The recent pandemic has forced many to adapt and work from home. Any time you make a change to your current living situation you should reach out to your agent. Your agent can help to make sure that you have the right coverage and adequate coverage in place. Your homeowner’s insurance and personal auto policies were originally designed to cover losses that arose from personal use or risk. Many insurance companies have adapted to add coverage to their policies for some business risk. This coverage often has to be added by special request.
Typically, homeowner’s insurance policies will offer a small amount of coverage for business personal property. An example of business personal property would be computers. Most companies do not often offer coverage for liability arising out of business activity. Each insurance company is different and each at – home business is different. Check with your agent to make sure that you have the coverage you need for your business activity.
We would also advise calling your agent regarding whether it is advisable to change your auto insurance coverage. We wouldn’t typically recommend reducing your insurance limits. You likelihood of being in an accident might be less since you are driving less often. However, the cost of damages or injuries that could occur in an accident have not changed. Your agent may have access to telematics programs that are rated based on actual usage and might offer you a discount. Another thing your agent could advise is changing the use of your vehicle from work/commute to pleasure for some additional savings.