Follow the link below for a great article that addresses many of the common and dangerous myths that are believed and passed on by policyholders, “experts” and even insurance professionals.  Here are a few of those myths:

 “If I don’t have anything, they can’t get blood out of a turnip.”

 “There is no need to purchase liability limits higher than my net worth.”

 “That’s why I buy insurance (no need to implement risk management or loss controls).”

 “Corporate status will protect me from liability, I’ll just declare bankruptcy and shut down.”

 “Insurance is all the same.”

Insurance Lies Clients Believe And Pass On To Others

Source: Chris Boggs, Insurance Journal, August 2009