What Happens if a Business Doesn’t Have Commercial Insurance

If you operate a business, then it is all but a necessity that you have commercial insurance to protect both the company and your employees. In fact, Nebraska law requires that all small businesses – regardless of the number of full or part-time employees – carry both workers’ compensation insurance and commercial auto insurance if there are any company vehicles. Workers’ compensation insurance covers the cost, up to your policy limits, of any work-related injuries or illnesses. In contrast, commercial auto insurance ensures that regardless of whether they are driving a company vehicle or their personal vehicle on company time that they are covered for any accidents. 

Failure to carry commercial insurance can have serious consequences. For starters, you would be in violation of state law, which could result in substantial fines and other serious legal repercussions. Also, if one of your employees is injured while on the job or a vendor slips and falls at your location because of negligence, then you would be on the hook for all of their medical expenses and damages if sued, which ultimately could cost you the business. As a result, carrying commercial insurance offers substantial peace of mind and protects your livelihood from potential financial ruin. 

When it comes to shopping for commercial insurance, it is imperative to choose a company that has your best interests in mind. Consequently, if you are in the Omaha, NE area, look no further than the Ed Thompson Insurance Agency. With our vast experience in the insurance industry, we are uniquely positioned to help you find the right policy for your needs and are committed to earning your business today and into the future. Give us a call today to schedule your no-obligation consultation with one of our friendly and knowledgeable insurance professionals.