Thanks to technology, more people than ever are working out of their homes. Here at Kingdom Tree Insurance Group, providing insurance services in the greater Tallahassee, FL area, we are often asked what impact this has on homeowner’s insurance. If you have a home business, here is what you need to know about how the business can affect your homeowner’s insurance.
Does a Home Business Affect Your Homeowner’s Insurance?
A home business can affect your homeowner’s insurance policy. Some policies will ask you if you have a home business. If you do, and you check yes, the policy may cover your home business items, including your computer equipment, home office, and any products that you store in your home. Other policies will specifically exclude anything to do with a home business from being covered. You have to carefully read through the policy and the exclusions to learn whether your coverage excludes home business coverage.
If your home business is covered under your homeowner’s insurance, the next thing you will want to do is ensure you have the correct coverage level. You need to ensure that your coverage level is high enough to cover any items that may be damaged or stolen. Many people often fail to increase their home insurance coverage level when they decide to run a business from their home. This can financially harm you if your policy level is not high enough to cover everything.
If you have a home business, it is crucial that you ensure that your homeowner’s insurance covers the business and provides the level of coverage to adequately protect any items you may have stored inside of the home. If you are in the market for a new homeowner’s insurance policy in the greater Tallahassee, FL area, let us at Kingdom Tree Insurance Group help you. Contact us today to get started.