According to research from the Independent Insurance Agents & Brokers of America, at least 60 percent of in-home entrepreneurs are not properly insured.
You may not think that operating a home office or a home-based business carries greater liability than simply living in the house, but your insurance carrier probably has a different opinion. Most homeowner's policies limit loss of business property to $2,500, don't cover losses away from the home, and exclude liability coverage for business-related activity.
- Furniture, equipment, and supplies
- Money and securities
- Records of accounts receivable
- Improvements and betterments you made to your property
- Data-processing equipment and computers
- Valuable papers, books, and documents
- Mobile property, such as cars, vans, trucks, and construction equipment
- Signs, fences, and other outdoor property
- Intangible property (goodwill, trademarks, etc.)
Home Office Policy Options
Homeowner's Policy Endorsement
Insurance Coverage for Home Office Equipment