Don’t ask an elm tree for pears, update your coverage

Don’t ask an elm tree for pears, update your coverage. There are business owners who comply with the formality of having commercial insurance, however, they have not internalized the importance of having such protection. This reality weakens them, makes them vulnerable, and turns them into victims of their erroneous perception.
In other words, by perceiving insurance as a formality, as an indispensable requirement to comply with the law, they ignore its protective role. Those who act this way create a destructive dynamic, since they renew their contract automatically, without updating it, and when an accident occurs, the insurance does not serve them. This reality, far from making them reconsider, reinforces the belief that: “insurance is useless. It is just a formality to comply with the law.”
However, if a business owner wants their policy to cover any claim, they must break that vicious circle based on erroneous beliefs and understand the benefits of having commercial insurance and the importance of regularly updating it.
The reality is that companies develop over time and acquire new machinery, add new locations, store more merchandise, increase their staff, or diversify their products. This development exposes the business to new risks that would only be covered if the coverage of the policy protecting the business is updated.
For example, imagine that your business expanded greatly and a fire forced you to interrupt your economic activity while you repair and prepare your company. If you had not updated the coverage, the compensation from the business interruption policy will be insufficient to cover the losses inherent to the forced cessation for two or three weeks. Then, salary costs, rent, loan repayment, and reconstruction damages will have to come out of your pocket.
Commercial insurance is not a formality, it is an important financial instrument that any responsible company must have to protect its assets. But it is only useful to the extent that it reflects the reality of the business to be protected. Don’t ask an elm tree for pears, update your coverage.

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