insurance prohibits ladders
photo credit: stallio

There are millions of home based business’ today, and most of these business’ do not contain the proper insurance policy. Consider all of the possibilities in a home based business such as computer, inventory, slip and fall coverage, fire, theft, cell phone, lap top, files, etc.

Many entrepreneurs mistakenly believe they’re covered by their homeowners insurance, but most homeowners 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.

There are a few different policies that your business might fall under, so when signing up, ask your agent a lot of questions, be honest with them about what you have involved in your business such as your inventory, equipment, number of customers that come to your home.

Set up safety rules for everyone, don’t take a job that your not qualified for or that your insurance would not cover in case of an accident or disaster. Make sure you thoroughly read all contracts before signing on a job. Install motion lights and smoke detectors to help ward of potential hazards.

Is your business covered properly under insurance?

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