Memphis, TN, entrepreneurs who operate businesses from their homes should understand commercial insurance and how it might apply to their businesses. At Tackett Insurance Inc., our knowledgeable agents can provide expert advice on whether your home-based business should be covered by commercial insurance.

Liability Insurance

Liability insurance is a cornerstone of risk management for any business, including those based in a home. It protects against claims arising from your business activities, such as injuries or damages caused to third parties. 

Even though a home business may be small, it takes just one lawsuit to devastate a business financially. That’s why liability coverage is important for virtually every business, regardless of location.

Property Insurance

While homeowners’ insurance covers personal property, it often doesn’t extend to business equipment or inventory. Therefore, home-based business owners in Memphis, TN might need additional property insurance to protect their business assets. This can include computer coverage, specialized equipment, and inventory stored at home. Coverage is also needed when equipment or inventory is taken elsewhere, such as to a worksite or customer location.

Whether you should have commercial property insurance depends on what assets your business has. One of our agents at Tackett Insurance Inc. can help you evaluate whether this coverage should be included in your commercial insurance policy.

Balancing Coverage with Business Needs

The extent of commercial insurance needed by a home-based business can vary. Contact us today, and we’ll ensure you find liability and property coverage (if required) that works for your business.