Coverage for Your Home-Based Business in Vero Beach

Coverage for Your Home-Based Business in Vero Beach

Many business owners make the assumption that if they operate out of their home that they don't need business insurance. This is false, and could actually put you at risk for significant loss. Your homeowner’s insurance is only going to provide things that are for your personal use. This means that anything that you have in your home used for business purposes would not be covered in the event of theft, damages to the home, or anything else.

Auto insurance

You may need to explore commercial auto insurance in Vero Beach if you use your vehicle for anything work related. This includes picking people up, shopping for supplies, or anything else. If you were to get into an accident conducting business, your personal auto insurance policy may deny the claim simply because it is not being used for personal use. This could end up costing you a lot of money due to auto repairs, property damage, and potentially medical bills for anyone who was injured in the accident.

Liability insurance

If you have people coming over to the house to conduct business, such as consultations, you will want to explore liability insurance. This way, should someone hurt themselves on your property, you have some kind of financial recourse. The insurance could take care of the lawsuit and settlement. Additionally, liability insurance can protect you in the event that someone sues as a result of advice or information that you provided. This is important for a lot of home-based businesses and you can learn more about this coverage by talking with an insurance agent.

Property insurance

Just as you would have property insurance if you were to have a freestanding building somewhere for your business, the same goes for if you have your business inside of your home. Your homeowner’s insurance is only going to protect things that you have for personal use. Business insurance in Vero Beach can also provide against commercial equipment and any part of the home that you are using strictly for business. If you section off a part of your home on your taxes, this is the same portion you would obtain property insurance for.

Other insurance

Depending upon the type of home-based business you have in Vero Beach, you may need other types of insurance as well. This includes protection for your computers, software, and even data loss protection.

To ensure your business is sufficiently protected, it is best to talk to a business insurance agent so that you can explore the possibilities. This will provide you with peace of mind and help you to be a responsible business owner. Plus, your business insurance premiums becomes a business expense.