Home Business Insurance Policy
The in home business insurance policy coverage can also be called an in home business endorsement. In that case, it will be a special endorsement to your existing home insurance.
However, you can get a completely separate insurance policy as well. So, shop around. While getting business insurance through your home insurance company might be a good deal, it also might not. Also, a stand-alone insurance policy makes keeping track of the books easier (separate invoice and separate payment).
In home business insurance policies vary widely. Check carefully and read all the details on any insurance policy that you are considering. Inclusions and exclusions are key. However, in home business insurance policies should provide you with more coverage than a standard homeowner's policy endorsement.
You'll usually get insurance coverage for your business property, but you'll also generally get insurance coverage for the loss of business records, accounts receivable and even for off-site business property (This is very helpful if your standard business computer is a laptop that travels around with you). Some may provide for business interruption coverage - loss of income to your business - in the case of a fire in your home which prevents you from working. You may even get 'expenses' for your business, so that you can temporarily operate out of another location.
You should get a better level of liability coverage with the in home business insurance policy. It's important because lawsuit's can be devastating to a small business. You should consider a level of liability which offers protection against lawsuit's for 'injuries' (either to a business or a person) caused by your product or the services you offer. This would be in addition to any liability for personal injury on your premises.