Warranty and Indemnity Limited
Insurance is essential for all home based businesses, whether there is only one employee or many more. Even if you consider yourself a home worker rather than a home business, you will need insurance.
Visit our home business insurance website for further information.
Get all of your home working insurance needs covered in one package. More details below ...
Alternatively you can call our Home Business insurance partner, Warranty & Indemnity Limited, on 0207 621 3747 to discuss your particular requirements.
Is insurance necessary for home workers?
Insurance is essential for all businesses based at home, whether there is only one employee or many more. Even if you consider yourself a home worker rather than a home business, you will need insurance.
Below is a short summary of what insurance you should consider in order to lower the commercial risks to your business, keeping in mind that your current domestic policies will not extend to your business.
What insurance do you need?
Here are some of the main types of insurance that a home business is likely to need. Take a look below to find out what’s involved. We can provide a full package of the following which allows you to get maximum value and the widest cover. This is by far the best way to fully protect your business without the expense of a large bill.
This is what your package would include, from professional indemnity to your business contents and equipment
Professional Indemnity Insurance
Companies have a “duty of care” to their clients to provide a professional service in a “fit and proper” manner.
This insurance covers the company and its employees against any allegation or indeed proven breach of this duty and the resulting financial liability, including costs and expenses.
Examples of such claims would be misrepresentation, omission, a dishonest act of an employee resulting in financial liability to a third party, breach of confidentiality or defamation.
Employer’s Liability Insurance
This is a statutory requirement within the United Kingdom, as detailed in the The Employers' Liability (Compulsory Insurance) Regulations 1998. Failure to comply with this legal requirement constitutes trading illegally and could result in potential prosecution and fines of GBP 2,500 each day the company is in breach.
Cover is provided on a legal liability basis and is generally for a limit of GBP 10,000,000 (although the statutory minimum is GBP 5,000,00).
Public Liability Insurance
This insurance would indemnify the company against their legal liability as a result of death of, or bodily injury to, third parties or damage to their property arising out of the course of your business.
Products Liability Insurance
This provides indemnity to the company against their legal liability as a result of death of, or bodily injury to, third parties or damage to their property arising specifically as a result of products which you have manufactured, supplied, installed or erected.
Portable Equipment
Many small businesses and people working from home use laptops and other forms of portable technology to keep in regular contact with employees and clients.
These can be expensive to replace, so adding equipment cover to your Insurance policy can give peace of mind that your portable technology is protected. Please note the cover can be Worldwide if required.
Office Contents
Your home office equipment such as computers and office furniture can be expensive and difficult to replace. Adding office cover to your Insurance policy will give you peace of mind that your office equipment is protected.
Please note the cover is UK only.
Business Interruption
This provides cover for financial loss as a result of physical loss or damage.
If you were unable to operate from your work premises Business Interruption will help you get up and running somewhere else.
Business Interruption must be bought in conjunction with our Property Cover and cannot be sold separately.
Tax Insurance
This insurance covers your company for the legal costs and expenses incurred in respect of an investigation by the HMRC.
This is something that can happen to a self employed person just as easily as it can to a larger business.
This policy enables the defendant to employ their own specialist accountants subject to policy terms and conditions to undertake such a defence.
Examples of claims are an Aspect enquiries by HMRC investigations, PAYE investigations and IR35.
How much cover do you get and how much does it cost?
We are more than happy to arrange home insurance details that suit your exact needs. If you require anything outside of our all-in-one package above, or if you have any questions of any sort, please do not hesitate to contact us if further information on flexible insurance packages is required.
You can reach us on 0207 621 3747 to discuss your questions and requirements.
To give you an idea of the extent of cover you will get in the above all-in-one package, here are further details if your turnover is less than £100k p.a.
Your pricing options
All prices include 6% Insurance Premium Tax.
Should you ever require higher or lower limits, or less or more coverage, please contact us on 0207 621 3747 and we will be able to assist.
Who Provides The Cover?
‘Warranty & Indemnity Ltd is an Appointed Representative of Blackmore Borley Ltd who is authorised and regulated by the Financial Services Authority. Registered Office: 37-39 Lime Street, London EC3M 3AY. Registered in England and Wales No: 07414299.
Please note that iHubbub are not an approved advisor on insurance, nor do they transact any insurance business of any kind. Visit our home business insurance website for further information.
To speak to W&I in further detail with regards to this insurance, please call 0207 621 3747
Why not see what it would cost to get insurance cover that is tailored to your exact requirements?
