According to the Small Business Administration, home-based businesses comprise over half of all U.S. businesses. If you run a business out of your home, you may want to purchase insurance that will protect your assets and yourself against certain risks. Just because you have a home office, do not assume your homeowner’s or renters insurance policy will adequately cover your business. In certain instances, a homeowner’s policy may exclude business related liability claims, such as when a customer or client is injured on your premises. We are Irongate Insurance Counselors, and we can explain all the types of insurances that will protect your home based business.
Types of Insurance to Consider
- Workers’ Compensation Insurance
- Property and Liability Insurance
- Homeowners Policy Endorsements
- In-Home Business Policy
- Business Owner’s policy
- Business Interruption/Continuation Insurance
- Commercial Auto Insurance
Many small business owners run their operations out of their own home and assume they do not need business insurance. Business insurance policies do not have to be prohibitively expensive. In fact, as with other types of insurance, your premium is directly linked to your coverage limits and your policy’s deductible amount. Irongate Insurance Counselors will be happy to sit down with you and explain all your home based business insurance options. Call us today at (860) 658-6500.
Source: Connecticut Insurance Department