More than half of businesses are based out of the owner’s home. Many think their homeowners’ policies cover them, but the reality is that most homeowners’ policies don’t.
Most homeowners’ policies restrict coverage for equipment, and some even consider operating a home-based business a violation of the policy terms.
If you have an office but regularly work from home, you may need additional coverage for work-related incidents that occur at home.
Home-based business owners are surprised to learn their homeowners’ policies often don’t cover third-party injury claims related to their work.
Whether printed out or on a computer, security breaches and technology failures leave people vulnerable to lost income and customer lawsuits.
You Have Options
Rider to homeowner or renter policy
This can be a good option for a one-person operation with limited exposure, minimal business equipment and no business visitors/deliveries.
Business Owner Policy
This provides the most comprehensive coverage against business interruption, business equipment or data, and professional liability claims.