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Business Insurance News - Home Office Insurance Special Report



Protecting your Home Office with the Proper Business Insurance


September 13, 2009 —If you run your business from your home, you will need to figure out how much your office equipment is worth. This is a pertinent detail that needs to be taken care of in order to get the adequate amount of business insurance . Research shows that 50% to 60% of all home businesses are uninsured. The issue surrounding this is that if an unfortunate event were to happen, you would be held liable for all your items that you would require to run your business. If you had a business insurance policy, it would have assisted with covering the expenses of these items.

Most home based business owners or entrepreneurs are under the misguided impression that if something happens to their business equipment that their basic homeowners insurance will be enough to cover them. This usually will not happen. A homeowner’s policy will usually cover a maximum of $2,500.00 for all of your office equipment, and only a maximum of $250.00 for a laptop.

Your homeowner’s insurance will not cover any items that should have been covered under a business liability policy, any loss or damage that has happened due to Cyber-crime, any damage or loss with your business records, or any interruption that incurs do to loss or damage.
Most entrepreneurs who work from their homes have a very efficient home office. Many of these home offices have a printer, computer, desk, phone, fax, scanner, and other miscellaneous items and will total an amount of more than the $2,500.00 that the homeowners insurance would cover.

There are many ways of insuring your home office.

1. Homeowners Endorsement: Many companies now offer this as an add-on. It is an endorsement for the office and is in addition to the homeowner’s policy.


2. Separate Business Insurance: You can purchase a policy that is outlined just for your business to help protect you from losses associated with your office in your home.


There are several different ways to insure your home office.


3. Business Owner’s Policy: This type of coverage is meant for small businesses and will also protect property and liability in association with your business equipment and any customers that arrive on your property for business purposes.

4. Home Office Insurance : This is a modification of the business owner’s policy and endorsement. This business insurance will protect against destruction and business property and information loss. This is normally a packaged policy that will cover homeowners insurance and auto insurance.


The first thing you should do is figure your risk assessment and the amount of protection you will need to be able to continue your business dealings.



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