Home businesses need insurance protection just as much as other “brick and mortar” enterprises. Home or renter’s insurance won’t protect your business equipment or provide liability coverage to protect your business assets if a client has an accident and gets injured while visiting your home for business purposes. At Goodman Insurance Inc. we can guide you to the appropriate insurance coverage to protect your Shelton, CT home-based business. Here’s why you need commercial insurance if you’re running a business from home.
Protection for Your Business Equipment
If your home business requires the use of business equipment like computers, printer, fax machine, office furniture, etc., you need business property insurance to protect these assets. Home insurance isn’t designed to protect business equipment or products. If your business equipment gets damaged in a fire or flood due to faulty plumbing, commercial property insurance will cover repair or replacement costs.
Protection against Lawsuits
If you have clients coming to your home for business purposes, you need commercial liability insurance to protect you against accidental injuries clients may sustain while on your property. Accidents happen all the time. If you’re found liable for an accident, a client can sue you for damages. Liability insurance protects your business assets by covering the legal fees of prospective lawsuits.
If your home business makes products or supplies products to the public, product liability coverage will protect you against damages your product may cause to customers due to faulty manufacturing or design.
Protection for Your Employees
If your home business employs one or more workers, you may need worker’s comp to protect your workers against injuries on the job. Worker’s comp also covers lost wages so your employees will have financial support while recuperating from their accident.
For more information on commercial insurance coverage and costs, contact Goodman Insurance Inc. in Shelton, CT.