Tucson Business Liability Insurance

Tucson business liability insurance will provide your company much needed protection from third-party claims brought against you. These days, a claim brought against your Tucson business could easily mean financial ruin. Don't put yourself in that position by avoiding Tucson business liability insurance. Instead, purchase that a liability policy so that you can sleep well at night.

If you're operating a business out of your home, you may think you don't need Tucson business liability insurance. You're wrong. Your homeowners policy probably won't cover you if something occurs in your house and you're operating a company there. Your policy may actually be null if you have a home company unbeknownst to your home insurer.

Don't worry, you can deduct your Tucson business liability insurance from your income. It will be expensive, but it will also be a large deduction, and that helps. You can even deduct your commercial auto policy, if you need one of those as well. Note that, like the homeowners policy, your personal auto policy will not be valid if you are using your car for company purposes.

Arizona Home Business Insurance

You should treat your Tucson home business as if it were a company in a normal office. True, it's not exactly the same, since you don't pay extra rent and you get to work in your pajamas if you want. However, you need Tucson business liability insurance for your home office, just as you would for a company outside the home. After all, in the eyes of the law, a company is a company even if the headquarters are in your home.

If you have a client at your Tucson house, and he or she trips on your stairs, you could have a lawsuit brought against you. Again, your homeowners policy won't cover you if this happens. Your homeowner's liability policy will most likely cover you if a friend is injured in your Arizona home, but if it's a client you're in trouble. So, you need to have valid Tucson business liability insurance to protect you against potential third-party claims related to your work.

You should also insure the business equipment that you keep in your Tucson home. This is separate from your AZ liability coverage: you need some kind of policy that protects you in the case a natural disaster. Again, your Tucson homeowners policy may not cover you if they find out your computer was being used for work purposes. If this is confusing to you, the best thing to do is speak to an insurance agent about what kind of coverage you need for your home company.

Commercial Auto Liability Insurance

If you will be using a car to make calls on your Tucson, Arizona clients, you may need to consider commercial auto policy. Obviously, you don't want to have to argue with your insurer about whether you're using your car for personal or work purposes. You should have a policy that covers you if your car is not being used for personal use.

If you have employees that drive (either a company car or their own) for work-related purposes, you need to purchase an Arizona business liability policy that covers them as well. A car crash can be very damaging for a company, and Tucson business liability insurance won't cover you. Unless you have a clause in your liability insurance plan that includes vehicles, you probably need an additional policy. If you aren't sure, you should talk to a liability insurance agent about whether you need an auto policy.

Deduct Your Insurance

You can deduct both your Tucson business liability insurance and your commercial auto policy from the total income of your AZ company. You may want to have a tax professional help you, since this can be a somewhat complicated task. Because you're operating a small company, you're more likely to be audited and checked for tax avoidance schemes. This is especially true if you make a fair amount of money, which hopefully you will!

Note that if you have property and casualty coverage for your company, which you should, it's deductible from your income as well. Again, you need a policy that protects your property in the case of a natural disaster. Business interruption coverage, which covers you if you stop working (in the case of a natural disaster, for example) is also deductible.

Malpractice, or errors and omissions, which you need if you're offering advice, constructing buildings, or anything of that sort, is also deductible from your income. All of these policies benefit your company, so they are deductible from your income. Note that if a policy benefits you, personally, and only you, it may not be deductible. If you're confused, you can ask your Tucson business liability insurance agent how to deduct different premiums from your income.

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