1701 Gateway Dr. Ste. 431
    Richardson, TX 75080
    972-480-9878
   

A typical homeowners policy provides only $2,500 coverage for business equipment, which is usually not enough to cover your business property. You may also need coverage for liability and lost income.

If you're a professional working out of your home, you probably need professional liability insurance.

Some types of in-home businesses, such as those that make or sell food products or sell home-made personal care products, may have to buy special policies.

To insure your business, you have three basic choices:
You can add a simple endorsement to your existing homeowners policy to double your standard coverage for business equipment.

The homeowners liability endorsement, typically available only to businesses that have few business-related visitors, is to cover liability in case clients or delivery people get hurt on your premises.

These endorsements are available in most states.

An in-home business policy provides more comprehensive coverage for business equipment and liability than a homeowners policy endorsement.

Not only protect your business property, also reimburse you for the loss of important papers and records, accounts receivable and off-site business property.

Like business interruption, some will pay for lost income due to your damaged home that can't be used for a while by fire or disaster covered. They'll also pay for the extra expense of operating out of a temporary location.

Some in-home business policies allow a certain number of full-time employees, generally up to three.

They generally include broader liability insurance for higher amounts of coverage, like protection against lawsuits for injuries caused by the products or services you offer.

Created specifically for small-to-mid-size businesses, this policy is proper if your home-based business operates in more than one location. A BOP, like the in-home business policy, covers business property and equipment, loss of income, extra expense and liability. However, these coverages are on a much broader scale than the in-home business policy.

However, BOP doesn't include workers compensation, health or disability insurance. If you have employees, you'll need separate policies for these coverages.

If you have a homeowners or renters insurance policy that includes off-premises theft coverage or a personal articles floater under those policies, you may not need it additionally either.
If you are using your car for business, you need automobile insurance to protect you from accidents that may occur while you're on business. Contact your home or auto insurer.