If your company has moved to a work-from-home model and you now operate from a home office (or the trunk of your car), your personal insurance needs may have changed.
Have you converted a space in your home or vehicle for office supplies or inventory? If so, you should make sure either your home or auto insurance—or your company’s business insurance—covers those items. There are numerous issues to consider. Do you have a large amount of business property stored in your home? Does the quantity vary based on seasons or other calendar dates? Is it highly valuable? Is the business property something you cart around with you in your personal vehicle or to other locations?
If you are using your own computer or electronic devices for business dealings, you may need to insure them differently if work has become their primary function. The same can be said for your vehicle and possibly even your home workspace. Check with your insurance professional and the risk manager at your company to see who should be carrying coverage for these things.
Lastly, if possessions are stolen from your car, you can submit a homeowners claim. Damage to the vehicle (or theft of the car) would fall under comprehensive coverage on an auto insurance policy, but your personal possessions in the car, wherever you are, would be addressed by your homeowners coverage.
Your employer might even ask to inspect your home office for workers compensation purposes, and you might be required to implement specific safety measures.
Fire, water damage, and theft are just a few of the hazards you’ll encounter in your new work-from-home situation. Make sure you are covered so your family assets are not in jeopardy if your business property is ruined or lost You may even have cyber-security insurance needs, so talk to one of our professional advisors right away.