business insurance for consultants

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
PostPosted: Mon Sep 06, 2010 9:37 am   Post subject: business insurance for consultants  

Hi, I'm a real estate consultant in Chicago and I work from home. Is my home owners insurance enough to cover my risks?


_________________
Register Now to have your Insurance queries solved.
hornbill33
Guest







PostPosted: Wed Sep 08, 2010 7:10 am   Post subject:   

What will happen if you get sued by your clients for a certain failure? If you're not covered for such risks, then you'll end up damaging your financial stability. Also, you bear the risk of anyone getting injured within your office premises while on a visit. Have you ever thought of that?

steven
Senior member
Leave a quick message

steven

Joined: 02 Feb 2006
Posts: 1546


215.92 Dollars($)

PostPosted: Thu Sep 09, 2010 9:18 am   Post subject:   

The cost to replace your equipments could be covered under an incidental business endorsement. It might also offer some protection for business liability that you might have in the future.

Juanita
Moderator
Leave a quick message

Juanita

Joined: 04 May 2007
Posts: 737

Location: Idaho
137.60 Dollars($)

PostPosted: Fri Sep 10, 2010 7:54 am   Post subject:   

You may consult with your insurer and check if he's willing to offer a comprehensive policy that covers both your business an home at once. These days you often come across good combo offers that cover you for income replacement, liability, fire and theft together. Make sure it covers you for mishaps that occur beyond your office at home.

roddick
Senior member
Leave a quick message

roddick

Joined: 05 Oct 2005
Posts: 957


143.28 Dollars($)

PostPosted: Sat Sep 11, 2010 7:18 am   Post subject:   

IMO you should go ahead and apply for the E&O policy which is just another name for the Professional liability insurance. There are chances that any of your clients might file a lawsuit against you for not performing up to his expectations.



Such claims may also rise out of your failure to ensure data security or negligence. E&O insurance will bear all the legal fees associated with such lawsuits for you. It protects both the independent contractors and employees.



_________________

AmPmInsure Blog
sil
Community Writer
Leave a quick message



Joined: 30 Sep 2005
Posts: 483


89.49 Dollars($)

PostPosted: Mon Sep 13, 2010 3:45 pm   Post subject:   

Homeowner's insurance does not cover the professional liability one might incur as the result of their home occupation. If a client was coming to your home to sign a document, for instance, and slipped on your driveway, breaking their ankle, your homeowner's policy would exclude the loss since it was directly related to your business activity.



_________________

CA-licensed Life & Disability Analyst. CA Insurance Lic #0596197. Also investigating insurance company abuses, and providing litigation support/expert witness services. Send me your questions, and I'll send you my answers.
MaxHerr
Forum Expert
Leave a quick message

MaxHerr
Forum Expert

Joined: 29 Nov 2009
Posts: 7888

Location: Pomona CA
107.67 Dollars($)

PostPosted: Wed Mar 16, 2011 5:10 am   Post subject:   

I think Steven is absolutely correct. While running a business all the aspects must be well thought of to avoid future risks.

KateB
New member
Leave a quick message



Joined: 09 Mar 2011
Posts: 5


1.30 Dollars($)

PostPosted: Fri Jul 15, 2011 2:10 am   Post subject: lxgIFEoHbXmH  

YMMD with that anwser! TX


_________________
Register Now to have your Insurance queries solved.
Kacy
Guest







PostPosted: Mon Jul 25, 2011 9:49 pm   Post subject:   

I don't think home insurance covers business risks, you'd have to go and get a separate policy for your business.

ukbadcredit
New member
Leave a quick message



Joined: 25 Jul 2011
Posts: 2

Location: UK
1.12 Dollars($)

PostPosted: Wed Aug 10, 2011 5:38 am   Post subject: Business insurance for consultants  

Hi,



I am some important information.



A typical homeowners policy may cover as little as $2500 for in-home inventory and equipment (such as computers) and $250 for incidents that occur outside the home. For example, if your laptop is stolen out of your car while at the office of a client, you would only get $250 toward that recovery, at best (and not including deductibles).



Your insurance provider may offer a combine policy that specifically covers both home and business in a single, comprehensive policy. Developed specifically to address the needs of home-based business owners, these types of combo policies usually provide general business coverage (including liability and the replacement of lost income), along with typical homeowners coverage (for theft and fire). It should cover incidents that occur at or away from the home office. Most importantly, the policy is designed to prevent duplication of coverage and is priced affordable for a truly small, home business.





_____________________

Time recording systems

himanshudpfoc
New member
Leave a quick message



Joined: 29 Dec 2010
Posts: 17


3.06 Dollars($)

PostPosted: Thu Aug 11, 2011 11:13 am   Post subject:   

Quote:
(including ... the replacement of lost income)




Not exactly.


_________________

CA-licensed Life & Disability Analyst. CA Insurance Lic #0596197. Also investigating insurance company abuses, and providing litigation support/expert witness services. Send me your questions, and I'll send you my answers.
MaxHerr
Forum Expert
Leave a quick message

MaxHerr
Forum Expert

Joined: 29 Nov 2009
Posts: 7888

Location: Pomona CA
107.67 Dollars($)

PostPosted: Mon Sep 19, 2011 11:30 am   Post subject: loss assessor  

today, insurance field is growing speedily in market so that the value of loss assessors are highly increased. for business purpose this is best option which choose by people.

oliviaskye
New member
Leave a quick message



Joined: 02 Sep 2011
Posts: 11


1.89 Dollars($)

PostPosted: Mon Oct 10, 2011 4:30 am   Post subject: fire damage  

hi.....

i am back again.

home insurance is very necessary for all and all people should take interest in this. there are various damages like fire, smoke, water, flood then home insurance broker or fire damage restoration are used.

oliviaskye
New member
Leave a quick message



Joined: 02 Sep 2011
Posts: 11


1.89 Dollars($)

PostPosted: Wed Mar 21, 2012 12:10 pm   Post subject:   

We all know how significant business insurance plan is for consultants and all sorts of job.



_________________

business insurance
stevenricherd
Preferred member
Leave a quick message



Joined: 03 Mar 2011
Posts: 100


7.84 Dollars($)

PostPosted: Wed May 16, 2012 7:47 am   Post subject: business insurance for consultants  

I think You should prefer home insurance for busoness insurance for consultants.....

katrinawatson650
New member
Leave a quick message



Joined: 01 May 2012
Posts: 15

Location: 845 Third Avenue 6th Floor
2.06 Dollars($)

Quick Reply
Your Name
Subject
Message body
All times are GMT
1, 2  Next  
Page 1 of 2


Get a Quote
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

AmPmInsure on Facebook



Page loaded in 0.222 seconds.