Insurance Considerations for Remote Workers

Working from home can affect your insurance coverage—here’s what to review and how to stay protected.

Working from home involves many unique insurance considerations. If you have a remote job, whether hybrid or full-time remote, taking these considerations into account can help ensure you have proper insurance coverage.

Insurance protects you from financial liability when belongings are damaged or someone becomes injured on your property. It’s important to ensure adequate insurance coverage – whether doing your job or engaging in personal activities.

Is Your Computer Equipment Protected By Insurance?

Many remote workers are provided with computer equipment by their employers. If your employer has provided you with equipment such as a computer, monitor, printer, and cell phone, these devices are likely covered by your employer’s insurance policy. Check with your employer to ensure that their commercial insurance will cover these items if they are damaged.

If you’re using your personal computer for work activities, your employer is likely not going to cover your personal computer with their insurance. Additionally, your personal computer may or may not be covered by your personal insurance policy, if you’re using it for work. Some insurance policies offer a lower level of coverage for personal items used for work purposes, while other insurance policies will not cover these items at all.

How Can You Ensure Coverage?

To find out if your work equipment is covered by your personal insurance policy, have a conversation with your insurance agent. Some home insurance policies offer additional endorsements to cover business-related content like equipment and products. Your insurance agent may need to know what type of equipment you use, whether the business is your own, and the approximate value of the equipment.

Expensive pieces of equipment may need special coverage. For example, if your computer has special capabilities that increase its value, your insurance policy may not have full coverage under a standard policy. Know the limits of coverage for individual pieces of equipment. Work with your insurance agent to ensure adequate coverage for your most valuable work devices.

Running Your Own Business? Consider Commercial Insurance

If you’re running a business out of your house, commercial insurance provides extra coverage that may benefit you. In addition to property coverage, commercial insurance may offer a range of coverages.

• Property insurance: Commercial property insurance covers the physical location of your business, inventory, and equipment.
• General liability insurance: General liability insurance provides coverage when a vendor or customer becomes injured on your property.
• Professional liability insurance: Professional liability insurance, also known as “errors and omissions” insurance, covers lawsuits and settlements due to unsatisfactory work and costly errors.

Every business is different, so if you need commercial insurance, your insurance agent can provide you with a policy that offers the right protection for your business’s unique needs.

Are You Driving Less While Working From Home?

Working from home can change your insurance situation, including your car insurance. If you worked at an office until recently, you may have been driving tens or hundreds of miles every month, for which you may have been paying a higher insurance rate. Now that you’re spending most of your time at home, your risk may be lower.

Contact your insurance agent to revise your auto insurance policy with a new estimated number of miles driven annually. This may reduce your auto insurance policy and save you money.

Touch Base With Your Insurance Agent About Working From Home

Once you start working from home, ensure your work equipment and insurance policies are up-to-date. Have a conversation with your insurance agent to explore the ways your insurance may need revising to ensure that your work equipment and business have adequate insurance coverage. Call today to learn more.