Ask a lot of questions to determine the amount and type of insurance your business needs, says Amy Gergely of the IIAA. Start with these:
- What inventory do you have at home? How much equipment? How much would it cost to replace them?
- How many customers come to your home?
- What would happen to your business if a disaster forced you out of your home temporarily?
Read the fine print on your homeowners policy to find out the restrictions on business property and activity in the home. "Get quotes from a number of companies," says Gergely. "The average independent insurance agent represents eight companies."