Many self-employed professionals operate their businesses from home and simply rely on their homeowner’s insurance policies to provide protection for their home-based business. This is a very risky business decision running a business out of your home introduces unique liability risks. While your house is protected, the important files, equipment, and yes the people that visit your home-based business likely will NOT be covered by your homeowner's policy. Without knowing it, you may be putting your personal assets in jeopardy which is simply one of the worst business decisions you can make.
To operate your business from home with a peace of mind, you should seriously consider planning and customizing a home-based business insurance with an independent agent. You will need a general liability policy to protect you against claims of personal injury and against damage to other people’s property or premise. Because less people will be visiting your place of work, you will have lower risk of accidents or other unfortunate events occurring. It is best to consult an independent agent so you can get general liability premiums that are fairly less expensive.
The home-based business insurance policies that we write throughout VA, MD, DC also include a professional liability insurance. So that in case your business gets sued for negligence, even if you have not made any mistake, this policy has you covered. The lawyer’s fee including other related legal fees will be compensated up to the policy limit thereby keeping you away from the financial hurdles of such proceeding.
To find out more about how to customize an insurance policy to cater to the specific requirements of you home-based business, contact TriState Business Insurance.