In-Home Business Insurance in Universal City, TX and San Antonio, TX
It’s Not Just Your Home. It’s Your Living.
Operating any business requires various risk management and loss control practices, and this includes home-based businesses. Companies running out of a residential property may require robust insurance portfolios, and decision-makers should know about their coverage needs.
Who Needs Home-Based Business Insurance?
Most home-based businesses should acquire additional insurance beyond a standard homeowners policy. Without additional coverage, certain commercial aspects of your business may not be protected, and you could be forced to pay for various losses and damages out of pocket. The need for additional business coverage may be particularly prevalent if you conduct the following:
- Welcoming third parties, such as clients or customers, to your home
- Storing inventory or supplies at your residence
- Hosting employees at your home
- Maintaining client or employee records on personal devices
What Is Home-Based Business Insurance?
- Needing access to your home to avoid business interruptions or lost revenue
There may be a variety of business insurance policies you may need if you run a home-based business. Some of the coverages you may need could include a combination of the following coverages:
- General liability—This coverage can assist if your business is held legally or financially liable for injuries, harm or damage to another party or their property.
- Commercial property—Although your homeowners policy may include your personal possessions, additional protection may be necessary to insure various business property, such as inventory or supplies.
- Workers’ compensation—This coverage can provide crucial financial assistance if an employee develops a work-related illness or is injured while conducting their duties. It may also cover injuries or illnesses suffered by sole proprietors who could be denied coverage by health insurance.
- Professional liability—If your business is accused of providing improper or negligent services to a client or partner, this coverage, also known as errors and omissions insurance, can insulate you from resulting damages.
- Business interruption—This coverage can help pay for various expenses that may arise from an interruption of your company’s normal operations, such as payroll, lost income and temporary relocation.
- Commercial auto—This coverage protects your companies from damages involving motor vehicles being used for business purposes. Home-based businesses must understand that a personal vehicle insured by a standard auto policy is not generally covered if being used for commercial means.
- Cyber liability—If your business experiences a data breach or cyber incident, this coverage can help pay for various resulting expenses, including notifying affected parties, fraud monitoring services and restoring compromised systems.
Get the Right Coverage
Home-based businesses need to ensure they have an adequate insurance portfolio. Even if you already have a robust insurance policy for your residence, running a home-based business means additional coverage will likely be necessary.
The agents at Truststar Insurance Services are prepared to help. Our experts have the knowledge and experience to help home-based businesses in the Universal City area understand their insurance needs and acquire optimal coverage. Contact us today to get started.