Does your Home Insurance company know you work from home?
In my line of work, I get to meet a range of businesses of all shapes and sizes. I’ve found that whether you’re a sole trader or national corporate outfit, it is not uncommon for you you at some stage, to work from home.
Regular readers of this blog may recall a recent blog entitled ‘‘Fact or Fiction – always read the smallprint’‘. That blog focused on the assumptions an insurer makes about you when you take out a policy. A common statement will include a line that goes a little something like…. ”you do not operate any business from home” – or words to that effect. Most people are simply doing clerical based work, which most household insurers are fine with, but for good order and peace of mind, it is worth picking up the phone to your broker or insurer just to let them know and get confirmation you are covered correctly.
There are of course other insurance issues to consider when working from home, for example some companies manufacture or assemble products on their premises, or simply take company equipment home, only to release later on when something goes wrong that the equipment isn’t covered once it leaves the company building!
Make sure this doesn’t happen to you, be sure to check that your policy reflects what you are actually doing and meets your needs. There are in fact policies available that have specifically been designed for people that work from home, but these aren’t always necessary. If you’re unsure, seek professional advice from an insurance broker.