Thought it may be difficult to imagine, the U.S. Small Business Administration says that more than half of all businesses in the U.S. are located out of the home of the business owner. Regrettably, several of those home-based business owners feel that they don't require any special insurance policies to defend their business from the liabilities they are exposed to every day as a normal part of their company's activity. Some assume that their homeowner's insurance will protect them, while some people don't realize how vulnerable to liability they truly are.
Understanding the need for insurance for your home-based business is critical, and, if you want to keep your business going, is something you should determine before the policy is actually needed. Let's check out some examples of insurance you should mull over.
- Liability coverage up to $1,000,000
- Business personal property coverage up to $100,000
- Off-premises coverage
- Loss of business income coverage
- Optional coverage for money and securities
- Equipment breakdown coverage included in the basic premium
- Professional errors and omissions sublimit of $25,000 for specified classes
- Satisfies most show and event liability requirements
- A.M. Best rated A++ carrier
- Coverage for select home based businesses with up to $500,000 in gross annual sales
- Businesses with no more than three employees (in addition to the owner)
- Businesses that are sole proprietorships, partnerships, LLC’s, or corporations
- Optional additional insured coverage for grantor of franchises, mortgagee, lessor of leased equipment and more
- No more than two business related claims in the previous three years
Home-Based Business Insurance is extremely affordable, with premiums as low as $250. D. Ward Insurance would be happy to answer any questions you may have about Home-Based Business Insurance or to begin the process of getting a Home-Based Business Insurance Policy. Call us today at 770-974-0670 or click the button below to request a quote. We look forward to doing business with you!