Why Do You Need Home Based Business Insurance?

Your home based business might be small, but that won't stop a customer from suing you, or stop a burglar from stealing your home office computer, or stop a fire from destroying your inventory. If any of these things happen, without the right insurance, paying for these losses comes out of your pocket. 

Unfortunately, your homeowner's policy may not cover things like business liability, business property, data breach or loss of business income. And adding home based business coverage to your homeowner's policy may still not be enough.

General Liability Insurance

If you work from home and don't have inventory, equipment or an offsite location, you might only need general liability insurance. It may help protect you if a customer sues you for negligence, resulting in things like personal injury or damages from a faulty product. 

Business Owners Policy

If you have business property, like a separate structure, inventory, or even a laptop used for business, consider a business owner's policy. It combines property and liability insurance in one convenient policy. So home office equipment, inventory or even if you are sued by a customer injured in your home office, you could be covered. If your home gets damaged and you must close your business, a business owners policy can offer coverages that can even help cover your loss income. 

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Professional Liability (Errors and Omissions) Insurance

Professional liability insurance, also called errors and omissions (E&O) or indemnity insurance, protects your business if you are sued for negligently performing your services, even if you haven’t made a mistake.

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Helping you find the right insurance for your home based business is just one way that PeoplesAlly can help you prevail when the unexpected strikes.