You may think that because your business is located in your home, your home insurance provides all the coverage that you need. That is not the case. Home insurance is not designed to protect a home business, and you can be left unprotected if you decide to save money by not adding commercial insurance. At North Coast Insurance Services in Lexington, MI we are here to offer you the advice that you need. 

Home property insurance

Home property insurance is different from commercial property insurance. Commercial property insurance not only protects the premises, but it also protects all the things that you use to conduct business. Depending on what your business is, this may include tools, inventory, raw materials, and a lot more. You may find that your home insurance won’t cover most of your losses from your business. This could be an expensive omission. 

Home liability insurance

Home liability insurance protects you against legal actions taken against you if someone is injured at your home or by a member of your family at home or away. What it won’t cover is people who come to your home to do business with you. So, if a client or customer comes to visit and falls, you won’t be covered by your home insurance. This makes having commercial liability a necessity. 

If you have any employees as a part of your home business, you may need to have workers’ compensation coverage. If you have three or more employees or one employee who works 35 hours a week for 13 weeks or more, then the state mandates that you have this coverage. It is not something home insurance can cover. 

Consult With Us

Contact North Coast Insurance Services in Lexington, MI to discuss with us the ramifications of not having the right insurance for your home business.