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Home Office?

Home Office?

Many people are working from home remotely.  No more commute, quality time with family and pets, working in your sweats....for some it's a great arrangement.  Regardless of how it works for you, if you do have an office at home, it's a good thing to realize the limitations placed on Business Property and Business Merchandise, and more importantly the Liability Exclusions that pertain to "Business Pursuits" in your Homeowner Policy.

Standard Homeowner Policy Forms place Special Limitations on Business Property (Business Fixtures, Equipment), and Business Merchandise (Stock, Inventory).   Options to increase the basic amount of Coverage, normally $2,500 for Business Property, are available.  However, Business Merchandise is a more restrictive class of Contents, and many carriers refuse to increase their exposure to Stock and Inventory located at a residence.  

Business Liability is specifically excluded in a Personal Lines Homeowner Form.  If you have a public exposure, we recommend that a Business Owner Policy be purchased.  Issues involving your work product are also excluded, so more reason to purchase Commercial General Liability Coverage contained in a Business Owner Policy.

At the very least, for those working from a Home Office, it's wise to review your Home Policy to familiarize yourself with the Limitations on Business Property/Merchandise, and decide if a Business Owner Policy is in order.