Does your Homeowner Policy cover your Home-Based Business?
What is considered a business? What you consider a business and what your insurance provider considers a business may be seen differently. Hmm, never thought about that?
So ask yourself "Am I making a profit from my service?".. Chances are it is a business. Do you have clients coming to your home? Do you keep records of your service at home? Do you care for children or adults in your home for a fee? Do you work on your friends vehicles in your garage for a fee? Do I bake and sell goods from my home? If you answer yes to any of these questions , you may want to talk to your insurance agent.
Here are just a few home-based business that may require a business policy or at the least an endorsement to your homeowner policy:
- Accountants and tax preparers/li>
- Web design firms/li>
- Online goods sales/li>
- Caterers and food sales/li>
A business policy may be required for the protection you need.