Working from home, is it necessary to have commercial insurance? More and more Floridians are deciding to start a business from the comfort of their homes. Businesses like consulting, web development, freelance writing, photography studios, catering, accounting, tax preparation, home childcare, or tutoring are thriving within the four walls of private residences.
Consultants, for instance, earn substantial incomes by advising people from their homes on how to make the most of health insurance or healthcare plans. Others make a living giving financial advice or assisting with tax preparation. Those skilled in web development create stunning websites for businesses worldwide. Writers make a living creating content for companies, engaging in marketing campaigns, or managing various companies’ social media. Some entrepreneurs even prefer setting up their homes for childcare or tutoring or establishing a woodworking workshop.
If you’re among the brave souls who have decided to go solo and run your business from home—saving on rent, commute time, or warehouse fees—you shouldn’t overlook the fact that everything in life involves risk, and home-based businesses are no exception. I recommend getting commercial insurance to protect your venture from potential lawsuits, accidents, fires, or mistakes that all humans make.
The business owner’s insurance package tailored to the specifics of your home-based business should include general liability coverage that protects you from lawsuits for accidental injuries suffered by a client or damages your home business may suffer in the event of a fire, theft, or vandalism.
Many entrepreneurs believe that having their homeowner’s insurance policy will cover all accidents that happen within their homes. However, this assertion is only partially accurate because a typical homeowner’s insurance covers only a tiny amount of commercial property. Moreover, some policies exclude structures used for commercial purposes from their coverage.
Since businesses can vary, we cannot provide a one-size-fits-all recommendation. The best way to protect your business is to contact a Univista Insurance agent. The agent will analyze the characteristics of your venture and help you configure a policy tailored to your needs that protects your business and your wallet. Working from home, is it necessary to have commercial insurance?
Call us today for a comprehensive assessment! 305-728-2088. You can also get a free quote here.
