With millions of Britons now working from home, some people are unaware of the insurance requirements for such small enterprises. Fortunately you can sort your business insurance online quickly and efficiently if you know what kind of cover you need. Some people are under the illusion that any business equipment in their home will be covered by their home insurance policy, but this is not always the case – home insurance policy are designed to protect personal possessions not business assets and for this reason it is strongly recommended that even the smallest business insures its equipment properly. In fact if you employ one other member of staff it is a legal requirement to have employer’s liability insurance.
So, if you’re searching for your business insurance online what sort of things are you looking to protect? Well here are a few of the more common examples:
• Computer equipment and other office contents – the standard range of cover is about £7500 to £20000 – just have a look around and starting adding it up, it can reach this level much sooner than you think.
• including portable pieces of equipment like PDAs and smartphones – these are normally covered up to £1500
• Business interruption insurance will protect you if anything stops the business from functioning in its normal way. If your business is very small and not your major income then you may not consider this cover essential, but if it is your main or only income it is highly desirable.
• Public and employer’s liability – this is to protect you from any claims from either a member of the public or one of your own employees. These can get very expensive very quickly and are becoming more and more common nowadays. Standard cover will insure you up to about £2 million.
Before taking out any business insurance you should check your home insurance to see what level of insurance is already provided and also to inform them that you are working from home, as this may affect your other policy. A further thing to check is that your car is insured for business use, if you use it regularly in the course of your work.
You can obtain quotes for business insurance online at Specialist Risks
