There are many different types of home businesses. You might babysit a group of kids or do some graphic design work from a home office, or maybe you cut hair or arrange flowers. With all these home businesses, a simple question that often comes up is whether you are properly covered by your homeowners policy. Standard homeowners policies exclude liability for bodily injury or property damage arising out of the business pursuits of any insured and personal property used for business purposes is limited to $2,500 on the premises. However, most companies offer a home business endorsement you can add to your homeowners policy to ensure you are properly covered.
The following coverages are often provided in a standard home business endorsement:
There are some guidelines that will help determine if your business is eligible. For instance:
As you think about whether you need additional insurance for your home business, you may want to consider talking to your independent insurance agent about Acuity Insurance. Our premiums are generally very affordable and we work to ensure you have the proper coverage for your home business. Don’t be caught off guard when it is too late. Talk to your insurance agent today.