First-time business owners have plenty on their plate. The first decision before opening the doors is figuring out the type of insurance coverage for their business. Kalare Tech of New Windsor, NY has the knowledge and experience to show how commercial insurance ensures your business is well-protected.
What is Commercial Insurance?
All businesses that operate in a home, warehouse, or office space should have a commercial insurance policy. It protects you from financial losses following unexpected events (lawsuits, work-related accidents, or natural disasters) happening to your business. The policy should have general liability coverage, as commercial insurance is intended to protect a business and not an individual. Your coverage fills the gap in separating your personal and business assets. It allows you to operate without the threat of financial catastrophe.
Do Home-Based Businesses Need Commercial Insurance?
Every home-based business should have a commercial insurance policy that works in unison with the policyholder’s homeowners insurance policy. The additional coverage protects business equipment, inventory, and property damage. Your commercial insurance policy should have liability coverage if legal action is brought against your business. A former employee could file a lawsuit after sustaining a work-related injury. A former client could sue if they were dissatisfied with the service. Commercial insurance will cover all legal fees, medical expenses, and lost wages.
Is Commercial Insurance Good For Self-Employed Businesses?
Self-employed business owners should protect themselves from general, product, and professional liability. Since you are the sole employee, commercial insurance protects you if you cannot work for an extended time. The amount of coverage should include protection from unexpected costs in running a business.
Owning a small business can be demanding. You want to protect your assets with an effective commercial insurance policy. Kalare Tech of New Windsor, NY, can offer reasonable options that fit your insurance needs. Call and schedule an appointment today.
