Will my homeowners policy cover my home-based business?
Does my homeowners policy cover me if something happens? I started a small handyman business recently that I run from my home. I sometimes see clients in the office, but mostly I go to their house for little odd jobs.
“The first thing you will want to do is a check-in with your insurance agent.
Some homeowner’s policies explicitly exclude any home-based business. Some allow for a small percentage of your policy to be allocated to the business.
If your current policy doesn’t have business coverage, ask your agent if it can be added on with an endorsement. Since you mentioned that you only have a few clients visit your home, you may be eligible to add coverage for some of your work supplies and liability in case a client gets hurt at your home.
If you cannot add the coverage to your current policy, you can purchase a BOP (Business Owner’s Policy). This may be your best option since you travel to customers and provide a service.
A BOP will provide liability coverage, commercial coverage, and business income insurance. With a BOP, you can also have professional liability insurance. This will come in handy if someone files a claim against you for faulty workmanship.
To find the best deals on insurance, try using the free Jerry app. Jerry compares rates from the top companies in the nation to help you find the lowest rate.”
Did this answer help you?
Ask us a question by email and we will respond within a few days.
Have a different question?
You can meet us at our office and discuss the details of your question.
Read advice from car experts at Jerry
Browse by topics
What others are asking
Will damage to my car from a snowplow be covered under my homeowners insurance policy?
If one of the snowplows damages my car, would it be covered under my homeowner's policy? I live in Connecticut and we get tons of snow. The snow plowers in this area drive crazy and it makes me worry about my car.
Jul 26, 2021
What is subrogation and will it help me?
What does subrogation mean? My car was badly damaged in an accident the other day. I was found not at fault for the accident. However, since the other driver wasn't carrying insurance, I still had to pay my $1,000 deductible. My adjuster said not to worry and that I will get it refunded through subrogation.
Jul 26, 2021
Since I own my home outright, can I cancel the homeowner's insurance?
Why can't I just pocket the $5000 I pay every year and use it to repair my home if any damage happens instead of just giving money away to the insurance company? I live in Florida and pay about $5000 per year for insurance. I own the home outright and have upgraded to all the safety features one can to protect my home from damage.
Jul 26, 2021