Running a Business from Your Home

June 18, 2014 at 9:38 AM | Posted in Home, Insurance Policy | Leave a comment
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If you are looking for a way to earn some extra money from home, the occasional yard sale or perhaps a side job like selling a product from your home may be an appealing way to generate some extra income. When you operate any type of business from your home, you should be aware of certain coverage limitations.

The home, condo, or tenant policy form defines a business as: a trade, profession or occupation, or any other activity for money or other compensation. It goes on to define a business as: activities for which an insured received more that $2,000 in the twelve (12) months before the home policy is effective.

Coverage that becomes limited once the business is in the home is bodily injury or property damage arising out of the business. Your business property or inventory is also limited under your policy, especially if any part of that business is run out of a detached structure on your premises. If that is the case, not only will your business property be limited, but you may find yourself with no coverage to rebuild that detached structure if there was a loss.

Should you decide to conduct any business from your home, or have products on premises that you sell, contact us at 888.850.9400 to make sure you have the proper coverage in place to protect yourself in the event of a loss before it occurs.



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