Originally posted on January 28, 2015 @ 2:28 am
Many people today prefer to work at home because of the convenience it provides. It not only saves you money but telecommuting lets you save a lot of travel time notably if you live far from the office. Working at home does not also require you to dress in a business or office attire which makes it more convenient.
For startups and small business owners, this set up is also very cost effective. You don’t have to rent an office space if most of your staff are just at home working on their tasks.
But there are risks involved in this kind of work practice. And these risks may not be covered by your insurance policy so be sure you are aware of these things in case you are employing work-at-home staff.
Property and Computer
It would be a good idea to clear everything first with your employees working at home regarding insurance coverage. A general property insurance would cover business equipment such laptops and mobile phones regardless where they are used. Just make sure that you specify items with a value of $2,500 or above.
Take note, however, that damages to the home or property of your employees including their home contents are not covered by a business insurance policy. Their own home and contents policy will have limited coverage on this loss.
What you can do then is require your employees to verify with their insurers first regarding the extent of their home and contents policy. They should inquire from their insurance provider whether a work-from-home situation or home office can be included in their home policy.
Home Accidents
People working at home may get injured while performing their job. As such, you as their employer should create policies for your employees’ safety and well-being. You can also conduct a home safety survey by letting your workers check their home environment.
You need to do this as an employer since you are under obligation to ensure that your staff are covered by your workers’ compensation policy. Regularly checking on your staff is a good move to do to determine whether or not they have health issues.
Use of Vehicle
If the work of your staff requires them to travel once in a while such as to attend meetings, let them contact their insurance provider to find out if their private motor vehicle policy cover such activities.
It is vital that your employees have their own motor vehicle insurance because in the event they cause damage to the property of other people while doing their work, you can also be held liable.
Any employer should make it a point to consult with an insurance broker first to find out your insurance needs of your employers. Risks need to be considered including the financial ones to enable
employers to find ways to sustain the business and achieve their desired goals, said Kevin Simon, a Los Angeles bankruptcy lawyer from the Simon Resnik Hayes law firm.
Most importantly, make it part of your business policy to require workers wanting to work from home to first check their own insurance policies. This way, there will be less issues when they start to perform their job in the comfort of their homes.