Home Business Insurance
If you own a home-based business – or are thinking of starting one up – home business insurance offers an affordable way of protecting your enterprise. While commercial coverage exists to cover a home business, it can be difficult to find, and is almost always expensive. Home business insurance offers an affordable alternative.
If you think your homeowners insurance is sufficient to cover your home-based business, you may need to think again. The fact is, homeowners insurance policies are not designed to cover the business use of the home. The typical homeowners insurance policy only provides $2,500 coverage for business property on premises, $250 off-premises, and no coverage whatsoever for lawsuits resulting from your business.
If you think your homeowners insurance is sufficient to cover your home-based business, you may need to think again. The fact is, homeowners insurance policies are not designed to cover the business use of the home. The typical homeowners insurance policy only provides $2,500 coverage for business property on premises, $250 off-premises, and no coverage whatsoever for lawsuits resulting from your business.
Here's an Example of What that Could Mean to You...
If a business client slipped and was injured in your home office, your home insurance policy wouldn't pick up the tab. To make matters worse, you’d be on your own to deal with an ensuing lawsuit.
While legal liability is probably your most serious risk, there are other potential gaps as well. For example, if a fire destroys your home, it also destroys your place of business. Even if you could resume operations elsewhere, it would take time and money to do that. How much income could you anticipate losing in the interim? And what would happen if your billing records and other important files were destroyed?
You may be pleasantly surprised to find out how affordable home-based business insurance can be. Look for a policy that allows you to tailor your coverage for your unique needs and the needs of your business.
The AARP Home Business Insurance Plan from The Hartford offers home business insurance designed exclusively for people over 50. Learn more about home based business insurance from The Hartford.
While legal liability is probably your most serious risk, there are other potential gaps as well. For example, if a fire destroys your home, it also destroys your place of business. Even if you could resume operations elsewhere, it would take time and money to do that. How much income could you anticipate losing in the interim? And what would happen if your billing records and other important files were destroyed?
You may be pleasantly surprised to find out how affordable home-based business insurance can be. Look for a policy that allows you to tailor your coverage for your unique needs and the needs of your business.
The AARP Home Business Insurance Plan from The Hartford offers home business insurance designed exclusively for people over 50. Learn more about home based business insurance from The Hartford.