Whether you are the proud owner of a home-based or small business, you need the right insurance policy to protect you against everyday risks.
The type and amount of insurance that you need for your small business are based on a few variables to which your business is subject. What line of business are you in? Where is your business located? Do you have any employees under your wing? One of the best ways to narrow what kind of insurance policy you need is by determining what size business you have. Here are a few tips on how you can determine what kind of insurance you need for your small business – whether it is a home-based or a regular small business.
Home-Based Business
The greatest businesses around today all started in the home. Normally, home-based businesses make relatively little revenue and have, at most, one employee. Homeowners insurance does not cover any business-related damages. So, if one of your customers trips and falls in your home office and injures themselves, or if your business equipment, like computer or printer, gets damaged, your homeowners insurance will be void and likely reject any claims. You need the proper business insurance to protect you and your home business.
Small Business
Do you know all your employees by name? Does your business make no more than $5 million annually? A common small business insurance policy, titled Business Owners Policy (BOP), is for businesses that fit the requirement listed above. While you can certainly customize that policy to meet your needs, you can also purchase regular small business insurance to affordably protect your business.
When it comes to your home or small business, do not take any chances and get the right business insurance it deserves. Let the experts make sure you’re covered and contact Scautub Agency today!