Over the past several years, the emergence of Home Based Business has increased significantly. Operating a small business from home can be a wise and expense saving decision, but it can create costly gaps in your coverage, unless you take measures to have it protected.
Your Homeowner policy may only provide a small amount of coverage of only $2,000 – $2,500 coverage and only if the items are in the home. This low limit is usually not enough and any items like laptops or cell phones away from the home are not covered. You also need other important protection such as liability coverage and business interruption.
To insure your business, there are several options. An endorsement adding some coverage onto the Homeowner insurance policy is available for some businesses. If required, a Home Based Business policy can usually be added to a Home insurance policy. For about $200 to $300 you can get contents, liability and business interruption coverages tailored specifically to your needs.
Feel free to contact one of our Home Based Business professionals at 204-452-4913 or visit our site at www.pembinainsurance.com