Top Misconceptions Driving People Away From Getting Business Insurance

Many professionals, business owners, and others ignore the concept and benefit of insurance; although, it carries so much value. There are a few top misconceptions about how people feel about business insurance, which we have addressed below. Located in Sugar Land, TX, the team at Insurance Solutions of Texas can provide all the information necessary to prove the importance of having business insurance. Let’s dive in.

Small Business Owners

Some professionals incline that they don’t need to acquire business insurance because their business might be too small. Their business may comprise only one or two employees, and they might have been in business for less than two years. However, the truth is that as long as you are going to start a business, no matter how small, you need insurance so you can cover yourself, employees, and also the business from liability. Without insurance, if there is any accident, loss of life, or injury on the premises, the business entity and business owner will be liable. A good employee might not accept a job offer in another scenario due to a lack of insurance coverage, whether medical or worker’s compensation.

Home-based Business Owners

Those who work from home business may consider it useless to have insurance coverage because they do business from home. But, it is just as important for them as it is for any other business entity. The homeowner’s insurance is not enough. While the coverage may be different for home-based business owners, the liability is the same for any other business. So, it is reasonable to say that your business should be insured as long as you conduct business.

The Associated Risks

Some business owners don’t look at the risks associated with having a business. For this reason, they believe their business is safe from risks as long as they do what it takes to prevent accidents and incidents. However, freak accidents can occur in any business location, whether home-based or corporate. Insurance serves as a contingency plan.


Last but not least, businesses consider insurance to be a worthless expense, which puts a dent into their bottom line. So, they would rather not even talk about it. These business owners are not looking at the amount of money that insurance can save them in the long run if there is an employee claim or lawsuit. It is better to prevent such occurrences by securing business insurance rather than waiting until something bad happens. Contact us at Insurance Solutions of Texas in Sugar Land, TX, and let us help you figure out how much business insurance you need for adequate coverage.