Protecting Home-Based Businesses
Posted on Thu, Apr 07, 2011
If you own an in-home business, is your business adequately protected? Most people assume that homeowners insurance will cover their home-based business but, in fact, it will not. Homeowners policies typically exclude most business activities and some will only cover up to $2,500 for business equipment. That leaves you vulnerable to liability risks and unprotected in the event of loss of income. Check out this video from the Insurance Information Institute for tips on insuring your home-based business.
To protect your small business, you can start with purchasing an endorsement to your homeowners policy however, this will still leave you open to liability. The next step would be to purchase a small business insurance package that would provide coverage at home and on the road for liability, theft and loss of income. Check with your insurance agent for small business coverage tailored to your needs.