Homeowner Business Insurance

Generally, you do not meet with clients at your home office if you run a home-based business. In a home-based business your bigger concern is protecting the equipment (property insurance), not the customer liability (casualty/liability insurance). Depending on the scope of your home-based business, your homeowner's policy might not be enough to cover the cost of your business equipment. A homeowner's policy usually covers for a small amount, but it is often not enough to cover you business equipment losses. If this is the case, you will have to shop around for more substantial business insurance or increase the coverage of your homeowner's insurance.

Even if you are not meeting clients in your home, you might have liability issues. If, for instance, you are selling food products wholesale or creating a product, your product will still have liability. You should get …show more content…
This is usually referred to as a business owner's policy. This type of insurance covers many business risks and can be customized to fit your particular business needs.

What type of business insurance should I get?

Insurance can cover a variety of catastrophes including natural disasters, fire and theft. Providing good health coverage for your employees can help you retain them. However, these are not the only types of insurance available. You may be required to carry life, business interruption, or auto insurance depending on the nature of your business. Other types of insurance cover business liability or damage to your inventory.

Banks, investors, and other lenders may require a business owner to have good insurance coverage before processing a loan; this minimizes their risk of losing their investment. Investors and partners may also require a business to have a "key man" insurance policy-life insurance on the owner or crucial employees-so the business can survive in the event something happens to these