Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Is Your Business Covered by Your Home Insurance?

By Andrew Low Subscribe to RSS | February 10th 2012 | Views:
loading
 
  



If you run your business from home then you will need to think carefully about the issue of insurance because it is important that you are properly covered. Home insurance is one of the types of insurance you will need to consider in relation to your business as while some aspects of your business might be covered by your existing insurance, you might need to get additional cover for other parts of it.

Business versus domestic use

Whether your home insurance covers you for business use will depend on the specific policy you have got; even if you are fairly sure that you are covered by your current insurer, it is worth calling them just to check. This matters because some insurers will only cover you for exclusively domestic issues and so might require you to have entirely separate insurance for your business.

However, other insurers might be able to cover part of your business. For example, if you are using your home computer to carry out many of your business transactions and this is already covered under your existing contents insurance then it is likely to be fine for business use. This means that if you are running a small business from your spare room that doesn’t require you to use any specialist or additional equipment to that which is already covered under your home insurance policy, you might well already have sufficient cover.

This, though, is not always the case because some insurers might take the view that running your business from home increases your likelihood of making an insurance claim. Therefore, they might require you to take out a specific business component to add on to your current home insurance to take account of the fact you are using your home for both business and domestic use.

Seeking extra insurance

If you are running a business, there are also likely to be other issues you need to think about, which is one of the main reasons home insurance often isn’t enough to protect you. For example, many businesses require you to use specialist equipment or software. Since these items will be exclusively or at least almost entirely for your business, they will not be covered by your home insurance and so you would find it very hard to make a claim against them in the event of anything going wrong.

Also, as a business owner, you have a duty to protect anyone who comes into contact with your company and this includes people who visit your property in relation to the business. If you have people visiting you at home, such as clients, you will need public liability insurance. If you have any employees through your business then you will also be required to take out employee liability insurance to protect them while they are working for you. This definitely won’t be available on your current home insurance and so you will need to source a separate policy.

Depending on the kind of work you do, you might also require professional indemnity insurance to protect you in the event of any claims being made against you. Again, this is a separate type of insurance. Therefore, even though home insurance might cover part of your business, it is unlikely to be the only type of insurance you need for business purposes.

Andrew Low - About Author:
This article was supplied by Andrew Low, director at the leading firm of Irish home insurance brokers, Robertson Low, established in 1995 and the only Irish incorporated 'Lloyd’s broker'.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/insurance-articles/is-your-business-covered-by-your-home-insurance.htm

Related Insurance Articles Subscribe to RSS

Understanding Backpacker insurance Policy
Published by Herry Smith on February 13th 2012 | Insurance
Backpacker travel insurance provides you the security level so that you can enjoy your holidays with...
 
Why to get mobile phone and iPad insurance
Published by Ashish Pandey on February 7th 2012 | Finance
Getting mobile phone insurance or iPad insurance can be a great tool to avoid unnecessary expense an...
 
Small and easy tips to get cheap classic car insurance
Published by Anneshirley on April 12th 2012 | Insurance
Classic car insurance sometimes charges more than your budget. So when you start looking for the ins...
 
Compare car insurance quotes before renewal
Published by Stevediaz on February 25th 2012 | Insurance
It is illegal to drive car without car insuranceas per law. So everyone who drive or owns a car need...
 
Why we should acquire Commercial liability insurance
Published by Andrew Edwards on December 12th 2011 | Insurance
Since the competition has reached a significant value, we have to be quite selective when it comes...
 
A Different type of life insurance
Published by Jack Travis on December 9th 2011 | Insurance
Disadvantage of this type of life insurance is that it will be automatically terminated once the per...
 
Importance of one’s own vehicles insurance
Published by Shyam Singh on March 2nd 2012 | Insurance
Suit one’s own insurance policy with each of your must have: Ones own vehicles insurance must have...
 
Secure your rights with public liability insurance
Published by Lauraallen on April 4th 2012 | Insurance
It has been notice in past few years that people are highly demanding for the insurance of their bus...
 
Benefits of searching the best insurance policy quotes online
Published by Andy Robert on December 27th 2011 | Insurance
Getting online for insurance policy of your choice is one of the safest and easiest method while goi...
 
Your insurance in your means, demands and needs
Published by Ahmadgill on December 3rd 2011 | Insurance
There are many companies that are giving bets rates but all these companies are not batter for you a...
 
Inexpensive health insurance procedure
Published by Lessardcasey on March 28th 2012 | Insurance
HealthInsuranceAdvisory.org offers Inexpensive Health Insurance rates for most Americans by allowing...
 
Musical insurance lets you compose music with a free mind
Published by Michel Jordan on March 22nd 2012 | Insurance
The above write-up states the benefits of choosing a musical insurance provider to cover valuable eq...
 
What leads to cheap van insurance?
Published by Carleson on December 8th 2011 | Insurance
Insurers offer separate quotes for vans used for personal purposes and for commercial vans. Due to t...
 
Simplest method of finding commercial insurance quotes
Published by Andrew Edwards on May 16th 2012 | Insurance
Looking for commercial insurance but not getting satisfactory response from companies...
 
Participate careful game by choosing authentic Car insurance quotes
Published by Carolina James on December 9th 2011 | Insurance
The instant you are planning to make your purchase it is certain that you should to make your select...
 
How to go about getting cheap van insurance
Published by Gregorypeck on March 20th 2012 | Insurance
There is no doubt that if you have a van, you need van insurance coverage. As you probably know, van...
 
Hold unexpected situations with ease, obtain business interruption insurance
Published by Andrew Edwards on February 20th 2012 | Insurance
Fix your business issues quite generously as it is quite important to keep a hold on unexpected situ...
 
Buying term insurance online - a way to save premiums
Published by Chris Luke on April 26th 2012 | Insurance
Term insurance is a commonly purchased policy in current times as it is the most suitable plan that ...
 
Tips to choosing the Apt travel insurance policy online
Published by Sandy Tata on April 20th 2012 | Insurance
Travel insurance has become the need of the hour for travelers. The needs of every person setting ou...
 
Save your property through Landlords insurance
Published by Ashish Pandey on February 3rd 2012 | Finance
Having landlords insurance can be very advantageous for all the landlords and can protect the proper...