Starting Your Company From Home? You Need Small Business Insurance

You are showing a potential customer your collection of goods when they slip on a water puddle in your garage and take a hard fall. They swear that they are okay, but you call for emergency services just to be on the safe side. Weeks later, your potential client sends you their medical bills along with a tab for wages lost as a result of their fall. It appears that the injury was worse than they imagined. “No worries,” you figure. “Homeowners’ insurance will pay for it.” No so fast! Your homeowners’ indemnity policy does not pay for incidents related to your small business in Huntington, MD. This is why you need the agents at Monterey Insurance Group, Inc. to help you choose a small business insurance plan. 

Maryland is the ideal place for a startup

The residents of Calvert County understand the importance of small businesses, which is why they strive to support entrepreneurs. Maryland is the perfect spot to start a company, which is why many ambitious business owners launch their visions for a company out of their homes instead of trying to find retail space. The problem with such a leap is that many entrepreneurs enter into the sector as company owners without realizing how much their homeowners’ insurance policy does not cover. 

Homeowners’ insurance is not suitable for your business

Too many homeowners and new entrepreneurs assume that the indemnity policy used for their residential property is also valid for their small business. It is not until a company-related incident occurs on the premises that they realize how much assurance they lack. Unfortunately, finding out that you are underinsured while staring at a bill that the indemnity company will not pay for is not the best option. 

It is crucial, then, for small business owners working from home to understand that their homeowners’ insurance was not designed to pay for damages related to their company. You need a different policy to pay for costs if a client is injured during a consultation.

Small business insurance is necessary 

The best home-based insurance options include general liability insurance that pays for personal injury suits as well as medical bills related to incidents. You may also obtain a policy in Calvert County that covers defective products and faulty services.

The central purpose of starting your small business from home is to cut costs. You do not want to end up paying more than you bargained for because you failed to obtain proper insurance to cover your startup. Let the agents at Monterey Insurance Group, Inc. help you find the small business indemnity policy that is right for your situation in Calvert County.