Home businesses have been growing in popularity for some time and about 50% of small businesses begin as home businesses. It is a big advantage not to have to rent or buy a building to house your business. But, you may think that this also saves you money, since you won’t need commercial insurance. That could be a very bad decision. At Dalessandro Agency Inc. in Grand Rapids, MI, we understand home businesses and also commercial insurance.
Why your home business needs commercial insurance
Why you need commercial property insurance
Home property insurance covers your home and there is separate coverage for content. The content of your home is not the same as what you need to protect your business property. You might get a little bit of coverage from your home policy, but it is not designed to replace inventory or business tools. You need insurance that is personalized for your particular type of business.
Why you need commercial liability insurance
If you are running a business out of your home and you are serving clients or customers in your home, you could be sued by someone who is injured while visiting you or who is dissatisfied with a product or service you provide. If someone sues you after visiting your home on business, or just for the injuries, your home insurance won’t cover the claim. They will only cover non-business-related injuries.
Why you need commercial auto insurance
Most people who have a home business don’t realize that if you are using your personal vehicle to do business, your auto insurance won’t cover you. It covers you for non-business-related accidents, but if you are delivering something to a customer and have an accident, you are out of luck. It isn’t worth taking the risk.
Contact Dalessandro Agency Inc. in Grand Rapids, MI for all your commercial insurance needs.