Home-Based Business Insurance – Home Business Insurance
Home-Based Business Insurance
In Home Business Insurance
By: Allen Financial Insurance Group
Contact us for a no obligation home-based business insurance quote today
Do your homework for your Home-Based Business:
Across the country, home-based entrepreneurs are turning dining rooms into conference rooms and dens into brainstorming centers. Decreasing corporate staff sizes and increasing technological advances have encouraged record numbers of people to transform their homes into business headquarters. Businesses run out of a home can range from small practices to larger service or online retail operations. That’s why Allen Financial Insurance Group offers a complete range of Home-Based Business Insurance coverage options that can serve the needs of virtually any home-based business in a cost-effective way.
While “homework” has its rewards, it also has unique needs. According to a recent study commissioned by the Independent Insurance Agents of America, nearly 60 percent of home-based business owners don’t have the insurance they need. Why? Many home-based entrepreneurs incorrectly assume that their homeowners policies protect their businesses.
Most homeowners policies provide limited — if any — coverage for the equipment and liabilities associated with home-based businesses. If you have joined the ranks of the at-home work force, don’t forget to include insurance in your business plan. Contact us to learn more about protecting your home-based business.
What is Home-Based Business Insurance ?
Home-Based Business Insurance policies are designed specifically to handle the business insurance needs of a business that is operated from your home by providing coverage for business personal property (equipment, inventory and supplies) and business-related liability exposures. In addition, an in-home business policy can provide coverage for lost income. Home-Based Business Insurance covers losses or damage from business activities conducted in your home or off-site at another location. That means your business property is protected while you are in transit and provides liability coverage when you are performing business-related activities at a craft show, seminar or someone else’s residence. Allen Financial Insurance Group’s home based business insurance fills the gaps left by most insurance policies.
Home-Based Business Insurance Endorsement offers the following:
Our Home-Based Insurance Endorsement, a simple addition to your homeowners policy, provides coverage for your home-based business. The endorsement is less expensive than a business owner policy, yet still offers the security and protection your home-based business requires.
On-premises business property, including electronic equipment, is covered up to the contents limit on your homeowners policy.
Off-site business property is covered up to $5000.
Up to 12 months coverage is available for business interruption and extra expenses resulting from a covered loss.
Business credit card and check forgery coverage.
Business liability coverage, including: personal injury and medical expenses, advertising injury, products, and completed operations (professional liability is specifically excluded).
$10,000 accounts receivable coverage.
$5,000 valuable papers coverage.
Do you need Home-Based Business Insurance?
- Do I maintain client or employee records on my computer?
- Do I have employees working in or outside of my home?
- Would I lose income if I had to close my business because of damage to my home?
- Do I keep inventory or supplies in my home or at off-site job locations?
- Do I take meetings or have customers/clients come to my home?
If you answered “YES” to any of the questions above, a homeowner’s insurance policy may not provide enough protection for your home-based business. Without the proper coverage, your business could be financially responsible for any property damage, lawsuits, injuries, or any other issues relating to data loss.