Coverage for Home-Based Businesses
As someone who works from home, you may not think that you need special coverage for your business. And while home-based business coverage may be available through your homeowner's insurance company, it might not provide enough – or the right types – of coverage to protect you from the risks you face.
Depending on your policy, you might be lacking coverage for:
- Business equipment or inventory losses.
- Your garage or other detached structure if used primarily for business.
- Clients who come to your home for business purposes.
- Damage caused by you or your employees.
- Business-related losses that occur away from your home office.
Something else you might want to consider: Homeowner’s policies don't typically cover data breach losses, which are becoming more common every day. In addition, you could be left vulnerable if you lose income because you are not able to use your home office due to a fire or other unexpected loss. And it is likely you're not covered for lost or damaged business records.
That's why you should talk to your insurance agent or a representative from The Hartford to find out whether you need additional coverage for your home-based business.