If you are part of the growing number of Americans who work from home, your house is much more than a place for you to live and relax. It's where you support yourself and your family. If you run a business out of your home, it's important to acquire and maintain accurate and up-to-date home office insurance. Reach to the experienced professionals at Gray Fox Insurance today to determine what kind of home office insurance is best for you.
Why Do You Need Home Office Insurance?
If you're new to the world of home office insurance, it might seem at first that your workspace and equipment would be covered by a typical homeowners' policy. But in the event of a catastrophe -- say, a customer was hurt on your property and filed a claim against you or your business inventory is lost in a flood -- your policy is unlikely to cover the damage. The average home insurance policy is built with business-related limitations in mind.
In another scenario, imagine that you hire an employee at your business. If something happens to that employee on your property and they are injured, you would personally be on the hook for damages -- unless you have proper insurance in place.
Learn About the Forms of Home Office Insurance
As you write a home office insurance policy, you will need to consider the various potential coverages. A few common forms of coverage tied to home office insurance include:
Business Income Coverage
Business Owners Policy (BOP)
Electronic Data Processing (EDP) Coverage
Equipment Breakdown Coverage
Errors and Omissions Insurance
Workers' Compensation Insurance
Every home office insurance policy will vary, so in order to create a comprehensive policy that matches your situation, consulting the experienced professionals at Gray Fox Insurance Group is key.
Make Sure Your Business is Protected
No matter your business model or line of work, if your livelihood involves working out of your home, home office insurance is a must. We insure home offices in Oak Ridge & Knoxville Tennessee and beyond. Request a free quote now to get started.