Does my home business need commercial insurance

More and more people are opting for home businesses. It allows increased flexibility and saves on the cost of a storefront or business rental. The temptation to assume your personal insurance is adequate to cover your home business is strong. Chances are it isn’t and will leave you vulnerable to losses. At Bye Financial Group LLC in Grand Ledge, MI, we have 22 years of experience helping our clients to find the perfect commercial insurance for their business. 

Commercial auto insurance

You may think that your personal auto insurance is enough to cover your business vehicle. You need to reconsider that thought. It is a really good idea to keep your personal finances and your business finances separate. You may also find out the hard way that your personal insurance will not cover you in the event of an accident if you are using your vehicle for business purposes. 

Commercial liability Insurance

Liability exists everywhere. As a business owner, you are even more vulnerable to lawsuits being brought against you. Your home policy has liability coverage but you need to read the exclusions. You may find it will not cover people injured at your home who are there for business reasons. You also need to protect yourself against lawsuits from people suing you about services or products you provided. Home insurance won’t cover these. 

Commercial property insurance

Yes, you have home property insurance and yes, it will cover the walls and floors of your office. It might even cover your desk but it is a sad fact it probably won’t cover your office equipment, supplies, and any inventory you may have stored in your home. 

These are just some of the insurance lines that may be right for your home business. Contact Bye Financial Group LLC in Grand Ledge, MI to discuss what types of commercial insurance will work best for your home business.