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Insurance for Your Home Based Business

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Having a home based business allows you to create your own work schedule and spend more quality time with your loved ones. Owning a home based business also comes with special insurance needs. Make sure that you have the right insurance coverage for your home based business to provide protection in any situation.

There are three aspects to consider when you are looking for the right insurance coverage for your home based business, including:

  • The value of your equipment depends on the specific industry you are in. Make sure that you have enough insurance coverage to provide protection for all of your equipment in case it is damaged or destroyed.
  • If you have clients come to your house, liability insurance will provide coverage in case they are injured while on your property. Liability will also provide coverage if someone is injured by the product that you produce.
  • Industry specific risks. Each industry has specific risks that are associated with it. Make sure to consider what these risks are to ensure that you have enough coverage.

When it comes to getting the right business insurance policy for your home business, there are three main options, including:

  1. Adding and endorsement your homeowners insurance policy. If you have a relatively small business, adding an endorsement to your homeowners insurance policy for your business may provide enough coverage.
  2. Investing in an in-home business policy. Investing in a policy that is specifically designed for an in-home business will provide coverage for your equipment, lost income, and general liability.
  3. Get a business owner’s policy. A business owner’s policy will provide coverage for your in-home business if it has up to $3 million in sales. The exact amount of coverage will depend on your specific needs.

Contact Agers Insurance in Oakley, California for all of your business insurance needs throughout Northern California.