N/T - home based businesses and risk exposure re: homeowner's insurance doesn't cover

[jklcpa]

Another topic here brought this back to mind, so I thought I'd start a new topic.  For those of you that operate businesses from your home and meet with clients there, you have risk exposure should someone be hurt on your property and that person was there for a business-related purpose.  Your homeowner's insurance will not protect you from this exposure.  My business was required to purchase a separate general liability to cover that risk.

[NECPA in NEBRASKA]

I have a separate business policy for that and my umbrella policy would help.

[Jack from Ohio]

Same here.  Almost drew my insurance agent in as a tax client...

[rfassett]

Good advice and discussion. I always go over that with my home-based clients - well all clients for that matter. Make sure you are properly covered - the right price for the correct policy. Had one business client come in the other day and told me she saved over $4,000 by taking my advice. I told her that she needs to understand that my advice does not extend to shopping around for accounting and tax services. She said she would never even consider such a thing. Ha!

On another note, the weather has been so crummy here and with lots of ice. Even though my parking lot is in a lot better shape than others I see in the area, it is still treacherous at times. I tell my clients to be careful because I do not have any insurance. My wife tells me that she does not think my client's believe me. :(

[Catherine]

Ditto and likewise.  Business rider on the homeowner policy, to protect me from anyone who slips on the stairs.

[NECPA in NEBRASKA]

I just wish that I could keep them from using the bathroom here. Now that we have three cats, I don't want them to use the downstairs one with two cat boxes and laundry. I hate to have them go upstairs for fear that the older ones will fall. 

[Janitor Bob]

I also added a business rider to my policy.

[B. Jani]

My primary business is insurance and investment. My advise is to have a separate business policy in addition to a rider added to the Home insurance policy

for business use of home. This will help to protect. Must have both not one or other.

[mcb39]

I also have a rider on our homeowners policy.  It was really quite inexpensive.

[Catherine]

I have E&O insurance, a rider on the home office, and a separate business policy for the office-office.  'Round here they will not write a separate business policy on a home unless you have employees -- and when I hired someone, it was when I moved to the office-office.