I run a small business from my home. Will my homeowners policy cover it?
Total Comments: 7
Posted: Sat Jan 08, 2011 09:13 pm Post Subject:
Rarely and if they do, they probably have caps on the amount they will cover.
Posted: Sat Jan 08, 2011 09:21 pm Post Subject:
If you have employees, you need to purchase Workers Comp
Posted: Sat Jan 08, 2011 09:35 pm Post Subject:
If you have a decent amount of business equipment, you will want to purchase a separate policy.
Posted: Mon Jan 10, 2011 06:19 pm Post Subject:
Do you have customers come to your home? If so, I would recommend purchasing a General Liability policy.
Posted: Fri Jan 14, 2011 11:17 pm Post Subject:
We really need to know what type of business you are running out of your home? Most homeowners policies do provide coverage for a limited amount business being run out of your home. A BOP would be more appropriate in your situation since it provides a combination of first and third party coverage that is geared towards small business. I would need to see your homeowners policy to identify the extent of the coverage available to you for your home business. Workers Comp is the only line that you would need to purchase separately if you have employees.
Posted: Mon Jan 17, 2011 10:11 pm Post Subject:
Most homeowners policies do provide coverage for a limited amount business being run out of your home.
A homeowner's policy may provide a VERY LIMITED amount of property coverge for business personal property, but it will not provide liability coverage for most business-related exposures. For that, you need a General Liability policy issued to the business.
Posted: Tue Jan 18, 2011 01:19 am Post Subject:
That is partially correct. There is no liability coverage on an unendorsed homeowners policy. However, I wouldn't go out and buy a GL policy if you don't have to. It will cost a minimum of $500 (still not sure about the details of your business. You can endorse your homeowners policy with a Home Business Endorsement that will provide you some liability coverage and additional property coverage. If you are running a small office related type of business this may be all you need.
Posted: Sat Jan 08, 2011 09:13 pm Post Subject:
Rarely and if they do, they probably have caps on the amount they will cover.
Posted: Sat Jan 08, 2011 09:21 pm Post Subject:
If you have employees, you need to purchase Workers Comp
Posted: Sat Jan 08, 2011 09:35 pm Post Subject:
If you have a decent amount of business equipment, you will want to purchase a separate policy.
Posted: Mon Jan 10, 2011 06:19 pm Post Subject:
Do you have customers come to your home? If so, I would recommend purchasing a General Liability policy.
Posted: Fri Jan 14, 2011 11:17 pm Post Subject:
We really need to know what type of business you are running out of your home? Most homeowners policies do provide coverage for a limited amount business being run out of your home. A BOP would be more appropriate in your situation since it provides a combination of first and third party coverage that is geared towards small business. I would need to see your homeowners policy to identify the extent of the coverage available to you for your home business. Workers Comp is the only line that you would need to purchase separately if you have employees.
Posted: Mon Jan 17, 2011 10:11 pm Post Subject:
Most homeowners policies do provide coverage for a limited amount business being run out of your home.
A homeowner's policy may provide a VERY LIMITED amount of property coverge for business personal property, but it will not provide liability coverage for most business-related exposures. For that, you need a General Liability policy issued to the business.
Posted: Tue Jan 18, 2011 01:19 am Post Subject:
That is partially correct. There is no liability coverage on an unendorsed homeowners policy. However, I wouldn't go out and buy a GL policy if you don't have to. It will cost a minimum of $500 (still not sure about the details of your business. You can endorse your homeowners policy with a Home Business Endorsement that will provide you some liability coverage and additional property coverage. If you are running a small office related type of business this may be all you need.
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