Insurance Considerations for Home-Based Businesses

Do you find the prospect of working at home in your pajamas attractive? Perhaps working on your laptop by the pool is more appealing. The internet and other electronic communications technologies have made working at home possible for more people in the last decade. If you operate a home-based business in New Jersey, it is important that you make sure you have the right insurance coverage for financial protection against accidents and other disasters.

It’s a mistake to assume that your homeowner’s insurance policy will cover your home-based business. Typically, homeowners’ insurance allows very limited coverage for business equipment in the home. Also, standard home policies generally offer no coverage for business liability issues such as a customer tripping, falling or otherwise getting injured at your home.

The type of business insurance you need is dependent upon the type of business you operate. Should you make products in your home that could potentially injure or sicken someone, you may need product liability insurance. If you dispense advice, or offer consultation services, your business may call for professional liability coverage. Our agent can help you find the right insurance for your New Jersey home based business so speak to us today to find out more.