What insurance cover do you need when you work from home?

Many people choose to set up a business and work from home. Not only is it quite convenient, but it also can be much cheaper, cutting down on costs of rent or a new mortgage on business premises. But working from home doesn’t mean that you escape the other costs involved in starting a business.

You might not know that there are some types of insurance cover which you really should have, even when you are working from home. Architects, hairdressers, lawyers, graphic designers, among many other types of home based professionals, will all need to see clients, customers and the general public in their homes. You might even hire extra staff, who work from your home with you.

Here is a breakdown of the types of insurance you are legally required to have, and those which come highly recommended: • It’s a legal requirement, if you have employees, to have Employer's Liability cover, even if you are working from the relative safety of your home. • Public liability insurance is highly recommended when you deal with the public, from clients and customers to delivery people. Public liability insurance can also cover you when you might have to work away from your home on another’s property. • Business related contents cover is advised for computers, furniture and portable equipment such as laptops and stock. • Business Interruption, Loss of money Personal Accident, Stock, Personal Accident and Annual Travel, Professional Indemnity and Travel cover are optional extras for any small or large business. • Be aware that your existing home insurance policy will not cover you for any business related losses, so make sure you have separate cover. Value your home and business contents accurately and select the correct level of cover. If you are underinsured you will not get your money’s worth back in a claim.

Please note that Direct Line for Business does not control and cannot guarantee the relevance, timeliness, or accuracy of the article above.

about the author:
by SIMON MACSIS


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