The Insurance You’ll Need to Work from Home

December 7, 2018

For those who work from home, whether they have their own business such as content or real estate consulting or they telecommute for a large corporation, insurance risks may not seem like realistic issues. But many people don’t know that there are OSHA requirements for working from home meant to keep workers safe in any work environment.

At-home employees share the same risks as those who work in an office or on a jobsite somewhere. This is why it’s important to go over the risks and types of business insurance needed for off-site employees who want to make sure they’re covered in the off-chance an injury takes place or claim is brought up.

General Liability Insurance

This kind of business insurance is well-known due to its broad approach to keeping employees and business owners covered. Also known as commercial insurance, this is a foundational policy for all business owners–home-based or not. Liability insurance covers injuries like slips and falls or hitting your head on a desk. This coverage is perfectly outfitted for real estate agents or interior decorators, for instance, who have clients over in their home office. Anything that happens on premises becomes the responsibility of the business owner who lives and operates there.

This kind of business insurance also protects against property damage or injury in advertising, such as libel or slander.

Commercial Property Policy

This kind of business insurance covers equipment kept at home that’s needed to complete your tasks. Homeowners policies should have sub-limits that cover things like computers and printers, and various electronics. But the more elaborate and expensive equipment needed to complete daily tasks have to be protected more intensively. This could come in the form of expensive photojournalist items or commercial equipment.

Specialized Insurance Options

Depending on the field you operate in, be it medical or marketing, health care or house cleaning, there are specialized insurance options that pinpoint the risks and needs of your work. For real estate agents, insurance companies can propose real estate insurance options that protect against the smallest claims or ones that can lead to major financial hits. Protecting your business reputation should be a major focus in your everyday operations.

Errors and Omissions

If your career involves giving advice that could end up being wrong in any way, this can be claimed as malpractice. For professions like lawyers and doctors, this is called malpractice insurance. This kind of business insurance protects against any kind of advice you give clients that turns out to be flawed and results in harm of some sort to the client(s).

Workers’ Compensation Insurance

For home-based business owners, having employees on staff poses its own risks. Employees who come to our home to do their jobs in any capacity open the door for many liabilities, such as those listed above. This results in the need for workers’ compensation insurance that is required by law to varying degrees depending on which state you’re in.

Under workers’ compensation laws, business owners are responsible for carrying this kind of business insurance to protect against any kind of on-the-job injury to your employees regardless of whether you as the business owner did anything wrong.

About Associations Liability Insurance Agency (ALIA)

The ALIA Team (part of the Riverton Insurance Agency Corporation), specializes in helping real estate professionals find the affordable and comprehensive coverage they need, without the hassle. ALIA dates its roots to 1991 with the founding of FREA, Foundation of Real Estate Associates. In 2013, ALIA was created to work with multiple insurance companies thereby broadening the portfolio of products to customers. In 2017, ALIA was purchased by Riverton Insurance Agency Corp.