Starting a new business from home comes with its risks, but they shouldn’t deter you from capitalizing on your entrepreneurial spirit. To make sure you’re covered from the unexpected, business insurance can go a long way, but it’s essential to find the policy that works best for your company’s needs.

Coverage Options for Your Home-Based Business

1. Homeowners Policy Endorsement

This option is the most affordable coverage for a business owner. An endorsement, also known as a rider, can be added to your existing homeowners policy to protect your business equipment. There are also options to cover you if someone, like a delivery person, is injured on your property. Policy endorsements work best for small businesses and solo entrepreneurs that need minimal business insurance. 

2. In-Home Business Policy

An in-home business policy groups home and business insurance into one plan. It offers more specific options for coverage that best fit your individual needs, especially for businesses that are growing to a mid-level operation. With more comprehensive provisions to protect business equipment and liability, this business insurance works for in-home companies that have in-person visits with customers, deliver their products to customers from their home, or have designated spaces in their house for work like a home office or production space. Some policies will also include business disruption coverage, which protects your livelihood in the case of a major event halting your business, such as a natural disaster.

3. Business Owners Policy

Larger home businesses will need this coverage, also known as a BOP. It offers the same business insurance as an in-home business policy, but a BOP has additional protection for issues like contractor-, customer-, and employee-filed claims. Other additions can include data compromise coverage for businesses at-risk of cybersecurity breaches and key person insurance, which acts as a life insurance policy for the founder or the key employee without whom the company would fail. 

If you’re unsure of which coverage is best for your in-home business, a trusted agent can point you in the right direction. Bradford Hegler - State Farm Agent, supports the small business community of Villa Rica, GA, with insurance services custom-made for the unexpected twists and turns of an entrepreneurial venture. As a lifelong resident of the Carroll County area and an experienced insurance agent, Mr. Hegler relates to his clients and assures that they get the best coverage at a reasonable price. For more information about the various policies he offers—including health, homeowners, and business insurance—call (770) 456-4000, contact him at State Farm Insurance, or stop by the Stone Street office.