A for the People Insurance
  • Home
  • About
  • Insurance
    • Auto Insurance
    • Homeowners Insurance
    • Life Insurance
    • Renters Insurance
    • Business Insurance
    • Malpractice Insurance
    • Environmental Contractors Insurance
  • 24/7 Auto Quotes
  • It’s time . .
  • News
  • Contact

Does Your Home-Based Business Need Business Insurance? This Overview says: PROBABLY

Thursday, September 13th, 2018in Uncategorized, by aforthepeople / 0 Comments
From Legalzoom/BOLT Staff

Does Your Home-Based Business Need Business Insurance?

Does Your Home-Based Business Need Business Insurance?

by BOLT Staff, March 2012

These days, many successful entrepreneurs and small business owners operate their businesses from the comfort of their homes. But just because you can run your business wearing fuzzy slippers doesn’t mean that it’s not a real business. And as such, it needs to be insured just like any other brick and mortar operation.

It’s important for small business owners to know that neither homeowners’ nor renters’ insurance policies cover home-based businesses. Therefore, if you run a business out of your home, it’s wise to work with an insurance professional who can provide you with more details on the kinds of home-based business insurance that’s available for your business.

The type of coverage you need for your home-based business will depend on your business or industry. Some types of home-based business insurance include:

Business Property Insurance – If you use any kind of equipment to run your home-based business, including a computer, fax machine, printer, furniture, etc., you should have business property insurance to be insured against loss or damage to property used in your business. That’s because your homeowners’ policy doesn’t typically provide coverage for business equipment losses by fire or flood. Instead, you’d need business property insurance.

Liability Insurance – If you have clients or other visitors come to your house for business purposes, then liability insurance is necessary. Liability insurance protects you and your business from being liable for damages caused to another person or property. Again, your homeowners’ policy won’t protect you from claims made from business visitors who may have been injured at your home-based business. For example, if someone making a business delivery to your home slips and falls, you’ll need liability insurance, not homeowners insurance, in order to be covered.

Professional Liability (Acts Coverage) – Similar to professionals working out of their home, professionals working inside their home need professional liability insurance. If you’re a consultant or working professional, professional liability insurance can protect you against potential negligence or failure to deliver claims made by your clients (or patients).

Product Liability Coverage – If you run a business that makes or supplies a product, speak with your insurance professional about product liability coverage, which protects your business for damages to property or a person caused by a product you designed, manufactured or supplied.

Business Automobile Coverage – If you need to make (or pick up) deliveries, visit clients or otherwise use a vehicle for business purposes, your personal auto policy won’t cover the business use of the vehicle. Instead, you’ll need business automobile coverage, which will provide coverage if you are in an accident.

Other Coverages – There are other home-based business insurance coverages that may be important, depending on your business. For example, if your business has employees, you may need workers compensation insurance. Commercial crime insurance protects against losses from equipment theft, fraud and other crimes. Furthermore, endorsements and riders on homeowners’ policies in addition to specialty home and office policies are important coverages that small business owners should consider.

So, does your home-based business need insurance? Based on the plethora of potential business liabilities, you’re probably better off having at least a combination of a few policies in place, depending on your business needs. And that could be one less thing to keep you up at night—even if it is in your home-office.

BOLT (Business Owners Liability Team) is a national insurance agency exclusively dedicated to protect small business owners and is licensed to do business in all fifty states. BOLT agents help business owners choose the right insurance products to fully protect both their businesses and themselves. Get a free business insurance quotecomparison online.

Insurance

  • 24/7 Online Auto Quotes
  • Auto Insurance
  • Business Insurance
  • Environmental Contractors Insurance
  • Homeowners Insurance
  • Life Insurance
  • Malpractice Insurance
  • Renters Insurance

News Archives

  • November 2022
  • November 2021
  • April 2020
  • September 2019
  • August 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • April 2017
  • March 2017

Recent Posts

  • Check out the new NatGen app on iOS and Android Check out the new NatGen app on iOS and Android November 10, 2022
  • 9 ESSENTIAL STEPS TO IDENTITY THEFT PREVENTION 9 ESSENTIAL STEPS TO IDENTITY THEFT PREVENTION November 15, 2021
  • Coronavirus and Car Insurance–All You Need to Know–The General Insurance® Coronavirus and Car Insurance–All You Need to Know–The General Insurance® April 16, 2020
  • Don't think you drive distracted? You might be surprised. Don't think you drive distracted? You might be surprised. September 12, 2019
  • In a car accident? Helpful tips on what to do next... In a car accident? Helpful tips on what to do next... September 6, 2019
  • Infographic: Deer on the road? Here’s what to do! Infographic: Deer on the road? Here’s what to do! September 1, 2019
  • 4 school bus safety tips for drivers 4 school bus safety tips for drivers August 28, 2019
  • CAUTION: POSSIBLE HAIL STORMS AHEAD CAUTION: POSSIBLE HAIL STORMS AHEAD May 8, 2019
  • 10 Energy Saving Tips for Spring 10 Energy Saving Tips for Spring April 24, 2019
  • TOP 10 WORKPLACE INJURIES TOP 10 WORKPLACE INJURIES April 16, 2019

Recent News

  • Check out the new NatGen app on iOS and Android
  • 9 ESSENTIAL STEPS TO IDENTITY THEFT PREVENTION
  • Coronavirus and Car Insurance–All You Need to Know–The General Insurance®

News Archives

  • November 2022
  • November 2021
  • April 2020
  • September 2019
  • August 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • April 2017
  • March 2017

Search Our Site

© 2012 A for the People Insurance Agency, Inc. 2514 Wylie Avenue, Pittsburgh, PA 15219 - 412.621.5581 - [email protected]