Home-Based Business: Why You Need a Separate Policy

Business Man In Suit Having Miniature House On Palm Of His HandIf you are running a home-based business, you probably assume that your homeowner’s or renter’s insurance has got you covered. However, homeowner’s and renter’s policies cover very little for business equipment and does not support liability coverage, lost data, or lost income in the workplace if such events occur. What’s even more surprising is that many business-owners based in their homes do not know that. According to the Rocky Mountain Insurance Information Association, the majority of home-based businesses are underinsured.  To insure your business, you have three basic choices, depending on the nature of your business and your insurance provider. [Read more…]