Are you still working remotely in 2023? Do you consider yourself a “digital nomad,” connecting to work wherever you can find an Internet connection but never working in a single fixed office?
If so, you’re already aware that your current working situation differs from in-office work in many ways. One of these differences is in the risks you face – and the insurance coverage you may need to protect yourself from those risks. Here are three considerations you should ponder if you find yourself working on the road.
What kind of insurance is right for me?
First, consider your status. Are you a freelancer or independent contractor, or are you an employee who works remotely?
Freelancers and independent contractors are responsible for all their own insurance coverage. You run your own business; therefore, you make all your own business decisions, including coverage decisions.
Remote employees, however, may be covered in whole or in part by their employer’s insurance coverage. If you’re an employee, the first step is to find out whether and how much you’re protected against common mishaps by your employer.
How much insurance coverage do I really need?
The insurance you need will depend on your day to day work activities and the risks involved. Those who work at a desk at home, for instance, will likely need different types and amounts of coverage than those who drive between client appointments or visit various job sites throughout the day.
Nearly all digital nomads can benefit from general liability insurance and errors or omissions coverage. General liability protects you against lawsuits from customers and business visitors, while professional liability insurance protects you against claims that you made errors or omissions in your work.
Where can I find insurance for remote work?
The source of your insurance coverage for remote work will depend in part on the risks you face and the places in which those risks might occur.
For example, homeowners’ insurance will cover some work-related items in a home office, like a laptop or printer. However, this coverage may not be enough to cover all your business equipment, especially if you have specialized items.
Need help protecting yourself in your life as a digital nomad?
Connect with the team at Odell Studner today. We’ll help you find the coverage you need so you can focus on work.