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Working from home: Yes, it’s different to working at work

Article provided by King Price Insurance

Working from home has become the norm and it’s difficult to predict when things will go back to ‘normal’. But many corporate culture experts predict that a hybrid home/office model is the way of the future. And that’s why you, as an SMME owner, need to sort out insurance that covers you, and your company’s assets, wherever they happen to be.

Here are some insurance considerations that every home-based business should take into account.

‘Almost’ doesn’t count

Working from home doesn’t necessarily mean you need to take out different home insurance cover, but you need to make sure that your insurer understands your work situation, and you might need some additional cover. Without accurate information about the risks they’re covering, insurers can’t determine the best price or policy for your company.

On the go

You can safely assume that everything is covered under your home contents policy, right? Wrong. Your business will have portable assets, like your laptop and cellphone, and even the car you drive. Never forget to mention to your insurer that you’re using these for business purposes, too.  

Caution

A single accident on your premises could result in a lawsuit that you might not be able to handle. A great way to protect against this is to make sure that you have liability cover that matches your level of exposure. This cover can protect you from a variety of claims, including bodily and personal injury, property damage and other claims that can arise from your business operations.

Cyber threats

If you have employees also working from home, no longer connected to the super-safe office network. Your risk of falling victim to cybercrime is high. Apart from a rock-solid cybersure insurance policy, you also need to work with a professional cyber security firm to jack up your defences.

We understand how much blood, sweat and tears it takes to run a successful business and, whether you’re a budding entrepreneur or the next billionaire, the first step is making sure that you have the right business insurance, and are adequately covered.

King Price Insurance is a proud Partner of the NSBC