More than 12 million Americans run a business out of their home, yet an estimated 60 percent of them lack any type of business insurance. If you run your own home business, no matter what size it is, business insurance is essential. Here's why.

Regular homeowners insurance policies cover very little of the expenses associated with a home business if a loss occurs. The cost for such business-related items as supplies, tools and even customers' information could end up being the sole responsibility of the business owner. In addition, a regular homeowners policy will not cover accidents that occur in the course of performing everyday business matters. Even something as commonplace as a business delivery could have unexpected consequences.

So what is the typical home business owner to do?

Business insurance is a surprisingly cost effective solution. There are three types that are suitable for the home business owner: A rider added to a homeowners policy, an in-home policy and a business owner's policy.

For the individual operating a small business venture (with very little equipment and potential for loss), adding a rider onto his or her homeowners insurance may be the right solution. This way, if a loss occurs, those expenses associated with it could be covered.

For the business operator whose equipment and liability needs are higher, an in-home insurance policy may be the answer. These policies cover the loss of business equipment as well as losses associated with liability in the event that an accident occurs.

Finally, for the business owner with a fairly large business, a business owner's policy may be the right choice. This type of policy covers not only loss of equipment and liability matters, but also those losses associated with malpractice, data breaches, interruption of business services due to various factors and even loss of income in the event that the business needs to be shut down for a period of time.

A home business can be a source of extra income, or the source of your livelihood. Either way, unnecessary losses can be avoided by the purchase of in-home business insurance at a surprisingly low cost.

Contact us for more information about which type of business insurance is right for your needs.

Ask us about coverage. Call Berger Briggs Insurance at 505-247-0444 for more information on New Mexico business insurance.