With 46% of Britain's adults working from home in 20211, remote work has never been more popular. While things are starting to get back to normal, many businesses and individuals believe that hybrid working – with a split between being at home and in the office – is likely to be the future2. But what does this mean for your home insurance policy?
Whether you're a remote employee, a freelancer or a small business owner, it's important to make sure you're covered. Here's the things you need to know about working from home and how it might affect your insurance.
What is home insurance cover for working from home?
If you’re working from home, our home insurance could cover the equipment you need to do your job. It’s important to check your home insurance policy to see what’s covered – for example Tesco Bank Contents Insurance already covers home office equipment for certain professions up to a limit of £10,000, you should refer to our policy booklets for exclusions and restrictions that apply. If the equipment belongs to your employer, it should be covered by their business insurance policy.
Will working from home affect my home insurance?
Generally speaking it shouldn't, however it does depend on what you do for work and whether that will cause any extra risk. Our standard Tesco Bank Home Insurance policy automatically covers you if you work in clerical, administrative or child-minding industries.
If you are covered by a Tesco Bank Home Insurance policy and your working from home situation has changed, it’s important to get in touch with us to make sure you're still covered. Subject to approval, we can make the changes to your policy. We'll also waive the fee so making this update won't cost you any extra.
Should I get extra cover if I am working from home?
Some home insurance policies won't cover damage that occurs in connection with your trade, business or profession. While contents are generally covered, there are a few areas of business life that don't fall within the bounds of home insurance. If you're working from home, you might want to consider taking out extra insurance policies such as:
- Business insurance – a dedicated business insurance policy will cover stock or samples that you keep at home, and will also cover any legal expenses
- Public liability insurance – this is important if members of the public come to your home, as it covers you in case they become injured on your property or want to raise a compensation claim against you
- Contents Insurance – with Tesco Bank Contents Insurance, your possessions are covered up to the value of £75,000. You can raise your premium and increase this to £100,000. This may be worth it if you have to invest in high-tech equipment to run your business from home.
Can working from home impact my car insurance?
That depends. When you apply for or renew a Tesco Bank Car Insurance policy, your quote is based on a variety of factors. As well as entering an approximate number of miles that you'll drive each year, you also need to say whether your car will be used for commuting, business purposes or just for personal use.
If the way you use your car has changed due to working from home, it's important to get in touch with us to let us know, as it may affect your premiums.
Tesco Bank Home Insurance is arranged and administered by Tesco Bank and is underwritten by Tesco Underwriting Ltd.
Tesco Bank Car Insurance is arranged and administered by Tesco Bank and is underwritten by Tesco Underwriting Ltd.
You'll find complete details of the cover, monetary limits, exclusions, excesses and terms in our policy documents.