If You Are Going To Work From Home Do Not Forget To Update Your Insurance Policy

March 13th, 2010

With the career market changing, and the rise in Work From Home opportunities, many more workers are taking this route in their career advancement. Because the Internet Business allows folk the opportunity to take up the choice to Work From Home in a reasonably straightforward way, these careers are becoming Careers In Demand at the present time.

For people who are going down the self employment route to Work From Home, they will be aware that they need to take charge of their business, which will entail looking into tax affairs, getting an accountant, arranging different insurance needs, opening a business bank account and other general start up procedures.

However, not everybody who chooses to Work From Home is self employed. Many individuals are actually employed by a business to work for them from home and these individuals are less likely to consider such things as whether their home insurance policy covers them for working from their house. It is also very unlikely that any business you were employed by would remind you to consider this prior to choosing this form of job.

If individuals work in the Internet Business, then it is more than likely that most of their work will be undertaken on the pc. The problems may come here if you were, for instance, burgled. The insurance company would in all likelihood not cover your business assets, if you only have a home and contents insurance which does not cover business use. If your pc was stolen, therefore, you could lose all your work too.

Now, normally you would back up your pc regularly, so would not lose too much of the work you had done, but even so the cost of replacing your pc and then the bother of setting it up for your job would mean that you were not being paid during this time, which again is a cost which would not be covered under a home insurance policy.

For folk who work in an office, for example, and only do a small amount of Work From Home in the evening, or an occasional day, then this is almost certainly not an issue, but for those who are working every day from their house, it really needs to be considered. Can you afford not to be working while you pay to replace any business items, and the loss of wages during that period? If not, then it really does make monetary sense to advise your insurance company of your change in circumstances and find out what the cost per year would be to cover your home and contents for business use.

Jobs done from the home are now Careers In Demand and therefore it would seem logical that insurance companies have made allowances for this in their insurance policy portfolio. They will be able to work out the risks involved – they may even think your home is lower risk for burglary because there is always somebody there – and advise you what your premiums would be to include your work and business assets. They may make certain provisos, for example you must back up computer work weekly and keep the backup at a different location, but the fact that this will cause you the least hassle were you unfortunate enough to want to make a claim could make the costs and rules worthwhile.

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