We all have friends here in the New Hartford, Whitesboro, Clinton, and Utica Rome area that own their own businesses and run them from home. There are life coaches, graphic designers, and content marketers that we know all with home offices.
The World Wide Web has made this easier than ever. In fact, we get internet marketing help locally from a firm that is also a book publisher. He’s published 15 titles, sold over 35,000 copies with eight still in print, and has done it all from his office at home.
The Web is so powerful that individuals working from home can compete with much larger companies for audience and for customers. Here at Scalzo, Zogby & Wittig we welcome that entrepreneurial spirit in Central New York and applaud those who can make it on their own.
Discover Home Business Insurance For Less
We discussed in an earlier post the danger in counting on your homeowners insurance policy to respond to property damage or liability lawsuits as a result of business pursuits. For the most part, except for some business property coverage, your homeowners insurance policy will not respond to a business loss at home.
But you don’t have to worry, we have you and your business covered. It’s added on to your homeowners insurance policy and it’s called Home Business Insurance Coverage.
One of the great things about this endorsement is that it adds coverages, especially for liability, for risks that every business exposes itself to every day. Risks such as products already sold that cause bodily injury or property damage to others, business income while the enterprise gets back on its feet after a major property loss, and property away from the home in amounts much larger than the automatic limits.
So, let’s take a look at this easy to add business endorsement.
What You Get with a Home Business Insurance Endorsement
Whether you’re an individual, joint venture, partnership, or corporation, you can designate your home and another structure on your premises as an insured location. For example, your office may be in a room off the den and your product might be stored in the garage. In this case, we would list both locations in the policy.
You also get:
- Up to 10,000 of coverage for contents away from the premises
- Business Liability at Twice Your Homeowners Liability Limit
- Products/Completed Operations Liability at the same limit as your Homeowners Liability
- Medical Payments Liablity
- $5,000 Accounts Receivable
- Business Income during the restoration period because of a loss to the premises
- Extra Expenses you incur during the restoration period
- $2,500 Valuable Papers and Records
You may be operating a business that is larger than intended for this Home Business Endorsement. In that case, we can look into a Business Owners Package policy or separate Commercial Property and Liability policies.
Thing is, if you own a home business you don’t have to worry. Just give us a call and we’ll talk about how we can protect you so you can enjoy your business and continue to make money even if an accident does happen.
Until next time,
Your SZW Team
Scalzo, Zogby & Wittig, Inc. is your New Hartford area independent insurance agent. Call us for a quote on insurance for your home, car, business, or life at 315.792.0000.