Articles

Did you start a business in your home?

If this was the year you finally started your own home-based business, make sure that your insurance coverage reflects this change. Using any part of your home for business purposes can affect not only the insurance on your dwelling but also the coverage on your personal belongings and your liability to others.

Without a separate endorsement, your homeowner's policy assumes that you will be using your dwelling as a private residence. All of the insurance protection you have under the policy is based on that assumption. If your home is no longer being used solely as your private dwelling, you need to contact Avery Insurance to review your coverage. For example, any separate buildings on your property that are being used, even in part, for business purposes, such as for storing merchandise, can invalidate your homeowner's coverage. Similarly, any separate building that you rent or lease to anyone other than a tenant of your dwelling for any purpose other than as a private garage, could negatively impact coverage.

In addition, nearly half of all home-based workers fail to carry adequate insurance for business-related property, including such items as computers, printers, copiers and telephones. And too many home-based businesses don't have sufficient insurance to cover liability hazards either. Don't set yourself up for financial catastrophe by not having the coverage you need for any business activity on your home premises.