Working from home brings many perks to your day – a familiar and comfortable environment, hours to suit you and your lifestyle, and no bothersome travel fees!
But whilst this style of work brings peace and productivity, it still requires a fine level of responsibility – towards yourself, your property and those whom you work for.
Is your home office equipment secure, for example? Are you covered for any clients and/or customers entering your premises? These sorts of questions are often overlooked but can be the difference between successful home working and a home-based work career filled with difficulty.
A standard home insurance policy will generally cover two areas. The first is related to the items and furniture located throughout your house, in light of the big three causes for concern – Damage to possessions, Loss of possessions, and Theft.
In the case of home-working, that would be somewhat essential for your electrical goods – particularly with items such as your laptop, PC, phone and TV; anything you’ll be using for work purposes in light of the customer/client or yourself.
It would also cover your carpets. Clothes, furniture and ornaments, in case they’re damaged by someone else entering the property, even if only by accident.
However, some items might not fit into the above policy – it’ll be worth compiling a list of the items you have, and assessing if any of them should be considered for an All-Risks policy, which we’ll cover later on.
The second area of standard home insurance is related to people – being a home-worker means you’re likely to have clients, colleagues, employees or members of the public visiting your home, and because that’s within a business capacity, you’ll need policies in place no different from a conventional business company.
Employer’s Liability – should you have employees working from you home, employer liability is an essential area to cover, and is required by law. Even if you perceive the odds to be low, if an employee made a claim against you on the basis of illness (physical or mental, for example), or any injury occurring as a result of work done for you, you need to be prepared. Claims could be made against you even if your company ever fell into liquidation, and you could even earn the wrath of NHS for any ambulance and treatment costs incurred on your premises!
Public Liability – if you require customers and/or members of the public to enter your home within a business capacity – or even if you need to visit them – then public liability is highly advised to cover. It helps to cover you in any situations where a member of the public makes a claim against you; for example, if they injure themselves or their property and your business is considered to be at fault.
Professional Indemnity – working from home still means you’re working for others; and that means your work can be praised or blamed accordingly. If a client is unsatisfied with your work, believing that what you’ve done for them has actually led to some form of financial loss, they are eligible to make a claim against you. In such cases, professional indemnity becomes essential.
Before claiming for your policy, you should work out exactly what you have, and what is of value, inside your home; receipts would be a great way of valuing your items, or bank statements confirming the price of your old purchases.
This will help you provide an accurate estimation of everything, so that you can be honest with yourself and us when making the claim.
It also means, you won’t be in danger of wasting money, paying a higher premium than needed; nor will you be in danger of under-insuring your contents, which would lead to you not receiving the full compensation if a claim needs to be made.
If you ever need to travel abroad for your business, be sure to discuss this with us as we’ll have options to assist you; travelling is normally a pleasant, interesting experience, but if you’re bringing around equipment or any other valuable items, you want to be sure they’re covered in the event of damage, loss or theft. Likewise, a variety of things could happen to yourself, such as illness or injury, which would be worth looking into.
Home-working for some means a nice drop in travel fares, but Cubit Insurance understand that some of you are likely to use your car for day-to-day dealings. In this case, your car insurance policy needs to accommodate the miles covered in such circumstances, as they no longer apply to social and commuting use.
Some additional areas to be considered for driving are as follows:
We hope you’re impressed by the range of our policies – we at Cubit Insurance aim to cover all areas of your working life, making your business run as smoothly and efficiently as possible. And depending on what you need, there are potentially huge discounts available, so contact us to find out more!
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