Do You Have a Home Based Business? Insure It!
Far too many individuals conducting business operations from the comfort of their home fail to realize the importance of getting the necessary insurance protection. Despite popular belief, you cannot just assume coverage under your homeowners’ insurance policy or purchase any general business insurance policy. There are a variety of options for you when it comes to insuring your home-based business. Below are a list of must-know questiong and information you need to consider::
Do I Need Coverage for My Home Based Business?
- Check with your homeowners’ insurance policy, does it restrict or refuse coverage for your business equipment? If so, you definitely need extra coverage.
- Do you work from your home office more regularly than your actual office? If so, you may need protection for common incidents that can occur.
- Do you visit the homes of your clients? Do your clients visit your home office?
- Do you keep any of your important business information at your home?
What Type of Insurance Would Best Protect My Home Based Business?
- If your home-based business is not too extensive, you may be able to simply add a rider or endorsement to your homeowners’ insurance policy. This is the least expensive option.
- Another option for insuring your home-based business is purchasing a business owner’s policy. This type of coverage acts as the most comprehensive form of insurance for home-based businesses. It provides you with liability coverage, business interruption coverage, and property damage.
- You also have the option of purchasing an exclusive home-based business insurance policy. This policy will be customized to meet your exclusive needs.