Everyone understands ‘WFH’. It’s been clear for a while now that the Covid-driven home-working revolution is set to outlast lockdowns, and a day or two per week in the home office has quickly become a permanent feature of professional life. But is your home office insurance enough?
That big shift in working practices has prompted many of us to replace the proverbial ‘shed at the bottom of the garden’ with a proper, high-end, glazed, electrified, connected outbuilding that serves as a permanent office at home. But is that serious new investment adequately protected?
Even a modest new building is probably too good for your insurance. The construction and finishing of even a 160-square-foot, one-room office on property adjacent to your home could be adding a £50,000 asset to your property. Unfortunately most standard homeowners insurance policies have a seriously low sub-limit for outbuildings, leaving your new workplace badly under-protected.
It isn’t only new outbuildings that need more insurance. Older home-office ‘sheds’ have probably increased in value dramatically since they were built. The price of construction materials, labour, and fittings has soared in the past couple of years, due to supply-chain challenges, a shortage of tradesmen, and much-increased demand.
An office outbuilding that cost £15,000 to build six or eight years ago might cost £40,000 to rebuild now – and that’s before the cost of the contents. In fact, almost any workable freestanding office would probably cost more to replace than the limit on a normal consumer buildings and contents policy.
Your new home office wasn’t quite complete after the carpet was laid, the desk installed, and the internet connected. It’s done only when your valuable new real estate, and the high-tech equipment you’ve put in it, are covered by high-quality insurance against theft, fire, flood and other unfortunate eventualities that could erase your investment.
The Buildings & Contents cover you can buy from price-comparison websites and TV-ad companies won’t do the trick. Your new home-office probably won’t be adequately insured under an average-Joe insurance policy. Fortunately, though, the peace of mind that comes with knowing you have it properly covered is only a few clicks away.
Cover from Miller Private Clients brings the comfort of entrusting your new building to a reputable insurance company. It’s available 24/7, so visit us now at Miller Private Clients for an instant quote.
Household & Contents Insurance