Homeowners Insurance Premiums

Working from home was a great option for many people during the pandemic. They could still earn a paycheck while avoiding exposure to the virus.   But, now that things are somewhat back to normal, many folks are still remote employees.  This decision raises questions about whether remote employee insurance is needed. 

Generally, you don’t need remote employee insurance unless you are a business owner. However, there are some issues such as property loss, or health-related incidents that come into play if you are a remote worker for a company.  

To help you understand your options, we’ve answered a few of the most frequently asked questions about homeowners insurance and remote employee insurance.

Are There Risks Associated With Working from Home?

Working from home certainly has its benefits.  No one knows whether your clothes match or if you have a bed-head.  Nevertheless, despite the perks, working from home entails risks, especially if you don’t know what they are.

Since each employer functions differently, you may have trouble getting compensation in certain circumstances.  For example:  

  • Sickness or injury – Basically, if you work from home it’s hard to prove you are sick or injured.  In this situation, an employer may expect you to work anyway, since you don’t have to leave home to do it.  It will also be hard to prove the cause of an injury if you suffer one.
  • Property loss – It’s a good idea to have home insurance to cover property damage.  Furthermore, your job may involve having clients visit your home.  Liability insurance will protect you if those individuals are injured on your property.
  • Public Liability – In some cases, employers require a home office to comply with their safety guidelines.  If you use company-owned equipment at home, homeowners insurance may cover these items.
  • Professional Indemnity – Covers you if someone claims your advice or service wasn’t correct and resulted in financial harm to them.

Contact your insurance agent and your employer to learn more about your remote employee insurance options.  Every insurer has its own rules and regulations, so it’s best to get their input. 

Do I Need Remote Employee Insurance if I Work From Home?

If you are an employee working from home, your employer will generally have some type of coverage in place for remote workers.  Two types of coverage are available:

  • Health Insurance – Helps pay some or all of your medical bills.  With this insurance, you may not need an individual health insurance plan.  
  • Worker Compensation – Worker compensation is important for both remote workers and on-site workers.  It covers lost wages, medical costs, and rehabilitation expenses for on-the-job injury.

People who work from home using their own equipment are covered by homeowners insurance.  There are, however, some limitations.  For instance, a $2,500 sub-limit for business equipment is possible.

Then again, if you are an independent contractor working from home, insurance is your responsibility.  Here are a few remote employee insurance options you may want to consider:

In-Home  Business Owners

Usually, this type of coverage is only available to businesses with fewer than three employees and a revenue of less than $250,000 per year.  The policy may include $10,000 in business property coverage.  It also provides protection against liability, data breaches, and loss of income.

  • Business Owners Policy – Typically, this insurance is for a business that has more than 3 employees and a revenue of more than $250,000 a year.  You may also need a worker’s compensation policy for your employees.
  • Business Property Endorsements – This insurance is for self-employed or independent contractors.  It provides $5,000 of business equipment coverage.

Online Business Owners

Online business owners can extend their homeowners policy to cover business expenses.  But, if you have merchandise in your home or another location, you need extra coverage.  

If your business involves making the product you sell, you are responsible for the quality.  This insurance protects you from liability if your product causes someone harm.

Freelancers can benefit from professional indemnity insurance.  These workers are at risk of legal trouble if their writing, graphic design, or web design causes financial harm.

In either situation, remote employee insurance is an added measure of protection.

Sandifer Insurance Will Help You Protect Your Home Business

All in all, working from home has its perks.  However, your homeowner’s insurance isn’t usually enough to protect you.  If you’re unsure about your insurance needs while working from home, talk to the experts at Sandifer Insurance Agency.  

We are a family-owned agency that has served Cheraw, SC, and surrounding areas for over 40 years.  Whatever your insurance needs, we can help you find affordable rates with a reputable company.  

Contact us today by phone, email, or online to learn more about our services and get a free quote.  We look forward to hearing from you soon.  



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