
By Melissa Davidson
2020 has been unlike any year before it. Did you ever think that your four-legged friend would be your new co-worker? Or you’d become a full-time teacher while your children learned from home?
For many people, COVID-19 required you to work from home instead of the office. Maybe it has been more cost effective to be able to work from home, but are you sure your type of business is covered by insurance while doing so?
Setting up headquarters at your home does not necessarily mean homeowners insurance will adequately protect your operations. Actually, home-based business activities may void your home insurance.
So now, what questions do you need to ask yourself?
The answer may depend on what kind of home-based business you are operating. Do customers or clients come to your home? What is the value of your business property? Do you hire employees? Do you use your car or other vehicles during your business operations? Do you have clients or employee records on your computer? If you had a loss that damaged your home, would you lose income if you had to close your business?