Increasingly, home insurance claims are being rejected because an activity is determined to be a business run from home. The classic examples were honesty sales of fruit on the footpath and a delivery truck parked at home overnight while the business was run from elsewhere. Insurance companies are saying these activities are running a business from home contrary to the home insurance policy so the claims for home damage, totally unrelated, were declined.
How does this affect us? Like me, many here are likely saying in their tax return that the share trading is a business to offset costs. Bingo – house insurance can be cancelled. I am not offering solutions, just making everybody aware.
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