The number of home-based businesses is increasing steadily every year. Many small business owners would rather use the space that their home already provides instead of spending unnecessary money on renting a space or office. If your home can accommodate having a home based business, it is the most convenient and cost effective option.
Unfortunately, many small business owners are under the impression that their regular home insurance also covers their home business needs as well. This is not the case, although some aspects of the business are covered, most of it is left unprotected. Getting home business insurance coverage is essential for your protection and peace of mind.
Does Your Home Business Need Insurance?
It is in your best interest to obtain home business insurance coverage if you conduct your business from your private residence. However, there are some signs to look out for if you are still unsure. If you read through your home insurance policy, you will most likely find that it does not cover business equipment and issues such as security breaches and technology failures in your systems. It is wise to make sure you are covered for all of these and other problems that may arise.
Home Business Insurance Coverage
Our experienced and friendly staff at Skeele Agency, Inc. will be able to give you a thorough run through of all the policies available to you. Below is just a basic overview of the types of insurance policies that will cover your business.
Add-on insurance to a homeowners or renters insurance policy
– This is an addition to the business owner’s regular home insurance. It expands to offer coverage to the business. This is the cheapest option and is most appropriate for a one-person business such as an accountant working from home.
In-home business policy
– If you have people coming in and out of your home business, then this would be a smart choice. It covers the business equipment and liability for injuries that may happen on the business site.
Business owners policy
– This type of policy offers coverage for business equipment, loss of records, malpractice and other liability claims, loss of income, and many other things. If you have a number of staff and your business is of a larger size, then this is the type of policy you need. It offers a higher amount of coverage than the other two policies mentioned above and is the most comprehensive.
Choosing the Right Insurance for your Home Business
With so many insurance companies offering such a vast array of insurance plans, it can be overwhelming to choose the right one. This is where we come in. Skeele Agency, Inc. is an independent agency that does not work for any one company. Instead, we work with a variety of insurance carriers which allows us to choose the best insurance policy to fit your needs.
When working with a multitude of insurance companies, we can compare each to find the one that best accommodates your business insurance needs that fit your budget. The best part is that our services are at absolutely no extra cost to you. All review and comparison services are completely free of charge. Getting the perfect home business coverage is made simple with Skeele Agency, Inc.