Florida Insurance Blog

Do I need commercial insurance for my home business?

In the United States, 50 % of small businesses are considered home-based, and Tampa, FL is no exception. For many service businesses, a storefront is not a necessity, especially if you spend a lot of your time visiting clients at their locations. You probably would not even question the need for commercial insurance if you had a storefront. Still, with a home business, it probably seems as if insurance you already have, like home or auto, will offer you the coverage you need. At Morgan Insurance Services, we have over 100 years of combined experience we share with our customers. 

Your home insurance covers the contents of your home. However, it may not give you adequate coverage for your business materials stored in your home. Most home insurance policies will not cover the theft of your business equipment as part of home coverage. Your independent agents will be able to help you to determine if you have the right coverage. In most cases, adding a commercial liability policy will ensure your business is protected, and that protection is critical to your business’s health. 

Commercial liability and/or professional liability are important coverages. If someone is injured while visiting you at your home for business reasons, they won’t be covered by home insurance. You also need protection against a mistake or omission you may make in the performance of your job or if a product you produce injures someone. 

If your business owns even one vehicle, having commercial auto insurance is a must. It is always a good idea to keep your business and personal finances separate. 

Owning a home-based business is often a good option and offers incredible flexibility. At  Morgan Insurance Services in Tampa, FL, we have the information you need to create the perfect commercial insurance policy for your business. Give us a call or stop by for a no-obligation quote.