Keep Your Home Based Business Healthy with an Insurance Check-Up

woman working on laptop at home | Kemner Iott Benz

Home-based businesses are key drivers of the U.S. economy with an estimated two-thirds of all small businesses starting (and many continuing) their operations in the home of their owners. Although having a home-based business, like Avon, Tupperware, Rodan and Fields can provide great benefits and freedom, it also brings with it additional risks, which are often underestimated by even seasoned entrepreneurs.

Knowing the facts can help you protect the health of your home-based business

One of the most common myths about insurance for home-based businesses is that a homeowners insurance policy is all the insurance coverage an owner needs to protect themselves and their business. Considering that homeowners insurance policies do not provide any, or at best very limited, protection against business-related property damage, liability claims, employee injuries, fraud, theft and vandalism—this is simply not true. That’s why if you own a home-based business it’s wise to schedule an insurance check-up with an experienced insurance professional to reduce your risks.

Property and liability insurance offer key coverage

If your home-based business is not adequately protected by insurance, you risk having significant financial exposure should your business suffer a loss that impacts its physical or financial assets or even the ability to operate, which can result in the loss of your own income.

Home-based business property and liability insurance are key areas of coverage to consider to keep your home-based business protected from theft and damage as well as from legal claims such as those launched by injuries to clients. Property and liability insurance for your home-based business protect you against these risks by providing a financial buffer that can help your business recover from devastating setbacks. Also, you may also benefit from workers’ compensation insurance, business auto insurance and business crime insurance for your home-based business.

Make a plan to protect your home-based business

Talking with an insurance professional is the best way to determine if you need additional coverage to reduce the financial and other risks associated with operating a home-based business. Together, you can create a protection plan based on your unique needs such as the location of your business, the number of employees you have, the nature of the products or services you provide, and whether you have clients or customers visiting your business. An insurance check-up is an easy way to ensure that your home-based business remains healthy—and that you, as a business owner, remain protected against any losses. Contact us today to schedule an insurance check-up for your home-based business.

Adrian:  517.265.7000   |    Ann Arbor:  734.971.1000   |   Cassopolis:  269.445.2425

smiling girl with long blonde hair | Kemner Iott Benz About the Author

Chelsea Finch, of Adrian, is a customer service representative with Kemner Iott Benz. In her spare time, Chelsea enjoys spending time at the lake, singing, watching movies and spending time with her family. Chelsea graduated with a Bachelor’s degree from Eastern Michigan University in 2013.

Join the conversation! Connect with Kemner Iott Benz on social media for more insurance tips and tricks!

Facebook | Twitter | Google+

This entry was posted in Business Insurance, Homeowners Insurance. Bookmark the permalink.