The right insurance coverage helps protect you from the unexpected, but sometimes it’s hard to know which coverage you really need. Some insurance is a must, while other types of coverage may not apply to your business or the risks you face.
Not all home inspectors operate out of a physical business location or use equipment or tools for inspections. But for those who do, business personal property insurance for home inspectors is a wise choice for protecting your business’s personal property.
What Is Business Personal Property Insurance for Home Inspectors?
Business personal property insurance is coverage designed to protect a business’s physical assets. Your business can obtain coverage whether you lease a commercial space for your business from someone else or operate out of your home.
Business personal property insurance helps protect all the property you need to run your business. This can include:
- Tools and equipment used for inspections
- Furniture, such as couches desks and chairs
- Computers, tablets and other office equipment used to run your business
- Essential documents and records
- Other property
The coverage you need will be tailored to the specific risks you face, so that your business’s physical assets are protected from the potential losses you may face.
Who Needs Business Personal Property Insurance?
Any home inspection business that rents an office or workspace, owns or leases tools and equipment or maintains records and documents should consider business personal property insurance.
It’s important you’re protected, because anything could happen to your property, from a fire to storms, burst pipes or theft and vandalism.
Home inspectors who lease a commercial property are typically responsible for maintaining the insurance necessary to repair or restore the space in the event of damage.
What Does Business Personal Property Insurance Cover?
Business personal property insurance protects you day and night from the possibility of something unexpected happening. A typical policy protects you from common hazards, such as:
- Burst pipes
Some other hazards, such as floods and earthquakes, usually aren’t covered under a standard policy but can be added if needed. Business personal property coverage can help pay for repairs or restoration if you suffer one of these covered losses.
Why Do Home Inspectors Need Coverage?
Your livelihood is at risk from anything that might happen that could cause damage to your business’s personal property.
For instance, consider these possibilities:
- You lease a space at a new office complex. Just after you move in, an electrical problem at the building causes a fire and your office suffers smoke and water damage.
- Your car is broken into and your radon testing machine, tablet, printer and other tools are stolen.
- A pipe bursts on one of the coldest nights of the year. Part of your office is flooded and some of your rented office furniture is ruined and must be replaced.
- You leave testing equipment in a vacant house. When you arrive back to collect the samples and your equipment, you find it’s been stolen.
With business personal property insurance, you can rest easier knowing you’re protected from these and other risks facing your property.
Where to Get Business Personal Property Coverage?
If you run your home inspection business out of a physical location or your own or lease tools or equipment, you need business personal property coverage for home inspectors to make sure you’re protected.
With Lockton Affinity, you can get the coverage you need for your business property.
Lockton Affinity policies are designed to protect you from the risks you face as a home inspector. With our industry expertise, dedicated service and quick and easy application process, our coverage makes it easy to get the coverage you need. Contact Lockton Affinity to learn more.