Why Purchase a Milwaukee Business Insurance Policy?

Like most states, Wisconsin requires all businesses with employees to carry coverage for worker’s compensation and disability. Also, if your business uses vehicles for delivery, transportation, or construction, you will be required to carry a commercial vehicle insurance policy. Finally, if you have taken a business loan to build capital for your business, your lender will most likely require you to carry a comprehensive commercial insurance policy to protect your business for the life of the loan.

However, if your business is a sole-proprietorship and you do not have any employees, as is the case with 73.4% of all of Wisconsin’s small businesses, you are not required to carry business insurance. Regardless of whether a comprehensive commercial policy is required, it is a very good idea if you want to protect your business and the investment of time and money that you have put into it.

Some new business owners wrongly believe that because their company is set up as an LLC or a corporation that the business is automatically protected against liability-related financial losses. However, these corporate business structures are designed only as a means of protecting the business owner’s personal assets from liability charges against the company. The business itself is still vulnerable.

For a small, uninsured business, one big liability suit is all that it would take to bankrupt the company. To avoid this risk, you need commercial insurance. A Milwaukee business insurance policy can shield your business from losses and allow you to continue business operations so that your investment continues to be profitable for you.