Insuring a Home Office

If you work in the real estate business, chances are you have a home office, but do you have home office insurance?

According to research from the Independent Insurance Agents & Brokers of America, at least 60 percent of in-home entrepreneurs are not properly insured.

You may not think that operating a home office or a home-based business carries greater liability than simply living in the house, but your insurance carrier probably has a different opinion. Most homeowner's policies limit loss of business property to $2,500, don't cover losses away from the home, and exclude liability coverage for business-related activity.

Coverage for business-related items is probably limited or not included in your homeowner's policy.

Take an inventory of your home office and any off-site equipment you use and determine what additional coverage you need. Here are a few items to consider:

• Furniture, equipment, and supplies
• Inventory
• Money and securities
• Records of accounts receivable
• Improvements and betterments you made to your property
• Machinery
• Data-processing equipment and computers
• Valuable papers, books, and documents
• Mobile property, such as cars, vans, trucks, and construction equipment
• Signs, fences, and other outdoor property
• Intangible property (goodwill, trademarks, etc.)

Read the full article and get tons of information on these topics:
Home Office Policy Options
Homeowner's Policy Endorsement
Insurance Coverage for Home Office Equipment

Read the full article by Equifax blogger Linda Rey here: http://insurance.equifax.com/2010/08/insuring-home-office.html