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.