need the right amount of insurance, and also the right type of insurance to ensure you’re properly covered for your unique needs.
Small Business Owners: Why you want Commercial Insurance | CM Connect Blog

Small Business Owners: Why you want Commercial Insurance

Many people have asked us at Crystal Metz Insurance, what exactly is Commercial Insurance, how does it work and do I need it? 

We’ll be showcasing specific situations where you would need commercial coverage, and more importantly, why you want it.

If you are self-employed, you need the right amount of insurance, and also the right type of insurance to ensure you’re properly covered for your unique needs. 

Here’s an example of a new small business owner:
Small Business Owners:  Why you want Commercial Insurance
THE SITUATION                          

Carly is a 42-year old Baker. She’s been whipping up all kinds of treats & desserts from home, and now that her kids are grown, she's decided to move her small business into a brick and mortar shop. 


Small Business Owners:  Why you want Commercial Insurance
THE INCIDENT

While working one early morning, a kitchen fire unexpectedly starts. Carly does everything she can to put out the fire, trying to save her building and her business. In the process, she inhales a large amount of smoke which then  requires hospitalization. 


Small Business Owners:  Why you want Commercial Insurance
THE DAMAGE 

Carly is now looking at costs to rebuild the structure and replace all of her food stock & baking supplies. She will also lose income while her bakery is closed for repairs and construction. Two years later, the doctors discover lung cancer and because she has always been a non-smoker, they determine it was caused by the earlier smoke inhalation 


Small Business Owners:  Why you want Commercial Insurance
THE INSURANCE

Luckily, Carly had both Business and Critical Illness insurance policies.  


Her Business coverage will cover all of the costs for rebuilding her shop, restocking her inventory, and her loss of income during repairs. 


Her Critical Illness coverage will provide the funds she needs to seek excellent treatment. Karly won’t have to worry about how she will pay the bills when she needs to travel for doctor appointments or treatments, or to seek expert help from an out-of-country specialist. She can now leave the shop in the trustworthy hands of her employees without adding financial stress to herself. 


Small Business Owners:  Why you want Commercial Insurance
WHAT COULD HAVE HAPPENED (if she didn’t have Business and Critical Illness insurance)

Carly could have lost her shop, as well as her business after the fire. She would not have been able to afford to rebuild by herself, nor replace all of the baking tools and special cooking equipment.  


She may have also lost her business again once she received her cancer diagnosis, or had to ask friends & family for financial assistance to take the time off, as well as pay for travel arrangements, for doctor appointments.



 



Which type of insurance coverage do you need? 
We can make sure you have the right amount of insurance coverage for your specific situation and industry, no more, no less. In the unfortunate event that something were to happen, the proper insurance will ensure you won’t be adding a financial burden to you or your family.
Let the Crystal Metz Insurance team help advise you on what will work best for your business insurance needs. We are here to connect the dots for all your insurance needs.


Small Business Owners:  Why you want Commercial Insurance