Hoboken Insurance Tips – May 2009


[Each month, Hoboken411 will publish helpful insurance tips, courtesy of our local State Farm Insurance office.]


Home-Based Businesses Need Business Insurance

“In today’s economy for one reason or another, such as the need for additional income or the loss a job, many are setting up a business out their home.

You need business insurance because most homeowner’s, renters and condo unit owners policies place limits on business related exposures. For instance, a copier or fax machine used for business and damaged in a fire may not be fully covered because it is considered business property.

Also, the homeowner’s policy does not cover business liability, loss of income, exterior signs and many other important items. If a client were injured at your home while conducting business, your homeowner’s policy will not apply. Anyone who operates a home-based enterprise and does not have proper insurance coverage is putting his or her business and personal assets at risk.

Business insurance may provide many or all of the coverage listed below.

  • Accidental direct physical loss coverage for business personal property.
  • Broader off-premises property coverage loss of income coverage.
  • Extra expense coverage
  • Contractual liability coverage
  • Liability of employees while acting within the scope of their employment.

Many entrepreneurs start their businesses on shoestring budgets and try to cut corners by keeping expenses at a minimum. But when you consider what you get, business insurance becomes a tool you can’t afford to work without.”

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2 Comments on "Hoboken Insurance Tips – May 2009"

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strand tramp
strand tramp

it has been documented that insurance co’s use multiple lines of defense to avoid paying. ignore the phone bank comments, they will deny it was said…and getting another insurer takes all of a day.


Give me a break. You know what the premiums are for some of this type of insurance? No one working from home could affords these premiums.

Funny this post came out today. I happen to have State Farm and had some damage to my place. I called to schedule an inspector and they told me it would probably be better for me to pay out of pocket then risk my premium going up, or possibly not being renewed based on Hoboken being considered a Coastal City.

What the hell is my premium for?