Home businesses are on the rise, and they have never been more popular. They offer a way to do business without paying an additional amount to rent or own a storefront or office. For many people, the lure of doing business from home, especially when you have a family is irresistible. On the downside, it is easy to forget that this is a business. It needs to be taken seriously and separated from your private life. At the Willyard Agency in Highland Village, TX, we are locally owned independent agents. We want to help you understand the coverage you have and suggest the coverage you may need to handle whatever life throws at you.
Yes, you do need commercial insurance for your home business. Home insurance covers your home and contents, and to some limited degree, it may cover your home business. It won’t provide adequate coverage for things like professional equipment, technology, and your records. But this isn’t the main problem with not having commercial insurance. When you have a home business, your home insurance liability won’t cover business injuries or issues. You could even lose your home insurance if they’re not aware that you have a home business. All businesses are vulnerable to being sued. Legal fees or a judgment against you could ruin your business. It would be best if you had commercial liability insurance.
Business loss coverage is an important protection. It will help pay the bill and even play your usual income if, for some reason, your business cannot operate. This could be damage from a fire, tornado, or other covered events.
If you live in or near Highland Village, TX, the Willyard Agency team would love to sit down with you. Let’s discuss how we can help you make sure that your home business is protected against all the potential hazards.