Your NJ Homeowners Insurance Isn’t Enough!

If you run any form of business within your home, don’t kid yourself: your Homeowners Insurance policy probably does not have adequate coverage to protect you from all the liability risks!

NJ Home Based Business Insurance Claims Examples

• Susan managed a home-based skin-care Amazon business. A home fire damaged the $7,800 worth of stock she stored in her home. Her Homeowners policy did not cover the losses. Her home-business policy covered it.

•  Sharon sold muffins from her home. After purchasing a dozen baked goods, a customer slid and fell, injuring herself. Doctor’s services amounted to big liability which Sharon's home-business insurance policy picked up.
  
  
• Jack was away from his home on a business trip. In the meantime, his laptop computer was stolen from his home-based office. Jack’s Homeowners policy did not cover the theft. His home-based insurance did, however.

• At a business event, a participant tripped over Sam’s booth’s sign and hurt himself. Sam was sued for the liability damage. Sam’s home-based business policy covered the payments.
  
  
• Stan’s home-based business was unable to operate for the duration between a fire’s damage and the completed recovery work. Stan’s home-based policy provided the necessary loss of income plus expenses coverage.

• Paul’s home-based office experienced a power surge that damaged his computer, telephone and facsimile machine. Paul’s home-based business policy replaced the machinery.

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Summary: Business owners who work from home should not be deceived by the prevalent myth that their homeowners insurance will adequately cover any losses. The truth is that they need a special commercial insurance plan to be fully protected.