If you are one of the 4.75 million self-employed people and are running a business from home, you need to make sure your insurer knows.
“A home insurance policy is primarily based around there being no work,” Phil explains. “Running a business from home comes with increased risks beyond those found in a standard home insurance policy. If your insurer is unaware of these risks they might not pay out if you need to make a claim, so it’s always best to be honest.
Lucy adds: “Many people have started new ventures during lockdown and it’s likely these are beyond what is classed as clerical work. If you’ve started a makers business from home, for example, you’ll have business tools, equipment and stock in your house, you might be carrying out some manual work or even have people visiting to pick up orders. It’s particularly important to check with your insurer in this case, as you may actually need a small business policy to cover those types of risks.”
As a self-employed business owner there are additional risks you can get specialist cover for. Find out more about public liability insurance, professional indemnity insurance and employers liability insurance or contact our business team for further information and advice.