Many home businesses have minimal assets and minimal risks, and commercial insurance isn’t necessary in every case. Homeowners insurance might provide enough basic coverage, for instance. Here are two times, however, when you may need commercial insurance for your home business.

1. More Business Assets Than Your Homeowners Policy Covers

Any equipment, supplies, or products used specifically for your business are usually considered the business’s property, not your personal property.

Homeowners insurance policies provide substantial coverage for personal property. They don’t treat business property the same, however. Your homeowners policy may offer no business property coverage or provide only very minimal coverage.

A commercial insurance policy can fill this gap if your homeowners policy doesn’t adequately cover your business’s property. Without owning a building, you can get a commercial property policy for a Rock Hill, SC business.

Our agents here at Wil Plyler Insurance Agency can help you check whether your current homeowners policy covers your business’s property.

2. Risk Exposure That Your Homeowners Liability Coverage Excludes

Even home businesses can be sued for causing another person harm. A client could be injured while visiting your home office, your product could injure a customer, or a competitor might claim they were defamed. All of these could result in a liability lawsuit against your business.

Sometimes a homeowner’s insurance policy will provide basic liability coverage for a home business, but this isn’t always offered and can be extremely limited. If your business’s liability risks extend beyond what your homeowners policy will cover, then a commercial liability policy is probably needed. We at Wil Plyler Insurance Agency can help you decide what type of commercial liability policy would be best.

Insure Your Home Business in South Carolina

If you’re located in Rock Hill, SC, and need help insuring your home business, contact us. Our team is ready to assist you.