There are many home-based businesses in Maine. While these businesses range in type, over 60% of them have something in common—they lack adequate business insurance, putting the owner, the employees, and the owner’s family at risk.

It’s easy to overlook the need for business insurance, particularly because you already have your home insured. However, most renters and homeowners policies do not extend to the home-based business.

Whether your sales are less than $5,000 or over $100,000, being uninsured can cause major problems for your business and your family. Without proper business insurance, your homeowners policy may not protect you in the event of:

• Loss of inventory due to fire
• Injury to a customer or vendor on your property
• Injury to any employees during their work time
• Business disruption due to a fire

Determine your risk. Ask yourself the following questions:

• Do you use specific equipment, including computers or phones, for your business?
• Do you use space in your home for running your business?
• Do you keep inventory in your home?
• Do customers, vendors, or employees visit your home?
• Do you keep data related to your business or your clients in your home?

If you answered yes to any of these questions, then it is time to call your United Insurance agent!

Protecting your home-based business doesn’t need to break your bank account. Sometimes a simple rider or endorsement for your existing homeowners policy is all it takes. As your business changes and grows, you can add additional coverage as needed. The important thing is to keep your United Insurance agent informed about the business use of your home!

As always, when something in your life changes, let us know! A quick chat with your insurance agent is all it takes to confirm you have proper coverage.