Its True - Your Home, the one that you live in - Wants you to have insurance for your work from home business.
I know, most people believe that their homeowners insurance covers their home. And it does, but it does not cover you from everything. It doesnt cover Floods, it doesnt cover physical damage from earthquakes AND it typically does not cover work from home businesses.
So, think this through with me. Someone stops by to drop off a check for your small business, they trip on a rusty nail and go to the hospital. Are you covered? If they were delivering that check to your office, than it is possible that you are not covered.
You probably need General Liability Insurance.
How do you solve this?:
Step 1: Call your Home Insurance Company
- Call them and tell them you work from home and want to endorse your policy for coverage. If your homeowners insurance company will write you - than you may be done.
Step 2: If your Home Insuarnce Company says "No Thank you
- Call an Insurance Broker and Ask them for a Standalone Business Policy for a work from home business.
If your small business is a common type of company, than the insurance is likely to be very inexpensive.
Taking just these two steps can help protect both your small business and your home.
Note that this post is just referring to General liabilty insurance. There are numerous others forms of insurance that your small business could need such as Errors and Omisssions Insurance, Business Auto, Commercial Umbrella, Workers Comp. Speak with a licensed insurance agent in your jurisdiction for more information.
Scott W Johnson
Marindependent Insurance Services LLC - CA Lic 0H11625
For more information concerning Work from Home Businesses consider Reading: Insuring a One Woman Opertaion from your Home