September 30, 2020
Agency
Are you tele-commuting and how are you covered?
If you are working from home using property supplied by your employer, we first encourage you to contact your employer and ask or confirm the following:
-Confirm your employer’s Business insurance includes BPP (Business Personal Property) and confirm that coverage is comprehensive enough for tele-commuters.
-Ask your employer what your obligations to that employer may be in regards to property supplied by them.– they may have stipulations or regulations in place for where you can have your employer supplied property and should there be a loss, having it on record that you asked this question may help.
If there is a loss, your home insurance policy may provide coverage.
– How coverage may apply is ultimately determined at the time of loss.
-Your home insurance policy will most likely be secondary after your employer’s coverage and there may be coverage limitations such as:
– Property losses may be settled on an ACV not replacement cost
– Property may only be covered if on your premise only, not in your car, on vacation, or at your parents house.
-Your home insurance policy will most always provide the duty to defend you which will provide the cost to investigate the loss should a loss occur
-Your Umbrella policy may also provide coverage.
Final thought: If you are ever unsure how coverage may be applied or if you are not sure whether to file a claim, please contact us at (425) 212-3505, or your agent FIRST!
Source: Gretchen’s Weekly Wednesday Insurance Tip