Insurance coverage is critical for protecting a home-based business, but it’s often overlooked by most entrepreneurs. Oftentimes, they deem small business insurance as unnecessary because they already have home insurance. But this type of insurance does not cover the business per se, which means that should a customer file for damages against your company, you won’t have the necessary coverage to pay for them.
Whatever type of home-based business you have, it is highly advised that you seriously consider having it insured. If you’re still undecided, take a look at some of the benefits of having small business insurance.
1. Financial protection against damages. If a customer sustains an injury while using any of your products and they claim for damages, your insurance can cover these for you. Depending on the extent of the injury, you may not be required at all to shoulder some of the expenses from your own pocket.
2. Protection against loss or damage while in transit. If your products get lost or damaged during shipping and/or delivery, these can be replaced at no cost to you. Your insurance provider may shoulder the cost of replacement.
3. Protection against theft or robbery. Should your products, business equipment or other items enumerated in your policy get stolen, your insurer will also cover the cost of replacement—or pay for their equivalent monetary value.
With small business insurance, you won’t have to worry about out-of-pocket expenses to cover damage claims or losses anymore.
There are many types of insurance coverage for small businesses that you can consider. You should discuss your options with an insurance expert to learn more about what you need for the full protection of your home business.
If you wish to learn more about business insurance, please contact Breathe Easy Insurance Solutions at 866.822.7755 or get a free quote.