Work From Home? Make Sure Your Renter's Insurance Policy Covers Your Home Office

Around 30 million people work from home at least one day a week in the United States. If you count yourself among those who works from home at least once a week, you may want to check your renter's insurance policy to make sure that your home office equipment is covered under your current policy.

Find Out The Home Office Limit On Your Renter's Insurance Policy 

Most renter's insurance policies offer coverage for your home office. However, there is often a home office coverage limit built into your renter's insurance policy. The easiest way to figure out the built in home office coverage limit is either look over your policy or call and ask your insurance agent how much home office coverage you have with your current policy. Often, the amount of home office coverage is relatively low. 

If The Home Office Limit Is Too Low, You Have A Few Different Insurance Options

If your renter's insurance policy does not cover your home office equipment or does not offer enough coverage for your home office equipment, you can get the coverage you need in a few different ways. 

  • Endorsement: You can add a home office endorsement onto your renter's insurance policy. An endorsement will essentially increase the amount of coverage you have under your current renter's insurance policy. Your policy will now cover all of your home office equipment as well as business records. 
  • Business Insurance Policy: Instead of adding an endorsement onto your renter's insurance policy, you can talk with your insurance agent about purchasing a business insurance policy. You can purchase a business insurance policy that is specifically designed for home offices. Most business insurance policies will cover all of your business equipment, business records and business assets that you keep at home. 
  • Business Owners Policy: If you frequently have business clients visit your home office, you may need a little something more. A business owner's policy will provide you with multiple layers of protection. It will provide you with property coverage just like a business insurance policy would. However, unlike a business insurance policy, it will also provide you with liability coverage. So if someone is hurt or injured while visiting your home office, your insurance will have you covered. 

Do not assume that your renter's insurance will cover your home office equipment as well as your personal belongings. Make sure you read your policy closely. If you work from home and do not have any visitors, you may need to add an endorsement onto your renter's insurance policy or purchase a business insurance policy. If you have business visitors to your home office, you should purchase a business owners insurance policy in order to get liability coverage.