The onset of the COVID-19 pandemic led to the concept of working remotely! Apart from the healthcare and government sectors, every employee is working from home. And while most of us are looking at the bright side of this new and alien setup, there are some entailed liabilities too. There has to be a mutual “thinking over” session between employees and employers where the insurance related factors get a say! Working remotely has a direct impact on the insurance covers and determinants that lead to its retention. Here are three of such factors that involve remote employees.
What Employees Need To Think Over
Employees have to be active and cautious about all the insurance plans that cover their interests. Get information from the employers about whether there is any need for taking insurance for all the work from home setup or not. Think over all the current insurance plans and their redeemability in the future!
What Employers Need To Think Over
Employers need to think over their current insurance plans that affect their office as well as the staff. While one may consider rental insurance or property insurance as a liability, they are not unless he wants to switch or leave the place. These ongoing insurance plans will not yield anything much if one uses them before the maturity period. And, cutting slack on employees’ insurances and benefits is not an option too! They are working for the firm to deserve these privileges.
Insurances That Involve Remote Work Setup
- Employers must continue fiving the workers’ compensation insurance benefits to their employees. They are working from home but offering their best contribution to the firm.
- If the employers’ property insurance does not cover all the pieces of equipment provided to the employees for their work from home setup, homeowners’ insurance is a must.
- Employees must not end up cancelling their car insurance plans just because they are not using the vehicle for daily commute anymore.
- Health insurance is also a part of this privilege. Employers should not consider taking this benefit from their employees just because they are on their own and safe in their homes.
Thorough consideration is what all the employers need right now to ensure their insurance payments are not going into the void! Employees should also ensure these factors before continuing their insurance plans. Things might get back to normal soon, but until then, we have to channelize our prevailing resources and expenses in the right direction.