Moved During the Pandemic? You May Need to Update Your Insurance.


“Most people’s home internet devices were basic and rudimentary. Unlike their offices, their homes didn’t have cutting edge virus software or high-tech internet security systems they needed, which created more risk for online theft, stolen identity, hacking, data breach and piracy violations,” said Mr. Wolfson, who suggested inquiring about cyber liability coverage.

“Most higher-end residential insurance companies offer this as an add-on to a home insurance policy,” he said. “There’s even cyberbullying and breach-of-privacy protection.”

Aside from covering and reimbursing expenses such as credit monitoring and legal fees, this kind of coverage can also help you get in touch with credit agencies and your banks, and reissue important documents. However, if you are with a company that doesn’t offer cyber liability protection you will most likely need to move your homeowner’s insurance to a new carrier, Mr. Wolfson added.

Some people have used whatever space is available inside, while others have turned to the outdoors, converting garages, yards and even newly constructed sheds into unexpected offices. And yes, there’s a policy for that. “Working from home isn’t going away so quickly,” said Sean Burgess, the chief claims officer for Lemonade, a global digital insurance company based in Manhattan. “The question to ask is, How does your existing policy apply to the new belongings you have in your home now that you’re utilizing them for business?”

“Some people brought their old office into their homes — that meant monitors, computers, product inventory, among other items,” Mr. Burgess added. He recommended asking the company who would be responsible for these items if they were stolen or damaged, and for lost wages. “This is a gray area because it’s your company’s property, but ultimately these items are on your property,” he said.

Traditionally, Mr. Burgess explained, policies cover up to $2,500 of business- or work-related items on the premises. If you’re traveling with the item, that coverage is reduced to $1,500. He suggested inquiring about small-commercial- or small-business policies, which are usually tacked on to your homeowner’s plan. “Whatever type of building you’ve created to work in, you want to make sure you’re covered for that stand-alone work space,” he explained. “Small-business insurance plans also add additional personal liability for damages and injuries than homeowner’s do.”


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