Operating a small business out of your home is convenient, but it can also be risky. Many small business owners who operate out of their own homes aren’t as protected as they need to be. Here’s what you need to know about home-based business insurance.
1. Homeowner’s Policy
Many people think that their homeowner’s policy offers enough protection. The truth is that there is close to no protection for your home-based business afforded by this policy.
2. Off Premises
You are liable for the services and products you offer, even after a client leaves your home. If a product fails or someone is injured in some way, you could very well end up in court. Home-based business insurance can keep you protected.
3. All-Encompassing Coverage
Stop thinking of yourself as a pop-up shop or anything similar. You are a business. You have access to the same types of coverage as people who own corporations. Make sure you are covered fully.
4. Odd Coverages
What happens if someone writes you a bad check? What if a client hands you a wad of fake 20s? A home-based business insurance policy will protect you.
5. Exposure Is Large
You may think that you aren’t at risk for liability, but you are. No matter what type of home-based business you are running, you are open for at least some type of liability.
Protecting yourself and your assets is essential if you have a small business, even if you are operating it from a laptop while sitting on your couch. Reach out to our team for even more ideas on the products and services you need to operate your small business more efficiently.