New home businesses are on the rise. The Small Business Administration estimates that 50% of small businesses are home-based. Home businesses have many attractions, including not needing to pay for a storefront or business location. It also allows for flexibility. Since you already have home insurance, you may think you can get away without commercial insurance, but that would be a mistake. In Augusta, GA, at Whit Blanchard Insurance Group, we have been providing friendly hometown service for 45 years. As independent agents, you can provide choices.
Commercial property insurance
It is tempting not to get a commercial property insurance policy for your home business since you already have home insurance. Don’t give in to the temptation. While your home insurance may give you some limited coverage, it likely won’t be as much as you need to really protect your business.
Commercial auto insurance
If your business owns even one vehicle, you need commercial auto insurance. If you use your personal auto insurance to protect yourself when driving for business, your insurance may not cover you. It is also a good financial idea to keep your personal finances and your business finances totally separate.
Commercial liability insurance
This is one of the most important types of commercial insurance, and home businesses are no exception. As a business, you are vulnerable to legal suits against you. If someone is injured while visiting your business or by a product or service you provide, you may be sued. This involves legal fees and a judgment against you.
Business interruption insurance
If something happens to your home, a tornado, or fire, for example, you will not be able to do business. This insurance will make sure that you still have an income while you rebuild.
Contact Whit Blanchard Insurance Group in Augusta, GA to discuss your commercial insurance needs.