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If I Run My Business From My Home Does My Homeowner’s Insurance Cover Me?

Many business owners run their company from home, as this number will only continue to grow as remote work continues to become even more popular. While working from home offers plenty of benefits, it does pose a few different challenges. One important question to know is if your homeowner’s insurance will cover you if you are managing your business from home. Most homeowner’s insurance policies have limits on the types of losses impacting a home-based business, as it’s essential to understand the details of your policy.

Here are a few of the main things to consider if you are managing your business while working from home. 

Clients Visiting Your House
Sometimes clients will visit the home of a business owner for a meeting to discuss various matters. You may even provide specific services for clients, such as being a private tutor or therapist. However, it’s important to remember that homeowner’s liability insurance may not cover you completely or any at all if a client is injured at your home or property. You will most likely need a business policy to cover these situations. Reaching out to an insurance agency is essential in discussing your policy to ensure that you are well-protected for any potential issues with clients visiting your home.

Equipment for Work
Most business owners rely on in-house equipment for business purposes. Unfortunately, problems with your laptop may not be fully covered under a traditional homeowner’s insurance policy. The majority of these policies limit the amount of value or use of business equipment. It’s often recommended to consider a business insurance policy or commercial property insurance if you need full coverage for these items. Discussing these details with your insurance provider is key in learning the details of your policy.

Access to Sensitive Information
Keeping sensitive data safe and secure is essential for anyone working from home. A data breach or the loss of confidential information from clients can expose you to liability lawsuits. Purchasing a small business policy will most likely cover you for these situations, as it’s important to reach out to your insurance agency to ensure you are protected. Staying proactive by asking questions can help you avoid becoming the victim of a liability lawsuit that can ruin your business.

Offering Strategic Recommendations to Clients
Offering guidance or strategic recommendations to clients is an aspect of many businesses. While these services are often lucrative, they also expose you to potential lawsuits if a recommendation results in a significant loss of money or if it damages your client’s reputation. The safest option is to purchase business liability insurance to ensure you are well-protected from these situations. Business liability insurance will also cover anyone associated with your company, which makes it a great option if you have several employees.

Different Types of Coverage
The insurance you will need for your at-home business is primarily dependent on the services you offer. For example, a standard homeowner’s insurance policy might be all you need if you don’t have any customers visiting your home. On the other hand, you will either need an in-home business endorsement or a business owner’s policy if you have regular customers visiting your house. Consulting an insurance agency is essential in determining the best type of coverage to meet your needs.

Comparing Your Options
Choosing a business owner’s policy is often a great option for anyone working from home. However, finding the best insurance to meet your needs while staying within your budget isn’t easy due to the variety of options. One way to overcome this common challenge is to partner with an insurance agency. These professionals will compare numerous insurance carriers to help you choose the best option available. Working with an insurance agency can save you a lot of time, and it’s a more cost-effective option than trying to handle everything on your own.

Reach Out to Wellcovered Insurance to Learn More About Homeowner’s Insurance
Wellcovered Insurance can help you find affordable homeowner’s insurance, as we work with more than 30 insurance carriers across the nation. Our experienced team can answer any of your questions and discuss the benefits of getting a business owner’s policy if you work from home. We are one of the most highly rated insurance agencies on Google Reviews, as we take pride in meeting the different needs of our clients in Volusia and Seminole Counties.

Our company also offers many other types of insurance, such as car, RV, motorcycle, condo, rental, flood, general liability, commercial property, and many other options. Keeping an active role in the local community is a core value of our company, as we are a longtime member of the Deland Breakfast Rotary and the West Volusia Regional Chamber of Commerce.

Providing top-quality customer support is always a priority. All of our phone calls are monitored, as we will always return your call on the same day. We can even give you an auto quote in 15 minutes, and it only takes one or two business days for a homeowner’s insurance quote.

Feel free to reach out to Wellcovered Insurance today to schedule a consultation and learn even more about using our services!