Operating a business from home can significantly reduce your expenses. However, certain costs, such as commercial insurance, should not be overlooked. Commercial insurance may seem like an additional expense, but it can protect you from substantial bills in case of unforeseen incidents. Moreover, certain types of commercial insurance are mandatory, even for home-based businesses.
Workers’ Compensation Insurance
You must have a workers’ compensation insurance policy if you employ one or more individuals. This policy covers medical bills, lost wages, and other expenses if an employee gets injured while working. Compensation is provided irrespective of who is responsible for the injury.
Commercial Auto Insurance
Commercial auto insurance is necessary if you use your vehicle for business purposes, such as traveling to local markets or job sites or delivering orders. This policy also covers employees who drive company vehicles.
Commercial Property Insurance
While home insurance may cover some commercial property damage, the coverage limit is typically low. If you own expensive equipment or store business inventory at home, you’ll want to ensure all your assets are fully covered.
Liability Insurance
Liability insurance is essential for online vendors. It protects your business against claims of injury caused by your products and allegations of false advertising.
Get in Touch with QuoteBroker Insurance Services in Santa Clarita, CA
QuoteBroker Insurance Services specializes in assisting home-based business owners in and around Santa Clarita, CA, with commercial insurance policies. Contact us to review your insurance policy options and select the coverage that best suits your needs.
