Do I need a business insurance policy for my home based business?
Many Utahns run small businesses out of their homes with NO business insurance and think nothing of it. Some may even think their homeowners policy will extend all the coverage they need because it is “just a small business”. Running a home-based business may help keep the overhead low, but you could be opening yourself up to a financial disaster!
Home based businesses do not take away all the risks of having a brick and mortar storefront whether you're selling a product or performing a service. Your homeowners policy will likely NOT protect you or your business for legal liability, business property and more. Having a business insurance policy can protect you from many situations such as:
Inventory and equipment stored in your home is damaged/stolen and your homeowners policy won’t cover the cost to replace some or all of it.
A client visiting your home base business gets injured and you are responsible for their medical bills.
Services you provide are delayed and your clients suffer financial loss.
An error in an online business post causes a lawsuit.
Protecting yourself and your business from bodily injury claims, property damage claims, or a lawsuit is critical to your success and financial security. If you have a home based business, let’s make sure you’re covered! Contact our Commercial Team at any of the following:
Email: firstname.lastname@example.org or email@example.com