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Running a business from home has never been easier.  Smart phones and the Internet have seen to that. It's not surprising that a new study revealed that home based businesses are becoming "an underlying long-term trend". A 2012 survey says 69% of businesses now start in the home. If you're running a business out of your home, you may think your homeowners policy will cover your business property and liability exposures.  Think again.  A homeowners policy does not cover a business liability exposure.  And business property is limited to $1,000 coverage.  You can increase the business property coverage.  And for certain kinds of businesses, liability coverage can be added to a homeowners policy. But it's limited to premises liability and will not cover the business outside the home. 

What kinds of losses do home based-businesses have?  Here's a list of just a few:

        1) Business property is stolen.
        2) Your booth at a tradeshow or farmers market collapses causing injuries.
        3) A client sues you for an error you made that caused them to lose their largest client.
        4) While delivering business supplies to your home, the delivery person trips and falls on icy stairs causing injuries.

There are some very affordable and comprehensive home based business insurance policies that will provide business property, general liability, and professional liability for some classes of business. The premium for a home based business policy can be as little as $200 a year. It's a small price to pay for big protection for your business.  Call us for more information.

Maggie Nessim, CIC
Faller Insurance Agency


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