Running a website from home - Home & Business insurance

cdm · 24-02-08

Hi,
I recently bought a website and have just started trading after revamping the business. To save money so i could buy more stock i decided it was more time efficient and money efficient to work from home as the stock doesn't take up much room.
I knew i needed business insurance but as my home insurance was due i decided to wait and see if i could combine both with the same company! Oh my word what a nightmare!! I'm guessing that most people who are selling on ebay haven't declared to their home insurers that they have stock and if you are one and you haven't then i'd so as if anything happens your insurance will be VOID! Also for some stock that you are holding ie cosmetics and perfume and probably some others you DO NEED public liabilty insurance too!
I didn't know that till yesterday as i thought if a product affected someone it would be down to the brand that produced it!

Now my point is apart from Axa who combine home and business (inc stock & PLI) the no if insurance companies covering this is very few. Ideally i want to keep them both separate too as otherwise if i claim on my business then that will affect my home insurance for the future too!

Sorry if this is really long as i wanted to know what others have that are based from home and also to warn people that dont have business insurance that they could land themselves in big trouble!!!

chocoguy · 24-02-08

I know this has been answered before. If memory serves me right you can run your own business website from home like this one.

Green-Moo · 01-03-08

I think the key thing that your insurer will be concerned about is the stock holding. I've had no problems when I've told my home insurers that I'm running a business from home, so long as I've not had customers visiting or inventory held. Even without customers visiting, public liability insurance is still a must though. You never know when a customer or supplier is going to pick up your trading address & accidentally trip over your front door mat or something.

tater03 · 02-03-08

Wow, I never even thought of this. I am still in the process of thinking about running a home business. It just never even dawned on me that they should be kept separate. I am glad I seen this post.

Calypso · 23-03-08

Quote:

Originally Posted by Green-Moo

I think the key thing that your insurer will be concerned about is the stock holding. I've had no problems when I've told my home insurers that I'm running a business from home, so long as I've not had customers visiting or inventory held. Even without customers visiting, public liability insurance is still a must though. You never know when a customer or supplier is going to pick up your trading address & accidentally trip over your front door mat or something.

I agree. This is basically what my bookkeeper told me when I asked about insurance. She just advised me to always meet clients in *their* place of business or in a public place like a restaurant.

Green-Moo · 23-03-08

It's a good idea to have public liability anyway Calypso, even if you are not intending on meeting people at your own place of business. Your address needs to be filed with various authorities, so someone could pick it up and come calling unexpectedly one day. Or a courier could have an accident, or the telephone engineer, or well, anyone really. It's frightening what you think you can be sued for.