Home businesses demand specific insurance considerations

It is best not to assume that a home insurance policy offers adequate protection for a person whose home serves as both a place to live and a place to work.

“If anyone, from a messenger to a customer, is hurt on your property while conducting anything related to your business, your home insurance policy may not cover it,” cautions a statement from The Co-operators. “That’s where legal liability coverage comes in to play. It insures a business against accidents and injury occurring on the premises, including any legal expense you might incur, regardless who is at fault,” the company advises.

Legal liability is one of four general areas of coverage that should be taken into account when selecting a home business insurance policy. The others are physical assets, loss of money, and business continuation expenses.