Article by Chaim Goldstein
There is absolutely nothing quite like working from home in your very own home-based business. However, when you run a business from home you need to make sure you have the proper insurance policies in place to protect you and your new company from common pitfalls that many home business owners face. It's said that 3 out of 10 homeowners run a business from their home and that 40% of those are uninsured. Many of those uninsured business owners are under the false assumption that their homeowner's insurance will cover them in case anything ever happens. Don't be one of those homeowners and get the proper home based business insurance that will ensure that you are always able to make money even when your home-based business is forced to close temporarily for whatever reason.
<strong>What is Home-Based Insurance?</strong>
Home based business insurance is a lot like homeowners insurance in that you will be compensated for any of your property and assets that have been destroyed or are considered irreplaceable. Usually, a homeowner's policy will only cover $2500 for damages on your premises and $250 off premises. Not only that, but most homeowners' policies don't cover liability that arises from your home business. For instance, if you are having a package delivered for your business and the delivery man slips and falls, your homeowner's policy won't cover it, but your home business insurance will.
<strong>Business Owner's Package</strong>
If you have a home business and you know that you need insurance, it's likely that you're lacking the other types of insurance all small business owners should possess, as well. In these cases, you can often take advantage of business owners' package policies or BOPs. These packages are tailored for your particular business and will allow you to pay one premium for the coverage your home business needs.
<strong>Anything Can Happen</strong>
Whether you purchase a package deal or you purchase a home business insurance policy by itself, you will want to make sure you get the maximum coverage that you think you'll need. If someone steals your computer and you can no longer service your customers, home based business insurance will cover that. In addition, if a flood damages your home and you can no longer work out of it until the crew that you've hired has cleaned up the job, you will also be covered for loss of income under your policy.
These are just some of the reasons why home business insurance just makes sense whenever you're working from home. If you are only relying on your homeowner's insurance policy to cover you in case of an accident, you may find that the coverage you receive just isn't enough to pay your bills with in the off chance that you are prevented from doing business as you're accustomed to. But if you can put the proper insurance policy in place for your home based business insurance, you'll sleep easier knowing you're protected.
What if you don't find the home business insurance you want?
I know how hard it can be to try and find the exact risk areas with your business that need coverage, but if you want to find out the real areas of risk and truly get insurance that will minimize the risk to the maximum extent possible. look here.
<strong>What is Home-Based Insurance?</strong>
Home based business insurance is a lot like homeowners insurance in that you will be compensated for any of your property and assets that have been destroyed or are considered irreplaceable. Usually, a homeowner's policy will only cover $2500 for damages on your premises and $250 off premises. Not only that, but most homeowners' policies don't cover liability that arises from your home business. For instance, if you are having a package delivered for your business and the delivery man slips and falls, your homeowner's policy won't cover it, but your home business insurance will.
<strong>Business Owner's Package</strong>
If you have a home business and you know that you need insurance, it's likely that you're lacking the other types of insurance all small business owners should possess, as well. In these cases, you can often take advantage of business owners' package policies or BOPs. These packages are tailored for your particular business and will allow you to pay one premium for the coverage your home business needs.
<strong>Anything Can Happen</strong>
Whether you purchase a package deal or you purchase a home business insurance policy by itself, you will want to make sure you get the maximum coverage that you think you'll need. If someone steals your computer and you can no longer service your customers, home based business insurance will cover that. In addition, if a flood damages your home and you can no longer work out of it until the crew that you've hired has cleaned up the job, you will also be covered for loss of income under your policy.
These are just some of the reasons why home business insurance just makes sense whenever you're working from home. If you are only relying on your homeowner's insurance policy to cover you in case of an accident, you may find that the coverage you receive just isn't enough to pay your bills with in the off chance that you are prevented from doing business as you're accustomed to. But if you can put the proper insurance policy in place for your home based business insurance, you'll sleep easier knowing you're protected.
What if you don't find the home business insurance you want?
I know how hard it can be to try and find the exact risk areas with your business that need coverage, but if you want to find out the real areas of risk and truly get insurance that will minimize the risk to the maximum extent possible. look here.
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