How to Identify Coverage in a Business Pursuits' Endorsement. When looking at insurance, you want to make sure you have the coverage for every foreseeable loss that could affect your financial future. Everyone knows about homeowner's, renter's and auto insurance, but it's tough to know how to identify coverage for things like a business pursuits' endorsement. Here's how to find out more about your business pursuits' endorsement and what coverage you need.
Know your income level. If you baby-sit for friends and family and receive even a modest income, you need coverage if one of them gets hurt under your care. The minimum income level in general is $2,000 a year on homeowner's polices. If your income is above this, check with your agent to see what business pursuits' endorsement is right for you.
Consider expanding your business liability coverage by purchasing the business pursuits' endorsement, HO 24 71, when all you need is liability coverage. This covers you if someone sues you as a result of conducting business, but does not cover structure loss.
Check your property usage. If you store goods for sale in a shed, most insurance companies consider it business property and it needs a separate business pursuits' endorsement. The endorsement called HO 07 01, or the Home Business Insurance Coverage by insurance professionals, covers structures used for business pursuits from your home, including liability.
Add a Home Day Care endorsement, HO 04 97, when operating a day care out of your home. If you care for children or the elderly in your home, you need this specialized coverage.
Cover your computer by adding the Special Computer Coverage endorsement, HO 04 14, to your policy if your work depends on technology.