As a business owner, you need to invest in commercial insurance to protect the financial interests of your company. We sell commercial insurance to business owners in Memphis, TN at Tackett Insurance Inc.
The following are three problems you can avoid when you purchase commercial insurance in Memphis, TN.
Going out of business because of a costly lawsuit
A lawsuit can devastate a business financially. Fortunately, commercial insurance coverage generally covers the costs of lawsuits. Not only can commercial insurance cover the costs of legal representation, but also the costs of any settlement or penalty you have to pay as the result of a lawsuit.
Commercial insurance coverage financially saves many companies in some situations. That’s one of the most important reasons why you should invest in a commercial insurance policy as a business owner.
Being fined for not meeting your legal requirements
There are certain legal requirements you’ll be expected to meet when it comes to insurance coverage for your business. You may be legally required to carry commercial auto coverage and workers compensation insurance, for example.
If you don’t meet these requirements, you could find yourself facing significant penalties. Commercial insurance coverage can protect you from these penalties.
Failing to qualify for business financing
Commercial insurance coverage can help you qualify for certain types of business financing. Lenders often want to see that you have commercial coverage before offering you a business loan.
This means that commercial insurance can help you acquire capital and grow as a company in many situations.
Get in touch with us to find the right commercial insurance policy in Memphis, TN today. Visit our website to learn more about us and inquire about our insurance policy options at Tacket Insurance Inc.