# Home based business insurance?



## 34Ford (Mar 19, 2010)

I bought a Oki 920WT printer at the Nashville show and I am financing it thru Capitol and they said I have to have it insured or they will charge $20 extra a month.

So I looked at my home owners insurance and since I have $50,000 worth of equipment in my shop it would be $770 per year just for the contents in the shop.

Wanted to know if I had liquid ink. so I told them yes, solvent ink and they saw on my website I have powder coating.

So..... what the heck? I told them for the time being just cover the Oki printer.


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## jennGO (Mar 11, 2014)

Sounds cheaper to just pay the creditor extra. The risk then is if something happens to your equipment are you SOL? Do they make you still pay the lease in full or does the $20 prevent that?


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## hansenk (Jun 19, 2016)

When I bought my business from my mom I looked into the business insurance vs just using my homeowners. the policy that i have covers replacement of equipment and any loss of income while the business is "out of order".To me it is worth the cost.


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## binki (Jul 16, 2006)

Read the policy. It covers more than just the equipment. It will have liability, replacement cost and probably some other stuff in it. If you let the lender do it then all you get is the machine paid off for a covered event. There may even be a deductible.


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## IamKimlee (3 mo ago)




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## markiedis (May 14, 2021)

Anyone had experience with the american home shield?
Reading about them on this website at the moment but the comments are very different.
Would like to hear what members of this can say about them.


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