Following yet another extended lockdown period in South Africa to curb the spread of Covid-19, many South Africans have opted to continue to stay safe by working from home.<\/p>\n
If you are a homeowner and find yourself in this position, whether working from home permanently or in a hybrid scenario, you may have wondered whether your homeowner\u2019s insurance policy is impacted.<\/p>\n
\u201cThe answer is yes,\u201d said Christelle Colman, spokesperson for Old Mutual Insure. \u201cIt is important if you are working from home to check your policy and take the time to notify your insurer of this change in risk profile, to ensure you are properly covered if your risk has changed, you have acquired additional equipment or IT infrastructure, and so on.\u201d<\/p>\n
It is a crucial step to let your insurer know if you are working from home.<\/p>\n
\u201cRemember, depending on the kind of business you are in, if you work from home and do not notify your insurer your home insurance may be invalidated if you do need to claim.<\/p>\n
“If you have company equipment at home such as a laptop, a printer or even an uninterrupted power supply (UPS) and you are financially responsible for these items, then check with your employer whether these items are covered in terms of the company insurance. This will help in determining if you need to take out additional cover for this,\u201d said Colman.<\/p>\n
She said Old Mutual Insure has seen a spike in homeowners installing equipment designed to improve their \u201cwork from home\u201d experience, especially in light of continued power supply interruptions as a result of loadshedding.<\/p>\n
Colman said that it may make sense for you to update your homeowner\u2019s insurance policy or take out an additional policy that\u2019s specifically related to working or conducting business from your home.<\/p>\n
This is because generally a personal homeowner\u2019s insurance policy is not designed to cover a home-based business, work completed under part-time or full-time employment.<\/p>\n
\u201cYour personal homeowner\u2019s policy may not for example, cover you against the liability arising from a client\u2019s personal injury or loss if you were performing a work-related activity at home.\u201d<\/p>\n
She added that most standard home insurance policies will typically not provide adequate cover if you work from home, particularly if you run your own business from your home.<\/p>\n
\u201cIf you have moved your business full time to your home or set up your new \u2018virtual office\u2019, be sure to inform your insurer or broker, especially if you installed machinery, generators, inverters, or additional tech devices,\u201d said Colman.<\/p>\n
She added that other popular equipment that can add up quickly, include headsets, extra screens, webcams, desks, keyboards or tablet devices.<\/p>\n
\u201cAlthough if you are not sure, it is a prudent measure to do the due diligence and check with your broker or your policy contract.\u201d<\/p>\n