Depending on your homeowners’ association, your HOA may cover your condo’s cabinets, flooring, and similar elements, or you may be responsible for those features. Either way, your condo insurance policy covers only your personal belongings and liabilities. It will not cover business-related tools and equipment, including office electronics and furniture. If you live in a condo and have a work-from-home business, verify your coverage with your insurance provider. The Tim Huber Insurance team, serving St. Augustine, FL, will happily find condo and business insurance coverage that works for you.

Condo Insurance and Working from Home

Condo and home policies offer limited protection for "side-hustle" businesses operating from home. Typically, the coverage limit is only $2,500 in business assets, so you will likely need commercial insurance if you run a business from your condo and any of the following apply:

• Customers or suppliers sometimes visit your condo
• You keep inventory or supplies at your condo
• Your business could be interrupted or lose revenue due to damage to your condo
• Your employees need Worker’s Compensation coverage
• You maintain computerized client, supplier, or employee records subject to commercial cybercrime.

Each person’s situation is unique, but meeting one of those conditions suggests you should explore commercial insurance options such as:

• Adding a business property rider to your condo policy ($5,000 limits are common)
• In-home business insurance covering property coverage, liability, and other elements for businesses with revenue under $250,000
• Business Owner’s Policy (BOP) offers broad commercial insurance coverage for businesses exceeding $250,000 in revenue.

Working with Tim Huber Insurance

The Tim Huber Insurance team proudly serves business owners with condos in the St. Augustine, FL, area. Call us at (904) 824-2555 or stop in today to discuss how to protect your personal and business assets adequately.