Why your home-based business needs commercial insurance

More entrepreneurs are opting to base their businesses in their homes. It is an excellent financial decision for many reasons, including not having to pay rent to use your home. But, if you think it is a good idea to rely on your home insurance to give you the protection you need, you should reconsider that decision. At Insurance Protection Specialists in Flowood, MS, we know that home insurance is not designed to protect a business, and we will show you the benefits of commercial insurance coverage. 

Property coverage

Home property coverage is very different from commercial property coverage. It is not designed to cover what you use to conduct your business. Commercial property coverage is a combination of property and personal property. It will cover the tools, the office equipment, and any of the other things that you use in the course of doing business. Home insurance is not designed to cover these types of items. 

Liability coverage

Home liability insurance will cover personal visitors who come to your home. Still, it will not cover anyone who visits for business purposes, whether a client or a vendor. Getting sued can be very damaging to your business. 

Workers compensation coverage

If you have employees, a minimum of five, they must be covered by workers’ compensation insurance. It protects both you and your employees. 

Business interruption insurance

Businesses face many risks and can be closed by any of them at almost any time. Suppose it happens, and you must maintain your business even when you are forced to close temporarily. In that case, this insurance can help you to survive by providing the money you need to meet regular expenses. 

Contact our office at Insurance Protection Specialists in Flowood, MS, when you want to discuss your home business commercial insurance coverage.