Most small businesses in Arizona run by a single person are bootstrap operations when started. Insurance is often skipped for the business if the sole proprietor already has insurance coverage through personal policies. That can include renters’ and homeowners’ insurance, auto insurance, and even regular day job health insurance. But this assumption can be mistaken, especially when it gets discovered that the claim against one of these policies turns out to be related to a sole proprietor business. That’s because when the personal policies were created, the insurance providers assumed they were addressing the risks of a private individual, not a business owner. The policy language may bar or limit anything associated with a business risk. The same is even more likely if the sole proprietor gets sued by a business’ customer and damages are sought from the litigation.
Commercial insurance solves the above problem for a sole proprietor. It is specifically designed for a business, and the risk assumed is business-related right from the start. Typical risks covered can and usually do include injuries during the course of the business, losses to the business property, and even lawsuits against your business activity. It’s almost a given that a private homeowner’s insurance is not going to accept these kinds of claims in comparison. For sole proprietors in Arizona, Genesis Insurance can find an appropriate provider, depending on the business need. Our staff regularly works with small businesses of all types in the commercial insurance market. So, to choose a policy or learn more about how commercial insurance works, give Genesis Insurance a call.