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Experts are urging new business owners who have set up companies from home to check their insurance. Typical home insurance may not cover the books, tools, and equipment needed for a business.


There are thousands of home-based businesses in the UK, from introverted entrepreneurs, who get more done away from the distractions of others, to single parents balancing freelance work-at-home with childcare.


But it can be easy for entrepreneurs of every level to be caught up in the day-to-day demands of their enterprises that they don’t even think about insurance.


Not every home-based business operator will require specialised insurance coverage. Depending on the type of business, home-based business operators may or may not require a separate business insurance policy or an extension to their existing homeowners’ policy. 


However, it is always worth a call to ask, as the last thing any business owner needs is to find out too late that their home insurance does not allow for their specific type of business activity on the premises.


If you’re a one-person operation, knitting mittens for babies, then your liability risk is minimal. But if you’re operating a business that requires clients or customers to enter your home, then the liability risk is higher. 


If a client falls and injures themselves in your property, or you are sued due to an issue with a product or service, personal liability on your home insurance would not provide cover.


It may also be the case that you could have several thousands of pounds worth of inventory or products being stored, which will also need to be addressed for insurance purposes.


Home-based business operators should contact their insurance representatives as soon as their business is launched, as well as keep in touch as the business grows and evolves. A comprehensive risk management plan need not be complicated and can provide the necessary peace of mind to focus back on your enterprise.


If you’re looking for business insurance in Birmingham, talk to us today!