COVERAGE FOR YOUR HOME BUSINESS

Homeowner insurance policies do not cover certain business practices you conduct in your home unless you specifically arrange for that coverage. Here are a few surprising scenarios that are not covered:

• While caring for a child in your home, for a fee, the child is injured. (The parents will expect you to cover the hospital bills.)
• You replace the brakes on your friend’s car for a "few bucks" and the car is damaged due to your work, or your friend is injured due to your work; (He will expect compensation from you.)
• You use your detached garage for a small woodworking business. This garage is damaged in a windstorm and you want it rebuilt.
• You do word-processing for a fee from your home. Your computer is stolen. You want to replace it.
• You are a self-employed sales representative and work out of your home. While working with a client, the client is injured in your home office. (Your client will expect you to pay for the medical care.)

Since each of the above scenarios falls under the category of "home business," you need to arrange  specific insurance coverage for your home business. There are three options:

• A business insurance policy may be purchased to cover certain liabilities.
• Your Homeowner insurance policy may be broadened to include such liability coverage.
• You work out of your home, but you represent a larger company; The company you work for should carry off premises liability insurance for employees who have a home office and are doing business for that company out of their home.

If you have any further questions, please call us at Executive Insurance Group. Our team of experts can be reached Mon-Fri 8 a.m.-5 p.m. at 330.966.0080 locally, 800.981.0080 toll free, or email: info@executiveinsurance.com