Personal & Business Insurance: Why the Conversation Should Be About Both

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We find many business owners, while they have liability insurance on their companies, are not taking the same approach to protecting themselves when it comes to their personal lives. Also, by not properly insuring themselves, they are often potentially putting their equity in the companies at risk.
— Adam Hale, Co-Founder & COO of Summit CPA Group

Some Business Risks Transcend the Corporate Veil

  • Discrimination and sexual harassment claims can be filed against a business and against an individual. Having insurance that covers BOTH entities is vital.

  • If you serve on a non-profit board as an individual or a representative of your company, your business and personal assets could be exposed.

Your Personal Interest in a Business Could Be Vulnerable

  • If you were found personally liable for an incident, your portion of the company profits — including future earnings — could be at risk.

  • The question is — Do you have enough coverage considering your level of personal wealth? For the most part, the answer is probably no. Failing to have sufficient personal coverage can have an adverse impact on business interests as well.

Contact us today for a complimentary consultation to review your insurance needs!