Home office insurance: is your office stuff covered?

Covid 19 has changed the way we all live our lives and negatively impacted a lot of things including businesses. This has seen corporate companies asking their employees to work from home as a way of protecting and limiting the spread of the virus. Some business owners taken the opportunity to work from home as a costs cutting measure. Due to this new normal, it is advisable that both small business owners and individuals who are working from home ensure that they have home office or business insurance.

Home office or business insurance covers business assets at home. Items such as computers, laptops and office furniture itself are covered, provided they are specified in the insurance policy under your home contents cover. There is a wide variety of businesses that can be carried out from home and all these poses different types of risks to the business. If the business has clients who frequently visit your home, manufacture products, keep client’s information and carry stock, you need to make sure you are covered against the potential exposures. Your insurer should be made aware of the business type you are conducting at home to ensure smooth conversations at claims stage.

For an individual’s peace of mind while working remotely from the office, it is advisable to consult with your employers to see if there’s a work away extension on the company assets you will be using at home.

Insurance clients must understand that home office insurance is not automatic cover under the home contents insurance. Even if the business is covered at home, one needs to take cognisance of the fact that business evolve and the home office cover allocated under household contents may not be sufficient for the ever changing business needs. It is advisable for clients to constantly update their brokers of the developments to their businesses so that they get accurate advise and thereby reducing or eliminating disappointments at claims stages.

For more information or quote requests on Private Clients, contact our Specialist team on Tel +27 11 805 0086 or Email: info@maksure.co.za.

About Maksure Risk Solutions

Maksure Risk Solutions is an Afro-Global independent specialist insurance and reinsurance broker with business footprint in Africa, Asia, East & Western Europe, South America and the Caribbean. We provide innovative and tailor-made risk solutions in Insurance and Reinsurance as well as Risk Financing and Actuarial Consulting geared towards capital management and strengthening our client’s balance sheet. Maksure is also one of the major players in Captive Management (Establishment & Management) in South Africa, Mauritius, Bermuda and various other jurisdictions. We have access into the Lloyds of London with a deep understanding of African markets. Our global nature ensures that our clients access quality capacity as well as some of the world’s latest thinking and solutions