Now that more Americans are staying at home to work, you will want to check if your home insurance actually covers this new aspect of your life. You’re often only covered for up to $2500 for damaged or stolen business property but work or business liability is a whole other issue. So, before you contact your insurance agency for a good deal, let’s look at how to protect yourself when you’re working from home.
Are You Covered?
Homeowners insurance is very different from business insurance. One protects your home, the other protects you doing business. This is because your risks as a homeowner are very different from the risks you pose if you work from home, things like your work laptop, computers, and other technology will be capped off at a certain price. So, if you have homeowners’ insurance, you are essentially partially covered,
How To Fill Gaps
Before you choose a great home insurance company in Clifton Park NY, you will want to know that there are different types of insurance depending on the type of work you do. This is commonly discerned into two categories: full-time employees with a company, and independent contractors. This is done to protect independent contractors who often have to pay for insurance out of pocket, versus those employed, where their employer pays for the insurance.
Before we continue, it’s important to always check with the right people if all of this is correct before proceeding. For example, before covering any gaps as a full-time employee, you will want to check with your employer what they cover that you need to make up for. If you’re an independent contractor, you may need to check with your insurer directly to see how they can help.
If you work full time, you will already usually have coverage for the following from your workplace:
- Any business property provided for you to use when working at home.
- Limited coverage for personal property for work-related things.
- Workers’ compensation for injuries that happen while working.
- Liability coverage for business-guest injuries.
If you’re an independent contractor, you will usually have a business insurance policy, and this will often cover:
- Your business-related property both on and off your premises.
- Business liability both on and off your property or for issues with your work.
- Insurance for any interruptions that cause you to halt or stop business operations temporarily.
If you need guidance as someone working from home, NY Insurance Hub is on hand to help, with their team of independent agents on hand to give you all the information you need.
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