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    Operating your Business at Home – know your risks and how to insure them


    Your home is your sanctuary. Whether that space is owned or rented, this is the space that ensures your peace of mind. But what happens when your home is also the office, but it isn’t insured? What protection does your home office have against natural disasters, fires, burglary, or other unforeseen risks to valuable business tools and resources? 

    Property Insurance Guarantees Peace-of-mind 

    Business owners are no strangers to working at home, and with the advent of an unprecedented pandemic, far more business owners began operating from the home space. A decision like this is undoubtedly a smart move, considering the operational cost of a business. 

    However, in trying to cut costs, don’t forget the importance of insurance. While your home allows you to save on a separate business space, it multiplies the risk of potential loss of business contents and valuables.  

    Homeowners insurance provides comprehensive coverage, protecting your home and its contents against: 

    • Fire & Lightning
    • Hurricane, Cyclone, Tornado, or Windstorm
    • Flood
    • Earthquake & Volcanic Eruption
    • Riot & Strike
    • Malicious Damage
    • Explosion
    • The impact from Aircraft & other Aerial Devices
    • Impact by Road Vehicles, Horses or Cattle
    • Bursting or Overflowing of Water Tanks, Apparatus, or Pipes
    • Theft
    • All Risks cover certain items
    • Burglary
    • Legal liability to third parties

    The peace of mind that this coverage secures is worth the investment. 

    It Doesn’t Matter if your Property is a Rental 

    You may be thinking that this kind of insurance coverage doesn’t possibly apply to you if you’re living in a rental property – wrong. The “Property Protection Insurance” doesn’t stop at homeowners insurance. It includes Commercial All Risks and Fire and Allied Perils; all of which provide coverage to your rental space and its valuable contents.   

    A “All Risks” policy is a type of insurance coverage that can exclude only risks that have been specifically outlined in the contract. “All risks” means that any risk that the contract does not specifically omit is automatically covered. 

    “Consequential Loss/Business Interruption” insurance is also available under the “Property All Risks” insurance and is very popular among business owners. When a financial loss occurs from unforeseen events like natural disasters or losses due to an insured peril like fire or burst pipes this insurance protects your business and your peace of mind. It covers the temporary loss of income that a business suffers after a disaster leads to its operations coming to a standstill. 

    Whether you’re operating from your home or someone else’s through rental, this insurance plan will work for you so that your business works. 

    Getting your Property Protection 

    Securing property insurance is simple. Email General Accident at infott@genac.com for more information on the property insurance coverage that is right for you as work to take your business to the next level. You may also visit genac.com and request a quick quote for the best insurance package for you. 

    © 2024 General Accident Insurance Company (Trinidad & Tobago) Limited