What You Should Know About Self-Employed Business Insurance

Protecting your self-employed business.

Many businesses start with a sole person taking a leap of faith. Whether that’s you or you’ve opted to freelance, you’ll know that being self-employed is exciting and nerve-wracking at the same time. However, it’s important that you take into account the variety of insurance coverages you require now you’re going at it alone.

Business Insurance

Business insurance refers to a broad range of insurance types that are designed to fill the gaps in your existing coverage. If you work from home, you can’t rely on your homeowners insurance to cover your business’s equipment and damages. For such protection, you’ll need a home-based business policy, which would cover losses that don’t fall under your regular homeowners insurance, such as damage to your business property or theft.

If you run a small business with employees, you may want to look for a comprehensive policy that combines property and liability coverage. This type of policy protects the business structure itself and any business-related equipment against theft or damage.

Liability Insurance

Liability insurance is there to protect you personally against negligence claims. Depending on your business’s industry and risks, there will be different liability policies to protect you. Product liability insurance is designed for those businesses that sell products, protecting the company from claims resulting from injuries and damages caused by the product. Other claims can be covered by a general policy, which provides umbrella protection against negligence and personal injury claims.

For more information, check out how to insure your home-based business.

Depending on the business that you run, it may be best to opt for additional coverage. Serving Mifflintown, Millersburg, Lewistown, and surrounding cities in Pennsylvania, visit the professionals at Sausman to learn how you can acquire reliable protection for your home-based business.