Insurance Myths Versus Realities

Common Myths

  • I’m covered because I have a policy.
  • “I don’t need insurance because…
    • It’s not required
    • I’ve got an ironclad contract
    • I’m only liable for the cost of the inspection
    • I don’t have assets
    • I’m not a corporation
    • I have a personal Umbrella policy
    • I don’t have employees.”

The Realities

  • Anyone can sue you, at any time, for any reason!
  • Frivolous lawsuits are the #1 reason for small-business bankruptcy.
  • A personal Umbrella policy will not fully cover your personal liability let alone your professional or business-related liability.