Work-from-home solutions from encova
As vaccination rates increase across the U.S., many of us are returning to our pre-pandemic routines. However, COVID-19 has made a lasting impact on the way employers approach remote work. Some companies have shifted to remote work permanently and others may adopt a hybrid model.
Whether you work from home on either a part- or full-time basis, there are both positive and negative impacts on the potential for loss. On one hand, home improvement and home renovation industries have seen growth as people make long-awaited updates to their properties, like adding a pool or completing an addition. On the other hand, as customers spend more time at home, the increased strain on mechanical systems and broader exposure to cyber threats needs to be considered.
It’s a great time to talk to your customers about any property improvements they’ve made or new exposures in their household. Encova’s new Exceed personal lines products and discounts, now available in Illinois, Indiana, Iowa, Kentucky, Ohio, Pennsylvania, West Virginia and Wisconsin, offer many solutions to cover changes in exposure.
- Equipment breakdown – With customers spending more time at home, the risk of mechanical breakdown to expensive home systems, including home entertainment systems, is increased. This coverage is included in an Encova Premier HomeownersSM policy and can be added to an Exceed Homeowners policy by endorsement.
- Family cyber protection – Our reliance on technology continues to grow, and exposures have moved beyond coverage available in traditional identity theft coverage endorsements. Our family cyber endorsements include coverage for identity theft and breach costs, cyberbullying response and internet clean up. Our family cyber protection premier endorsement goes a step further and extends coverage for extortion threats and system compromise. Dark web monitoring, identity theft management and password protection services are included with either of our family cyber endorsements.
- Business property (on premises) – Customers working from home have business property with them. Encova has a $2,500 limit available for loss to business property on the residence premises, and this limit can be increased up to $10,000.
- Smart home discount – Policyholders who have at least one Wi-Fi connected loss avoidance or loss mitigation device in the home are eligible for a discount on their Exceed Home or Encova Premier Homeowners policies. Eligible devices include Wi-Fi enabled video doorbells, smoke alarms, security cameras and water or gas leakage detection and shut-off systems.
This video demonstrates how easy it is to use our policy issuance process. We simplify doing business with customers who are not yet comfortable coming into your office; you can take payment information over the phone and complete the process with eSignature. Contact your personal lines territory manager with questions.