Home-Based Business Insurance in San Antonio, TX & Austin, TX
A home-based business is just what it sounds! You are running a business from home, and we are no stranger to telling self-employed business owners that they should consider home-based insurance coverage to protect their company and assets. Many home-based business owners believe that their homeowner’s insurance will also protect their company. But while a homeowner’s insurance policy protects their home, it may not provide adequate protection on insuring their home-based business. As a result, they will need a specialized, business insurance policy.
Business insurance for a home-based business is essential for many reasons. This specialized policy can help cover the costs of legal claims made against a business. Without it, your company may be liable for a claim or lawsuit, which means you would have to pay all the legalities out-of-pocket!
Do I Need Home Business Insurance?
For all the home-based business owners out there, you need to ask yourselves a few essential questions including:
- Do customers or clients come to my home?
- Do I keep inventory or supplies in my home or at off-site job locations?
- Would I lose income if I had to close my business because of damage to my home?
- Do I have employees working in or outside of my home?
- Do I maintain client or employee records on my computer?
- Do I sell handmade products or produce at a farmers market?
- Am I a home-based food business?
If you answered “yes” to any of these questions, you may want to review your type of coverage and coverage limits.
Without the right coverage, your business could be responsible to pay out of pocket for:
- Property damage
- Employee injuries
- Issues related to data loss
Home-based businesses can range from small consulting practices, farmers market vendors, to larger retail operations.
Your Home Business Insurance Policy can include…
- General Liability Insurance – This insurance is often combined with property insurance in a standard Business Owners Policy.
- A Business Owner’s Policy – combines business property and business liability insurance into one business insurance policy.
Examples of Businesses That May Need Home-Based Business Insurance
- Home Baker.
- Dog Walking and Boarding.
- Personal Fitness Trainer.