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Covering Home Base

Insuring your homebased business is easier than ever.

This story appears in the March 2005 issue of Entrepreneur. Subscribe »

Not many years ago, getting proper coverage on a homebased business was challenging and expensive. But insurance companies have now responded to homebased businesses' needs with a variety of flexible products to provide appropriate, affordable coverage. You have three basic options for insurance, says Loretta L. Worters, vice president of the Insurance Information Institute.

First, you can buy an endorsement to your existing homeowners policy. Standard homeowners policies provide minimal coverage (usually about $2,500) for business equipment and include no other business coverage. An endorsement increases your business property coverage, and the cost is nominal.

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