Home Business Insurance in College Station Texas

Today there are more businesses operating from an individual's residence than ever before, making for an increasing number of individuals working from the comfort of their homes. Running a business from home may be more cost-effective and convenient; however, business owners still need the right home business insurance as most standard homeowner insurance policies do not cover equipment used for business purposes. To ensure all commercial equipment is well protected in case of a loss, business owners must get the right coverage from a home business insurance agency.

Insurance Options for Home Based Businesses

A standard homeowners insurance policy is written to protect personal property, not items used to generate income. Depending on the type of business performed in the home and the equipment used, home business owners can protect business equipment in two different ways:

  1. Business Property Endorsement To Homeowners Policy - This is the most basic form of home business insurance coverage. This type of policy is in the form of an endorsement added to a standard home insurance policy to cover home business equipment for an additional fee. Coverage limits are generally low, so it is important to that additional coverage will be enough. If not, the recommendation is to purchase a regular business insurance policy from a home business insurance agency. It is also important to know that this type of policy endoresement only covers businesses without customers coming to the home.
  2. Separate Home Business Insurance - A regular business insurance policy is the preferred option for insuring a home-based business with more than a minimal amount of equipment to cover. A regular business insurance policy also offers a number of other important benefits that some home business owners may need. General business insurance provides business liability insurance, which is important for home businesses that welcome customers to their business location. Some types of home business may require specific liability coverage, like tax preparation services, child or pet care services, salon services, and other service businesses.

Other Important Benefits with Home Business Insurance

Besides covering business equipment and providing necessary liability insurance, home business insurance offers other types of coverage that many people may be aware is available to them. Some business insurance policies offer loss of income coverage, either included or as an additional rider. This can be extremely important for small, home-based businesses if there is loss of equipment that prevents income production or even an illness that prevents the business owner from working. This can be especially important for small business owners who do not have the option of disability insurance on their health insurance policies.

One important fact that home business insurance agencies generally emphasizes is that vehicles used for business purposes require their own insurance policies. Business insurance itself does not cover vehicles and most personal auto insurance policies do not cover business usage of a personal auto.

For any business owner whose main income is generated through their home-based business, appropriate home business insurance coverage is a must. Coverage for business equipment as well as liability and loss of income insurance will ensure that a home-based business is well-protected like any other business. To learn more about the appropriate coverage for a home business, business owners should contact a local home business insurance agency to discuss their needs!

Need Home Business Insurance In College Station?

Let Jones & Associates Help You Find The Coverage You Need!

Call (979) 599-7532!