Eugene C. Yates Insurance Agency Blog
Does my Sacramento home insurance cover my home business?
8/31/2011 10:50:00 AM
Are you one of the millions of people in this country who have swapped the daily commute and office politics for a work-from-home lifestyle? We know that after making this major career change you will be working hard to manage and develop your new business, but spare a few moments to work out whether your Sacramento home insurance offers adequate coverage, or whether you need additional business insurance.
A typical home insurance policy is likely to provide some protection for basic home business equipment, but this list is limited. While a few thousand dollars might be sufficient to replace the most basic items in your home office, you may have particularly expensive items such as film or camera equipment, or you might store stock or temporarily keep property that belongs to clients at your home. The cost of replacing these items may not be covered by your standard home insurance policy. You might need an endorsement to your policy or a separate one altogether in order to increase your coverage.
Apart from office equipment, there are a few other areas of coverage that you might need to consider, such as business interruption, business liability and professional liability. We find that many people who start a home business think that home insurance is all they need, but they are surprised to learn that they are not protected from many business risks. If you’re operating a home business, don’t assume that your current Sacramento insurance policy will be sufficient. Consider the business risks you face and speak to your agent about the level and types of coverage you might need to have in place.
A typical home insurance policy is likely to provide some protection for basic home business equipment, but this list is limited. While a few thousand dollars might be sufficient to replace the most basic items in your home office, you may have particularly expensive items such as film or camera equipment, or you might store stock or temporarily keep property that belongs to clients at your home. The cost of replacing these items may not be covered by your standard home insurance policy. You might need an endorsement to your policy or a separate one altogether in order to increase your coverage.
Apart from office equipment, there are a few other areas of coverage that you might need to consider, such as business interruption, business liability and professional liability. We find that many people who start a home business think that home insurance is all they need, but they are surprised to learn that they are not protected from many business risks. If you’re operating a home business, don’t assume that your current Sacramento insurance policy will be sufficient. Consider the business risks you face and speak to your agent about the level and types of coverage you might need to have in place.
