Business Insurance working from Home

Bluefusion · 7 September 2004 at 12:09PM

In my current situation, I have my own small business (limited company) and work on my own in a rented office and pay Professional Indemnity, Employers Liability and General Liability insurance which equates to about £50 per month.

Next month my situation will change and I will be working for another company full-time. I plan to continue my business from my home and just work from there on evenings and some weekends. I do all my work on a computer, which will be in my living room, and I will not have any clients visiting my home. The business will stay as a Ltd company, but do I still need all the above insurances working from home part-time?

Savvy_Sue · 7 September 2004 at 10:07PM

If you're not employing anybody, you might be able to dispense with the Employer's Liability. Don't know about the other two.

For each policy, you need to ask

What does it cover?
What do I need it for?
If I didn't have it and someone sued me, would I regret it?

You might be able to get some of the cover you need on your home contents, especially consider the implications of your computer being stolen!

bridiej · 13 September 2004 at 3:16PM

I work from home and dont have any insurance, other than home contents which will cover my office equipment.

tru · 13 September 2004 at 3:32PM

I work from home and dont have any insurance, other than home contents which will cover my office equipment.

Me too

davienicoll · 24 September 2004 at 1:36PM

I work from home and dont have any insurance, other than home contents which will cover my office equipment.

Me Too but i not ltd

rach1509_2 · 29 October 2004 at 4:02PM

I recently posted for advice on this as I have an internet retail business (naughty knickers for those that remember the thread)

I am still struggling as I know I need Employers liability (Ltd co), and would like product liability, and cover for stock, computer etc

we only work at home, stock is stored at home - but people keep refusing saying I dont fit into home user, or that they dont do product liability

any advice before I have a temper and throw my knickers from the window !

vansboy · 1 November 2004 at 1:39AM

Bluefusion - you still need to check with your domestic insurers, that they are OK with what you're doing.

They may want to exclude (or ask an added premium) for your computer & stuff.

But for actual Business type insurance & liabilities, you could try A Plan in Luton 01582 420101 talk to Chris Doyle's team. They're a fairly large broker & well established.

I hold the privilege of being account number 1, with them - not 'cos I'm the best, (although I am!!) but was their first ever, commercial department customer!! Was with them for years before, for car cover, too.

VB

boiler_man · 2 March 2005 at 9:17PM

Until this month all Ltd co's should have, by law, held Employers' Liability Insurance as directors are classed as employees. Now there is a change in the law and there are circumstances when Employers' Liability insurance can be dispenced with.

So for all those small Ltd co's out there, check with your Insurance Advisor for the new regulations and see if you can save yourself some cash!!!

lynnemcf · 4 March 2005 at 7:09PM

Be careful all those working from home, dont assume you are automatically covered by your house insurance. I ALWAYS mention my status to my insurer, and the extra cover (and peace of mind) costs just a few pounds a year. Insurance companies have teams of people whose job it is to NOT pay out on a claim. Its one area that you need to be completely up front and truthful.

I am insured with Norwich Union, and they were brilliant giving advice on the phone.

Business Insurance working from Home

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