Commercial Insurance and Home-Based Businesses

Owners of shops, stores, and offices know they need commercial insurance, but did you know that if you use a home office for meetings, you also need commercial insurance? It covers you for liability and your office equipment. Access Insurance Services of San Antonio, TX wants you to understand the importance of insuring your home-based business.

Homeowners’ insurance does not cover home-based business activities. You need commercial insurance if you conduct meetings at your home. It also covers your business equipment. If you use a vehicle for business only, you need commercial auto insurance. If you make a business claim on your home insurance, you can end up voiding your homeowners’ insurance.

Commercial coverage for home businesses covers the property, such as office equipment, general liability, product liability, professional liability, and business vehicle insurance. You may need errors and omissions insurance if your home business involves you giving professional advice for pay.

A homeowners’ policy only covers contents up to a percentage of the total home value. Check your policy to see how much coverage your policy provides. Now, tally the cost of replacing all of your office equipment. You probably found that it would quickly eat up most of the money you’d get for contents. A commercial policy covers those losses so you can spend your contents coverage on replacing your furniture and clothing.

While homeowners’ insurance covers you if your next door neighbor’s child slips and falls getting out of your pool, it does not cover your business client who falls down your front steps. You need commercial insurance for that.

If you sell a product, you need product liability insurance. It protects you if someone gets hurt using your product and sues you, or if the product does not work.

Call or contact Access Insurance Services of San Antonio, TX to learn more about commercial insurance for your home-based business. It is an important key to your financial success.