Personal Liability and Your Home Business
Take Out Liability Insurance When You Run a Home Business
Running a business from home is a huge responsibility, but if someone is hurt on injured on your premises you will be held responsible, and this could run into thousands.
You will be held responsible for all the medical bills, and anything else pertaining to the injury.
It is important to note that your personal insurance does not cover liability cover for your profession or for your business.
You need to enquire and find out from your insurance broker what the specific risks are associated with your services or business.
You can usually take out liability cover separately.
A couple of excellent examples of home-run businesses would be hair dressing salons, guest houses, B & B establishments, play groups and others.
Vehicles and your home business:
* It is imperative that you inform your insurance brokerage if you use your vehicle or car for business purposes, as this will be taken into account when your premiums are calculated.
* The car and vehicle insurance that covers business usage varies from one insurance company to another.
* Vehicles that transport stock, passengers or employees, equipment etc. will be covered by commercial insurance brokers and not under the insurance that covers your home-run business.
Be on the safe side and ensure that you have the correct, sufficient cover to avoid any unpleasant surprises.