Insurance In The Home Office
Life Insurance
If you have a private life insurance policy that wasn’t linked to your old job - great you’re covered. If your life insurance policy was included somewhere in your old jobs pay check, read on.
Having a family or dependents makes life insurance an essential part of your risk coverage. Just as with all insurance we recommend you speak to your broker or insurance company about the policy that bet fits your financial situation. However bear in mind that people often tend to under insure. There are many hidden costs in the untimely death of any family member especially if that family member was the bread winner. Try taking into account every possible expense that might arise from your untimely death when selecting your policy, does your partner currently have a job and if not how much will it cost to make them employable again for example.
Finally remember that your life insurance rates will depend on your risk factor. The more risk you have in your life the higher your premiums are likely to be, now might be a great time to quit smoking and start cycling!
Renters Insurance
If you’re currently renting your home, apartments, condo, flat or room you most likely don’t have insurance. Damage or loss to your business equipment from theft, fire, flood or other natural disaster could send your home business right down the drain.
That said, insurance is a tricky business. Insurance companies are always looking to devalue your assets when you make a claim or even prove that you never owned them in the first place. Keeping detailed documentation of all your major assets will ensure you get the highest payout possible. Documentation includes receipts and warranties of all your assets, be extra cautious and photograph your assets in your house. Remember to store all your documentation at a friend’s house or at the bank, its no good in your desk if the house burns down.
Also know your policy, read the fine print to make sure you know exactly what it covers, yes read the fine print. Some policies might require you to itemize your assets or pay additional premiums above and below a certain claim
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