Does Georgia Require Commercial Insurance for a Home Business?

At the Insurance Mart, we know that Blue Ridge, GA folks are creative and capable. Many of you have put your skills to work making money from home, and it might be expanding into a full-fledged business. Having the proper insurance coverage for your business can help your new endeavor thrive.

The Basics of Commercial Insurance

Every business has different needs, so commercial insurance is built to be adaptable. Like personal insurance, the commercial version has you commit to a policy that covers specified perils minus your deductible, in exchange for a recurring premium charge. Most providers have packages with a range of coverage that the typical business needs, but they may or may not have packages made with home businesses in mind.

Required Coverages

If your business employs three or more people, then you are required by state law to carry worker’s compensation coverage. Any vehicle that you operate in the course of business will need commercial auto insurance. There are no legal obligations beyond those, but other businesses may require them. Typically, this applies to brick-and-mortar businesses that rent a space.

What Risks Does a Home Business Face?

The primary difference between a home business and any other business is where they operate. Since you’re using your home, your business has no real estate that it needs to protect. You still face that risk, but it’s going to be covered by your homeowners’ or renters’ insurance.

Otherwise, home businesses may be financially liable if they make an error that causes damage or a data breach exposes sensitive files. The Insurance Mart in Blue Ridge, GA can help you identify where your business might encounter risk and shop for a policy that covers those risks.