Re: Insurance ??
So...... As an individual who works from home, this topic has scared the #$%^ out of me. Right now I do not have any of my business equipment or materials insured, nor am I looking to insure them. It's a risk that I'm willing to take since all of its paid for and no bank is asking me to insure them. Fortunately I have the funds to self insure my equipment. Most of my work is consulting to other companies within my industry, however I also manufacture some products that I sell. I have no employees and all deliveries/pickups are done away from my home. Basically it's just me. I use 100% of my basement and about 75% of my garage. Right now my insurance company has not ask nor have they been out to do any sort of inspection, however now I'm playing the "what if" game. So with that said, I've got a few questions:
(1) Those of you who work from home (without employees or customers who come to the house) does your insurance company know and if so how was that handled?
(2) Is there any insurance company who specialize in insuring ones home for people who operate a home based business? Rates??
(3) If my company cancels my policy, will they give me a chance to move the business off site and re-instate the insurance policy?
(4) If something happens, can they deny the claim?
(5) In this day in time with the downturn in the economy I cannot help but feel there are a ton of folks working from home doing either Ebay sales, gun smithing, woodworking and many more!
The Body Armor Dude - Andrew