Is Work From Home Covered by Home Insurance?
The line between home and office is becoming increasingly blurry as employees transition to (or remain in) their remote roles. In fact, it is estimated that 22% of the workforce (36.2 Million Americans) will work remotely by 2025. However, home insurance typically doesn’t cover work from home.
If you’re one of these individuals, you may be considering the protection offered by your current homeowner’s policy. While there is ultimately no one-size-fits-all solution to your work from home needs, Insurance Planning offers solutions that can address a variety of business cases.
Full-Time Employees Working From Home
Whether you work exclusively out of your home office or have developed a hybrid schedule, it’s likely that your business’ liability insurance protects you and your company equipment.
According to The Balance, you are likely entitled to worker’s compensation for physical injuries at home. Additionally, you may not need to worry about business-related accidents that happen on your property, as these are probably covered by the business as well.
However, be sure to clarify questions with your company’s HR department as to whether this coverage applies. Consultation with an Insurance Planning agent can provide extra peace of mind by ensuring that all your assets, whether related to your home or the office, are covered by the right combination of policies.
Self-Employed Individuals Working From Home
No matter how many hours a week you invest in your business, if you’re self-employed and working out of your home, your work likely requires an insurance policy that is separate from your current homeowners[AA1] insurance.
While traditional homeowners insurance isn’t designed to cover business-related incidents on your property or loss of business equipment, Insurance Planning offers a variety of solutions that are tailored to your business’ individual needs. Choose from and combine coverage options including:
· Professional Liability
· Personal property used for business operations
· Loss of income due to a covered event
· Loss or damage to business records and inventory
At Insurance Planning, we’re here to help you customize a plan to fit your needs. Give us a call to learn how we can protect your work from home ventures.
[AA1]Took an apostrophe out here!