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The home office: How will working from home affect my insurance?

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When you’re starting a new business from home, there are many questions that need answers if you want to help establish a cost-effective insurance policy.

Working from home can affect your home insurance package – and, depending on your business, it may be worth taking out a suitable business insurance package for any products, stock or even equipment that you may store at home.

This guide will offer the best insights into the insurance you must acquire when setting up a business from home.

How will working from home affect my home insurance?

With more people choosing to work from home or set up remote businesses, many questions are arising surrounding their home insurance. Relaxed working standards and the digitalisation of our businesses have made it easier than ever to work remotely, with statistics suggesting that around 8 million people in the US worked from home in 2017.

Your home will always be your home and your own place of comfort, but it’s vitally important that you inform your insurance provider about any changes that could affect your policy. Working from home can mean added liability across office equipment as well as business products which can increase your home insurance premiums.

Failure to inform your insurance providers could mean that your insurance is invalidated in the event of a claim being made.

What sort of business insurance do I need if I’m working from home?

There are various pathways to look down when searching for affordable and suitable business insurance when working from home. Be Wiser Business Insurance offers all of the best packages to cover your equipment and products, as well as any employees that you may have working from your home office.

Professional indemnity insurance covers yourself and the work you complete for customers or clients. If a claim takes issue with the services you’ve provided, specifically the quality of the service or the advice given to a customer, the claimant may look to you for compensation for any financial loss or damages.

Indemnity insurance will protect you from any such claim, saving you from any financial expense that could put your business under threat.

Public liability insurance is another business insurance plan that’s worth considering. Although this sort of insurance cover may seem like something only necessary for the type of businesses that work outdoors amongst the public, it’s also a good idea for home workers.

Do you often have customers or clients visiting you at your home office? What happens if they are injured or an accident occurs? Public liability insurance will have you covered.

There are many different nuanced approaches to acquiring business insurance when you’re setting up a business from home. For expert advice surrounding your business insurance, contact Be Wiser Business Insurance, which can provide appealing quotes and a hassle-free insurance service.

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