THURSDAY, FEBRUARY 9, 2023
According to the U.S. Small Business Association, half of all businesses start at home. Whether your business plan involves temporarily working out of your home or working from your house indefinitely, you should consider insurance for your home business.
We’re here to help. Contact Abbott Insurance Agency LLC in Minneapolis, Minnesota, to learn about our insurance options.
What Is Home Business Insurance?
Homeowners insurance and renter’s insurance don’t usually cover business-related risks. For example, if somebody is injured on your property because of your business, you may need additional coverage to help protect you from costly medical bills and legal fees. Home business insurance is specifically designed to provide coverage for people who operate businesses from their homes.
Types of Home Business Insurance
Numerous types of insurance could benefit your home business. Depending on the work that you do and how you do it, your home business might benefit from the following coverages:
- Workers’ compensation insurance
- Property Insurance
- General liability insurance
- Professional liability insurance
- Commercial auto insurance
- Cyber Insurance
Contact Abbott Insurance Agency to learn more about your home business insurance needs.
Do I Need Insurance for My Home Business?
The following are examples of instances in which your home business might need insurance:
- You have employees.
- You store supplies, inventory or products at your home.
- Customers and clients visit your home.
- You collect and store employee and/or client records.
- Home damage would interrupt your business.
There are many other scenarios in which insurance could benefit your home business. Ask your insurance agent if you need home business insurance.
How Much Does Home Business Cost?
Several factors could impact the cost of your home business premiums, including the following:
- Number of employees
- Type of business
- Business size
Contact Abbott Insurance Agency for a home business insurance quote.
Finding the Right Coverage
Let us help you find the best coverage for your needs. Contact Abbott Insurance Agency to learn more about our home business insurance options and to speak to an insurance agent.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.
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