Why is your HomeBase Policy or Insurance important? Many will say, for what? more expenses. According to the US Small Business Administration. More than half of the companies in the United States are domiciled.
The fact of establishing the headquarters of your business in your home. It does not mean that your home insurance will adequately protect your operation.
The typical policy of coverage of the owner provides a coverage of $ 2,500. And that can cover the equipment of your business; but it will not cover the loss of data or income. much less liability protection.
Do your research to protect yourself and your business at home. “An important thing for any business owner is to create a business plan.” and “That includes having the right type and the amount of insurance coverage.”
In general, home based business owners have three basic options:
- Homeowners policy endorsement: It should be added to a homeowner’s policy to increase coverage in commercial equipment. There may also be the option to buy an endorsement of owners liability for protection in the event that someone. For example, a delivery person, is injured on your property.
- In-home business policy: A home business policy provides more complete coverage for the business team and responsibility. while an endorsement of the owner’s policy does not. These types of policies, which can also be called commercial endorsements at home, vary significantly according to the insurer.
- Business owners policy: Also called a BOP, this plan offers the most comprehensive coverage for small- and mid-size businesses. It protects against many of the same things that in-home business policies do, but offers even more coverage.
Owning a smart business at home is much more than having the right insurance. Other factors to consider include:
- Additional insurance: re-evaluate your coverage as your business grows and your needs change.
- Zoning laws: visit your local planning office to review restrictions that could affect your business.
- Licenses and permissions: discover what licenses and permissions you need to manage your business legally.
- Taxes: Talk to a tax professional about tax laws for home-based businesses. Also, investigate deductions to save money, such as deduction from the central office.
Are you not sure if you are adequately protected?
Talk to your insurance agent and ask questions about it. It is well insured, it is not an expense. Being well insured is peace of mind for you and your family.
selling insurance may be a good business, and insurance may be a homebase products for you.