Does CT Homeowners Insurance Cover A Home Business?

This week, May 4^th through 8^th, is National Small Business Week. According to the U.S. Small Business Administration, each years since 1963 National Small Business Week has been recognizing the critical contributions of America’s entrepreneurs and small business owners. Small businesses play a vital role in the American economy, creating about two out of every three new jobs each year. According to federal data, more than half of Americans either own or work for a small business, many of which are run out of the owner’s home.

When Connecticut homeowners run a part-time, seasonal or full-time business from their homes, it is important that they consider the additional loss and liability exposures that accompany business ownership. Starting any small business, especially one from home, can be a challenging venture but having the right insurance coverage can help provide a financial safety net.

Many home-business owners don’t realize that their homeowners insurance policy will only protect them to a certain extent. While a homeowners policy might offer some property loss and liability protection, these policies are not designed to absorb the financial impact of a business related lawsuit or loss. In some cases, certain CT Homeowners Insurance policies are written specifically with coverage exemptions for any claims that should arise out of business related activities.

If you are running a business out of your Connecticut home, you’ll want to carefully consider all your risks and insurance needs. At Byrnes Agency, we specialize in helping Connecticutians find complete insurance solutions that meet their unique needs. Our agency has been providing communities throughout Connecticut and neighboring states with business and individual insurance programs and services for over seven decades. We offer a wide array of Connecticut personal insurance solutions, and will work with you to address all your needs and exposures. To learn more about our operation and all our offerings, contact us today at an office near you.