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| *Loan,banking and credit>>>homeowner insurance |
No real business taking place in the home but will homeowners insurance give me a problem? |
None of my business takes place in the home as I run a limo company with only 1 limo. The only thing I have in the home is my computer but that is it. Will homeowners have a problem with it if there is no actual business taking place even though it is considered a home based business? Can they find out? Basically you have an office in your house. As long as you don't have employees and people coming to the house you should be fine. You should contact your homeowners agent and explain the situation. There are many home based businesses that can be endorsed on the homeowners policy. The most important is to have business liability endorsed to your homeowners. I have quite a few customers that have home based businesses. It really depends on the type of business and the flow of traffic in and out of your house. Contact your insurance agent. If you ever have a claim the homeowners will not cover the business loss. Business insurance has all sorts of extras for loss of use of the limo and business records etc. You can get business insurance at a residential location - check it out. the home owners can terminate your tenancy if you are using the address for business purposes without their prior consent. Also if you have anyone visiting your home in realtion ot the business even a one off, you need business insurance Where is the OFFICE for the limo? If the OFFICE Is in the home, you'll probably need to show the homeowners carrier that you have a public vehicle policy in place. As long as you don't have any employees or passengers on the premises, and you have a public liability policy in place, it shouldn't be a big deal. You ALSO might want an endorsement on your homeowners policy, to cover your business (office) equipment, including computer, as coverage for business equipment is normally limited to $250. agent, 21+ years A home business is a business that operates from home. Your LIMO DOES NOT QUALIFY AS YOUR HOME. Yes you are self-employed, but this does not mean that you have a home business. YOU ARE FREAKING OUT OVER NOTHING. Your HO policy will not give you any problems as long as you understand there is very little property coverage and no liability coverage for a home based business. They don't cover it so they don't care. But if YOU care for peace mind just buy a little commercial policy to give you a little liability coverage and coverage for the stuff in your office for about $500. Get it through the agent who does the limo insurance. |
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