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