commercial insurance

When Does a Sole Business Owner Need to Consider Commercial Insurance?

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Running your own business is both exhilarating and challenging—it also comes with its own set of risks. If you’re a sole business owner, you might believe that commercial insurance is only for larger companies. At Acme Insurance Brokerage in Amityville, NY, we often hear, "Do I really need insurance if it’s just me?" The short answer? Quite possibly—yes.

You’re Liable, Even If It’s Just You

Many sole proprietors assume that personal insurance will cover any business-related incidents. Unfortunately, that’s not the case. If a client trips and falls at your home office or if you accidentally damage a customer’s property while working, you could be held personally liable. Commercial general liability insurance helps protect you in these situations, covering legal fees, medical expenses, and other potential costs.

Clients and Contracts May Require It

As your business grows, you may take on larger clients or more complex projects. Some clients require proof of insurance before signing a contract. Without it, you could miss out on valuable opportunities. Having the right coverage also builds trust and shows you take your business seriously.

Your Equipment and Income Need Protection

If you rely on tools, equipment, or even just your laptop, a sudden loss could bring your work to a halt. Commercial property insurance or a business owner’s policy can help replace lost or damaged items. And if you have to pause operations due to a covered event, business interruption coverage can help replace lost income.

Ready to Protect Your Business?

Even if you’re a one-person operation, commercial insurance offers essential peace of mind. Acme Insurance Brokerage in Amityville, NY, is here to help you find the right coverage for your unique situation. Contact us today for expert guidance and a custom quote.

Why you need commercial insurance for your home business

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Understanding Insurance for Your Home Business

Having a home business has become increasingly popular because it allows flexibility and freedom from all the hazards that a small business faces. No worrying about rent or damage to your property when your business is located in your home. However, you must remember that home insurance was not designed to protect a home business, and you may find yourself underinsured if you rely on just home insurance. At Acme Insurance Brokerage in Amityville, NY, we make it our business to know your business and the coverage you require.

Property Insurance

Home insurance has property and content coverage. With commercial insurance, those two things are combined and covered under property. Your home insurance does have content coverage for personal property, so while it might cover some of your business property as part of personal property, a great deal of the things that you need to do business will not be covered and would be a complete loss. The cost of getting adequate coverage for your business needs will repay itself through peace of mind.

Liability Coverage

One of the easiest ways for your business to be ruined is through getting sued. Your home insurance does provide liability coverage and, hopefully, a great deal of it. Still, when people are visiting you to do business, they are not covered under your home insurance plan. If a customer is hurt or a vendor or even an employee, you could be left holding the bag for the amount of the lawsuit and the legal expenses.

Owning any business comes with many risks, and the number of businesses that fail is huge. Don’t be one of them, protect yourself with commercial insurance.

Contact us at Acme Insurance Brokerage in Amityville, NY to discuss all your insurance needs.