Canandaigua, New York
470 S Pearl St
Canandaigua, NY 14424
(585) 394-5544

The Top 3 Reasons to Buy Business Insurance for a Home Business November 10, 2017

Canandaigua, Ontario
The Top 3 Reasons to Buy Business Insurance for a Home Business, Canandaigua, New York

In the past decade, the rate of people becoming self-employed or starting home-based businesses has skyrocketed. Unfortunately, many people who work from home mistakenly believe that they do not need business insurance, thinking their renters or homeowners insurance policy will meet their needs should an emergency arise; however, this is not always the case. CIG Insurance Agency and their team of expert insurance agents in Canandaigua, NY, explain below why you should consider a business owners policy (BOP) for your home-based business.

3 Important Reasons You Need a BOP for Your Home Business

1. Damage to Business Equipment or Data

Your homeowners insurance policy covers personal property, not commercial property. While you might be able to pass off a damaged or stolen business laptop as personal property, your homeowners policy probably will not cover a sophisticated communications setup, copiers, fax machines, data servers, and other equipment that is clearly for business purposes. To get the protection you need, a business insurance policy is your best bet.

2. Professional Liability

Insurance in Canandaigua, NYIf you make your living by providing professional services or advice—like legal, medical, accounting, or consulting services—you need professional liability coverage. This protects you financially should you commit an error or omission in a professional capacity that costs your client money. It covers damages and pays the legal costs of defending a lawsuit in court. Your homeowners insurance policy won't even touch this kind of claim.

3. Business Interruption

Business interruption coverage replaces a portion of lost business income if a disaster should strike and cause a shutdown of your home-based business. Its purpose is to keep your business in the same financial position as if the fire, storm, or another type of disaster had not happened.

CIG Insurance Agency, the most trusted and experienced insurance brokerage in Canandaigua, NY, offers a comprehensive list of exceptional products for both personal and business purposes. They can help you design an affordable BOP that protects both you and your home business financially. Visit their website to request a quote, or call (585) 394-5544 to speak with a friendly, knowledgeable insurance agent.

Other Announcements, Events and Deals from CIG Insurance Agency
A Guide to Protecting Your Christmas Gifts With Insurance, Canandaigua, New York
If Santa left you an expensive gift this Christmas, it's important to make sure it is fully covered by your insurance policy. It may be difficult to know if the valuables you more
The Effects of Your Driving Record on Auto Insurance Rates, Canandaigua, New York
One of the key determinants of how much you pay for auto insurance is your driving history. A clean record often qualifies you for a discount, while speeding tickets, a DUI, or more
4 Common Insurance Terms Everyone Should Know, Canandaigua, New York
Because it protects everything you value most, including your home, car, and financial future, insurance is one of the most vital investments you can make. As important as having more
The 4 Most Common Types of Insurance Protection, Canandaigua, New York
When it comes to protecting yourself, your loved ones, and your property, having reliable insurance can provide financial peace of mind. Knowing which policies to secure generally more