Small business owners understand the importance of separating their personal and business finances. However, some overlook the need to do the same with their insurance. Neglecting to acquire separate commercial insurance to protect your business and its assets can be a costly mistake. If you reside in or near Senatobia, MS, and wish to discuss insurance for your home and business, consider reaching out to our team at Storey Insurance.

Understanding Insurance for Home-Based Businesses

If you operate a home-based business, you likely have business-owned assets such as a computer and other office electronics. You may also have business-owned furniture, inventory, or supplies stored at home. As your business grows, the value of these assets can easily exceed the $2,500 in business assets covered by many home insurance policies. Moreover, many businesses require professional, liability, or other commercial insurance protections beyond those for their business assets.

If this applies to you, consider acquiring commercial insurance for your home-based business. Small home-based businesses may obtain sufficient coverage by adding a business rider to their home policy, doubling their business asset coverage to $5,000.

If your insurance needs are greater, in-home business insurance policies provide property, liability, and other insurance elements for businesses with revenues less than $250,000.

Businesses with revenues over $250,000 often opt for a Business Owner’s Policy (BOP) that bundles multiple types of insurance. These policies are easy to acquire and cover a range of issues. Plus, you can add Workers’ Compensation coverage to your BOP if you have employees.

Experience the Storey Insurance Difference

The Storey Insurance team serves homeowners and businesses in Senatobia, MS. Call us today at (662) 560-7021 to schedule an appointment to develop an insurance plan that meets all your needs.