Home-based Business Insurance
Certain industries lend themselves well to being home-based businesses. These businesses can include art or photography studios, salons, and professional services like accounting to name a few. Having a home-based business can save money in terms of overhead like rent, expensive internet packages, and potential city licensing fees.
Another perk of having a home-based business includes having some business equipment covered under your homeowner’s insurance policy. Equipment like computers, software, etc. may be covered under a homeowner’s insurance policy, but that is where the insurance coverage ends. A homeowner’s insurance policy will not cover situations like negligence, libel, injury or assist with legal defense costs for an incident relating to your home-based business. Luckily, there are many insurance options for home-based businesses. Let the licensed insurance professionals at Heaton Bennett Insurance in Austin, TX assist you with creating a custom business insurance package for your budget and needs. Heaton Bennett Insurance offers the following business insurance coverages:
- Business Owner’s Policy (BOP)
- General Liability
- Professional Liability
- Workers’ compensation
- Commercial Auto
- And More!
Frequently Asked Questions
Does homeowners insurance cover a business operated from home?
Homeowners insurance may provide limited or no coverage for business property, liability, or professional services. A separate business policy or endorsement may be appropriate depending on the type and size of the operation.
Can business equipment kept at home be insured?
Coverage may be available for eligible computers, tools, inventory, furniture, and other business property. Texas home-based business owners should document their equipment and review applicable limits with an agent.
Does having customers visit my home affect my insurance?
Customer visits can create business-related liability risks that may not be addressed by a standard homeowners policy. Business owners should disclose how often customers, vendors, or employees come to the property.
Can a home-based business obtain professional liability insurance?
Professional liability coverage may be available for certain claims alleging errors, omissions, or negligence in provided services. Working from home does not eliminate professional exposure.
Do online businesses need cyber liability insurance?
An online business may face risks involving customer information, payment systems, websites, email, and digital records. Cyber insurance may be available for certain costs or liabilities arising from qualifying cyber incidents.