The number of home-based businesses has been steadily increasing over the years. This trend comes as no surprise, as running a business from home allows you to save money by avoiding rent or the purchase of a separate business location. However, one area where you should not cut corners is commercial insurance. At Great Michigan Insurance in Marshall, MI, we can help ensure your business has the coverage it needs to protect against risks that could jeopardize its success.

Why You Need Commercial Property Insurance

Relying on your home insurance to protect your home-based business could be a costly mistake. Most home insurance policies have low limits for business-related property coverage. Commercial property insurance is specifically designed to cover the items you use for your business, such as records, office equipment, electronics, machinery, tools, inventory, and raw materials. Depending on the nature of your business, home insurance may leave you significantly underinsured.

The Importance of Commercial Liability Insurance

One of the biggest risks businesses face is the possibility of being sued. In fact, one in three businesses is sued every year. If you lose a legal judgment, it could devastate your business without commercial liability insurance. Keep in mind that your home liability insurance typically won’t cover incidents involving individuals visiting your home for business purposes.

How Business Interruption Insurance Can Help

If a covered event disrupts your business operations, business interruption insurance can provide financial support during the period when you’re unable to generate income. This type of coverage is not included in home insurance policies, but it can be crucial for the survival of your business during challenging times.

Contact our team at Great Michigan Insurance in Marshall, MI, to discuss your commercial insurance needs and ensure your home-based business is fully protected.