In Home Business

An Unpleasant Business Surprise

If you run a business in your home, you may be surprised to find that a typical homeowners policy is NOT designed to insure it. Standard homeowner policies don't provide coverage because they're meant to cover exposures to losses that are personal in nature. The premiums collected for basic homeowners policies are determined assuming that any losses will be the result of owning a particular home or from the various personal activities of the homeowner.

While some very limited coverage does exist for some instances that involve modest amounts of business personal property or landlord's property; if a business exists at your personal residence, you need to be aware of the many holes in your protection.

How then do I insure my business?

In-home business operators commonly must consider:

Workers compensation for ANY employees; business automobile insurance for delivery vehicles and trucks (including larger pickups); and liability coverage under a commercial auto or general liability policy for liability and physical damage coverage for mobile or contracting equipment.