Working from home? Understand the insurance implications before you set up
Some companies still allow their employee to work from home now.
Image: Pexels PNW Production
As many people embrace the convenience of home offices, only a few realise that this work-life-balance choice could have significant implications for their insurance policies.
Nomie Nxumalo, executive head for people and transformation at Miway, urges South Africans to review their home and car insurance to ensure they remain adequately covered if they opt to work from the comfort of their personal space.
'Most standard home insurance policies are structured around personal use of the home. Whether you're running a business or working remotely, it's crucial to declare to your insurer if a portion of your home is being used for business purposes,' Nxumalo said.
She said that not doing so could result in claims being declined or certain losses not being covered.
There is a shift in the purpose of property, as homes are no longer a mere living place only.
Last month, John Herbst, CEO of Fine & Country Sub-Saharan Africa (SSA), said properties today serve multiple purposes; they are now spaces to work, create, entertain, and relax.
'For real estate professionals, this means shifting the conversation from square metres to possibility. The work-from-anywhere revolution is not only changing where we live – it's redefining why we live there in the first place,' Herbst said.
The network of independent estate agents said the future of work is hybrid, flexible, and mobile, and the homes people live in need to reflect that.
While remote and hybrid work arrangements have recently started to decline as the return-to-office trend has gained momentum around the globe, many companies continue to embrace these models to attract and retain top talent.
Video Player is loading.
Play Video
Play
Unmute
Current Time
0:00
/
Duration
-:-
Loaded :
0%
Stream Type LIVE
Seek to live, currently behind live
LIVE
Remaining Time
-
0:00
This is a modal window.
Beginning of dialog window. Escape will cancel and close the window.
Text Color White Black Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan
Transparency Transparent Semi-Transparent Opaque
Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps
Reset
restore all settings to the default values Done
Close Modal Dialog
End of dialog window.
Advertisement
Next
Stay
Close ✕
According to Miway, the working-from-home option does impact how South Africans use their homes and vehicles and must be considered when it comes to protecting these important assets.
The South African-based direct insurance company said the integration of workspaces into personal residences brings about certain dynamics to home usage.
It said many homeowners have invested in expensive office equipment, increased their reliance on home internet, and even started running businesses from their residences. However, the insurer said failing to inform insurers about these changes could lead to gaps in coverage or even rejected claims in some cases.
For instance, Miway said home offices often house valuable equipment like computers and printers, as well as back-up supply to routers, which many people installed when loadshedding was at its worst. It added that other items could include fridges and storage, depending on the business activities.
According to the company, these products may require extra coverage beyond a standard insurance policy and would certainly need to be considered under contents coverage.
'Additionally, handling sensitive data from home can expose you to cyber threats, yet most home insurance policies do not include cybersecurity,' Nxumalo said.
She concluded that the best approach is to consult with an insurance professional to tailor coverage to one's specific needs, ensuring all aspects of their work-from-home lifestyle are adequately safeguarded.
The Stanford Institute for Economic Policy Research (SIEPR) surveyed college graduates in 40 countries across the Americas, Europe, Asia and Africa from November 2024 to February 2025 to collect information on working from home (WFH).
The institution said it derived five facts from its study. It found that WFH is highest in North America, the UK and Australia, and lowest in Asia.
The study showed that WFH levels fell from 2022 to 2023 but have since stabilised. Employees with children are more likely to split their workweeks between home and the employer's location, while those without children are more likely to work in a fully remote or fully onsite capacity.
WFH levels are similar for men and women in every major region of the world. The desire to WFH is highest among women with children, the study found.
Independent Media Property
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Citizen
2 hours ago
- The Citizen
Institute of Race Relations slams unclear expropriation law
The Institute of Race Relations (IRR) calls on Public Works and Infrastructure Minister Dean Macpherson to disclose all state bodies empowered under the Expropriation Act. The Expropriation Act allows property to be seized below market value, raising concerns about property rights in South Africa. Makone Maja of the IRR says more than 400 state entities may already hold expropriation powers. ALSO READ: Ekurhuleni residents to face new tariff hikes IRR polling shows 68% of South Africans oppose the Expropriation Act. The IRR will this week write to Macpherson, seeking clarity on how many public entities have been granted the power to expropriate property under the recently enacted Expropriation Act. The act grants expropriating authorities broad powers to seize property, including land, homes, and business assets, potentially at below-market value. It provides limited legal recourse for owners to challenge such actions in court. The IRR has raised concerns over the lack of transparency about the number of government bodies authorised to carry out expropriations. Makone Maja, the IRR's strategic engagements manager, said the law is unpopular among South Africans and poses a significant threat to property rights. 'Our polling conducted in March and April shows that 68% of registered voters oppose the Expropriation Act,' said Maja. 'The act is so broadly worded that all forms of property – including savings and pensions – are now vulnerable.' According to the IRR, at least 426 public entities currently have the authority to expropriate property under the Act. However, the organisation believes the actual number may be closer to 1 000. ALSO READ: Issues plaguing Edenvale tackled in a heated meeting 'It is the height of policy recklessness for such vast powers to be granted to an unknown number of authorities,' said Maja. 'If the number is unclear, how can citizens have confidence that these powers will not be abused?' The IRR argues that uncertainty around expropriation powers could undermine investment, economic growth and food security. In its Blueprint for Growth policy series, the institute emphasises the importance of secure property rights as a foundation for economic empowerment. Maja added that South Africa's history of corruption and abuse of power makes the lack of oversight especially troubling. ALSO READ: Court orders the removal of illegal billboard on Gillooly's 'We have seen how state power can be misused,' she said. 'It is deeply irresponsible to empower a vast and unaccountable network of officials to take property without clear safeguards. 'The minister must urgently disclose which entities have been given this authority and explain how abuse will be prevented.' The IRR has called on the government to publish a full list of authorised expropriating entities and to provide clarity on how the act will be implemented to protect constitutional property rights. For more information, visit At Caxton, we employ humans to generate daily fresh news, not AI intervention. Happy reading!
eNCA
3 hours ago
- eNCA
Trump says Musk has 'lost his mind' as feud fallout mounts
WASHINGTON - US President Donald Trump said that Elon Musk had "lost his mind" but insisted he wanted to move on from the fiery split with his billionaire former ally. The blistering public break-up between the world's richest person and the world's most powerful is fraught with political and economic risks all around. Trump had scrapped the idea of a call with Musk and was even thinking of ditching the red Tesla he bought at the height of their bromance, White House officials told AFP. "Honestly, I've been so busy working on China, working on Russia, working on Iran... I'm not thinking about Elon Musk, I just wish him well," Trump told reporters aboard Air Force One en route to his New Jersey golf club late Friday. Earlier, Trump told US broadcasters that he now wanted to focus instead on passing his "big, beautiful" mega-bill before Congress -- Musk's harsh criticism of which had sparked their break-up. But the 78-year-old Republican could not stop himself from taking aim at his South African-born friend-turned-enemy. "You mean the man who has lost his mind?" Trump said in a call with ABC when asked about Musk, adding that he was "not particularly" interested in talking to the tycoon. Trump later told Fox News that Musk had "lost it." Just a week ago Trump gave Musk a glowing send-off as he left his cost-cutting role at the so-called Department of Government Efficiency (DOGE) after four months working there. While there had been reports of tensions, the sheer speed at which their relationship imploded stunned Washington. After Musk called Trump's spending bill an "abomination" on Tuesday, Trump hit back in an Oval Office diatribe on Thursday in which he said he was "very disappointed" by the entrepreneur. Trump's spending bill faces a difficult path through Congress as it will raise the US deficit, while critics say it will cut health care for millions of the poorest Americans. The row then went nuclear, with Musk slinging insults at Trump and accusing him without evidence of being in government files on disgraced financier and sex offender Jeffrey Epstein. Trump hit back with the power of the US government behind him, saying he could cancel the Space X boss's multi-billion-dollar rocket and satellite contracts. Trump struck a milder tone late Friday when asked how seriously he is considering cutting Musk's contracts. "It's a lot of money, it's a lot of subsidy, so we'll take a look -- only if it's fair. Only if it's to be fair for him and the country," he said. Musk apparently also tried to de-escalate social media hostilities. The right-wing tech baron rowed back on a threat to scrap his company's Dragon spacecraft -- vital for ferrying NASA astronauts to and from the International Space Station. And on Friday the usually garrulous poster kept a low social media profile on his X social network. But the White House denied reports that they would talk.
IOL News
13 hours ago
- IOL News
Trump dismisses Musk's call after public fallout, considers selling Tesla
US President Donald Trump and Elon Musk (R) speak in the Oval Office before departing the White House in Washington, DC, on the way to Trump's residence at Mar-a-Lago in Palm Beach, Florida US President Donald Trump has no plans to speak to billionaire Elon Musk and may even ditch his red Tesla car, the White House said Friday after a stunning public divorce fraught with risk for both men. Trump's camp insisted that he wanted to move on from the row with the South African-born Musk, with officials telling AFP that the tech tycoon had requested a call but that the president was not interested. The Republican instead intended to focus on getting the US Congress to pass his "big, beautiful" spending bill -- Musk's harsh criticisms of which had triggered the astonishing meltdown on Thursday. Fallout from the blow-up between the world's richest person and its most powerful could be significant, as Trump risks political damage and Musk faces the loss of huge US government contracts. Trump phoned reporters at several US broadcast networks to insist that he was looking past the row. He called Musk "the man who has lost his mind" in a call to ABC and told CBS he was "totally" focused on the presidency. The White House meanwhile, squashed earlier reports that they would talk. "The president does not intend to speak to Musk today," a senior White House official told AFP on condition of anonymity. A second official said it was "true" that Musk had requested a call.
