Insurance for People Working from Home…Check the Small print

Standard insurance cover is just not up to the job if you are one of the increasing number of people working from home.

The problem has come to light because of the number of stay-at-home office workers avoiding the Olympic crush in London.

Most will have cover under their home insurance, providing they do not instal expensive extra equipment – but what about the rest who make their living as contractors, consultants or from other self-employed businesses based at homes?

Some just carry out a few hours of book-keeping or filing – like buy to let landlords – but others may have more extensive home offices and workshops.

Around 3.8 million self-employed people work from home, according to the latest research by the Trades Union Congress (TUC).

Standard home insurance often has an exclusion for business equipment, so if you have several computers, printers, scanners and other technology, check you policy to see if you need extra cover.

Other more intensive home businesses will need extra cover.

For instance, businesses with stock, tools or equipment, will have claims for loss,theft or damage voided without commercial insurance cover.

If you see clients at home or have deliveries, you may also need extra public liability cover that looks after claims for injuries, illness or even death.

By law, you will need employer liability insurance if you have people working for you from your home.

If you work from home, you also need to think about business insurance for any cars or vans you park nearby.

Upping standard car insurance to give business cover is inexpensive – and necessary as insurers will bilk any claim for an incident that happened while you were making deliveries or on a work-related trip.

Some insurers offer a combined home/business contents policy for the self-employed working from home, so investigate this on a comparison site or through a broker.

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