Working From Home Insurance
DayDreamJay
Posts: 31 Forumite
We work from home full-time doing picture framing in a rented house. The landlord is concerned that his buildings insurance will be invalid if for instance there was some kind of damage or fire and the insurance company found out that the house was being used for business purposes. He has asked us to get insurance to cover our business and presumably any damage caused by our business to his property. What should I be Googling please? When I look up business insurance it just gives me results for public liability or for insuring business equipment. Thanks in advance.
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Comments
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I would have thought it makes more sense for him to amend his buildings insurance to cover the actual use - and then presumably ask you to pay the difference.0
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The landlord is concerned that his buildings insurance will be invalid if for instance there was some kind of damage or fire and the insurance company found out that the house was being used for business purposes.His buildings insurance company may or may not be concerned. However, if they are concerned, then getting a homeworkers policy isn't likely to resolve that problem. i.e. if the buildings insurance provider says no to work from home then a homeworker policy is not going to change that. he should find out first what it is.
Homeworking tends to affect contents insurance. So, at the moment, you either don't have contents insurance or there is a good chance you are paying for something that wont cover you.
Typically, most home insurance policies will cover work from home if it's admin/clerical only. They become fussier (i.e. won't offer cover) if there is stock and materials and get fussier still if people come to your house. The level of restrictions/refusals to offer tend to be greater at the budget end scale (i.e. top of the comparison site) and less with the quality cover.
So, first thing is to find out what the implications are for your current provider. If they refuse cover then you are looking at home-worker home insurance policy or one of the better quality home insurance providers.
I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.1 -
dunstonh said:The landlord is concerned that his buildings insurance will be invalid if for instance there was some kind of damage or fire and the insurance company found out that the house was being used for business purposes.His buildings insurance company may or may not be concerned. However, if they are concerned, then getting a homeworkers policy isn't likely to resolve that problem. i.e. if the buildings insurance provider says no to work from home then a homeworker policy is not going to change that. he should find out first what it is.
Homeworking tends to affect contents insurance. So, at the moment, you either don't have contents insurance or there is a good chance you are paying for something that wont cover you.
Typically, most home insurance policies will cover work from home if it's admin/clerical only. They become fussier (i.e. won't offer cover) if there is stock and materials and get fussier still if people come to your house. The level of restrictions/refusals to offer tend to be greater at the budget end scale (i.e. top of the comparison site) and less with the quality cover.
So, first thing is to find out what the implications are for your current provider. If they refuse cover then you are looking at home-worker home insurance policy or one of the better quality home insurance providers.0 -
Whatever you do about contents insurance is up to you - I presume the landlord's only concern is buildings insurance.0
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