Insurance Coverage You Need to Work from Home
Business Insurance for Your Home Office
Working from home provides a wide array of benefits, which is why more and more people are embracing the idea of working out of their homes these days —whether it is full-time or part-time.
There are certain things you need to have when you’re working out of an office. One of the most important ones is insurance. Working from home doesn’t eliminate that requirement; it just varies a little bit. So, what do you need to protect yourself from a personal and professional standpoint, when you’re working from home? Here are some of the things you should know.
Your Homeowners Insurance is Not Enough
Even if you have an excellent homeowner’s insurance policy, it is unlikely that it will include anything related to your work from home. For that, you will need a business insurance policy, which will cover any liability or property damage related to your business activity. In some cases, some homeowner’s insurance policies include a small limit dedicated to your business property for professional and personal use. You should talk with your insurance agent to ensure you understand all the ins and outs of your current homeowner’s insurance policy.
Your Employer May or May Not Cover Your Insurance
If you work for a company that offers the possibility to work from home, your organization will likely have an insurance policy that covers you. For example, if someone steals your laptop from your home or another location that isn’t the office, your organization’s insurance policy will probably cover the cost of it.
A human resources representative at your organization might be the best person to provide you with detailed information about your company’s insurance policy and how it works in this type of situation.
Some of the business insurance policies you might need for your home office may include:
- Incidental home business endorsement
- Business general liability insurance
- Commercial auto insurance
- Business property insurance
- Business income insurance
- E&O insurance
If you work from home, you will undoubtedly need more than just a homeowner’s insurance policy to protect yourself against the unexpected. Reach out to your insurance agent for more information.