When you run a business out of your home, you may believe your homeowners insurance protects you. If something unfortunate were to happen regarding a client, however, you'd likely discover your personal insurance doesn’t cover business losses. This is where home-based business insurance bridges the gap in coverage. Below are some of the coverage types you should consider and how they protect you.

What Home-Based Business Insurance Do You Need?

Property Coverage

Homeowners insurance covers many types of property you utilize for both your personal and business use, such as computers, printers, cell phones, and the like. However, losses to your business's digital equipment may very well exceed your home policy's limits. Additionally, a personal policy won't cover other losses, such as inventory, materials, and manufacturing equipment. To protect those, you need home business insurance.

Liability Coverage

As a business owner, you need several types of liability coverage for protection if you cause an injury or damage property. Your home insurance will cover general liability claims if family or friends visit and fall down your steps, but you need business insurance in case a client does the same.

If your business sells or makes products, you should also consider product liability insurance in case one of your products injures a customer. If you run a legal, accounting, or consulting business, you need professional liability coverage to guard against errors or omissions you make in a professional capacity.

Vehicle Insurance

As with home insurance, your personal auto insurance policy won't cover losses that are incurred while doing business. For instance, if you use your car, truck, or van to deliver products, to transport equipment, or for livery purposes, you need to buy commercial auto insurance to fully protect yourself. 

To discuss the best ways to insure your home-based business, contact Farm Bureau of Mebane-Caudill Agency in Mebane, NC. They have served clients in and around Alamance County for more than 20 years. In addition to small business insurance, they also offer auto, home, health, and life insurance, as well as estate planning. Jonathan Caudill, Alan Wilson, Jay Lee, and Eric Michaels will work hard to build a policy that meets your unique needs. Get a quote online today or call (919) 563-3276 to discuss your coverage goals.