How your home business will benefit from commercial insurance coverage

Running a business from home has become increasingly popular. If you have the space in your home, you can save a lot of money on renting a business space. However, if you only have home insurance, you risk your business and yourself. At Maple Mountain Insurance Services in Mapleton, UT, we are an independent insurance agency that works with our customers to ensure they are protected.

Property Coverage

You may be under the impression that your home property insurance will cover your home business. Commercial property insurance covers both the physical building and all the things you use to do business. That would mean your personal property insurance as well. Many home insurance policies have limited coverage of home businesses, and if you have your tools, business equipment, display units, and inventory in your home, getting just a couple of thousand in coverage might leave you woefully underinsured.

Liability Coverage

If customers or clients visit you at your home, your home insurance will not protect you if they are injured. You need to have commercial liability coverage to safeguard your business.

Workers Compensation

Every employer in Utah is required to have workers’ compensation insurance. There are a few exceptions, but you can be pretty sure your business will need to cover your employees.

Business Interruption Insurance

When something happens to make it impossible to do business, as long as it is a covered hazard, this coverage will provide the money you need to pay your bills and employees, while your income flow is cut.

Contact our team of experienced agents at Maple Mountain Insurance Services in Mapleton, UT with all your commercial and home insurance needs.

Does homeowners insurance cover floods?

When it comes to natural disasters, floods can cause extensive damage to homes and personal property. While homeowners insurance may provide some coverage for floods here in the Mapleton, UT area, it is essential to understand what type of flood protection your policy offers. At Maple Mountain Insurance Services, we are here to help.

Most homeowners insurance policies do not cover damage caused by flooding or rising water resulting from a storm or severe weather event. If your home and belongings are damaged due to a flood, you may be held responsible for the cost of repairs or replacements. 

However, there are several ways you can protect yourself from this risk. The most common is through the purchase of flood insurance. While most policies will not cover the flooding caused by heavy rains or storm surges, they will provide financial assistance in the event of flooding caused by melting snow or overflowing rivers. Additionally, many lenders now require borrowers to purchase separate flood insurance if they live in an area considered prone to flooding. 

It’s important to review your homeowner’s insurance policy carefully and become familiar with its limitations when it comes to flood coverage. Taking this precautionary step can help save you money and stress if your home becomes flooded due to bad weather conditions in the future.

For more information, or if you want to explore a flood policy in addition to your homeowner’s policy, give us at Maple Mountain Insurance Services a call today. We are proud to serve the Mapleton, UT area and would be glad to help you find a policy that meets your needs and budget.

Spring Home Improvement Projects Should Be Covered by Homeowners’ Insurance

Are you considering having some repairs done on your house this Spring? Many home improvement tasks are conducted in the Springtime, and for good reason. If you’re getting ready to take on these large projects, be sure that you look into if it will be covered by your homeowners’ insurance in Mapleton, UT.

What You Need in Your Insurance Policy for Home Improvement

Whether you’re planning on remodeling your entire kitchen or putting on a new roof, you should know beforehand if damages occurring during such work are included in your insurance policy. You do not want to be stuck paying for it entirely out-of-pocket if an unfortunate issue should arise. 

The following are some key points you should keep in mind for your home improvement:

Discuss additional coverage with your agent

This is a crucial step when first getting homeowners’ insurance, but you can go back and make changes to your existing policy. 

Determine if your contractor is insured 

It also is a good idea that any contractor who undertakes your home projects be insured. If the contractor or any of their employees is injured while working on your home, this will pay for their medical bills and more having to do with the injuries. Ask to see his or her certificate of insurance before any work gets underway. 

Talk to your agent about getting insurance to replacement cost value

Many people neglect to include this in their home insurance policy. This will help you cover your losses if any major damages occur. Though it may seem mind-boggling to you, your insurance agent will be able to figure out the amount you need covered in such a policy. 

Reach out and contact us at Maple Mountain Insurance Services today. We offer services for setting up homeowners’ insurance and are willing to go above and beyond to assist all homeowners. We serve the greater Mapleton, UT area and can help determine insurance needs for any circumstances.