July 2023
When working from home or operating a home-based business, your homeowner or renter insurance is unlikely to be adequate.
Typical insurance coverage for a home offers limited coverage for books, tools and supplies. Depending on the business, home-based operations may require a separate business insurance policy or extension to an existing personal policy.
A large amount of inventory stored in your home is unlikely to be protected against loss due to theft, fire or water damage. If your business includes having clients visit your home, there is increased liability and risk. You may not have protection should a client slip and fall while on your property, or if someone chooses to sue you as part of a business dispute.
Business insurance should be considered by anyone operating a home-based business or working from home.
