Many people do. Almost 3 out of 10 people engage in some sort of home business, with activities ranging from sales and services to manufacturing and farming. Some homeowners sell Christmas crafts, firewood, farm products, pets, antiques, beauty products, cleaning products and subscriptions, while still others teach piano, provide day care, counsel patients, repair bicycles, service computers, groom dogs, and sharpen knives.
Homeowners have even been known to have kilns and machine shops in their garages!
If you work from home even part time, you need to add an endorsement to your homeowners or renters insurance called "incidental occupancy endorsement."
In some cases this is also required by your HOA or even as a requirement for local government regulations.
Homeowners policies, besides covering your building and contents, also cover personal liability, including liability for guests injured on your home premises. But they do not cover injuries to those who come onto your premises for business purposes.
Many companies offer an “In-Home Business Endorsement”. This endorsement will go a long way toward filling the gaps in your coverage. If your company doesn't offer this endorsement, other endorsements may be able to be added to your homeowners policy. But keep in mind that not all companies offer all of these endorsements.
That includes not only businesses that have regular visitors to the home -- such as yoga instructors, piano teachers or day care providers -- it also includes injuries to the occasional visitor, such as a co-worker or delivery driver who's dropping off some work from the office and falls on your icy driveway in the winter and gets injured. No coverage. How much does it cost to add this nifty endorsement? In most cases less than you would spend on a night out.
For that small price, it's silly not to have one.
When considering your needs for insurance products for your home or business remember contacting Bennett Insurance Group is the right move. Give us a call at 623-979-4140
Presented By:
Jim Bennett
Bennett Insurance Group
623-979-4140
http://jimbennettinsurance.com
jim@jimbennettinsurance.com
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