2. What types of Business Pursuits can be Insured as Employee coverage under Homeowners Insurance?
What is Business Pursuits – Insured as Employee Coverage in Homeowners Insurance?
When you own a home, you should have a good quality homeowners insurance policy in place. This type of policy provides you with coverage for a range of potential losses that can occur to your home, belongings and liabilities. But did you know that many homeowners policies also include business pursuits as part of their employee cover?
What is Business Pursuits?
Business Pursuits is a type of coverage that is included in homeowners insurance policies. This coverage pays for the legal expenses incurred and damages paid due to a court case related to activities within the home. This includes activities such as running a business from home or any other activity related to providing services or producing goods in the home.
Benefits of Business Pursuits Insurance
Business Pursuit insurance offers several important advantages:
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- Protection from Legal Expenses: Business Pursuits insurance coverage can provide financial protection from the legal and court costs associated with a court case related to activities within the home.
- Protection from Damages Paid: The policy will also cover damages paid out in a court case. This includes any amounts you may have to pay to someone else for costs such as medical expenses, stolen items, and damage to property.
- Peace of Mind: Having the protection of Business Pursuits coverage gives you the confidence to know that you are insured against the potential losses that can occur from running a business from your home.
When is Business Pursuits Insurance Necessary?
Business Pursuits insurance is usually necessary if you are running a business from home. For example, if you are selling products online, providing services (such as tutoring), or engaging in any other activities that require you to have the business-like space of your home, this type of coverage can help you protect your assets and liabilities in the case of a lawsuit.
Conclusion
Business Pursuits coverage can be an important addition to your homeowners insurance policy if you are running a business from your home. This type of coverage helps you to protect your legal expenses and damages paid out in a court case, giving you the peace of mind that you are covered if something goes wrong.