Insurance for Home-Based Business

In addition to offering liability insurance and a higher level of business property coverage, these policies may provide coverage for other perils including the loss or theft of valuable documents, accounts receivable and business equipment. Some in-home business policies also provide protection against loss of income caused by home damages.

Similar to the in-home business policy, the business owner's policy covers business property and equipment, loss of income, and liability. However, the coverage is offered on a much broader scale.

Some businesses require special insurance. If you manufacture, distribute or sell products, consider product liability insurance for protection against possible claims rising from those using, handling or consuming your products. Healthcare workers, attorneys, insurance agents and others who offer professional services should carry professional liability insurance.

If your business requires you to use an automobile, you should determine whether a separate business automobile policy is advisable.

Finally, if you have any employees, you may need to have a Workers' Compensation policy in place to cover costs resulting from an employee who is injured at work.