Call Us 512-871-0864 ☰ ˟
Logo
  • Home
  • Get A Quote
    • AutomobileImage of right arrow
      • Mexico Travel Insurance Quote
      • Classic Care Quote Form
      • Auto Quote Form
    • Bonds
    • Business & CommercialImage of right arrow
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
      • Business Owners (BOP) Quote Form
      • Builders Risk
      • Liquor Liability Quote Form
      • Workers Compensation Quote
      • Landlord Property Quote Form
      • Other Quote Form
    • Farm
    • Flood
    • HomeownersImage of right arrow
      • Homeowner Flood Quote Form
      • Landlord Property Quote Form
      • Homeowners Quote Form
    • LifeImage of right arrow
      • Life Insurance Quote
      • Term Life Insurance Quote
      • Other Quote Form
    • Motorcycle
    • Recreational Vehicle
    • Renters
    • Trucking
    • Watercraft & Boat
    • Windstorm
  • Customer Service
    • AutomobileImage of right arrow
      • Request ID Card for Auto Policy
      • Send Declaration and Coverages Information to Lien Holder
    • Business & CommercialImage of right arrow
      • Request ID Card for Commercial Auto Policy
      • Request General Liability Certificate of Insurance
    • Homeowners
    • Motorcycle
    • Other
  • Blog
  • Resources
    • Refer a Friend
    • Important Links
    • Insurance Glossary
  • About Us
    • About Nancy Kuznieski Insurance Agency, Inc.
    • Location Map
    • Employee Directory
    • Customer Testimonials
    • Privacy Policy
  • Contact
    • Contact Us
Icon Auto Icon Home
Icon Flood
Icon Business
Icon Life Icon Motorcycle
Home > Blog > Do You Need Business Insurance For Your LLC?
FRIDAY, MAY 6, 2022

Do You Need Business Insurance For Your LLC?

If you recently started a business, you may have opted to make it a Limited Liability Corporation (LLC). Some benefits of an LLC include the protection of personal assets and the avoidance of income double taxation. However, despite the advantages of an LLC entity, your business is still at risk.a man sitting at a table using a laptop

Here’s more about whether you need business insurance for your LLC.

Protection Of Business Assets

Most of the time, the formation of an LLC guarantees the protection of your personal assets from being used to fulfill business obligations. This means that in the event you are sued, personal assets — such as a house or car — cannot be seized.

However, while your personal assets are protected, you still need to worry about your business assets. If some gets injured in your office or shop and you don't have general liability insurance, you may end up being responsible for any costs related to the injury. Your business assets may be seized to help cover the cost of the injuries. Some examples of business assets that may be seized include equipment, cash, materials, and accounts receivable.

Complete Protection Of Personal Assets

Unfortunately, the protection that an LLC entity offers when it comes to personal assets is not complete. Even if you have an LLC, there are some situations where you may be deemed personally liable. For example, if you mix your personal and business assets together, your personal assets may be at risk in the event you are sued. Also, if you knowingly or unknowingly do something illegal, your personal assets could be at risk.

A common misconception is that business insurance is not required for an LLC. This couldn't be further from the truth. An LLC does not provide complete protection of your personal assets. Also, the protection of business assets is minimal. For more information about why you need business insurance for your LLC, don't hesitate to contact us.

Sources:

https://www.hiscox.com/blog/3-reasons-your-llc-needs-small-business-insurance

Posted 3:40 PM

Tags: business insurance
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2022
  • 2021

  • business insurance(2)
  • home insurance(2)
  • auto insurance(2)
  • flood insurance(1)

View Mobile Version
Insure your needs today!
Social Social Social Social
Quick Links
Home
Get A Quote
Payment Options
Report a Claim
About Us
Our Carriers
Blog
Contact Us
Location 2312 Western Trails Boulevard
Suite 102B
Austin, Texas 78745

Ph: 512-871-0864
Fx: 866-882-8011
Powered by Insurance Website Builder