Working from home insurance
Running a home business means that you may well need to take out specific home business insurance to protect your company, so here’s what you need to know about home business insurance.
What type of insurance do you need?
Many home business insurance policies can be tailored to suit your needs, but there are a few forms of home business insurance that every home office should consider.
Employers’ liability insurance
If you employ just one other member of staff then you might be required by law to have employers’ liability insurance as part of your home business insurance cover and can be fined if you don’t have it.
Public liability insurance
Having clients or members of the public visiting your workplace can pose a risk and it would be well worth including public liability in your home business insurance, covering yourself against any claims arising from personal injury or property damage on your premises.
Professional indemnity insurance
Adding professional indemnity insurance to your home business insurance policy is a good idea if you sell your knowledge or skills as it will cover compensation claims made in the case of any mistakes you make that are financially damaging to your clients.
Accountants, lawyers and financial advisors are all required to have professional indemnity as part of their home business insurance.
Buildings and contents insurance
Your standard home insurance probably won’t cover you for loss or damage to your home office equipment, or damage to your property from activities related to your business, which makes home business insurance so important – especially if you have expensive equipment at home.
Car insurance
Double check that your car insurance covers you while driving on business matters. If it doesn’t, you might want to add this to your list of home business insurance essentials.
How uSwitch for business can help
Let uSwitch for business work out exactly what you need. We’ll compare business insurance on your behalf to save your business time and money – and we’ll take care of all the paperwork too.