What type of commercial insurance does a home business need?

You might think that you can get away without carrying insurance for your business if you run it from your home. In very few cases, you can, but most companies do need a commercial insurance policy.

Brevard Insurance Agency Inc. serves Brevard, NC with a full range of commercial insurance options. Read on to determine which type of commercial policy your home-based business needs.

Your Only Office Is in Your Home

When you establish a business and your only office is in your home, all of your business equipment gets stored at your house. Your homeowners’ policy does not cover your business equipment because it does not qualify as personal property. It qualifies as business property. You ensure it separately.

Your Hold In-person Meetings at Your Home

If you have meet-and-greets, meetings, or other gatherings at your home for your business, then you need a business liability policy. This includes Tupperware parties, Pampered Chef gatherings, etc. Your homeowners’ policy only covers personal liability, so your business meetings will require a business liability policy.

You Built a Separate Workshop or Office

Your homeowners’ policy does cover your entire house, even your home office, so if a tornado wiped out your home today, your home policy pays to rebuild the entire structure. If you build a separate structure, though, separate from your home, you need separate coverage for it. Using it for business purposes means you need to cover it with a real property insurance policy that covers the structure and its contents.

You Store Inventory at Your Home

You need a business property policy that specifically covers inventory. You can bundle this with your business equipment coverage.

You Store Your Client’s Items at Your Home

You’ll need the same type of insurance your dry cleaner uses. Typically, you’ll need inland marine insurance since you store another individual’s or organization’s property. This policy type also covers the transport from their home to yours and vice versa.

Call Us Today

Contact Brevard Insurance Agency Inc. serving Brevard NC, for more information on commercial insurance for your home-based business. Tell us about your business, and we will help you find the appropriate insurance to cover it against loss.