The number of Americans that have a business out of their home is growing tremendously. In fact, over 12 million are Americans are doing such a thing right now but the most alarming number is that an estimated 60 percent of them don’t have any business insurance.  

There seems to be a disconnect between home business and business insurance – just because you don’t have a physical office that doesn’t mean you aren’t at risk or you don’t need any protection for your business. 

Homeowners insurance typically don’t carry much protection for the expenses that come with a home business if there is some type of loss or damage. Supplies, tools and customer data don’t necessarily fall under the umbrella of homeowners insurance. If anything related to your business is damaged in your home, you’re on the hook for it. 

There are three types of options for you if you decide to get business insurance for your home business: add a rider to a homeowner’s policy, an in-home policy and a business owner’s policy. 

Adding a rider to an existing policy makes the most sense for smaller home-operated businesses that can help cover the expenses if items related to the business are lost in theft or accident. 

An in-home insurance policy is there for those business owners that have equipment and liability needs that are much higher.  

If you own a large business out of your home, the business owner’s policy is the choice for you. This covers not just loss and liability but also includes any type of damages associated with malpractice, data breaches and interruption of business services (such as bad weather shutting down your business). 

Contact us for more information about which type of business insurance is right for your needs.