Working From a Home Office - Home Business Insurance
- Work From Home? - If you work from home we could help you find appropriate insurance - Call Woodstock Insurance Brokers Limited to get a quote today.
If you work from home - What type of insurance do you need?
Many people in the UK work from home. Some work from home as part of their employed position while others run a home business from an office within their property or in an outbuilding. If you have a home business, what type of insurance do you need? Furthermore, do you need to tell your insurer?
The answer depends much on the business you run and the circumstances of work. If you employ people, then you are legally required to have employers liability insurance, you can follow that link to get a quote. It is likely to be quite cheap if you are a small business.
If you provide advice to businesses as part of your work, you may want to consider a professional indemnity policy. This protects your business from the financial circumstances of being sued over advice given.
For many people, neither of the above products are required but they need to know if they need to tell their current house insurer that they work from the property. The answer is that you do need to tell them, it is a material fact. However, the crucial factor is whether clients visit the home. If they do then many companies will refuse cover or impose stricter terms. If no clients visit the home then many insurers will simply note the policy that you work from home but no changes to excess, policy terms or premium may apply.
This is only a general guide and each insurance provider may take a differing view on a home business.