How To: Insure Your Homebased Business.

Cover Your Assets

Just because you have insurance doesn't mean you want to use it. Take steps to protect yourself from losses. "We ask our clients to do common-sense things like installing surge protectors and uninterruptable power supplies for their computers,' says Brian Haase of Safeware, The Insurance Agency Inc., in Columbus, Ohio. Here are some other steps you can take:

Crime and disaster prevention:

  • Install smoke detectors, fire extinguishers and deadbolt locks.
  • Install motion-sensitive outside lights.
  • Keep your office equipment out of view from the street.
  • Keep money and important documents in a fireproof safe.
  • *Develop a disaster recovery plan to minimize losses and return to normal operations quickly.

Accident prevention:

  • Make sure electrical circuits aren't overloaded.
  • Keep stairs and walkways free of ice and debris.
  • Set and enforce safety rules.
  • Practice preventive maintenance on all equipment.

Liability prevention:

  • Make clearly labeled backups of important documents and store them at another location.
  • Don't accept work assignments you aren't qualified to perform or make promises you can't keep.
  • Read the fine print in contracts to avoid assuming someone else's liability. Have an attorney review contracts.

Contact Sources

Hanover Insurance Co., (508) 855-2105, jheffernon@allmerica.com

Independent Insurance Agents of America Inc., (800) 221-7917, http://www.independentagent.com

Toni Korby, c/o Antonia Korby Design Inc., (703) 502-9483

RLI Insurance Co., (800) 526-1754, blundber@rlicorp.com

Safeware, The Insurance Agency Inc., (800) 800-1492, ext. 2021

Janie Williams, c/o Janie Williams & Associates, (562) 430-8240, fax: (562) 598-0315

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This article was originally published in the May 1998 print edition of Entrepreneur with the headline: How To: Insure Your Homebased Business..

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