Do you need to have commercial insurance for your home-based business

Thousands of small businesses exist in the US, and some of them are home-based. Whether your business is home-based or not, you must protect it. One of the best ways to do it is to have commercial insurance. However, here is a question: do home-based business owners need commercial insurance?

The short answer is yes, you should have insurance to protect your home business. However, the choice of insurance depends on the type of business you have. For example, if you own childcare business insurance, it will be different from the insurance of your friend running an accounting business. 

Depending on the features of your home business, you need insurance that will protect you against property loss, fire, theft, and other perils. You should also have liability protection. It helps if someone, for example, is injured while visiting your business property. It is crucial to point out that your home insurance may provide some protection, but it might not be sufficient. 

Also, even if you operate your business from home, you may have employees. If you do, you should also get workers’ compensation insurance. It provides wage replacement and medical benefits to injured employees who cannot continue working.

Wayne Realty & Insurance Co Inc. – Serving Clients in Goldsboro, NC 

If you are considering starting a home-based business or already have one, you should consider getting proper insurance. At Wayne Realty & Insurance Co Inc., we are ready to answer all your questions and help you find the insurance you need. Feel free to reach out to us today to have insurance tomorrow.