Why You Need Umbrella Insurance if You Work From Home

Work from home, and you have the pleasure of working in a field you love, making your own hours and avoiding a long commute. Unfortunately, you're also at risk of being sued if you make a mistake, cause an accident or invade someone's privacy. You need the liability protection that umbrella insurance provides.

What is Umbrella Insurance?

You already have homeowners or renters insurance that covers your home's structure and belongings, but working from home brings an additional set of problems your current insurance may not cover. You could accidentally share a client's personal data or fail to deliver on a promised deadline. In both cases, you could be sued and lose your home, vehicle and other assets.

What Does Umbrella Insurance Cover?

Umbrella insurance provides liability coverage as it protects your assets and gives you peace of mind. While umbrella insurance policies vary, most cover:

*Damage caused to someone else's property

*Injuries received during an accident

*False claims

*Invasion of privacy

*False arrest

How Much Does Umbrella Insurance Cost?

There's no standard industry fee for umbrella insurance, so you'll need to discuss cost details with your agent. However, coverage is usually available in increments of one million dollars, and the average cost per million in coverage is $200-$300 per year.

Why do you Need umbrella Insurance if you Work From Home?

Because you work at home, you alone hold the responsibility for your mistakes and liabilities. You don't have a company or corporation backing you up and covering any lawsuits you may face. Instead of risking your home, vehicle, business and other assets, invest in umbrella insurance.

In today's lawsuit-happy world, umbrella insurance is one asset that's almost a necessity as you establish, maintain or grow your work from home business. Call your insurance agent right now and discuss your specific business and insurance needs. You may need the coverage and peace of mind it provides. 

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