Do I need business insurance for my equipment?

"I work from home and I have a laptop, some monitors, and a printer that I can't afford to lose. I thought my renters insurance would cover this equipment, but my friend says I need to get separate business insurance. Is my friend right?

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Answer
“If your employer owns your work equipment, it’s their responsibility to repair or replace these items for you. If you are self-employed or if you purchased the work equipment yourself, you will want to make sure that you have the necessary extra protection since your coverage limit may be too low. With most renters insurance policies, you can add endorsements to expand coverage for work equipment.
If this is for a business that you own, you can also look into getting business insurance. At a minimum, you would want to consider getting property and liability coverages. “
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Alexah Grinnell
Answered on Apr 08, 2021
Alexah Grinnell has been working in the insurance industry for 5 years with a primary focus of coverage consulting in the sales department. She has been working for Jerry Insurance since July of 2019 and has also has experience working for AAA and State Farm. She currently lives in Rochester, NY with her husband and 3 kids
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