How to insure a home business

Are you one of the approximately 12 million Americans currently operating a home business? If so, you may need to review your homeowners insurance. Homeowners' policies provide only limited protection against theft, fire or liability for home business operators.

For example, most homeowners' policies don't cover injuries to customers or suppliers who get hurt on your property. Minimum protection is provided for business records and equipment. And no coverage is included for loss of income or inability to collect on accounts receivable due to damaged or destroyed records.

Here are three ways to purchase home business insurance:

1. In some cases, it may be as easy as adding an endorsement to your existing home policy.
2. Another possibility, depending on the business, is to buy one or more individual policies to cover business property, general liability and business income.
3. Or consider buying a business package policy designed specifically for smaller businesses. It combines the property and liability coverages into a single policy.

Other protections to consider:

• Business auto. If you use your car for business, you may need added insurance.
• Health insurance. If you become ill, who will pay the medical bills?
• Disability insurance. If you're unable to work due to illness or injury, this could be the best insurance investment you make.
• Workers' compensation. If you have employees, this is a must.
• Umbrella policy. An umbrella offers extra liability insurance that kicks in when the limits of the underlying policy are reached.

See also:

• Preparing for Disasters
• Protect your home against wildfire damage
• Four Steps to Fire Safety
• Are you prepared for a Hurricane?
• Home alone - protecting your home
• Power surges: How to protect valuable electronic equipment
• How to handle a kitchen fire
• Know what to do if a hailstorm strikes
• Watertight ways to avert water damage
• What to do after a severe storm

You might also consider :

• Homeowners policies
• Condo/Townhouse insurance
• Mobile/Manufactured insurance
• Renters insurance
• Rental Property insurance
• Second Home insurance
• Home Warranty insurance

Quick Tip # 10

Under-inflated tires are more likely to overheat and possibly blow out at high speeds. They are also more likely to skid on wet roads.