What to know about insuring your home business.

If you are running a company out of your home, then you may assume that your homeowners insurance will cover your commercial property and liability.  However, most home insurance policies specifically exclude coverage for business-related items and assets.  So, how can you secure the insurance protection that you need?  Here are some of your options.

  • Home Insurance Endorsements

One way to secure coverage for your business is with endorsements.  Many insurance providers offer homeowners the ability to add endorsements to their existing home insurance policies to protect things like their business equipment and assets.  It’s also possible to secure liability endorsements for your home business, but this coverage is subject to certain conditions.  Typically, insurers only offer these types of endorsements for home businesses that receive few visitors and clients.

  • BOPs

If the coverage offered by home business endorsements isn’t enough, then you can also secure a business owners policy (BOP).  BOPs offer small business owners a range of basic commercial coverages in a single policy.  Typically, BOPs offer general liability, commercial property, and business interruption insurance.  Many insurance providers also give business owners the opportunity to customize their BOP coverage by adding additional coverage such as cyber liability, equipment breakdown, and product liability insurance.

  • Commercial Insurance Policies

If you need special forms of coverage not available through endorsements or a BOP, then you will have to secure separate business insurance policies.  Because your home business may not have the same coverage needs as traditional small businesses, make sure you work with an insurance agent you trust to secure the necessary coverage.

These are some of your options when it comes to insuring your home business.  Do you have additional insurance questions?  If so, then contact the experts at Scautub Agency in Scotia, New York.  Our dedicated team is eager to get you the coverage that you need today.