Running a business out of your residence can mean that you no longer have the coverage that you need for your property. If you turn your residence into an office, then it may be necessary to change insurance coverage to reflect the new risks associated with the space.
Unlike a personal property, a business property has a greater number of risks and possible problems that may arise. As a result, you need a greater amount of liability protection to ensure that your customers are as safe as possible and that you will not face financial challenges that ruin your company if a client is injured in an accident.
You will need to change your policy to reflect your concerns regarding liability. Depending on the type of business that you own, the coverage that you need may vary.
Adjustments to Property
Changing a private residence into an office space can mean that you made changes to the property that require adjustments to your property coverage. You may need to change insurance coverage to reflect the alterations to the property and structure so that you can feel confident that you have the appropriate coverage for a commercial property rather than a private residence.
An office has a different structure and design when compared to a private house. As a result, you may have different needs when it comes to protecting the building in case a fire or disaster occurs.
Altering your residence so that it is an office for your business means that your needs for coverage have changed. You will want to purchase a policy to reflect the changes to your property. Contact us to talk to an agent for more details about your options.