"Wrong," Pablo Conde, a forty-year veteran of the insurance industry tells us when we asked him exactly that question. "Businesses that go without get caught." Here's what Conde explained to us, and what to do if you get caught.
The Bill Always Comes Due
And no matter what you've heard, your coverage doesn't automatically apply across all businesses. Conde laid it out for us: "There's some incidences that I've seen where somebody will have a few companies, and one will not have the right coverage. The state sends a stop work order, and somehow the policy shakes out so that all the companies are covered." But as Conde notes, that's extremely rare and it's not necessarily something you should count on. And if you were hoping that an insurance company would give you retroactive coverage, Conde's rather concise: "That's not going to happen," he tells us with a laugh.