Insurance For Your Home-Based Business
July 31, 2015
Does Your Home-Based Business Have The Insurance It Needs?
If you run a business out of your home, you are not alone. In fact, over half of businesses in the United States are run out of their owner’s houses. The problem is that the majority of these business owners assume that their Austin, TX homeowners insurance coverage will protect their business, but this is often not the case.
To ensure you have the right insurance for your home-based business, use this guide.
Your first step should be to find out if your home insurance policy offers you the coverage you need. Read through it, and you will most likely find that it specifically excludes business coverage and, in fact, operating a business out of your home may violate the terms of your policy. Exclusion of commercial coverage is standard for homeowners insurance.
Does that mean your business has to be left exposed? No! Here are some options for protecting your company:
- Get A Rider: If your business is fairly small and your exposure is limited, you may be able to cover your business with a simple, affordable rider added on to your existing homeowner insurance.
- Get A Business Owner’s Policy: If a rider will not offer your business enough protection, a business owner’s policy is a great solution. This policy will wrap lots of different types of coverage (e.g. business interruption, liability, equipment, property) into one convenient package. With a business owner’s policy, it is also easier to scale your coverage as your business grows.
Your business already requires a lot of your time and energy. So you do not have to pour any more of your precious resources into your business, contact Central Insurance Agency. Our expert team is ready to come alongside your business and help you get the perfect Austin, TX business insurance coverage for your specific needs. Do not leave your Texas business exposed; call us today!