The Rise of In Home Business
Many people have worked in a corporate environment and then decided life would be better if they were in more control and had some independence. Therefore, they go out on their own and start a business. A lot of times this ends up being a business they run out of their homes. Another contributing factor to in home businesses is the economy. Many people are unemployed and are using an means necessary to generate income.
Did you know that your current homeowners or auto policy may not adequately cover this business and/or hobby? Did you know your personal automobile policy does not cover delivery of products? Read your policy. Delivery will be listed as an exclusion. If you store product(s) for the business/hobby in your home, there is very limited coverage on a standard homeowners policy.
Other areas to consider are liability (general, personal injury, Employment Practices, and/or professional, etc.), workers compensation, spoilage coverage, etc.
If you are using your home as a hub for you hobby/business, you may want to check your policy or contact a local independent insurance advisor to help you evaluate your risk exposure.
Related Information
Best Ways To Save Money On Your Auto Ins
1. Drive Less for and get a discount
Some carriers will discount your premium with a low-mileage discount if you drive less than 7,500 miles per year. Also ask your agent if you can receive a commuter discount for using public transportation.
Get the answers you need.
Personal Injury Protection Coverage:
Personal Injury Protection (PIP) covers, within your limits, the medical or funeral expenses of you, passengers, or pedestrians injured in your accident. This coverage is only available in certain states, so always check with a licensed auto insurance agent.