Do I Need Commercial Insurance if I Just Started a Home-Based Business?

Many people enjoy starting a business from their home. It has tremendous appeal because it is a way to make some extra money while keeping expenses to a minimum. The decision about what kinds of commercial insurance is needed for a home-based business depends very much on what type of business is operating from the home. Another consideration is and whether there will be any clients or customers that come to the home.

Talk with your agent at Blanchard Insurance, serving Altamonte Springs, FL and the surrounding communities, to learn more about this to make sure you and your business are protected.

Commercial Insurance for Home-Based Businesses

There are many reasons that make it a wise idea for a home-based business to have commercial insurance, which are:

  • If your business requires a professional license from the state of Florida, then you need professional liability insurance and you probably also need to have commercial insurance of other types.
  • If anyone comes to the home for a business purpose having commercial insurance is important.
  • If you hire workers, Florida’s laws require businesses to have worker’s compensation insurance if they have four or more workers. It may still be a good idea to have worker’s compensation insurance even if you only have one worker because this insurance helps to limit the liability of the business owner(s) if a worker is harmed, injured, or killed on the job.
  • If you use any vehicle for the business, especially if you let other people drive it, you need commercial vehicle insurance.
  • If a portion of the home is reserved for use as a home office, that portion needs separate commercial insurance since it will not be covered in the home insurance.
  • If you make any product that is for sale, you will want to consider product liability coverage.
  • If you offer personal services like nail care, skin care, or massage therapy, etc. you will probably want to have liability coverage.
  • If your home-based business is a major source of your income, you should consider business interruption insurance so that you can pay the bills if the business is unable to operate due to an unexpected event.

Contact your agent at Blanchard Insurance in Altamonte Springs, FL by calling 407-788-8640 or by using the convenient online form to get a quote for commercial insurance.

Get the Right Commercial Insurance for Company Vehicles

For the newly established small business, it may seem like common sense to simply use the family truck to deliver your goods.  You don’t have to pay out for a large expense right away and the vehicle does the job you need.  However, leaving the same personal auto insurance on the vehicle is not a great idea.  Should something happen while the vehicle is being used for your company, only commercial auto insurance from Blanchard Insurance is going to offer the coverage you need.

Protect Your Company

People often look at any business as a deep pocket.  Should your vehicle be involved in a fender bender, commercial insurance will protect company assets beyond the required minimums for personal vehicles. When it is difficult enough to maintain a positive cash flow, paying out exorbitant fees or settlements due to a simple accident simply doesn’t make sense. Talk to an agent today about what parts of commercial insurance will help in times like these.

Protect Your Employees

Commercial auto insurance is designed to provide coverage to employees who are using vehicles for company business.  Personal auto insurance won’t provide the same options and coverage in case of an accident. By investing in the right options, your staff can perform their duties with confidence knowing that they will be taken care of when unforeseen circumstances occur while using the company car.

Protect Your Customers

Your vehicle might be used to visit many different properties over the course of business.  Commercial auto insurance will ensure any damage or injury to a patron or their property caused by your vehicle or employee will be addressed in a prompt and professional manner, protecting your future relationship with that patron for years to come.

Your insurance agent at Blanchard Insurance will be happy to discuss all the options for commercial insurance, including auto coverage with you. Give them a call today.

Insurance Every Distributor & Manufacturer Should Have

One of the newest innovations in manufacturers and distributors’ insurance  is a product called ‘Stock Throughput Insurance’.  This product is designed for companies that import, export and/or distribute goods and merchandise. Example of industries that need this insurance are:

  • Electronics
  • Furniture
  • Seafood

What does ‘Stock Throughput Insurance’ cover?

Stock Throughput Insurance provides you coverage for your inventory from the source to its final destination and all the transit in between. For example, if you sell electronics from China then the Stock Throughput Insurance would cover you from:

  • China across the ocean
  • At port
  • While in transit from the port to warehouse
  • At warehouse
  • While in transit from warehouse to final destination

What are the benefits of ‘Stock Throughput Insurance’?

This coverage allows you to eliminate other insurance policies such as Ocean Marine, Inland Marine, and a large portion of Business Personal Property. This helps reduce premiums by putting all your coverage needs under one policy. In addition, Stock Throughput Insurance is tailored towards distributors/manufactures unlike standard Business Personal Property which results in the rates being extremely competitive. We have seen up to 50% reductions on premiums when introducing the Stock Throughput Insurance. Below is a summary of Stock Throughput’s advantages:

  • Provides total coverage from source to destination and all transit in between
  • Eliminates other policies resulting in significant savings
  • Competitive rates for distributors/manufactures

Contact Blanchard Insurance at 954-999-5858 or Ari@BlanchardInsurance.com to see how Blanchard Insurance and Stock Throughput Insurance can improve your business in regards to coverage, pricing and most importantly service.