A BayRisk, we help thousands of small businesses. Helping small businesses often means helping home based businesses. When you have little or no employees, why spend a fortune on office space when your job probably allows you to work from home? Working from home is great; we encourage it! However, we are often met with objections on covering business contents because these home based business owners and consultants think their homeowners policy covers them for their business contents.
Most common homeowner policies have a limitation on business owned contents of $2,000. If you have a new laptop loaded with software and a decent home office with desks, chairs, printers, etc. that were purchased with company money, you will not have enough coverage in case of a loss. Also, if you are traveling there might be limitations or no coverage for your laptop.
Most Business Owner Policies (BOPs) will cover business contents for a very nominal charge. A one person operation can likely purchase a BOP for about $500 per year vs. just buying liability for $425 per year. $75 seems like a very small price to pay to avoid any gaps between your homeowners policy and your Business Owner Policy. Also, most small BOPs carry a low deductible of $250 or $500 per year and most homeowners policies will have a $1,000 deductible.
You can get a quote from us and our trusted insurance carriers that can include your business contents for your home based business. Think seriously about protecting your contents and contact us if you have any questions about properly protecting your business in general.