Do You Need Commercial Insurance for Your Home Business?

As more people discover the benefits of running a business from home, the question of insurance is bound to arise. A home-based business needs protection just as much as any other business on the outside. By discussing commercial insurance options with an agent from Statewide Insurance Solutions, you’ll have a better idea of the type of protection your home-based enterprise in Gurnee, IL needs. Here are some factors to consider when insuring your home business.

Business Equipment

Home insurance is designed to protect your dwelling and personal belongings, not the equipment used for business purposes. If your home is burglarized or your equipment damaged in a natural disaster, would you be able to recuperate your losses? Commercial property insurance can protect your business equipment against theft, fire, vandalism, storm damage, and other disasters common to your local area.

If you produce or sell products and are storing your inventory at home, property insurance will protect it against damage or loss in the event of a disaster. Property insurance provides much-needed funds to help you recover from a loss, so your business can continue to operate after a disaster. 

Liability

Home insurance protects you against personal liability claims that arise when someone has an accident on your property. If a client, however, has an accident while visiting your home for business purposes, your business could be held liable for his medical costs.

With commercial liability coverage, your business is protected against injuries or property damage claims customers may have while visiting your home-based enterprise. Product liability protects you against claims of property damage or injury caused by a defective product you manufacture or sell.

For more information about commercial insurance options for a home-based business, call or visit us at Statewide Insurance Solutions in Gurnee, IL.