Why on earth would someone spend time writing a “primer” for business owners on commercial insurance?

I mean, think about it.  What do we usually hear about insurance?

• “Insurance is like marriage. You pay, pay, pay, and you never get anything back.”   Al Bundy

• Or,
  

  “It’s a rip-off, and insurance companies are just out to make money.” 

• “The wordings are so confusing and full of fine print.”

Every one of those statements does hold some truth.  Sometimes you do pay and never get anything back.  That makes some sense.  The whole premise of insurance is that “the premiums of the many go to pay the losses of the few.”  You may go through your lifetime and never have a claim.   You didn’t receive any money from the insurer. However, the insurer was there for you in case you did.   Is that different from paying Employment Insurance all your life and never being out of a job?

As for insurance companies, out to make money that makes sense too.  Aren’t you in business for the same reason?

The last statement about confusion is almost bang on.  The contracts can be confusing, so you must understand the wording of that policy.  It’s a contract between you and the insurer.  You pay a premium to transfer some business risks to the insurance company.

There is no doubt that insurance can be confusing, and therein lies the reason why you need to take some time and learn more about how you can protect your business.

Help is here!

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