Sep 21
Home Business Insurance
Home businesses are an area, like personal jewelry, that is brushed over in a standard homeowner’s policy. A typical homeowner’s policy provides only $2,500 coverage for business equipment, which is usually not enough to cover all of your business property, let alone liability exposure and lost business income. Insurance companies differ considerably in the types of business operations they will cover although home businesses are rapidly becoming a mainstream coverage category for insurance companies with any depth.
Regardless of the type of policy you choose, if you’re a professional working out of your home, you probably need professional liability insurance. Some types of in-home businesses, such as those that make or sell food products or sell home-made personal care products, may have to buy special policies.
You may be able to add a simple endorsement to your existing homeowner’s policy to double your standard coverage for business equipment such as computers. For as little as $25 you can raise the policy limits from $2,500 to $5,000. Some insurance companies will allow you to increase your coverage up to $10,000.
More after the jump…
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