Do You Need Commercial Insurance if You Have a Home-Based Business?

The past few years have shown that running a business from home is possible. People don’t have to leave the comfort of their home and meet clients in an office. In addition to the short commute and relaxed dress code, a home-based business, like a daycare, has low overhead. While it’s possible to stay home and make money, you shouldn’t rely on your homeowner’s insurance to protect you.

Every business has risks, including those run out of a residence. Even working from home, you can be sued, experience theft, or have liability claims brought against you. If you choose to run your business from your home, take time to speak with an experienced and knowledgeable insurance broker in Jackson, MS.

5 Indications Your Home-Based Business May Need Commercial Insurance

An experienced insurance agent can guide you through the process of obtaining business insurance. They will ask questions to determine if you need a commercial policy. If you answer yes to any of these questions, you may need the additional coverage:

1. Do you have clients, customers, or deliveries coming to your house?
2. Do you have inventory or supplies that you keep at your home or in an off-site storage unit?
3. Would you lose income if you had damage to your house, causing you to close your business?
4. Do you have employees that work in your residence?
5. Do you store client and employee records on your computer at home?

Examples of Home-Based Businesses that Need a Commercial Policy

If you’re not sure if your industry would benefit from having a dedicated policy, see if you fit within this short list:

• In-home daycare
• Accountant
• Online retail
• Dance instructors
• Private music teachers
• Paralegals
• Dog groomers
• Caterers
• Dance instructors

Flexible Coverage Types for Your Home-Based Business

When you speak with your experienced business insurance broker, they will expand on the following types of coverage for your specific needs:

• General liability – All businesses benefit from this basic coverage that protects you if you’re sued for personal injury, faulty products, or negligence.
• Business owners – This policy provides additional protection for the physical property you work in—like your house. It comes in handy with fire or other natural disaster claims that may arise.
• Cyber risk – If you hold customer or employee records on your computer, you need protection in case of a data breach.
• Worker’s compensation – This policy protects your employee and you in the event of an injury requiring medical care.

Protect Your Family and Your Home Business with Comprehensive Coverage

Take advantage of technology to run your business out of your home, but keep in mind that protecting your family and your company is vital. Work with a broker from Hawsey Insurance to ensure you have the right coverage for your unique situation. We work with companies from many different industries so look to us for comprehensive coverage at reasonable rates when you contact us today.

Call Hawsey Insurance at (601) 856-7707 for an insurance quote from an experienced insurance broker in Jackson, MS. Feel free to contact us online or make an appointment to stop by one of our Madison, Jackson, Southaven, MS offices.