Is your home-based business actually covered?

Run a business from home — social media manager, seamstress, translator? Your home insurance might cover your work… or it might not. Here’s what you need to know to be sure you’re protected.

Your basic home policy covers a lot — your personal belongings, and some of the business property you keep at home. What it may not cover: stock, IT and specialized gear (that lovely 3D printer!), or civil liability tied to your work. The good news is there’s coverage built for exactly this.

Does your home insurance cover you, or not?

The surest way to find out is to ask your broker. Your home policy does include some coverage for business property — but it’s limited. Adding home-based business coverage can be well worth it: it protects your business property for anywhere from $10,000 to $50,000, and it includes civil liability coverage.

Is business insurance the better fit?

Need broader, more flexible coverage built around what you do? That’s business insurance. It covers every part of your operation — the building, the furniture, equipment, inventory, business interruption (for lost income), breach of confidentiality, and your company’s civil liability.

Do you need civil liability insurance?

This one’s especially handy if clients come to you. It covers bodily injury or property damage to third parties (your clients) on your premises (your home), or caused by your products or services. Say a client slips on your icy driveway picking up an order and decides to sue — your civil liability insurance covers the legal costs.

Should you protect against errors and omissions?

For fuller protection, look at professional liability insurance — often called “errors and omissions.” It covers you when a mistake or oversight leads to injury or financial loss. A very practical option in fields where lawsuits are common: law, accounting, architecture, engineering.

Want to dig deeper?

Looking for the best coverage for your situation? Give your broker a call today — together, we’ll find the package that fits like a glove.