With the pandemic still playing havoc with our work and personal lifestyles, some people are continuing to work remotely, and some are planning to work remotely on a permanent basis. But when you make that decision to work from home, it is important to consider all of your potential insurance liabilities, particularly regarding your homeowners' coverage.
While an employer's business insurance provides for much of the coverage needed to conduct business at home, remote work can affect the employee's homeowners' insurance in various ways. It would be smart to have Your J.P. Perry insurance agent review your homeowners' policy to make sure there are no additional risks for you as an employee. Some of those areas you need to review include...
Personal Property - Some homeowners' policies will cover business property used at home, but there usually is a value limit. You would need to review your policy and determine if limits should be increased.
Liability Coverage For Visiting Clients Or Customers - If remote work requires you to meet with clients or customers in your home, be aware that homeowners' insurance will not cover business-related injuries. However, your company's general liability insurance should cover it. But you need to check with your employer.
Residing In The Home 100% Of Time - Since the purpose of remote work is to be sheltered in your home from the virus, you may be in your home almost 100% of the time. This means more time at home with additional risks. This could be another factor l that could affect homeowners' rates.
Follow Up Action For Remote Workers
Depending on the nature of your professional activities, your risks may be too high to be covered under your existing homeowners' policy. You may need a comprehensive homeowners' insurance policy or add an umbrella policy. Your best strategy is to contact your J.P. Perry agent to review your coverage and make any needed adjustments to your policy to ensure that you are fully covered.