While the coronavirus does not have a direct impact on your homeowner’s insurance, the changing circumstances of your life may mean that you should review your personal property and liability coverage. If you are now working from home, you are likely to use more business equipment and electronics. A standard homeowner’s policy has low limits of coverage for business property, typically from $1,000 – $2,000. If this is not enough, you’ll want to consider a business endorsement. Liability is another coverage to review. With so many more families at home, you want to be mindful of attractive nuisances like a pool, trampoline, and even a dog. It’s important to know the limits of your personal liability coverage. Much of the claim process has gone virtual, with filing online or through a mobile app. Depending on the severity of a claim, an adjuster may inspect the damage onsite. The process may be a little slower, but it is working. Also, many insurance companies are offering payment solutions for customers experiencing financial hardship during this crisis. It’s important not to let your insurance lapse as this could cost you more in the long run. Now is a good time to review your policy. Contact us.
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