Is Your Home Business Covered?
Find out if your home business has the right insurance coverage.
If you run a business out of your home, then you probably already have a home insurance policy in place. However, your standard home insurance policy might not be enough to cover all the different aspects of your business. If you are not sure about your home-based business’s coverage needs, then read on. Use this information to determine whether your home business has the right insurance coverage.
What does my home insurance cover?
Generally speaking, home insurance provides coverage for your home, your belongings (furniture, clothing, electronics, etc.), and your personal liability. For instance, if your home was damaged during a storm, then your home insurance would cover damage to your home and your belongings. Additionally, if you accidentally caused damage to a neighbor’s property, then your home insurance would cover your legal fees if they decided to sue.
Is home insurance enough?
If you are running a business out of your home, then your standard home insurance policy isn’t going to cut it. For example, if you have business equipment of supplies in your home, then they will not be protected by your home insurance. Additionally, business documents won’t be covered under your home insurance either. Finally, if you have employees of customers coming to your home, then your home policy won’t provide coverage if they are injured on your property.
How can I get the coverage my business needs?
If your home-based business needs additional coverage, then there are several ways to get it. For starters, you might be able to add an endorsement to your home policy. Additionally, you could also get an additional liability policy to cover your business’s liability risks. Other coverage options for your home business include getting an in-home business policy, errors and omissions (E&O) insurance, or a business owners policy (BOP).
Use this information to help you decide if your home business has the right insurance coverage to address its needs. To find the right insurance for your business, contact the professionals at Higgins Insurance Agency. Our dedicated team is always ready to assist you with all your insurance needs.