Does Your Business Have The Coverage It Needs?
More and more businesses are being run out of people’s homes. In fact, the Small Business Administration reports that over half of American businesses are based out of their owners’ homes. Consequently, we feel it is important to let California business owners know that if they are running a home based business, they need to consider their insurance coverage.
Many of today’s entrepreneurs assume that because they are operating out of their homes, their homeowners insurance coverage is sufficient to protect their business. In fact, that is often not the case. Standard homeowners insurance policies specifically exclude business coverage. That means that if you experience lost data after a home fire, lost income if you are unable to work out of your home office while you rebuild, or liability because someone’s personal information was lost in that fire, you would be left exposed!
Fortunately, your insurance agent can work with you to get the coverage you need. You have a couple of options. First, you can see if a rider to your existing homeowners insurance policy would offer you the protection you need. This type of extension to your existing coverage can protect you at a low cost.
If a rider is not sufficient, a business owner’s policy can step in, bundling the business insurance you need into one convenient package. With this type of coverage, you can rest easy knowing that your business has the right protections in place.
Talk to your insurance agent to get a clearer understanding of the kind of coverage you need for your home based business. You have worked hard to grow your company, and deserve to have an insurance policy that reflects that. For all of your business insurance needs in Westlake Village and the rest of California, contact Udell Family Insurance today.