A Safety Net of Protection

Without proper commercial insurance policies in place, North Carolina business owners must take on all the potential risk of lawsuits and payments for injuries of employees or customers.

Commercial insurance provides a safety net of protection to keep companies from having to spend large amounts of money for legal defense, judgments, worker’s payments or medical expenses out of pocket. When companies are responsible for some sort of accident or injury, just one large award can financially devastate and potentially force a company out of business.

The State of North Carolina does not mandate that companies purchase commercial insurance; however, for the sake of protecting business investments and assets, some insurance protection is a must. At a minimum, most business owners choose to obtain general liability and property insurance along with workers compensation insurance if they have employees. The state does require that businesses with employees have workers comp coverage to help with worker related injuries and illnesses.