Do you run a business from home? Perhaps you have clients come to visit you, or you keep stock in your home. What would happen if somebody had an accident while on your premises, or if your house flooded and the stock you kept there was damaged or destroyed?
This is where home business insurance comes in. To cover against the risks highlighted above, you will need:
– Public Liability Cover – covers you in the event that an incident or accident happens to a member of the public while at your business premises, if you are at a trade fair or exhibition, or if you are visiting a customer. More about public liability.
– Product Liability Cover – if you manufacture or sell goods and something goes wrong with them – e.g. your product breaks or causes a fire which leads to injury for the purchaser, or somebody becomes ill as a result of eating food you have prepared – then you could be sued for damages. Product liability can cover legal costs in such instances.
– Business Interruption Cover – if you are unable to trade due to circumstances beyond your control (e.g. a flood in your house damages your stock), then what will happen to the regular income that you rely upon? Business interruption cover can help you to replace lost income if you are unable to trade due to circumstances beyond your control.
Other insurance you should think about:
– Employers’ Liability Cover – if you employ anybody, then it is most likely that you will be legally bound to purchase this cover, which will protect you against claims made by your employees. See what employers’ liability covers.
– Cyber Liability Cover/Crime Cover – Computer hacking and network issues are increasingly prevalent, so this cover can be considered for anybody conducting business online. There is also cover available for electronic funds transfers, which is increasingly becoming a concern for small businesses.
Think about what could happen if you don’t have the right insurance in place. It’s not enough to simply insure your home. If you face the possibility of negligence claims from individuals; if any stock or business equipment you have purchased is damaged, stolen or destroyed; or if you employ somebody who makes a claim against you – could your business carry on? What would be the financial implications for you, personally?
That is why home business insurance makes sense. It gives you the peace-of-mind that should the worst happen to you, there is a safety net for your business, giving you the confidence to get on with your work and maintain your livelihood.
How do I take out home business insurance?
Bollington has been insuring people working from home since 1973, so has a great deal of experience and can offer you a more personal service than some widely-recognised competitors. A brief telephone call is all it takes to ensure that your business is properly protected against the risks it faces.
It’s easy to arrange cover with us. Simply:
• Call us on 01625 400206 for immediate assistance
• Fill in our quick online form – and we will prepare your quotation for you
• Arrange a call back – and a member of our friendly team will give you a call at a time to suit you