mom working from home with a kid

Working From Home: Do I Need Additional Insurance?

 

In the wake of the COVID-19 pandemic, more and more people are working from home. Consequently, the question of whether or not basic home insurance provides enough protection for at-home workers is becoming more pressing.

 

This is also an issue for people who’ve had to move an entire business into their home. Here’s what you need to know.

Understanding basic home insurance
Typically, a standard policy will:

• Protect you against damage and vandalism to both the inside and outside of your home.
• Protect you against theft, fires and other damage, up to a certain dollar amount.
• Protect you from liability should an accident occur on the property and injure someone.

 

Working from home
Are you someone who’s temporarily working from home because of COVID-19? If so, the worry, may be that working from home could be taken to imply the property is now a place of business. However, in the case of a temporary situation where an employee works from home using material provided by the employer, such as a laptop, it’s the employer’s insurance that covers any material they purchased for the employee.

 

The one case where you may need additional protection is if you have to meet with people as part of your work. If they get injured on your property while there for business, you may be held liable.

 

Operating a home-based business
If you’re operating your own business from home, you’ll need to purchase business insurance as well as a few additional protections. This is due to the fact that most home insurance policies in Nova Scotia will cover some business equipment, but they will not protect you from things like general liability or business interruptions. They also don’t provide any protection from professional liability, which could expose you to serious legal troubles should a mistake be made by someone working for your company that then results in an injury or other issue.

 

Insurance experts in Nova Scotia
The bottom line is that people temporarily working from home are likely sufficiently protected with their existing home insurance coverage. Those operating businesses from home, however, should speak with an insurance broker as soon as possible to fine-tune their policy. Eisenhauer Insurance provides a full range of business insurance policies, as well as car and travellers insurance. We’re happy to serve people throughout NS. Contact us today to speak with a broker.

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