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Insurance For Home Offices

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You should check your specific homeowner's insurance policy, but most homeowner's policies don't cover home offices. Usually, they cover a maximum of $1000 to $1500 in computer equipment in a home, and most home offices have much more equipment than that, if you count computers, printers, fax machines, and all the software that goes with them. In addition, if you have customers, associates, or delivery people coming to your home office, you should have liability insurance, as well, that covers you in case someone is injured on your property.

Home Office Insurance

Look for an insurer who will offer you a rider for your home business, or offers a separate policy. That policy should offer increased coverage for your home computers and peripherals, loss of data or information (important in instances of computer identity theft), liability insurance if you have visitors to your home office, and loss of equipment due to theft or damage. Some policies may cover the costs of loss of business in case of damage or disaster, you should check with your insurance agent to find out if your policy covers these losses. This is often referred to as "business interruption insurance." Think about what would happen if you couldn't use your home office for several weeks or months. How would that impact your family's income and savings? Including this insurance in your policy for your home office is crucial if a loss would severely impact you financially.

How to Get Insurance for Home Offices

The first step is to inventory your equipment and supplies. You should have a full list of all your home office belongings to give to your insurance agent so they can give you a quote on a home business policy. You should also have an idea of what it would cost to replace every item in your office in the event of theft or loss. Also look at data loss. If you store critical client information on your office computer, and others have access to that computer (like employees, cleaning people, or clients), you could have an added risk of data loss that should be addressed in your policy.

With so many people working from home today, insurance for home offices is crucial to your financial and business success. If your insurer won't insure your home office, look for a company that does offer home office insurance in addition to traditional homeowner's insurance to keep your business safe and secure just in case disaster or theft occurs.

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