Should I be Concerned about Insuring my Home-Based Business?

The answer is absolutely yes. The homeowner’s policy provides minimal coverage, if any, for businesses in the home. Do you have a home-based business that provides services such as daycare and/or have computers, products, supplies, etc. in your home? Something as innocent as consulting from your home puts you at risk for an uncovered loss. You may say “No one ever comes to my house, it’s just clerical work”.  What about the person who “stops by” just to pick up paperwork and gets injured?  There will be no coverage provided from your homeowner’s policy because the loss was due to your business. If you rent out your garage to someone to fix cars in, or if you have your carpenter’s shop in the garage and there’s a fire, the homeowner’s policy may not cover the loss because it was used for business. A simple endorsement to your homeowner’s policy MAY be all it takes to be covered correctly. If you have any doubts or concerns about your home based business and how it may affect your coverage, please contact your Insurance Agent to make sure that you have the proper coverage to protect you, your customers and your family.