Do you need commercial insurance when you work from home?

Commercial insurance is designed to protect your business from losses related to things like theft, liability, and property damage. While the average company owner seeks out indemnity coverage for his traditional brick and mortar establishment, the new age millennial may deem commercial insurance as unnecessary for his work-from-home business. The reality, however, is that homeowners or renters insurance is not enough to cover your company in the event of an incident. You need commercial insurance if you have a home business in Evergreen Park, IL, which is why Martin Insurance Team is here to help. 

What homeowners insurance covers and leaves behind
Yes, homeowners insurance protects if your family gathering turns tragic and someone falls down the stairs. The policy, however, does not cover a client falling down those stairs after having a productive meeting to discuss services offered. A traditional homeowners insurance policy also leaves behind all property damage occurring on the premises except $2,500. Many small business owners have computers costing more than such amount. 

Commercial insurance has you fully covered
A liability insurance policy for your small business can guard against losses related to accidents if you, like several work-from-home entrepreneurs, do not have the significantly expensive equipment. You may also want to search out a comprehensive package policy, known as a business owner’s policy (BOP), that provides general liability coverage as well as property protection. Some BOP options include business income that pays you for wages lost should your company need to close due to extensive damage. 

Whichever option you choose for coverage, you want to make sure that you have an expert explaining the nuts and bolts of commercial insurance. Do not be caught underinsured, Evergreen Park, IL. Call Martin Insurance Team today for a consultation.