As businesses shift more people into working within the confines of their own home, it is important that employees of businesses are covered by insurance and a risk assessment completed. Most home insurance policies fully exclude assets related to business or professional purposes. This means that getting injured at home as a result of your job without being covered can result in a loss of income due to injury – without any way to compensate for it. This may also mean that if you keep equipment such as laptops, computers and other assets attributed to your business around, they may not be covered under an employees existing policy.
You or your business must have insurance cover for home-based staff, this may include.-
- Medical Insurance – This covers medical costs as a result of operations or medical treatment and medication
- Life Insurance – Insurance which activates at the end of your life, paying out a lump sum built up over your life to provide for your remaining family.
- Income Protection Insurance – Forms such as Absence, Sickness and Unemployment Insurance are necessary should staff become unable to work.
- If your home-based staff will entertain your clients in their home then you will need to provide Public Liability Insurance.
Many business sectors do not face the same hazards. In the same way, many forms of insurance exist to cover these potential risks and offer compensation in the event of an accident. Service-based roles such as advisors (financial, legal, marketing, analysts) will typically have different forms of insurance to trades (building, carpentry, maintenance, engineers and electrical services) tailored to fit their role.
Your existing insurer should be able to adapt your workplace policy to include your at-home workers at little additional cost.
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