By Jim Graham | May 1, 2019

Is Business Insurance Required By Law? Jeannette PA

Jim Graham: Good morning, this is Jim Graham from Graham Insurance Group answering another one of your frequently asked questions. Do I need business insurance? A lot of little home based businesses out there, people selling things out of their home, doing home parties and things like that do not carry business insurance. You absolutely should. If this is a activity in which you are receiving revenue, you are selling a product and receiving revenue for it, or performing a service and receiving revenue for it, that is not covered under your homeowners insurance. You absolutely need to have business insurance for that, sometimes it can be something as simple as just adding an endorsement to your homeowners policy to cover slips and falls. Sometimes, you need a full insurance policy that covers businesses to pick up things like product liability, with whatever it is that you sell somebody. If they become sick or injured out of using it, you will have coverage. Without a business insurance policy, these things will not be covered under your homeowners, so if you are receiving revenue for goods or services that you are performing, then you should have a business insurance policy. Thank you.