If you’re running a small business out of your home, it might be time to think about whether you’ve got the right insurance coverage. Not all policies are created equal – if you’ve got homeowners insurance for your residence, it likely does not cover commercial property or damage incurred while using your home for commercial purposes.
This article from Small Business Trends can help you understand why you need insurance for your home-based small business:
Is yours a home based business? You’re not alone if that’s the case. More than half of the businesses in the United States are based out of the owner’s home, with more being added every year, according to research by the Small Business Administration.
If so, is yours also one of the 60 percent of small office home office businesses that lack adequate business insurance, according to the Independent Insurance Agents & Brokers of America?