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Business Insurance And Personal Exposure

If you’re running a business from your home, you have no insurance coverage for a business exposure. Personal homeowner, auto or umbrella policies provide no coverage for business liability, professional liability, workers’ compensation, business auto, business equipment, and loss of business income. Some homeowner’s policies have a business liability endorsement but this endorsement creates a larger problem. Most small business owners want to keep personal finances separate from a business liability exposure. If an insured insures business liability on a personal homeowner’s policy the insured has guaranteed exposure to personal finances. All small business has to keep expenses low for survival but business insurance coverage is not the place to cut cost by going without or cutting corners on the basics of coverage. Even if the small business is a part-time supplement to personal income purchase the basic business insurance. Business general liability, business auto insurance, and worker’s compensation insurance should always be purchased no matter what the size of a small business. Small business is the engine of all economies but don’t let a small business dream expose a life of personal happiness and finance.