Amid all the changes that have accompanied these unprecidented times, insurance for remote workers has become an important part of the conversation. Whether you are working from home as an employee or have shifted to a remote workplace as a business owner, your insurance needs have probably changed! Luckily, our insurance experts are here to walk you through some options and deliver some helpful hacks to keep you covered!
Types of Insurance for Remote Workers:
Before diving into some of our helpful hacks for remote workers, there are some coverage options we want to highlight. Depending on the nature of your work and your employment status, some insurance policies may benefit you more than others. Here are a few options worth considering:
Who It's Best For:
If you rarely have client visits and have no need to cover equipment provided by your employer, this may be a viable option.
Who It's Best For:
If you regularly have clients visit your home office or run a business like a daycare, consider this option.
Who It's Best For:
If you keep valuable inventory or equipment at your home, this is a wise option to consider, as a business owner or employee!
Insurance for Remote Workers: Our Life Hacks
Now that we’ve given you some types of insurance to mull over, here are some applicable life hacks that can benefit any remote worker!
1. Separate Your Equipment
In the process of setting up your home work space, it’s important to keep your personal electronics separate from your work equipment. While your home insurance may cover theft or damage to your personal property, a lost, stolen, or damaged lap top, headset, or desktop provided by your company may not be covered. That said, review your home insurance to see what the coverage terms and limits are.
2. Get Comprehensive Coverage
One of the smartest things you can do to make the most of your new work from home situation is to purchase comprehensive home insurance. Most standard home insurance plans offer limited coverage that doesn’t quite cut it when it comes to protecting your home office equipment. Make an itemized list of your personal equipment, and work with your insurance specialist to build the right plan to cover it!
If you happen to work at home with a 4-legged coworker, create a space just for them that is safely distanced from your valuable work equipment!
3. Re-assess Your Auto Policy
A major perk of working remotely is the time and money you could save on the commute! However, your savings don’t have to just stop at gas – you may be elligible for some insurance discounts! In fact, one of the factors insurers consider when determining your auto insurance rates and premiumes is how often you drive. With that in mind, you may be elligible for reduced rates, now that you will not be commuting to work! Check with your insurance specialist to review your current policy and shop around for discounts available to remote workers!
4. Explore Endorsement Options
Another way you can ramp up your coverage for your remote work space is by adding a homeowners’ policy endorsement to your plan. Simply put, an endorsement is an add-on to your current policy that can provide additional coverage for your business related equipment. However, a homeowners’ endorsement typically covers business equipment that costs up to $10,000, so there are limits you should be aware of. Whatever the case may be, a visit with your insurance specialist will help narrow down your options.
The Best Insurance for Remote Workers
The best coverage come from working with the best insurance experts – that’s our team at Lifetime! With access to multiple providers, our insurance pros can help you build the best insurance policies at the best prices. If you are looking for a better policy to cover your new remote work life, we can help! Give us a call at (972) 771-2622 or visit our website!