The effects of the COVID-19 pandemic are being felt in every aspect of a business. Insurance coverage for business equipment at the office may no longer be enough. As people migrate their offices to home, there is a need to ensure that they are sufficiently covered. The kind of property risk at home is quite different from that in the office. Similarly, your approach to property coverage should be different, especially during the pandemic.
What a Standard Homeowner’s Insurance Covers
Standard homeowners’ insurance covers your business property up to a certain amount. In most cases, the limit is relatively lower compared to other types of coverage. Typically the business property coverage may be anywhere within the range of $1,000 and $2,000. The big question is how do you cover this during the coronavirus period if you have moved your office to home.
How to React to Coronavirus Pandemic
The effect of the COVID-19 is unprecedented and has made working remotely a norm. Most self-employed and business owners have been forced to move their business equipment to their homes. The limited business property coverage may no longer be enough for such coverage. In most cases, your property may be exposed to more risks at home than they were while in the office. Consequently, you may consider taking additional policies to make sure you are fully covered.
As people continue to react to the pandemic and take necessary measures, you need to consider your business equipment coverage. Make sure that your livelihood is covered against perils like theft and damage. At Jeff Johnson Insurance Agency, we provide guidance and help to those looking to bolster their insurance cover in the Greater Des Moines area. This would be an ideal time to get higher coverage limits for your business property or getting home business endorsements.