The dream of owning a business is becoming a reality for thousands of people each year. For many of these would-be captains of industry, that means starting the operation at home. However, your enterprise may be in jeopardy if you don’t have business insurance.

You need business insurance because most homeowners 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 homeowners 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 homeowners policy would not apply.

Anyone who operates a home-based enterprise and does not have the 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:

uAccidental direct physical loss coverage for business personal property.

uBroader off-premises property coverage

uLoss of income coverage

uExtra expense coverage

uContractual liability coverage

uLiability 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.

EDITOR’S NOTE: The Shelby County Reporter wants your expert opinion. Business professionals are invited to submit advice columns to Dollars and Sense, published weekly on our Business Page.

Simply e-mail columns to Jan.Griffey@shelbycountyreporter.com. Columns should be about 300 words in length. For more information, call Griffey at 669-3131.