Do You Have Your Home Business Covered?

Are you a home business owner? There is a growing trend with small enterprises today. Many small business owners choose to run their business out of their homes. There are a lot advantages to using a home office as a base. It can be a very convenient and affordable solution. All sort of business owners, from sales people to business consultants to lawyers, are deciding to skip the commute and extra office rent in favor of working from home.

For example, if you spend part of your year selling pottery at crafts fairs, it may make sense to actually set up your office and studio in your garage. If you do book keeping at client offices a few days a week, it makes sense for you to have a home office for offsite work. If you can function in a home office, or spend most of your time off site, why not relax in the comfort of a home office?

Have you protected yourself against business risks? The practice of working from home has become acceptable for all sorts of different types of businesses. In my opinion, the biggest risk is that business owners may skip some of the important details they would not skip if they worked in an outside office building. You may not think this is an important problem, but you may be taking a very big risk.

Is your business property covered? Do you rely on your old home owners insurance policy to also cover your business property. A typical home insurance policy does have some home contents protection. However, if you need a lot of equipment or supplies, it may not be enough protection.

If you lost or damaged your business computers, equipment, or inventory, would that really damage your ability to do business? If you think it would put you in a tough situation, you had better make sure you have proper coverage!

Are you protected against budiness liability? You also cannot count on your personal home policy to cover business liability. A home policy is meant to protect you in case a visitor to your house claims that they were injured or had a property loss in your home. But that was not meant to cover business liability. If you neglect to takes steps to protect your business, you could be risking a lot.

Is your car covered when you do business with it? Lots of home, and other small, business owners use their own personal vehicles for business too. This is sensible a lot of times. But it is not sensible to rely upon a personal car insurance policy to cover all business use. If you transport inventory, supplies, or equipment in your car or truck, you may be taking a big risk if you are counting upon your personal auto insurance policy to cover the risk of loss, theft or damage!

There are some simple home business insurance solutions, and you have some simple ways to explore business insurance. You may be able to add additional coverage (riders) to personal insurance in order to protect your business. This is probably the easiest solution if you can do this. A BOP (Business Owners Policy) may provide a simple solution. This provides a package of insurance coverage that satisfies the needs of many small businesses. Otherwise, you may want to find an experienced business insurance agent who can help you find affordable protection so you do not risk your business!


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Are you a home business owner? Make sure you have great home business insurance so you do not risk your business! Find business insurance quotes and more information.