Are You Running A Business From Home?

home business

Home-based businesses can offer the best of two worlds; working from home and earning a living.  In fact, over 50% of small businesses are run from homes.  But there are risks in operating your business from your home. Most home-based businesses do not have the same risks as other businesses including buildings, employees, production machinery, or fleets of vehicles.  But, home-based businesses do have many risks that need to be considered.

Hidden Risks For Home-Based Businesses

  • Homeowner’s or renter’s insurance does not cover any home-based business risk; you need a separate business policy. Your homeowner’s insurer may offer an endorsement to your homeowner’s policy that adds additional property coverage and some limited liability coverage.
  • Your personal auto policy may not provide coverage if you use your vehicle for deliveries or ride-sharing.
  • Your home-based business will need business or commercial insurance, and may even need professional liability.
  • If your business has other remote employees, you might consider employment liability insurance.
  • If you keep any kind of client information on your computer, you will need cyber liability insurance.
  • If you have clients come to your home, you have a trip and fall exposure that business insurance can cover.

Simple Solution

Business owner insurance for home based businesses, also known as a business owner’s policy or BOP insurance, combines general liability coverage with protection for your business equipment such as computers, printers, copiers, and office furniture.