Need more space for your business? Whether you’re leasing commercial space or purchasing a building, you’ll need the right insurance coverage to protect you and your company.
It’s always a good idea to call your insurance agent well before you commit to buying a property. Certain features of a property, materials used during construction and even its location can affect the cost of coverage. You’ll want to know the cost of insuring a property while you’re deciding on a location, not on closing day! If you’re leasing space, contact your agent before you sign a lease.
If you own a property, you’ll want to make sure that you are properly insured in the event that a fire or other disaster destroys the structure and everything in it. Even if you’re leasing, you still need your own insurance because your landlord’s insurance coverage will not cover your company’s belongings in the event of a disaster.
Beyond protecting your possessions, you’ll want to make sure you have enough liability coverage in the event that someone is injured at your place of business. Even if you’re leasing, you’ll want to make sure that if someone is injured on your property, you have the right coverage to protect you and your business from costly legal action. Don’t assume that your landlord’s insurance policy provides any protection at all to your business.
Still operating your business out of your home? You still need business insurance! Standard homeowners policies will not cover your business equipment or inventory in the event of a fire or other disaster.