Does Your Home-Based Business Need Insurance?

Your home-based business is something that you hold dear. Do you have the right business insurance for your home business?

According to research done by the Small Business Administration, over half of the home-based businesses in the U.S. are based right in the owner's home, with more being added every single year. Many of those entrepreneurs falsely think that their homeowners insurance will cover them in case disaster strikes, but the reality is that very few homeowners insurance policies offer coverage for home-based businesses. Here are a few tips you should use to help you gauge if you need a home-based business insurance policy.

Signs That Indicate Your Need for Coverage

• Does your homeowners insurance include business equipment damage? The best way to tell if you need a business policy is to check if your home insurance policy covers damage done to business equipment or the sensitive data. Even if it does, you have to measure how much coverage you have and if it is enough for your business.
• Do employees or clients visit your home? If you have employees or clients that visit you frequently, there always looms the possibility of injury. And if their visit was business-related, your home insurance will not cover those injuries.
• Do you have an office but work from home regularly? In this case, you may want additional coverage in case you get injured or something happens with your business equipment.
• Do you keep sensitive information and data at home? If you store sensitive information in your home and it gets damaged, your home insurance likely won't cover it, as it is business-related.

Your business deserves to be covered, no matter its size. To find the right business insurance that will protect and cover your company, be sure to contact Scavone Insurance Agency Center LLC, located in White Plains, New York!