Small or Home Business Insurance – Everything You Need to Know

Small or Home Business Insurance – Everything You Need to Know

Article by John Newcomb

A topic that is sure to bring out snores and yawns is insurance. Few people understand it, and even fewer like to take out the time to understand it. Small and home business owners are no different. These people, usually well versed, often experts in their own field, will shirk away from truly comprehending if they need small or home business insurance. The end result is that a lot of them are either under covered (more likely) or over covered (less likely). Either way, they are exposing themselves to financial loss that can result in a catastrophe.

Small or home business insurance can cover every aspect of your business. It can cover your business property – the premises from which you carry out your business, along with the tools and equipment used for it. If you are working from home, your homeowners insurance will provide adequate property coverage in most cases. However, if you have any specialized equipment (high end scanners/printers, stock if you sell on eBay, high end computers, etc.), your homeowners insurance will likely not cover it.

Next, there is business liability insurance. This covers you under any liability claims that occur at your business premises. For instance, an eBay customer comes over to your house to pick up an item, slips on the front porch and breaks a leg. Under existing laws, you would be required to provide coverage for the