Most home insurance policies exclude businesses from home

Wed, 21 May 2008

The Government is trying to increase flexible working for families and is proposing several initiatives to encourage parents to enhance their work and life balance, which includes setting up their own businesses .

Kate Syred, Head of Direct Line for Business, commented that people who want to set up their own businesses from home, should know that they might not be covered by their home contents insurance . Many home policies exclude business conducted at home.

Ms Kate Syred said: "We suggest that aspiring entrepreneurs review their insurance policies as they may need a home business policy which covers product and public liability plus theft or accidental damage to stock or specialist equipment."

She added that home businesses would not be covered for business lost as a result of an incident in the home if the relevant insurance was not in place. People also need to be aware of their liability to their clients for the products and services they offer.
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