A 2012 survey reports that 9.5% of households include a home office. Some of these home offices are actually telecommuters who work remotely from home, but most are small businesses of one sort or another.
If you own one of these small, part time businesses, you want to be sure to put some sort of part time business insurance in place. Do not make the mistake that many small business owners have made: do not assume that your homeowners insurance will cover your business claims.
Most homeowners policies do not cover business-related losses unless you have negotiated a rider with your insurer which changes that. Keep in mind, however, that a rider will only be effective if you have a very simple business, such as one which uses just a computer or a phone.
But if you are manufacturing products or doing repair work of some sort it is likely that you will need something more substantial, such as specific commercial insurance. And, of course, unless you live and work in Texas, you will need workers compensation insurance.
Think for a moment about the risks a home-based business has: theft, natural disaster, damage or perceived damage to a client, and, of course an accident involving your vehicle.
But the biggest risk of all is not having the appropriate insurances!
If you have a small, part time business, you should contact a licensed commercial insurance professional as soon as possible. You will want to work with that professional to determine which insurances you need.