Home-based businesses are growing in popularity. Half of all businesses in the US are home-based and if you count businesses that don’t have employees, it goes over 60%. This brings with it many new challenges for businesses and it is more important than ever that you understand how commercial insurance can protect your business and how inadequate non-commercial insurance is. At Alta Vista Insurance Agency in Vista, CA, we understand business risk and how it can be mitigated with commercial insurance.
If your business is located in your home, you may think your home insurance offers you the coverage you need. It will supply some very basic coverage but not for anything that is particular to your business. While it might cover a computer, desk, and copier, it won’t cover any specialized tools or machinery relating to your specialized business. You also won’t have the coverage for the inventory and raw materials your business requires.
Commercial liability insurance
If you are meeting with clients or customers in your home and they are injured, your home insurance won’t cover them. If vendors come to your home, you also won’t be covered for any injury they sustain. Home liability insurance won’t cover any people who visit for business reasons, only personal reasons. An injury can lead to a legal suit and a judgment against you and it could be enough to torpedo your business for good without the right insurance.
Commercial auto insurance
If you are using your personal vehicle for business, you will not be covered if you have an accident where you are at fault. It is important to get commercial auto insurance for any vehicle you use for business purposes.
Contact Alta Vista Insurance Agency in Vista, CA when you are ready to discuss your commercial insurance needs.