What home-based business owners need to know about insurance

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Young female entrepreneur sitting at her dining table at home working on a laptop and writing down notes

In the last few years, due in part to the COVID-19 global pandemic, many people have decided to become home-based business owners.

Some people have quit jobs to start their own companies and others have taken hobbies or interested and expanded them into home-based businesses.

No matter the reason, home-based business owners need to make sure they have the proper insurance policies in place to protect their assets.

For some home-based business owners, a standard homeowner’s policy isn’t enough – a commercial policy might be necessary.

After all, home-based businesses are all different – with different needs. So, home-based business owners, here are a few things you need to know.

The type of home-based business

What time of business do you own? Are you a team of one? Do you have employees? Do you see clients in-person or does your team come to your home for events and meetings? Every business is different but knowing your needs and operations can help your insurance agent guide you in the right direction for proper coverage.


Do you have to drive for your business or do your employees drive or make deliveries or sales calls? If you use your vehicle for your job – or if your employees use theirs or one of yours – you’ll need to make sure they (and you!) are covered.

Homeowners vs. commercial insurance

For some home-based small businesses, a homeowner’s policy might cover you well enough. And no one wants to pay for coverage they don’t need, right? This is why consulting with an experienced insurance agent is a good choice.

But some businesses need a commercial policy, because a homeowner’s policy won’t provide enough coverage. If you have employees, if you or your employees drive for work or if you take in sensitive data from your customers, this might be your best option.

Crumrine Financial Services

At Crumrine Financial Services, we can help you choose the right policy for your home-based business. Call us for a quote.