Home-Based Business Insurance

Ontario Home Business Insurance

More and more people are operating businesses from their home.  Having your business in your home can be perfect for many reasons, but it can change everything.  Business owners who operate from their homes require a home-based business insurance policy to be properly protected.  This policy is often not very expensive, but it is a wise investment and will protect your business, your home and provide peace of mind. Our Morison Insurance home-based-business professionals will provide insurance tailored to meet your needs.

Your home policy does not cover damages or accidents that occur as a result of performing business operations out of your home.  For this reason, it is important to add a home-based business endorsement to your homeowner insurance policy.

It’s best to speak with an insurance expert to ensure that you have the right insurance for your home-based business.

What is home business insurance?

Home business insurance protects your home business from damages, losses and liabilities that may occur in your home as a result of the business that you conduct. Things commonly covered are your office equipment, client liabilities, and business interruption if your home is ruined and renders you incapable of running your business as you otherwise would.

Who needs home business insurance?

All business owners operating their business out of their home should strongly consider home business insurance. In a home business, equipment can be stolen, clients can sue and damages to your home can prevent you from conducting your business. Don’t let risks like these hinder your growth. Insure your home business so that you can be protected while pursuing your dream.

Important Coverages To Consider

Business Property Protection

Most standard homeowner policies have special limits applied to any contents pertaining to a home-based business. Special coverage can be purchased to ensure the investment you have made into the property pertaining your business including such items as computers, filing cabinets, printers will be protected by selecting a limit to suit your unique business needs.

Business Interruption Protection

In the event that you suffer a loss to your home where your business is operating, and you are unable to continue with normal operations, business interruption insurance will cover the loss of income or profit lost during the period of restoration to repair or restore your home.

Liability Protection

Liability is one of the greatest risks to a home-based business. The personal liability coverage under your personal property policy will not cover liability arising out of business operations in your home.  A client could fall while walking up the steps to your home or you could be sued because of problems with a product or service you provide.  The liability coverage under your home-based business endorsement will provide you with the added liability protection you need.

Where can I get home business insurance?

Speak with a home business insurance expert at Morison Insurance where we can get you multiple quotes from Ontario’s leading insurance companies. Lets ensure your home business is properly protected. Get started today by calling 1-800-463-8074 or by filling out the form on our website.

 

This content is written by our Morison Insurance team. It is provided for general information only. Insurance needs differ from person to person, and this article is therefore not a substitute for professional advice about your individual insurance needs which can be obtained by speaking to one of our brokers.