Tricky risks are easy to insure with
Freeman McMurrick's Work from Home Liability
Are you or your client's home based business at risk of underinsurance?
Low set-up costs, flexible hours, and the growth of the internet as a selling tool are fuelling the growth of home-based businesses. But living and running a business under the same roof does not mean everything is covered by your home's building and contents insurance.
Household insurance policiesare designed to offer protection against damage and loss to a private residence, not a commercial business. Though some home insurance may provide limited property cover for office equipment, home-based business owners relying solely on their household insurance for their business activities are still at risk of underinsurance.
Household policies will not cover liability for claims made in relation to business activities, and therefore home-based operations need a business policy to cover both business assets to their full value as well as the liability risks associated with their business activities.
Home-based businesses should consider public liability, products liability and professional indemnity insurance.
- Public Liability insurance - covers personal injury to customers or suppliers who visit the business premises.
- Products Liability - provides compensation in the event of death, personal injury or damage to property arising from the products sold through the business.
- Professional Indemnity insurance - protects professionals for claims which may be made against them for professional negligence and/or misleading and deceptive conduct.
Freeman McMurrick's Work From Home Liability package conveniently incorporates all three covers outlined above.
Other covers to consider include: loss of money caused by an event such as a storm or fire; machinery or equipment breakdown; income protection in the event of personal accident or illness; losses arising from interruption to business; and cover for loss or damage to products sent by freight carriers or by post.
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Freeman McMurrick's Work From Home Liability policy… |
