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Home-Based Business 

Insurance

Home-Based Business Insurance

Entrepreneurs often run their businesses from home. As they do work remote, they often rely on their homeowners insurance coverage to protect their home based businesses. While homeowner’s insurance protects your home, it may not insure parts of your business. As a result you may need additional business insurance.

Your homeowners insurance may not include protection for your business’s property including:

  • Technology

  • Files

  • Professional equipment

Self-employed professionals should consider home based business insurance to protect their business assets.

You should also be careful if you’re using your home for activities that your home insurer isn’t aware of. This may nullify your homeowner’s personal liability coverage. One example of this could be operating a home based business. This puts both your home and business at risk.

Business insurance is essential for many reasons. It can help cover the costs of legal claims made against a business. Without it, a company must pay the costs of a claim or lawsuit out-of-pocket.

Do I Need Home Business Insurance?

For all the home based business owners out there, you need to ask yourselves a few essential questions including:

  • Do customers or clients come to my home?

  • Do I keep inventory or supplies in my home or at off-site job locations?

  • Would I lose income if I had to close my business because of damage to my home?

  • Do I have employees working in or outside of my home?

  • Do I maintain client or employee records on my computer?

If you answered “yes” to any of these questions, you may want to review your type of coverage and coverage limits. In this case, home liability insurance might not provide enough protection for your home based business.

Without the right coverage, your business could be responsible to pay out of pocket for:

  • Property damage

  • Lawsuits

  • Employee injuries

  • Issues related to data loss

Flexible Coverage for Home Based Businesses – Small and Large

Home based businesses can range from small consulting practices to larger retail operations. That’s why The Copeland Group offers a range of coverage options. These options can help serve the needs of any home based business in a cost-effective way.