John Baymore on sat 7 nov 98
------------------
=3Csnip=3E
During a recent refinance my insurance salesman (yes, a customer, too) took
pictures of my kilns in my studio to add a rider on the homeowners policy.
The Insurance Company went ballistic=21 My policy is cancelled in 30 days. I
don't want to spend the equity we got on remodeling the studio- we need a
new roof.
=3Cclip=3E
Some insurance companies do not allow any home businesses at all. They
insure residential A type places and that is it. That may be who you have.
They took one look athe the photos and decided by the scope of the
operation that it is a business.
Look at another insurer for your homeowners.
Also join the ACC at the professional level and get their insurance for the
tools, materials, work in process, cash and business papers, inventory,
premises and product liability and so on. Just have a rider on the
homeowners to cover the structure.
Best,
......................john
John Baymore
River Bend Pottery
22 Riverbend Way
Wilton, NH 03086 USA
603-654-2752
JBaymore=40Compuserve.com
James Bretes on tue 10 nov 98
John Baymore wrote:
>
> ----------------------------Original message----------------------------
> ------------------
>
> During a recent refinance my insurance salesman (yes, a customer, too) took
> pictures of my kilns in my studio to add a rider on the homeowners policy.
> The Insurance Company went ballistic! My policy is cancelled in 30 days. I
> don't want to spend the equity we got on remodeling the studio- we need a
> new roof.
>
>
> Some insurance companies do not allow any home businesses at all. They
> insure residential A type places and that is it. That may be who you have.
> They took one look athe the photos and decided by the scope of the
> operation that it is a business.
>
> Look at another insurer for your homeowners.
>
> Also join the ACC at the professional level and get their insurance for the
> tools, materials, work in process, cash and business papers, inventory,
> premises and product liability and so on. Just have a rider on the
> homeowners to cover the structure.
>
> Best,
>
> .....................john
>
> John Baymore
> River Bend Pottery
> 22 Riverbend Way
> Wilton, NH 03086 USA
>
> 603-654-2752
> JBaymore@Compuserve.com
I HAVE A QUESTION ON THIS:
To anyone who might know, if you tried to make a business out of it.
Going through a C.P.A. pay taxes and so on.... you lost you "business
name" and By declaring from the IRS that you are officially a hobby.
Because you have not made a profit....in 5..years. How can a insurance
company deny you coverage. Even from there standpoint, in there
eyes....Your a Business...Not a Hobby. Just because you have more
STUFF?? Isn't the the almight IRS more powerful to decide what is or
what isn't????? In cases like these..
Thanks
Jim
jbretes@voyager.net
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