Page 16 - AAA Every Day – AAA Hudson Valley – March/April 2021

Home Office Protection
Whether you have been working from home for a while or you started doing so in 2020 as part of the WFH movement, you may not actually be properly insured for it. It is important to point out “special coverage” options that may be available to help protect your personal belongings.
On a renter’s policy, for example, coverage C (also known as Personal Property coverage) has a limit – typically $25,000 to $50,000 based on the number
of people in the household, how large the living
space is and what you own. At the time of a claim,
the adjuster will work with the insured to determine exactly what belongings or personal property the
tenant or homeowner owned. However, many customers are surprised to find out that most insurance carriers put a limit on certain items like computers, electronic apparatus, jewelry, money and a few other miscellaneous belongings. Depending on the insurance carrier, the limits could range anywhere from $200 to $2,500 per item, often up to an aggregate limit. You can find this information in the policy packet you first receive from your carrier.
With many people now working from home, some for the long haul, it’s even more crucial to understand how certain items are covered. Are you sure your current limit is enough to replace your personal computers, TVs, cell phones or office equipment in the event of a possible fire claim? Check your coverage and find out whether or not
Shutterstock: LightField Studios
you are responsible for replacing your work equipment in the event of such a loss. These are important distinctions to be made. No one wants to be caught off- guard with unexpected or costly expenses.
Special package endorsements are available from some insurance carriers, however, most carriers will offer increased special limits on such items as jewelry, computers and money. If you decide to add one
of these endorsements to your current policy, it is important to take inventory of your belongings using video, photos and a written list. At the time of a loss, this is an enormous help to both you and your claims adjuster.
“Home Business Package” from Safeco Insurance, for example, is an endorsement that can be added to a homeowner’s or renter’s policy. With limit options up to $25,000, it provides coverage for:
• Internet connectivity equipment
• Tools and office supplies
• Computers and monitors
• Cell phones, smartphones and tablets • Office furniture
With this additional coverage for electronic apparatus, for a minimal additional cost, it’s well worth the price for peace of mind. To determine the best package for your WFH needs, contact a AAA Hudson Valley Insurance Agent at 518-426-1000 or visit AAA.com/Insurance.
Eman Badr is a Certified Professional Insurance Agent and Manager of AAA Hudson Valley Insurance Agency.
16 I MAR/APR 2021