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4820 University Dr., Ste. 7
Huntsville, AL 35816

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Why your home-based business needs commercial insurance

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These days, having a home-based business makes good sense. It is cost-efficient not having to pay for a building to house your business. You may think that you don’t need commercial insurance for a home-based business, but that would be an incorrect decision. In Huntsville, AL,  our team of experts at the Larry Burkman Agency provides the commercial endurance advice you require. 

Why Commercial Insurance

Commercial property insurance

Commercial property insurance is different from home property insurance. It is a combination of property and content insurance. Your home insurance will not give your business the protection it needs. While it might cover a few things, it will not protect your business’s inventory. You need to have property coverage that is specific to the nature of your business. 

Commercial liability insurance

Your home policy does provide liability coverage, but if you are conducting business from your home and have customers or clients visiting, you will not be covered if they have a slip and fall and decide to sue. You need to have commercial liability coverage to protect yourself. 

Commercial auto insurance

If your business owns a vehicle, it needs to be covered by commercial auto insurance. Even if you own a vehicle, if you use it for business purposes and have an accident, your personal auto policy likely won’t cover you. 

Business interruption insurance

Your personal home insurance has nothing that is comparable to business interruption insurance. This insurance provides your business with the working cash it needs if there has been a covered peril. It helps you to be able to pay your bills, pay any employees you may have, and allow your business to survive being shut down.  

Reach Out To Us

Contact the Larry Burkman Agency, serving the greater Huntsville, AL community, when you are in need of an independent insurance agent to help with your commercial insurance needs. 

How to create and store a home inventory

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Home is at the center of most people’s lives. It is where you go to be with family, where you feel safe, where you can relax, and more. Home insurance allows you to have peace of mind that the place you love is protected against the many things that could happen to damage your home. At Larry Burkman Agency in Huntsville, AL, we help our customers ensure they have the right coverage. 

How to create and store a home inventory

If you ever have to file a claim, and chances are you will file a claim at some point, being able to tell the insurance company what you lost can help to move the process along more quickly. A home inventory is a listing of all the things that you own in detail, and the insurance company accepts it as documentation of your possessions. 

You can do a video inventory, but you still need to supply backup documentation. Using a pad and pen is still a good option. Start in the room of your choice and write down exactly what is in that room. Open drawers, look in closets and don’t forget what is hanging on the wall. Give as much detail as possible, including brand name, model, and serial number. Take pictures to go along with the written inventory and attach any sales slips or receipts that you have. 

Do the same thing for every room in your home. You might be surprised by how much is actually in your linen closet. Don’t forget the attic and the basement.

When you are finished, it is important to place this important document in a safe place. A safe deposit box is a good idea or make a copy and place it in the cloud so that when you need it, it’s available. 

Give Us A Call

Contact Larry Burkman Agency, serving the greater Huntsville, AL region, to discuss your home insurance needs. 

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