The best reason to run a business from home is that you can work as a team and keep your family close. But another great reason is that it can affect your home insurance coverage, especially if you live in an apartment building or condo.
If your business is run out of your home. whether it's just a laptop on a desk or the entire office is set up in the living room. you'll need to make sure that the things you own are listed on the policy.
This can be tricky because many insurance companies don't list things like computers under their residential policies. But they do list cars! If you have a car outside of your home and drive it to work every day, then it's covered by an auto policy. If you have extra cars parked around your house but don't drive them for business purposes, then those are also covered by an auto policy.
But what about laptops? Those aren't covered by an auto policy but they ARE covered by home insurance! So if you're running your business out of your home but not driving any vehicles there, then check with your insurer first to see if they'll cover those costs as well.
If your business is run out of your home. whether it's just a laptop on a desk or the entire office is set up in the living room. you'll need to make sure that the things you own are listed on the policy.
This can be tricky because many insurance companies don't list things like computers under their residential policies. But they do list cars! If you have a car outside of your home and drive it to work every day, then it's covered by an auto policy. If you have extra cars parked around your house but don't drive them for business purposes, then those are also covered by an auto policy.
But what about laptops? Those aren't covered by an auto policy but they ARE covered by home insurance! So if you're running your business out of your home but not driving any vehicles there, then check with your insurer first to see if they'll cover those costs as well.
