"don't
assume that a homeowners policy covers your home business"
Operating
a Home Business?...Your Homeowners Insurance
May Not Cover It!
Learning how to operate your own business
from your home can be challenging.
Making the right moves - or the wrong ones -
means taking great risks. As your
business grows, so will those risks.
Although savvy and creative in their own
specialties, the 12 million home entrepreneurs
in the United States can become bewildered
about how to insured their business against
theft, fire and liability.
According to the Insurance Information
Network of California (IINC), some believe
their homeowners policies cover all their home
business insurance needs. As a result, a
lot of these home business owners are
uninsured
.
Business
owners need both property insurance in case
they're robbed or a fire destroys equipment
and inventory, and liability insurance in case
someone gets hurt using their product or
services or falls down the stairs when coming
to see them.
IINC says the
first tip for business owners is "don't
assume that a homeowners policy covers your
home business."
You may be
able to add an endorsement to your existing
homeowners policy. Some companies will
offer property and liability insurance for
"incidental" businesses operated
from your home.
A second
option is to buy several individual business
insurance policies to provide the various
coverages you need, such as business property,
general liability and business income
insurance.
Or you can
buy a business owners package policy designed
for smaller businesses, which combines the
necessary property and liability insurance
coverages you need in a single policy.
Call us for
complete details and an analysis of your
options.
