Insurance for your home-based business
12/21/2011 1:00:00 PM
Thinking of running a business from home? Starting a home-based business can be a great way to maintain your work/life balance. No more commuter stress, office politics or the tyranny of someone else’s schedule. There are a few things to be aware of before you get underway, including how your new venture may affect your Pennsylvania home insurance.
Your insurance requirements will depend on the nature of your business. Perhaps you have a business that can be run from a computer in your home, using an existing home study or spare bedroom that you convert. All you need is a good Internet connection and telephone. Not having to make any substantial changes to the fabric of your home means that your current homeowners policy might be adequate for your needs.
If your business requires substantial changes, perhaps the conversion of a freestanding structure on the property or the use of expensive equipment, you may need to consider a different approach. The same can be said if you regularly have client visits to your home or if you provide consultancy services, as these may increase your liability coverage needs. In this case, you might be wise to look into a business owners policy, which can offer a package deal and a range of small business specific coverage.
Ask your Pennsylvania home insurance agent for information and quotes for insurance options that might be suitable for your new business. Your new venture could provide you with a sustainable work/home balance that will be better for you and your family. Make sure you have the right financial protection so that you don’t risk all your hard work.
Your insurance requirements will depend on the nature of your business. Perhaps you have a business that can be run from a computer in your home, using an existing home study or spare bedroom that you convert. All you need is a good Internet connection and telephone. Not having to make any substantial changes to the fabric of your home means that your current homeowners policy might be adequate for your needs.
If your business requires substantial changes, perhaps the conversion of a freestanding structure on the property or the use of expensive equipment, you may need to consider a different approach. The same can be said if you regularly have client visits to your home or if you provide consultancy services, as these may increase your liability coverage needs. In this case, you might be wise to look into a business owners policy, which can offer a package deal and a range of small business specific coverage.
Ask your Pennsylvania home insurance agent for information and quotes for insurance options that might be suitable for your new business. Your new venture could provide you with a sustainable work/home balance that will be better for you and your family. Make sure you have the right financial protection so that you don’t risk all your hard work.
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