Archive for July, 2017

Home-Based Businesses Are On The Rise

Posted on: July 18th, 2017 by Agent Mark No Comments

homebasedbusiness

The number of home-based businesses in the northeast is now estimated at 1.5 million and growing.

It is not a surprise, with low startup costs, flexible hours and internet access fueling the growth of many home-based businesses. For many, the thought of eliminating their commute and making their own work hours are very attractive employment benefits.

For some people, their home business supplements their primary income. For others, it brings in enough income to make a full-time living.

Whether your home-based business is a side business or your primary income source, it is important to review the “insurance aspects” of your home-based business.

Your home insurance policy does not provide coverage for business property or your business liability.

Here are a few claim examples we have seen over the years:

• Stolen inventory at a trade show.

• A fire at home destroys business property and inventory.

• A customer slips and falls at an event sponsored by you.

• You host a pop-up party promoting your business, alcohol is served and an invited guest has a car accident on their way home and looks to you for property, medical and lost wage damages.

Its good business to check that your business insurance is providing the coverage most important to you.