Why you need commercial insurance for your home business

Basing your business at home is becoming more popular all the time. It is less expensive when it comes to a start-up than having to rent a business location. You may assume that because your business is located in your home, your home insurance is adequate coverage. At Stonewall Grace Insurance in Buena Vista, VA, our experienced team can advise you on all aspects of commercial insurance and where your home business will find home insurance lacking. 

Commercial Property Insurance

Your home insurance has personal property coverage. It is designed to replace your furniture and things like clothing, books, and items you use every day. Your home business is likely to use many things that are not personal property. Home insurance will not provide the coverage you need for your raw materials, inventory, and things that are strictly business items. 

Commercial Auto Insurance

If you are using your personal vehicle for business purposes, you need to rethink that. If you have an accident while you are in the process of doing business, your personal insurance won’t cover you. That is very serious and could cost you your business and your personal wealth. You need to have your business vehicle covered with commercial auto insurance. 

Commercial Liability Insurance

Any business is vulnerable to being sued. Anyone who visits your home on business has the potential to be injured and sue you. If you are sued by someone visiting for business, your home insurance won’t cover the injury. That could cost you everything you have, and it isn’t worth the risk. 

Workers Compensation

If you have more than two employees, this is something you need to think about and are required to have. 

Contact Stonewall Grace Insurance in Buena Vista, VA to discuss your home business and commercial insurance.