The Impact of Remote Work on Renters Insurance

The shift to remote work has transformed many aspects of daily life, including how we think about home insurance. Renters insurance, which provides coverage for personal property and liability, is one area that may be impacted by the increasing number of tenants working from home. At World of Insurance, we can help tenants understand how working remotely might affect their coverage needs.

How Working From Home May Impact Coverage Needs

Working from home can affect renters insurance needs in several ways, including the following:

• Increased value of personal property—With more expensive equipment like computers, monitors and office furniture at home, tenants may need to increase their personal property coverage limits.

• Greater liability risk—Hosting clients or colleagues at home could increase liability risks. Tenants might need to check that their policy covers such scenarios.

• Home business coverage—Standard renters insurance may not cover business-related equipment or activities. Tenants operating a business from home might need to add a home business endorsement or a separate business insurance policy.

The Role of Employers’ Coverage

If a renter who works remotely is employed by someone else, it may alter their exact coverage needs. Employers may provide some coverage for remote workers, but it often has limitations. Consider how the following may apply:

• Equipment coverage—Employers might insure company-owned equipment, such as laptops and other equipment issued to remote workers. However, personal items used for work may not be covered.

• Workers’ compensation coverage—Employers’ liability insurance is a common part of workers’ compensation policies. Coverage may extend to include remote workers if incidents occur during typical work tasks that could have also occurred on-site, such as tripping while going to the bathroom or burning oneself while making coffee.

We’re Here to Help

Contact World of Insurance in Medford, Oregon, today to learn more about renters insurance and verify that your policy is sufficient for your needs.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.