What Kind of Insurance Do Home-Based Businesses Need?

The type of insurance you need depends on the nature of your business. Here are a few common options to consider:

1. Home-Based Business Insurance Endorsement

Some insurers offer an add-on to your existing homeowners policy that extends limited coverage for business-related activities. This can be a cost-effective option for freelancers or solopreneurs with low-risk operations.

2. Business Owners Policy (BOP)

A BOP is a more comprehensive solution that bundles general liability insurance and commercial property coverage. It’s ideal for businesses that have customers visiting the home, sell physical products, or rely heavily on equipment.

3. Professional Liability Insurance

If you offer services or advice (such as consulting, design, or accounting), professional liability insurance—also known as errors and omissions coverage—can protect you from claims of negligence or mistakes.

4. Commercial Auto Insurance

Do you use your vehicle for deliveries, client visits, or transporting equipment? Your personal auto policy might not cover incidents that occur while conducting business. A commercial auto policy ensures you’re protected.

How to Get Started

If you’re unsure whether your current insurance covers your business, start by asking these questions:

  • Do I have customers, vendors, or delivery drivers coming to my home?
  • Do I store business inventory, tools, or equipment at home?
  • Do I rely on a vehicle for business purposes?
  • Do I offer services that could lead to claims of negligence or error?

If you answered yes to any of the above, it’s time to talk to one of our agents at Edwards Insurance! Your business is your livelihood—don’t leave it exposed. A small investment in the right insurance coverage can protect you from major financial loss and give you peace of mind. Whether you’re a freelance graphic designer or a home-based retail seller, tailored insurance coverage ensures you’re truly covered.

Need help finding the right policy for your home-based business? Contact us today for a free consultation and quote and let’s make sure your business is protected—right where it started!

Why Reviewing Your Policies Each Year Matters

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When was the last time you reviewed your insurance policies? If it’s been over a year, you might be overdue for an insurance checkup—and no, it’s not just a formality. Just like you visit the doctor for a yearly physical, giving your insurance a regular review helps ensure everything is still in good shape and aligned with your current needs.

Why Annual Insurance Reviews Matter

Life moves fast. In just a year, you might experience significant changes—some exciting, some unexpected—all of which can affect your insurance needs. An annual insurance review gives you the opportunity to make sure your coverage still fits your lifestyle and protects what matters most.

Life Changes That Could Impact Your Coverage

Here are just a few common life events that should prompt a policy review:

  • New Home or Moving: Whether you’re buying your first home, relocating to a different state, or downsizing, your homeowner’s or renter’s policy needs to reflect your new living situation.
  • New Job or Business Venture: If you’ve started a business, it may be time to explore liability or business insurance options.
  • Growing Family: Having a child is a major life event that often requires more life insurance, such as adjustments to your auto policies.
  • Major Purchases or Upgrades: If you’ve bought a new car, renovated your kitchen, or added a pool to your yard, your policies should reflect those changes to ensure you’re adequately covered.

What to Review During Your Insurance Checkup

Your insurance review doesn’t have to be overwhelming. Here are a few things to look at:

  • Coverage Amounts: Are you under- or over-insured based on your current lifestyle and assets?
  • Policy Limits and Deductibles: Would you be comfortable with the out-of-pocket costs if you needed to file a claim?
  • Discount Opportunities: Life changes can also mean you’re eligible for new discounts or bundling options.
  • Gaps in Coverage: As your life evolves, you may need additional types of insurance like umbrella coverage.

Make It a Habit

Put a reminder on your calendar every year—perhaps around your policy renewal dates or at tax time—to sit down and reassess. Better yet, schedule a meeting with your Edwards Insurance agent. We can help you spot gaps, explain policy changes, and ensure you’re getting the best value!

An annual insurance review is more than a box to check—it’s a smart, proactive way to protect your family, your assets, and your peace of mind. Life doesn’t stand still, and your insurance shouldn’t either.

Need help reviewing your policies? Reach out—we’re here to help you navigate your coverage with confidence.