by Insurance Maze » Fri May 23, 2008 01:42 pm
As more and more people are starting a business venture from their homes, homeowner's insurance policies are getting a little more confusing.
Many home insurance policies provide endorsements for "incidental business" coverage, but most people don't realize that there is absolutely no business liability insurance coverage offered in the home policy.
Just as we separate our business from our home for income tax purposes, shouldn't we also separate our business from our home for "insurance"
purposes?
Maze
Many home insurance policies provide endorsements for "incidental business" coverage, but most people don't realize that there is absolutely no business liability insurance coverage offered in the home policy.
Just as we separate our business from our home for income tax purposes, shouldn't we also separate our business from our home for "insurance"
purposes?
Maze
Posted: Sat Aug 16, 2008 07:38 am Post Subject:
please reply to my question
MY friend has just gone to India from US and he wants to know the policies regarding home business insurances in India...
Can anyone of you here help him..
Posted: Wed Sep 24, 2008 03:44 pm Post Subject:
Ditto with slippy. Allstate offers various "Home Business" coverages with the HO policy that will protect computers, records, etc. These coverages are very inexpensive.
I would definitely recommend them to anyone who operates a home business.
Posted: Tue Oct 07, 2008 07:22 am Post Subject: hi, both business and home are different
you can take seperate insurance for both, as there is no boundation to take more than one insurance. you must contact with some good insurance providers or brokers for
Posted: Thu Jan 22, 2009 06:46 am Post Subject: hi need some help
Hi, I need some help. I'm from India & working as a professional Internet Marketer (home based business) I'm looking to go for business insurance. But I have absolutely no knowledge about these things. Can someone please guide me about what kind of business insurance I should go for?
Posted: Mon Jan 26, 2009 04:35 pm Post Subject:
hey, what happened? kindly give me more details about business insurance
Posted: Tue Jan 27, 2009 04:08 am Post Subject:
Hi Horizon, we would be more than glad to help you, but, since most of the community members in this site are from US IMO they couldn't be of much help to you in Indian context. I'm sure that business policies are available in your country. You may need to contact an agent regarding policy details.
Make sure that you obtain both liability and coverage for your business properties- the building, inventory, records and the like.
Posted: Mon Feb 02, 2009 05:06 pm Post Subject:
Hi everybody, I'm not sure if I'm posting my query in the right topic. But still it will be very kind of you to help me..
I'm a professional internet marketer working for a US based company. It's purely a home based business. Now I want to know is there any business insurance for this kind of business & is is necessary?
Posted: Sat Feb 28, 2009 06:04 am Post Subject:
Horizon,
I think there are still some outstanding questions about your situation before anyone here can answer it. First, keep in mind that most of us are from the US, as Rupert indicated, so it might be different in India. You should speak to your Indian agent.
That being said, in the US, you could PROBABLY endorse your homeowners policy to meet your needs. I say "probably" because you would need to know a little bit more about your company's coverage. We are talking about home-based businesses, but you say you "work for" a US company. Are you employed by the company and working at their direction? Or do you work as an independent contractor and merely sell the US company's products? If it is the latter, you will need more coverage than if you are an employee.
Next, if you are independent, do you make anything yourself, or ONLY sell the company's products? The reason I ask is that an endorsement to your homeowners policy probably will not cover products liability. If you need this coverage, you should look at an in-home business policy.
Also, if you are doing Internet marketing, you probably post a lot of things online. For this, you should probably have personal injury and advertising coverage, which an endorsement to your homeowners policy probably will not cover. You might need an in-home business policy.
In the US, there are a few companies that offer a specialized in-home business policy that is like a mini-Businessowners Policy. It is less expensive because it is for smaller business that operate out of their home. Unless you are an employee of your company, then you might want to ask your agent about it.
I hope this helps.
Posted: Sat Mar 21, 2009 05:01 am Post Subject:
do you make anything yourself, or ONLY sell the company's products?
I sell various products on internet. Most of the companies are from U.S.A.
In the US, there are a few companies that offer a specialized in-home business policy that is like a mini-Businessowners Policy.
That sounds nice. But I'm from India & talked to some people regarding this issue. But most of the people said There is no such separate policy for home business owners.
Posted: Mon Jan 04, 2010 07:36 am Post Subject: feedback
This kind of skills are very useful for my business so thank you so much.
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