Working From Home
As we approach day 26,789 of the Covid-19 crisis, many of us have come to the realization that our “work from home” experiment is proving to be more permanent than we originally planned. Suits and ties have been replaced with sweats and t-shirts, the business attire “mullet” has been created for Zoom calls (business on top, leisure on the bottom), and desks have been replaced by comfy sofas. And, while many of us are adapting to this new normal, there are some insurance issues you may not have considered.
Many homeowner policies exclude business risks. If you are inviting clients/customers to your house as part of your business, any injury to them may be excluded from your homeowner policy. Likewise, if your business laptop is destroyed, it may not be covered because it is business property instead of personal property. Finally, if your home is damaged as a result of your business property (e.g. a work laptop causes a fire), that damage may be excluded as well. These new risks are not limited to property and liability insurance. For those supplementing their income with Postmates, Uber Eats, or other food delivery services, your auto policy may not apply if you have an accident while making your deliveries.
It is worth taking a look at your policies and/or talking to your insurance agent about whether your current activities will be covered. If not, it might be worthwhile to explore whether additional insurance makes sense. While I don’t care that you are wearing cut-off jean shorts in our Zoom call, I do want to make sure you are adequately covered elsewhere.