Home-Based Business and Insurance – 3 Facts

Owning a home-based business can be a great way to pursue a passion and make a little extra income on the side. But did you know that your homeowner’s insurance policy may not cover you while you do so? Here are three facts you need to know.

Fact #1: Homeowner’s Insurance Specifically Excludes Business

One fact to consider before you start that home-based business is that many homeowner’s insurance policies specifically exclude commercial endeavors. This means that if you ever have a claim—such as a fire, weather event, or theft—you could be responsible for replacing your inventory and other business items out-of-pocket.

Fact #2: You Could Be Putting Yourself at Risk for Claim Denial

Some property insurance carriers are even so picky about business exclusions that they will deny entire claims over the fact that a commercial endeavor was taking place inside the home. Imagine a situation where your house burns down, everything you own is damaged, and your insurance company denies the entire claim because you didn’t have a separate commercial insurance policy. Would you be able to replace everything you own without undertaking a huge financial hit? Unfortunately, this is the reality for some home-based business owners who do not seek out separate coverage.

Fact #3: Even Small Home-Based Businesses Need Commercial Insurance

Again, many carriers these days are really picky about home-based businesses. Often, they do no care if you only sell a few items a month or go to a trade show once a year. This means that even small endeavors need to have a special commercial insurance coverage. Most policies are surprisingly affordable and include basic liability and property damage protection.

Make sure your home-based business is completely covered. Contact us at Runnels Insurance today for a free quote or comprehensive policy review.


When the Lights Go Out: Preparing for Power Loss

Power outages can happen anytime in Brandon, FL. You may suddenly lose power due to tropical storms, or even from someone running into a utility pole in your neighborhood. Dealing with a power outage is easy–and can even be fun–if you have taken time to prepare. Runnels Insurance offers tips on making the most out of a power outage.

Lights and Entertainment

Lighting is simple with today’s selection of LED flashlights and emergency lighting kits. Stock up on inexpensive LED flashlights and batteries, or for a few dollars more you could even install a few emergency lights. This type of lighting is powered by a heavy-duty battery and is made specifically for emergency events.

Keep board games and books on hand. Treat the outage like a camping trip—or an impromptu vacation from electronic devices. What better to do during down time than some family bonding over a word game or a trivia competition?

Create a Stockpile

No need to buy food to last your family for years; but, consider stocking enough staples to feed your family for at least several days’ time in the case of a significant outage. Keep a manual can-opener on hand to use in a pinch. Also, make sure to have enough drinking water to keep each family member well-hydrated during a mid-summer outage.

Power Up

If you experience more power outages than you care to deal with, consider investing in a generator. Even small generators can provide enough power to help you accomplish cooking on an electric griddle and taking care of basic household needs.

Runnels Insurance wants to make sure all of your home’s needs are met. For more tips on power outage preparation, or to see how Runnels Insurance can help you find the best homeowners’ insurance policy for your budget, contact us today.