In today’s growing work-from-home culture, entrepreneurs and small business owners are operating their entire businesses from the comfort of their own homes. In the past, these home-based businesses may have been underestimated or discounted as less successful. Today, running your business in your pajamas at home is applauded, and doesn’t mean you aren’t running a real business.

Home-based businesses can see just as much growth and success as any other business. This also means a home-based business needs to prioritize its business insurance coverage in the same way any other business would. 

As a home-based business owner, it is important you know that your homeowner’s insurance or renters insurance will not extend to cover your home-based business. If you run a home-based business it is important you work with a business insurance agent near Springfield, Ohio to be sure your insurance needs are covered through business insurance. 

The exact types of business insurance coverage you need for your home-based business will depend on your business and the industry you work in. Depending on your business you may need to consider the following business insurance options:


  • Business property insurance – This type of insurance coverage will protect any equipment you use for your home-based business. This could include computers, fax machines, printers, furniture, and any other machinery you use to conduct business. Many business owners assume their homeowners insurance will cover these items but when they are used for business, that may not be the case which is why you need business property insurance. 


  • Liability insurance – This type of insurance coverage will be applicable if you have clients and any other visitors come to your home as part of your business. Liability insurance protects you and your business from being liable for damages caused to another person or property.


  • Professional liability (acts coverage) – Similar to professionals working out of their homes, professionals working inside their homes need professional liability insurance. If you’re a consultant or working professional, professional liability insurance can protect you against potential negligence or failure to deliver claims made by your clients (or patients).


  • Product liability coverage – if your home-based business is creating any kind of products for your customers you could benefit from product liability coverage. This will protect you in the event someone is injured or property is damaged by a product you designed, manufactured or supplied.


  • Business automobile coverage – If you need to make (or pick up) deliveries, visit clients or otherwise use a vehicle for business purposes, your personal auto policy won’t cover the business use of the vehicle. Instead, you’ll need business automobile coverage, which will provide coverage if you are in an accident.


There are many other insurance coverages you may need to consider for your home-based business. To assess your needs, contact Link-Hellmuth Insurance. You will likely benefit from a combination of a few policies, which can help you choose a bundle for less!