Understanding Insurance for Your Home Business

Having a home business has become increasingly popular because it allows flexibility and freedom from all the hazards that a small business faces. No worrying about rent or damage to your property when your business is located in your home. However, you must remember that home insurance was not designed to protect a home business, and you may find yourself underinsured if you rely on just home insurance. At Acme Insurance Brokerage in Amityville, NY, we make it our business to know your business and the coverage you require.

Property Insurance

Home insurance has property and content coverage. With commercial insurance, those two things are combined and covered under property. Your home insurance does have content coverage for personal property, so while it might cover some of your business property as part of personal property, a great deal of the things that you need to do business will not be covered and would be a complete loss. The cost of getting adequate coverage for your business needs will repay itself through peace of mind.

Liability Coverage

One of the easiest ways for your business to be ruined is through getting sued. Your home insurance does provide liability coverage and, hopefully, a great deal of it. Still, when people are visiting you to do business, they are not covered under your home insurance plan. If a customer is hurt or a vendor or even an employee, you could be left holding the bag for the amount of the lawsuit and the legal expenses.

Owning any business comes with many risks, and the number of businesses that fail is huge. Don’t be one of them, protect yourself with commercial insurance.

Contact us at Acme Insurance Brokerage in Amityville, NY to discuss all your insurance needs.