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

Cheap Home insurance quotation, Flood home insurance at Barn insurance
Published by Barn Insurance on January 12th 2012 | Insurance
Barn insurance covers against damages caused by natural disasters or people. It provides you all the...
 
Georgia health insurance plan act as umbrella for your life
Published by Ricky Martin on July 26th 2012 | Insurance
With all these benefits Georgia health insurance plan is acting like umbrella for many people. So if...
 
Best car insurance in New York City
Published by Warner on April 2nd 2012 | Insurance
Insurance Express is the one stop solution for all Nassau County car insurance related requirements....
 
What will influence the cost of your income protection insurance?
Published by Jenymorison on December 9th 2011 | Insurance
If you have decided to purchase income protection insurance for yourself then surely it can prove to...
 
Assess your business insurance plan for better returns
Published by Andrew Edwards on February 21st 2012 | Insurance
While running business enterprise we have to look in plans which are suitable and make everything or...
 
Commercial insurance: Perfect Plan designed for small businesses
Published by Andrew Edwards on April 2nd 2012 | Insurance
Consider the plan next time while starting a small business and don’t have sound knowledge of the ...
 
Buying insurance online- the smart thing to do
Published by Chris Luke on February 29th 2012 | Insurance
Buying insurance online is the new way to save. The reduced premiums and speed of transacting busine...
 
Benefits of car insurance comparison sites
Published by Geenadavis on February 25th 2012 | Insurance
In spite of what type of insurance an individual is seeking, it is always a wise idea to do some car...
 
Why You Need a Private Medical Health insurance
Published by Adamson Baker on July 7th 2012 | Insurance
When NHS is not adequate for a certain treatment, most patients seek the assistance of private consu...
 
Product liability insurance is a risk management investment
Published by Andrew Edwards on March 14th 2012 | Insurance
Market has reached a position where from it is important for every company to look for risk manageme...
 
Extraordinary advantages of winter sports insurance for sports enthusiasts
Published by Marry James on February 27th 2012 | Insurance
It is so surprising to know that there is insurance for anything and everything in this world. Thoug...
 
Are you looking for the best South African insurance?
Published by Dkfinancialplanning on February 10th 2012 | Insurance
South Africa is a very dangerous place full of crazy people and animals. In the South African area y...
 
Benefits of getting insurance policy specially when working abroad in search of earning and job
Published by Andy Robert on December 22nd 2011 | Insurance
Although the insurance policy might look expensive at first sight but the in-fact insurance policy i...
 
Individual dental insurance
Published by Lessardcasey on March 28th 2012 | Insurance
Individual—(non-employer-based)--healthcare coverage can be difficult and expensive to acquire. Wi...
 
Oklahoma- the home of the best car insurance
Published by Usautoinsurances on January 16th 2012 | Insurance
All motorists deriving on the Oklahoma roads need to carry with them proper auto insurance. This is...
 
Say no to restriction imposed by cheap classic car insurance lenders
Published by Anneshirley on April 12th 2012 | Insurance
Classic car are the heritage cars, so if you own one then you are the lucky person on earth. It is a...
 
Why I need employers’ liability insurance and how to buy that?
Published by Andrew Edwards on December 27th 2011 | Insurance
People ask the question about employers’ liability insurance most often...
 
Efficient ways to get cheap car insurance
Published by Robmichae on March 2nd 2012 | Insurance
It was never this easy to get the car insurance quotes. With your fast internet browsing speed you c...
 
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...
 
The best insurance packages live in Maryland
Published by Insuranceindian Aauto on March 5th 2012 | Finance
Auto insurance is something that any motorist in Maryland needs to have. Many people would try to ov...