Do I need insurance for my home-based business?

Since the pandemic we are seeing an increase in homeowners starting their own business out of their homes.   YES - in most cases some form of business insurance is needed. Most homeowners will find that their homeowners or renters policies have a business exclusion. 

Coverage available for home-based businesses include:

Business personal property – covers your office equipment, furniture, business computer, items held for sale, etc.

Liability Insurance - Protects you if someone visits your home for business purpose and becomes injured, for example - trip and fall by a person coming to your home to pick up a product sold to them.

Products – Are you making items to sell? Products liability can cover you for damage your product causes to a person or property.

Cyber – Protects your business from the cost of a data breach, malicious software and other cyber threats.

Business auto – Covers a vehicle used in the course of the business for deliveries, sales calls and more.

Workers Compensation – Required by law if your business has employees.

There are many other business insurance coverages available. Contact our office to discuss your home-based business and what insurance coverage is right for your new venture.

By Lana