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What
Your Homeowner Policy Doesn’t Cover If You Operate a Home Business
Thinking about starting a home-based business? Before you hang a sign outside
your front door, check your homeowner policy to find out what is and isn’t
covered. The following may not be covered by your homeowner policy:
Business Contents – Property specifically related to the
business, such as office equipment or product inventory, may not be covered at
all or be subject to policy limits.
Data Recovery – If damage to a computer or other hardware
results in lost
data, the cost of recovering that data may not be covered.
Offsite Property – Even if your laptop is protected under
your homeowner policy, it may only cover it when the loss or damage occurs at
home.
General Liability – If Aunt Mabel falls while visiting your
home, your homeowner policy will cover her injuries; however, if a client or an
employee has the same accident while conducting business, your liability
coverage may be void.
Business Interruption – If a fire, flood or other disaster
forces you out of your home, making it necessary to suspend business
operations, your policy won’t cover your costs during that period of lost
revenue.
Let your insurance company know that you are starting a home business, as
simply using your home for purposes other than those your insurer is aware of
may void your policy. Be sure to note if there are any coverage limits that may
cause problems as your business grows.
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King & French Insurance Agency
2080-B Fairburn
Rd
Douglasville, GA 30135 |
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