Why commercial insurance is right for your home business

Home businesses have become increasingly popular. Not having to buy or rent a business location is a big cost saving. Whether it is a converted garage, basement, or just an office, operating from home is an advantage many opt for. At Spring Grove Insurance in Spring Grove, IL, we are here to talk to home business owners about the risks of operating out of your home and how to mitigate that risk. You may not be as covered by the insurance you already have as you think, 

Home insurance

Your personal home insurance is designed to protect your home from many perils. It is not designed to cover a home business. Home insurance covers content, but you may find out the hard way that inventory, business machinery, and even office furniture are not covered or have limited coverage. Many home policies have caps on the amount they will pay for damage to a home office. Data loss and loss of income are not covered in any way by home insurance. 

Where home insurance is grossly inadequate is in liability coverage. If you have customers or clients visiting your office or business in your home, and they are injured, or if they decide to sue you due to a product or service you provide, you could find yourself without any coverage or enough coverage. 

Car insurances

If you are driving your personal car for business, you may find you are not covered. Many insurance policies don’t cover the business use of a personal vehicle. 

Business interruption insurance

If something happens to your business, you need business interruption insurance to keep some money coming in, so you can meet your normal expenses. This is just one of the many valuable commercial insurance coverages your home business needs. 

Contact Spring Grove Insurance in Spring Grove, IL for all your commercial insurance needs.

3 Ways to Improve the Security of Your Small Business

Beefing up the security of your small business can help discourage theft, vandalism, and data breaches. If you own a business in Spring Grove, IL, you will do well to invest in the safety and security of your company to reduce your risks of financial loss. These tips from Spring Grove Insurance can help improve your business security.

Invest in a Security System

Invest in a security system for your business to keep it safe from theft and vandalism. Your system should include an alarm, sensor monitoring, smart lighting, interactive video, and other features that will improve the security of your enterprise. You can also upgrade to commercial grade locks on windows, entrance and exit doors and internal doors where costly equipment or sensitive data is stored.

Limit Access to Sensitive Areas

Limit access to areas with costly equipment to minimize the risk of theft. This can be done by distributing keys sparingly or establishing a system wherein employees are required to swipe personal key cards to gain entrance to specific departments such as the finance department. In like manner, limit access to sensitive data to employees on a need to know basis to safeguard your sensitive information.

Purchase Commercial Insurance

Purchase commercial insurance for your Spring Grove, IL business to protect it from perils that can lead to financial ruin. Property coverage will protect your business location, equipment, and inventory from theft, vandalism, and disaster damage. General, product, and professional liability coverage protects your business against liability claims and prospective lawsuits due to work-related accidents, faulty products, or negligence in the services you provide. Workman’s comp coverage protects your workers against accidents on the job. Protecting your employees will help you retain your valuable workforce longer.

Learn more about commercial insurance coverage and costs by contacting Spring Grove Insurance.