Home Business Insurance

Home Business Insurance

However, if you work from home and you have some office equipment in there, will those still be covered by your basic home business insurance policy? If you think they are covered then you are mistaken. Even if you do own those items and they are located inside your home, they are used for commercial purposes which will disqualify them from being covered. If you want to have coverage for such items, you will have to take out a separate home business insurance policy.

Home business is basically what the phrase suggests - it is an insurance policy that covers business-related items that are found within your home. But that's not all it is. Home business has a lot of advantages over the traditional home policies and here are a few reasons why.

1. Typical home plans will not cover any loss or damage of an item if the loss or damage occurred outside the premises of your home. With home business insurance on the other hand, these away from home accidents are all covered. So if you bring your laptop to a meeting somewhere and it gets damaged or stolen, you can file for a claim with your insurance company.

2. Most home business insurance policies have a built-in personal liability cover. This is useful especially if your business entails that you have your business partners, clients and customers come over frequently for meetings and conferences in your. In the event that someone decides to sue you for accident that happens within your property, the personal liability will be able to protect you from any charges.

3. On top of everything that is covered by your existing home insurance policy, home business insurance policies have a wide coverage that also includes business cards and accounts. In case your accounts are stolen or damaged, you do qualify to gain back your entire account or the maximum allowable claim according to the home business insurance policy, whichever is lower.

4. The maximum claimable value for losses or damages is much higher with a policy than a traditional plan. To give you this higher claim though, insurance companies do charge a higher premium amount for home business insurance policies. This is just a small increase though and is very much worth the additional benefits.

If you are currently holding an existing Homeowner Insurance policy, you can ask your insurance agent if they can offer you the option of simply upgrading to a home business insurance plan. This will save you the trouble of applying for a new plan altogether.

But if your insurance company does not offer this option, you can always look around the internet for other insurance companies that do have home business insurance policies.
You may want to check out my other guide on Best Pets Insurance and Child Life Insurance.