Home Business

You’re on the first stepping stone towards owning a business. After a few years of cosmetology school, you’ve finally opened up your own spot from home to start cutting hair. Circumstances led you to start small, so you could work your way up to renting out a bigger space designated for your business. You’ve built up your clientele and you’ve even received a few great reviews on Yelp. But are you sure you’ve taken all the necessary steps to ensure your business runs smoothly?

During your first cut with a new client, you’re discussing styles and length. While cutting his hair, you’re distracted, talking about his homelife, and you nip his ear. As a result, he must get two stitches. You are financially responsible for his injuries.

Some may think that the liability portion of your homeowners insurance will cover the costs of the injuries. This is not always the case.  Often, home business is excluded from the policy, which requires you to purchase a separate insurance policy for your business. If the homeowners policy does cover the injury, there is limited coverage. Should the medical bills exceed the limits, you could be sued for the injury claim.

For a small claim like the one described above, you’d probably come out okay. But there are numerous other ways someone could get hurt more severely on your property. There are other reasons you’d need to file a claim. If you are opening a business from home, here are some ways to help you decide if you need to purchase business insurance.

IF you. . .

Have foot traffic, or clients come to your home

Have expensive inventory and supplies at your home

Have employees working for you

Do not have a back-up place for your business if there is damage to your home

. . .  then you should consider a business policy.

Always contact your Insurance agent for any changes in regards to your home.

By: KayLynn P.


Do you have questions about your insurance? Find an insurance agent near you with our Agent Finder

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Search All Blogs

Search
Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

Buzz Your
Insurance Agent

Search for a local agent with our agent finder map.

Agent Finder

Want to learn more about
our blog writer?

Read more about KayLynn's background.

Search All Blogs

Search
Generic filters
Exact matches only
Search in title
Search in content
Search in excerpt

What Amount Would You Sue For?

What is The Value You Place on the Life of a Loved One?

Why is Life Insurance Least Expensive for Those Who May Need It Least?

Why the Young and Healthy May Need Life Insurance

The Value of Resilience and Flexibility

Recent Years Have Demonstrated th Value of Versatility

How Long is…?

The Clock is Ticking But do You Know What it Means?

Mr. Cheapo’s Bootcamp

Feeling Squeezed by Monthly Bills?

Common Fears and How to Overcome Them

Do You Have a Fear or a Phobia?

The National Death Index: The Ways We Die

Yes, Our Country Has a Death Index of the Most Frequent Causes of Death

Mathematics, Statistics, Odds and Life Insurance

The Odds of Certain Events Happening in Your Life

The ABC’s of Policy Loans

Learn More About This Potentially Valuable Feature of Your Life Insurance Policy

Keeping Important Documents Safe

Keeping Critical Papers in Their Place