Cumberland, MD, is a favorable location for starting a home-based business. Tax credits, a Lenders Loan Pool, and Micro-enterprise Programs are available to help entrepreneurs save money while launching their venture. However, one inevitable expense is commercial insurance. Even home-based businesses will need several insurance policies to operate legally in the state.
Commercial Insurance Requirements in Maryland
If you have even one full or part-time employee, you’re required to have worker’s compensation insurance. If you use a vehicle for commercial purposes, which includes traveling to meet clients and business partners, transporting goods to and from markets, or allowing an employee to use your vehicle, you need a commercial vehicle policy. You’ll need liability insurance if you sell items on platforms such as Amazon and eBay.
Even though some policies aren’t legally required, they are worth considering. Cyber insurance safeguards your business if a hacker breaks into your system and steals data. Errors and omissions insurance protects your business assets if a client sues you. Liability insurance shields you from common risks such as customer injuries, destruction of customer property, and advertising injuries.
Commercial Insurance from Knippenberg Insurance Inc.
Knippenberg Insurance Inc., based in Cumberland, MD, offers premium insurance policy options to local business owners. We have a variety of policy options to meet the needs of entrepreneurs in any industry. Our knowledgeable staff members are eager to help you understand state insurance laws to ensure you choose the best policies for your business. Contact us to learn more about our offerings or to get one or more policy quotes.
