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Why Your Home-Based Business Needs Insurance

Small business owners who run a company or freelance business out of their home are often under the assumption that their regular homeowner’s insurance will cover losses to the business. Unfortunately, it’s not until after an accident or loss that the business owner realizes their homeowner’s policy does not cover any aspect of their business.

It’s important that any home-based business that has a decent amount of customers and profits has business insurance. Shawnee, KS insurance agents can help any home-based business entrepreneur figure out which type of insurance coverage they need.

Homeowner’s Insurance May Not Cover Loss of Business Equipment

If a home gets broken into and office equipment stolen, the homeowner’s insurance may refuse to cover the loss if the equipment was used solely for business purposes. The same is true if a natural disaster, such as a flood or fire, ruins the equipment. Homeowner policies typically cover personal belongings that aren’t designated for business purposes. In order to recover for these losses, it’s important to have Business Insurance in Shawnee KS.

Small Business Insurance Will Protect You Against Small Claims

Although a business may be home-based, many entrepreneurs must travel to different locations to complete jobs. Photographers, videographers, and freelance writers are examples of self-employed individuals who may need to travel on location in order to work. Some freelancers allow clients to visit their home office to pick up photographs or view a wedding video. If that client slips and falls while visiting the home office, the business owner could be monetarily responsible for any resulting medical bills.

With the right home-based business insurance, Shawnee KS small business owners are protected against damages to equipment, loss, theft, and any injuries that may occur when clients visit the home. Policies vary, so make sure the insurance agent thoroughly explains the coverage.

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