Buying Insurance When Working At Home

Thanks to our crowded road system and the spiralling increases in the cost of using public transport such as the rail and buses, more and more people are considering the option of working from home. In the right circumstances, working from home can provide huge benefits for both the employee and their boss.

A home office computer workstation

Making the right insurance choices

Insurance is likely to be a key factor whether you are employed on your own account or working for someone and using your home as a place to carry out any activities that are related to that work. Apart from your standard buildings and contents insurance, most major companies are likely to consider work based activities as presenting specific insurance risks and charge you accordingly.

Choosing the best options for your unique situation is going to be crucial to not just the cost of any insurance, but more importantly, the scope of the cover itself, and that is where a broker comes into the picture.

Using a broker can save you money on your working from home insurance

One of the biggest advantages of using a broker rather than dealing directly with the insurance company is flexibility. While the company is likely to consider your working from home insurance in ‘isolation’ a professional broker is able to combine it with other risks as a complete insurance package.

In turn, the company is the more likely to provide a competitive quote through the broker, as they have a handle on all the possible risks under one neat policy.

Working from home insurance that benefits from the broker’s hard work

As we have often highlighted, brokers have done a great deal of hard work to ensure that you get a great deal too. Considering the large amounts of insurance business that passes between a professional insurance brokerage and the major companies, they will always have more leverage for the best deal than a single client looking for “one-off” cover.

Doing your work from home homework

While there will always be a temptation to bury your head in the sand and trust that your standard buildings and contents insurance will suffice, this could turn out to be a costly mistake. The truth is that some policies exclude cover for home working and even those that don’t may not cover some of the expensive items related to your business activities.

From printers and laptops to machinery that may be used in conjunction with your business activities, such items may not always be protected by your standard policy.

A man using a laptop

Ensuring that you have adequate work from home insurance cover

By working together with your broker, you will be able to gain the best advice to make the kind of informed insurance choices that suit your specific circumstances. This is especially important if you are using technology or other equipment that belongs to an employer.

There is every possibility that while such items may already be insured by the company that you are working for, that cover may not extend to taking them away from the business premises.

Working with the broker to ensure you get the best possible cover

Even a basic insurance for working from home may not cover specialist equipment unless such items have been clearly identified at the time of taking out the insurance. In the unfortunate event of a claim under such circumstances, homeworkers could be exposed to potentially ruinous losses. A reputable broker will ask all the right questions and probably even arrange a home visit to appraise for the best cover to suit your specific needs.

Once you start to enjoy the benefits of working at home the last thing that you need is the stress that so often accompanies an insurance claim. Dealing with a broker who understands your requirements could save you a great deal of unnecessary hassle and expense in the future.

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