Find Cheap Home Office Insurance
Get an Inexpensive Home Business Insurance Policy Today
Guest writer Patricia H. Stadnick of Amica Mutual Insurance Company discusses getting inexpensive home business insurance. Learn about professional liability in the home.
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Do you work from home on a regular basis? More and more people are discovering the advantages of home-based businesses and the flexibility of telecommuting. Even those working traditional office jobs may take work home regularly to catch up or get ahead. If you fit into one of these categories, you may want to perform a home office insurance check-up to ensure that all of your exposures are covered.
For example, many people think that homeowner insurance policies provide enough coverage for professional laibility and business equipment used in the home. But in fact, most homeowner insurance policies provide only $2,500 in coverage while the property is on the premises—and far less when off the premises— which may not be enough to cover all of the equipment that you own. And if your home business requires regular visits by customers, clients, or delivery people, you may also need to buy professional liability insurance.
Things to Consider When You Want to Find an Inexpensive Small Business Insurance Policy for Your Home.
If you’re wondering whether you may need to buy professional liability for your home-based business, first identify the equipment and resources in your home that you utilize for business purposes. If you make use of any of the following items in a business capacity, you may need additional home office insurance:
- Personal or laptop computer
- Office furniture
- Electronic equipment
- Supplies
- Hobby items such as crafts
After identifying items in your home that are used for business purposes, next assess your potential professional liability exposures. If you provide services like tutoring or teaching piano lessons or if your home-based business generates increased traffic around your home, you probably have increased professional liability exposures that should be addressed. Having the appropriate coverage in place protects you and your assets if someone gets hurt on your premises.
In some cases, you may obtain the additional coverage that you need in the form of an endorsement to your existing homeowner insurance coverage. In other cases, an in-home business policy may be required. There are many variations based on the state in which you live and the policy forms in effect for that state. For the appropriate policy and help in determining the level of coverage you may need, it’s best to get professional advice.
Patricia Stadnick, CPCU is a Communications Officer at Amica Mutual Insurance Company. For more information on Amica insurance visit www.amica.com.
