No one likes an unpleasant surprise. However, that's what could be in store for you if you don't know what is-and what isn't-covered by your property insurance. Here are 5 common home insurance myths and the realities behind them.Myth #1: My dental practice is located in my home. My homeowner's policy also protects my business.Reality: Some people mistakenly believe that their home policy will automatically provide contents and liability coverage for a home-based business. This is not true. However,if requested, an insurer may grant an extension of these coverages to include the business.Still, it's advisable for dentists in this situation to obtain separate, commercial coverage for their practices. One major reason is that home policies do not provide practice interruption coverage. This component of business insurance provides a benefit to help replace your lost income while your practice is being restored following a disaster (such as a fire). For some dentists, that cost could total tens of thousands of dollars over several weeks.
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