More and more people are running a business from their home, either as their primary job or a side hustle. But is their homeowners insurance adequate to cover any liability?
That’s a very important question to answer.
“There have been cases where homeowners insurance carriers have denied liability claims because it was a business claim rather than a homeowner’s claim,” Mark Ahart, an insurance agent with Ahart, Frinzi and Smith Insurance in Alexandria, Va., told the Washington Post.
Even if you just work for yourself, the newspaper reports, you need to make sure your business is covered beyond homeowners insurance. According to the Post:
Even if you just work (for yourself) from home, rather than running a full fledged home-based business, you need insurance to protect yourself. Why? “You need to separate your business from your home,” Ahart said. “If you make a mistake in your professional life, you don’t want people to be able to come after your home.” Your homeowners insurance will not cover problems that come up because of your home-based business. Neither will a personal umbrella liability policy, which also excludes business-related problems.
With all that said, what you may need, even for your home-based business, is commercial insurance.
“You should always have a business insurance policy, regardless of what type of work you’re doing,” Ahart said. “It’s broader and covers more things.”
The same company, Seeman Holtz Property & Casualty, that can get you excellent homeowners insurance can look out for your commercial insurance needs. Whether you run a giant company or a small business from your home, Seeman Holtz Property & Casualty brokers have the experience and expertise to make sure you’re covered.
We help find the coverage that will give you peace of mind to be the best you can be to make sure your business thrives.