An Insurance Dilemma: What If Your Home and Business Space Are One and the Same?

Home Office Insurance in San Diego, CA

Many people running their own businesses find it convenient to operate out of their homes. Amongst other benefits, they can save money on renting a commercial space and remain in the comfort of their own living space. However, there are a few insurance issues to take into consideration.

What Does Your Current Home Insurance Policy Look Like?

Before starting off on this venture, it is important to check your current insurance policy to see exactly what is covered. In all but a few rare instances, home-based businesses are not covered by home insurance in San Diego. Some of these policies even make a stipulation that they will be voided if the homeowner carries out business from their home without additional coverage.

Are There Additional Risks?

You may need commercial insurance in San Diego for your home business because there will be new risks on your property. Even smaller businesses often have quite a few hidden risks ranging from damaged equipment to an injured client. All of these risks must be taken into consideration when crafting a new commercial policy or adding a rider to an existing policy.

Do You Need a Rider or Commercial Policy?

An insurance rider is additional coverage for an existing policy. In the case of a home-based business, a rider could be added to the homeowners insurance to extend coverage to business assets and some very basic liability issues. As your business continues to grow, you may need to consider a full commercial policy. A business owner policy (BOP) is a form of insurance that bundles all of the coverage a small business owner will require such as liability insurance and property insurance.

Should You Add Liability Coverage?

Liability coverage is something all business owners will need to consider early on in this process, and is generally seen as the first line of defense if any accidents or injuries take place on a property. This coverage is especially important once you have hired any employees or if you plan on bringing clients into your home.

Make sure both your home and business are protected with the right insurance. If you have questions about combining homeowners insurance with commercial insurance, call American Tri-Star Insurance today at 619-272-2100. One of our friendly agents would be happy to answer your questions and provide a free quote.