Will home insurance cover business?

by Guest » Thu Jul 12, 2012 05:19 am
Guest

I plan on renting the ground floor of my apartment for a business setup? Will my homeowners insurance cover the contents? Or the tenant have to get a separate business insurance?

Total Comments: 1

Posted: Thu Jul 12, 2012 11:58 am Post Subject:

Are you renting out those contents? If they are not your contents then certainly they are not covered.

My recommendation is that you either read your policy to determine what coverage you have or that you speak with your (actual) agent to go over the coverage that you need. Some home owners policies may exclude coverage when the property is used as a business.

You also want to have in your contract with the lessee that they include you as an additional insured under their liability policy and that this policy maintains certain limits. If something happens in that person's business, you could (would) be pursued for recovery as the property owner.

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