Many of us find ourselves in very different work environments than we did just a few months ago. If you’re curled up at home with only your trusty pup to make water cooler talk with, we can help you adjust your business insurance coverage to the new normal.
Whether you’re working remotely temporarily in response to the pandemic, or are considering making working from home a more integral part of your company, it’s important to look at how that can impact your insurance needs.
Learn which policies may cover employees working from home, which don’t, and how you can adapt.
Does Your Business Insurance Policy Cover Employees Working From Home?
General Liability
Liability coverage is a must, even if your entire team is working remotely. General Liability Insurance can help protect you when unforeseen incidents involving your team and property arise.
Workers Compensation
Workers Compensation Insurance covers injuries that arise out of and in the course of employment, and that includes employees working from home. Workers Comp isn’t just nice to have when your team is working from home, it’s mandatory by law in CA and most states.
If your employee is injured in the course of work-related activity, you and your business may be liable. This is what makes Workers Compensation crucial for both on-site and remote work.
Property Insurance
Are your employees using your computers or other equipment while working remotely? Property Insurance covers more than just your physical place of business, it can help cover company-owned equipment like computers and other tools as well.
Group Health Insurance
Group Health Insurance is essential for on-site and remote employees alike. Furthermore, offering health insurance can also make you a more competitive choice for job candidates and can even decrease turnover, which is great, because the only good turnover is apple turnover.
Health Insurance can be a more complicated issue when you have team members in multiple states. In that case, it’s best to get in touch with the Rue Crew to determine your best coverage options.
Homeowners Insurance
Homeowners Insurance is not always designed to cover the specific needs of a business, and in most cases won’t cover employees even if they are working from home.
While many Homeowners policies do cover theft, loss, and damage, they will have exemptions or lower limits for businesses in many cases, and as such won’t help you in the event of a loss related to an employee working from home.
If employees have company-owned equipment at home you may want to ensure that they have sufficient coverage for damage on their renters or homeowner’s policy.
If you operate a home-based business reach out and we can customize a plan to help make sure you are covered.
Prevent Claims While Your Team Is Remote
While your team is working remotely, you will face new risks and liabilities. There are a few steps you can take to protect yourself and help prevent future claims.
Send Out A Safety Survey
It’s hard to control ergonomics when everyone is remote. Sending out a survey to ensure your team members are working in a safe environment is a good starting point. Encourage
everyone to set aside a designated workspace and inspect it for any safety hazards.
Consider Cybersecurity
Cybersecurity risks can open up additional liabilities too. You have taken steps to secure your office network, but your team members may not have given their home networks the same consideration. Ensure your team members are using a secured wifi connection or VPN.
What To Do If Your Coverage Needs To Be Adjusted
If you’re worried you don’t have the coverage you need to cover your newly remote team, the Rue Crew can help. Evaluating your coverage can also help you save money. Insurance pricing is often based on payroll, gross sales, or mileage driven. If you’re driving less, or have a lower payroll than normal, making an adjustment can reduce your bill.
Scheduling a remote consultation with the Rue Crew is the best way to be sure you have the coverage you need. Reach out now.
