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Murphy Insurance2026-06-30 07:00:562026-06-26 14:40:30What Counts as a Home-Based Business (and When Your Home Policy Isn’t Enough)
What People Say
“I find myself always amazed at what great staff you have working for you. As an employer of 25 people, I know it takes a good employer to have loyal employees. The Murphy team is terrific with our health and commercial policies. Thanks for at least ten years of great service.”
Protect Your Assets and All You’ve Built
With all the hard work put into building your business, it needs to be protected financially from the loss of buildings, equipment, and business personal property in the event of fire, theft, or other covered types of damage or destruction. If your business involves servicing other people’s property, you need protection while it’s in your possession. Also, beyond physical property damage, you can protect your business from lost income resulting from a covered loss.
What Does Property Insurance Cover?
Property insurance pays for losses and damages to real or business personal property from various “perils” (resulting in damage or destruction). Insurance can be purchased in a package covering a different combination of causes of loss, or you may purchase components separately depending on your specific needs. While covered perils vary depending on the policy you are purchasing, generally, it provides for repair or replacement caused by:
- Fire – including damage from smoke and water used to put out a fire
- Weather – lightning, windstorms, hailstorms, tornadoes
- Equipment Failure – damage from bursting of heating, plumbing, or hot water systems
- Explosions
- Collapse of Roof or Walls
- Damage by Vehicles
- Theft or Burglary
- Vandalism and Malicious Mischief
Coverage Solutions to Fit Your Unique Needs
There are a variety of coverage options to help protect your business. You can select from the insurance protection options below to learn more about each. This is just a partial list of protection we can provide. To discuss specific property and equipment protection needs for your business, please Contact Us by email or phone or visit one of our offices. You may also request a business quote online. Our trusted professionals will help you develop a custom protection plan for your business.
- Boiler & Machinery Breakdown: This coverage protects you if machinery or other equipment breaks down, causing property damage or a business interruption loss.
- Builder’s Risk Insurance: If you’re building a new commercial or residential property, builder’s risk insurance covers structures under construction. It also covers losses if a partially completed building is destroyed in a fire. Builder’s risk insurance can be purchased for one specific project or multiple ongoing projects.
- Business Interruption Insurance: Business interruption insurance (aka business income insurance) helps with loss of income while a business is recovering from a covered loss that caused damage to a business’ physical property, resulting in the need to temporarily shut down business operations. learn more >
- Contractor Equipment Insurance: As a contractor, you may carry tools, equipment, spare parts, and other items essential to your profession in a vehicle that moves with you. An automobile policy doesn’t cover your business equipment, so you need special coverage. You may schedule equipment insurance or purchase a blanket policy depending on your needs.
- Contractor Installation Insurance: As a contractor, electrician, plumber, or other artisan, you may install expensive materials or units as part of your job. You may need this type of coverage for damage or losses that could occur during installation, as well as losses that can occur during transportation or temporary storage before installation.
- Crime Insurance: Depending on the value of your company’s business assets or your exposure to financial theft from employees or outsiders, this may be a coverage option to consider. Even if your primary property insurance policy covers crime situations, you may want higher protection limits for your business.
- Debris Removal Insurance: If your building burns down, you will have to remove the remains of the old building before you can start construction. Basic property insurance covers the costs of rebuilding but not debris removal. Debris removal insurance pays for removing debris after a covered loss so that you can begin to rebuild.
- Ordinance or Law Insurance: Ordinance or law coverage assists in covering the cost to rebuild a structure after it’s been damaged or destroyed, ensuring that the reconstruction meets the latest building codes, ordinances, or laws. This type of coverage addresses the extra costs of upgrading the property to comply with current local building codes or legal standards, which are usually not included in a standard commercial property insurance policy. learn more>
- Service or Care of Other’s Property: If your business involves the service, repair, or storage of other people’s property, you need Bailee insurance protection if lost or damaged while in your care. This coverage provides comprehensive protection in most situations, even if the property is away from your facility or has been stolen. Another option is “personal property of others” coverage; however, it has more limitations and may not be the best choice, depending on your line of business. This type of protection is typically purchased by auto mechanics, computer technicians, dry cleaners, jewelers, veterinarians, and others.
- Tenants Insurance: If you lease your commercial space and have made significant improvements, you should have insurance with specified coverage limits that pay for damage.
- Transportation & Property In Transit: Transit and transportation insurance needs vary significantly depending on your business. You may need insurance coverage for a specific single shipment or an open policy covering all shipments and movement during your policy term. You may need insurance protection for all shipments by any carrier, including third parties, or require only domestic transit coverage. Coverage is also available if your company provides transportation services and needs protection while shipping cargo or household goods for others.
Do You Run A Business From Your Home?
Today, home-operated businesses are increasing in number. Many home-business owners may not realize that Homeowners insurance has various exclusions for business property kept at or in the owner’s home or personal vehicle. If you run a home business, ensure proper coverage to protect you from financial hardship.
Insurance Companies
At Murphy Insurance, we work with top rated insurance companies and compare options to find the best balance of cost and coverage that meets your needs.
Read Our Commercial Property Insurance Blog Posts
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Murphy Insurance2026-06-30 07:00:562026-06-26 14:40:30What Counts as a Home-Based Business (and When Your Home Policy Isn’t Enough)
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Wayne Texeira
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Wayne Texeira2026-06-18 10:03:112026-07-01 14:56:15Tropical Storm Arthur—a Reminder That Hurricane Season Has Begun