If your house doubles up as a place to live and work, you may be wondering how do I insure my home business?
Insurance Web knows the requirements of running a home business and will help you select the right insurance to suit your business and help structure the perfect insurance plan for your needs.
Insurance for Running a Business from Home
Home based businesses are a large and growing part of the modern business community, with nearly one million Australians running a business from their residence.
Like all businesses, home based operators need to ensure the correct level of insurance is purchased to protect the business, the business owner, customers and the home premises.
Standard homeowner policies generally exclude or do not provide adequate cover for home-based business activities, whereas small business package products are too complex and unaffordable for most small home businesses.
In regards to Professional Services that operate from home, Insurance Web can source insurance products that add on to your home insurance policy as a home business extension.
What is covered in the extension?
- $20m Legal liability against any claim for compensation or expenses relating to public liability, products liability or advertising liability.
- Revenue protection covers the shortage in trended revenue and costs arising from an interruption to a home business for up to 6 months.
- Asset protection cover for the loss of stock, business equipment, tools of trade, office furniture or computer equipment.
Home Business Extension
Blue Zebra Home Business Extensions have been purposely designed to be different and, from a modern small businesses perspective, simple, fit for purpose coverage, easy to purchase, and affordable for Australian businesses operating from their own residences.
- Up to $50,000 on equipment used on premises.
- Up to $10,000 for equipment taken off premises.
- Revenue protection up to 6 months – shortfall that results from interruptions to a home business (burnt house, floods, evacuated from home) or prevention of access.
If you still need professional indemnity, this can be arranged and public liability up to $20 million will be covered in your home insurance policy.
How do I Insure my Home Business?
Insurance Web are your local insurance experts. Known for our simple processes, cost-efficiency and trustworthy staff, we’ll help you get the right business insurance cover so you can trade confidently and securely right now!