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Choosing Insurance Policies For Your Home -Based Business

In Florida, small business owners establish their company to generate profits and become successful in their respective industry. When starting a business, the owner must review policies that offer comprehensive coverage and mitigates risks. A local insurance carrier provides commercial insurance Lakeland for small business owners now.

Covering the Property

Small business owners who operate their business from their home require two separate policies to cover the property. The portion of the property used for the business may require limited commercial property insurance coverage. However, select homeowner's insurance policies will cover the portion used for business, but coverage for business equipment isn't provided.

Small Business Coverage for Equipment

The small business insurance Lakeland covers all equipment used to provide business services or create products. Common equipment covered under the policy includes printers, computers, tablets, and smartphone. Some policies may provide some coverage for inventory that is stored on-site.


Commercial and Personal Auto Coverage

When choosing auto coverage, the company owner will need to purchase Commercial insurance Lakeland and personal auto policies. The commercial policy will cover accidents and liabilities if the business owner was using the automobile for business purposes only. If the automobile is used for any personal needs, the standard auto policy is required to offer more comprehensive coverage. The business owner must purchase personal injury protection and property damage coverage as outlined in the state's auto insurance mandate.

Coverage for Common Liabilities

The business owner must purchase liability coverage to protect them against common issues that could arise. The most common liabilities are a breach of contract, premises liabilities, and product liabilities. Property damage that occurs due to an issue with workers completing services also presents a potential liability. The business owner must review all probabilities that could lead to a lawsuit against their company when purchasing liability coverage.

Products-Completed Operations Coverage

Products-completed operations coverage offers additional coverage for small business owners who create and distribute your own products. Since the products are the small business owner's are their primary source for profits, it is recommended that the owner purchase the policy to protect their company more fully.

In Florida, small business owners purchase a wide array of policies to protect their investments fully. The coverage starts with insurance for the property where the business operates. Next, the owner needs coverage for all equipment used to perform services or to create products. Small business owners who want to assess the best commercial insurance Lakeland can submit a free quote today.

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