Consultant Property Insurance
Property insurance covers a consultant’s business personal property — money and securities, accounts-receivable records, inventory, furniture, machinery, supplies and even intangible assets such as trademarks — when damage, theft or loss occurs.
A property claim scenario would be if a consultant has their laptop stolen from their car. Another would be if a fire consumes their office destroying their furniture and computer. Some consultants mistakenly believe that their homeowners policy will cover these losses and while that may be true in some cases, often times during the claims investigation process it is discovered that the insured is in fact operating a home-based business and the claim is denied.
Also covered are important records vital to your business. If a computer is destroyed that contains all your tax information the property insurance policy would cover the cost to have those records re-created.
Most basic multiple-peril policies include losses caused by fire and theft, but consultant’s can purchase additional types of coverage if they need it.
For example, a consultant in the Midwest or on the East Coast may want to purchase coverage for snow, ice or sleet damage, while consultant’s on the West Coast may consider an earthquake insurance policy.