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I’m running a small business out of my home. Do I need to make changes on my house insurance?

Definitely yes! Standard house, condo, mobile and apartment policies are not designed to cover the operation of any business out of the home.

Check your wordings and you will find some or all of the following exclusions: books, tools, instruments, computer hardware and software pertaining to a business, profession or occupation limited to a maximum of $5000 or $6000 (Varies by Company) this limited coverage is only for items on your premises, (in some cases when being transported to your home) samples and goods held for sale are not insured liability coverage excluded when claim results from business pursuits or any business use on the premises

In most cases, coverage can be added to the home policy through standard add-ons … and often at a very reasonable price.

You should consider reviewing your policy if you are involved in any of the following home-based businesses (and more!): baby-sitting drafting bed & breakfast sewing music lessons catering aesthetician hair stylist telemarketing consulting farmers market handicrafts bookkeeping appraising financial planning framing

Add-on coverage packages remove the exclusions for business in the home, and add other coverage. The extra coverage is reasonably priced and can include:

contents including stock
computer, incl. Breakdown
property covered in transit and at temporary locations
signage
accounts receivable
valuable papers
business interruption
crime coverage
commercial general liability and tenant’s legal

In some circumstances it may be necessary to get a separate commercial policy – especially when professional liability coverage is required.

Remember – if you are using your vehicle for deliveries, picking up or transporting clients or supplies, your insurer should also be advised of the change in risk.