Home Business Insurance

Home business insurance is important, home workers need just as much protection as every other business owner. You and your business are unique, and you need cover that’s tailored specifically to your home and business needs.

What is home business insurance?

Each business is unique whether you’re working from the office or at home. Therefore, insurance protects your business regardless of size.

Home business insurance covers certain contents that may not be already included in your standard housing policy. You can get home business cover for full-time, part-time, hobby home business or for a small business. This includes business contents insurance.

Do I need home business Insurance?

The number of people who count their ‘home business’ as their main source of income is four times higher than just two years ago, as an increasing number of people work from home.

If you’re one of the many people who work or run a business from home it’s important to make sure your insurance covers you, your home, and any equipment you need, in case of damage, loss, or theft. You can also include other types of business insurance to cover multiple things and for a lower rate in one simplified policy.

What’s the difference between housing insurance & home business insurance?

Home insurance cover that takes the impact of your business into account. Home business home insurance is a specialist type of cover that takes the impact of your business into account as well as insuring your residential property and your belongings.

A home business introduces several new risks to your living space and its security, as well as to stock, tools, office equipment, and customers visiting your home. Furthermore, you can save money by combining home insurance with business use in one policy. In addition, this type of insurance can include one or more of the following types of home business cover.

Home Contents Insurance

Contents cover can include some stock and office equipment. You can tailor your contents insurance to meet your needs according to the type of business assets that are kept on the premises, but if your work includes travel, you can also get cover away from the home for valuables like cameras, laptops, mobile phones and baggage.

Home Public Liability Insurance

If clients visit your home, you can get public liability insurance included in your policy to cover any compensation payments of legal fees should you accidentally injure someone or if they damage your property.

Professional indemnity home insurance

If you give advice or offer professional services to other businesses, then professional indemnity insurance is important to consider. It can cover you if a client suffers a financial or professional loss because you’ve been negligent.

Home business building insurance

Even though you’re working from home, problems can occur. Your building insurance can cover damage to your home such as floods or fire. As a home business owner, you can save money by having just one business buildings policy to cover your home and your office. You can also cover outbuildings detached from the home.

Equipment and tool cover

If you require tools as part of your work, you can cover these. In addition, you can also get cover for your business furnishing or equipment. This type of cover can protect and insure your for:

  • Protection against the breakdown of production machinery
  • Electronic, electrical, mechanical and pressure equipment
  • Loss of perishable products
  • A guarantee against crime

If you use a van as part of your job, (i.e builder). Your home business insurance may also cover your vehicle from tool theft.

Business interruption cover

Regardless of your business type. If you suffer a loss of profit or business as a result of an insured event, your home business insurance policy may cover this also.

Third-party Liability

This part covers you against claims that third parties may present to you as a result of personal injury or property unintentionally caused by your privacy or insured premises. It also covers the voluntary reimbursement of medical and funeral expenses and the voluntary settlement of property damage.

Do I have to tell my insurer I work from home?

In short, yes. You may not need additional cover, but it’s best to check – if the worst were to happen, you could be left uninsured because you’ve invalidated your policy.

You’ll need to inform your insurer what your work situation is. If your work situation changes in the middle of policy, make your insurer aware as not doing so could invalidate your insurance.

You could also save money by looking for a combined home insurance policy to make sure you’re fully protected and covered.

What does home business insurance cover?

Ordinary building and content cover extended to cover office equipment, supplies, and furniture, Property Owners, and personal Liability cover. Public liability. Employers’ liability is available if your home will be frequented by customers directly. Stock can be covered within arranged terms and it also covers outbuildings detached from the home.

Is home business insurance important?

Most businesses at the very least need public indemnity insurance. If you have home insurance anyway, you may as well switch for extra cover and protection. This may often be cheaper for you than just paying for home insurance or paying for public indemnity insurance separately.

How can 360 Protect help?

We understand insurance very well, therefore we can advise and explain keyman cover and help you find the right cover for your employees. We will help you understand and direct you to the best insurers based on what cover your employee requirements.

We’re not a sales site or an insurer, therefore we will only give you impartial advice to help save you time and give you peace of mind that home business is protected.

To get advice about which insurance is best for your business, please get in touch.

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