Do you operate an at-home business?

Homestead Insurance and Financial Services

Today more than 43 million Americans are operating full- or part-time businesses from the comfort of their homes, and these numbers continue to grow every year. One of the secrets to running a successful home-based business is being able to separate your business activity from your home activity.

Whether you spend two hours or 62 hours per week on your at-home endeavor, it remains a business with all the risks and rewards associated with owning a business. To safeguard against the risks, you need to be aware that your homeowners insurance policy offers limited or no protection for your business while it is being operated from your home.

If you rely on your homeowners policy as your only means of insurance protection, you may find your business underinsured or uninsured in the event of a loss.
Homeowners policies were never intended to cover business exposures. Consequently, coverage for the items you use in your business such as computers, fax machines, filing cabinets, tools, inventory, etc. are limited under most policies. And your homeowners coverage likely provides no liability insurance for your home-based business. Remember that in order for any business to be successful it must be run like a business, regardless of its location.

A crucial element in business success is the ability to minimize risks which can be accomplished with a comprehensive insurance program. Check with your insurance professional for the best business coverage for your in-home business.

Steve Rehm

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