What’s more convenient than having your business snugly incorporated into your home? Many property owners use a particular area of their home to run a business, which can be a great big money saving strategy for the most part. But did you know that your property homeowner’s insurance probably doesn’t cover the business part of your house? Yes, if and when an accident, natural disaster, or theft occurs and causes damage or loss to your business, your property insurance will not cover it. If you really want to protect your startup, you should consider buying property insurance in West Virginia from a company like https://insurancequote.deals/west-virginia-homeowners-insurance-quotes/ for home businesses.
The Truth about Home Businesses and Property Insurance in WV
Many people think that their property insurance in West Virginia will probably answer for the damages and repairs that their home business incurs. While your home business does exist on the same property as your home, this is not a guarantee. At most, your insurance provider might grant your $2,500 USD to answer for any expenses associated with damages or loss to your home business if the equipment is in the home, and up to $250 USD if the equipment lost is off of the premises.
Another thing that you should keep in mind about property insurance and your home business is that any accidents that occur because of your business will not be paid for by your insurance coverage. So if, for example, a delivery boy walks into your property to deliver goods and merchandise for your home business and he manages to slip and fall as he does the job, your insurance will not cover his injuries. In the same way, your policy from here will also refuse to grant you a claim if and when customers manage to injure themselves on your property.
Availing Separate Home Business Insurance
Just as some individuals might get injured in and around your home, they might also incur injury at your home business. It’s also not unlikely for thefts, robberies, and break ins to occur especially if you keep valuable merchandise in your home business. That said, it’s important to make sure that you buy the appropriate insurance for your home business. Depending on what you see as necessary, you can avail of a plethora of different coverage for your home business. You can either avail of this as a separate plan or avail of it as supplemental coverage in your property insurance. Discuss the terms further with your insurance agent to find out what best suits your situation.