Cornerstone Insurance Agency Blog
COVID-19 inflicted greater socioeconomic demands on the part of employees and insurance companies. There has been a workplace shift from office-based to remote/work-from-home locations to protect individuals through social distancing. Various insurance companies and policies have also adjusted to this economic challenge, especially home insurance.
Read this article to find out the different implications of COVID-19 to home insurance and homeowners.
Less Theft Incidence
Compared with previous times, individuals have spent more significant time staying inside their homes due to COVID-19. Home equipment and property are monitored better, resulting in decreased burglary and unauthorized entry incidence. This condition is mutually beneficial to home insurance companies and individuals as the insurance covers lesser property damage from theft.
Better Home Maintenance
Staying inside one’s house can either make or break the house, depending on its residents. Individuals who spend more time at home tend to notice any damages or incidents inside the house, like water leaks and wood decay, before these get out of hand. Thus, the risk of more accidental damages to property is minimized, if not prevented.
Expanded Coverage to Work-From-Home Equipment
The pandemic required insurance companies to adjust their home insurance policies to cater to increased demands for equipment and material coverage needed for work from home jobs. Equipment may include computers, printers, tables, and other peripherals. According to Zurich, there has been an increase in flat screen claims up to 22% since the lockdown started. The home insurance policy is challenged to cover the expenses related to repairs of this equipment.
High Health Risks from Work-From-Home Employees
Most home-bound employees may not have customized workstations intended for a work-from-home setup that provides accessibility and efficiency in using the equipment. Extreme proximity or distance of employees to phone, printer, and other materials at home may cause muscle strain, posing a risk for ergonomic and postural injuries.
Limited Social Interaction
Limited social interaction among employees due to work-from-home jobs may pose threats to one’s mental health. Covid-19 is the time of increased mental and physical stress, affecting the health of home residents. Insurance companies should recognize this situation, as homeowners are vital elements in the home insurance policies.
Employees and insurance agencies must make necessary mutual adjustments to survive positively at this time of the pandemic. Have your home safeguarded by home insurance policies that provide extensive protection here at Cornerstone Insurance Agency.
At Cornerstone Insurance Agency, we do our best in making sure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (888) 661-8831 or Click Here to request a free quote.