Homeowners Insurance and Your Home-Based Business

home business papers

How do you properly insure a home-based business?


With both technology and the internet, more and more people are running home-based businesses, either full-time or part-time. But many of these business owners are unaware that they are exposing their hard work to risk if they don’t take out the correct insurance. Here is what you should know about insuring your home-based business.


Home Insurance

Standard home insurance does not cover a home-based business. This means that if your property suffers from a fire or another disaster, your business equipment and inventory will not be replaced. Some business owners will pay an additional premium to add an endorsement for the business onto their home insurance policy. An endorsement simply extends or restricts the reach of the policy coverage. In this case, it extends coverage from their home insurance policy to their business. While it is better than nothing, endorsements are very limited and don’t cover everything a business needs.


Commercial Insurance

When it comes to protecting a home-based business, the best thing an owner can do is purchase a commercial insurance policy. This type of policy will cover both general liability claims, such as business equipment in the home, as well as professional claims, such as lawsuits. It’s also important to note that if you use a vehicle for business purposes, you will need to take out commercial auto insurance as your personal policy will not cover your business-related journeys.


Are you ready to find the right commercial insurance coverage for your needs? Contact the team at Gee-Schussler Insurance Agency in Orland Park to get started on your tailored cover.