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11/05/2017

Drawing the line between business and personal insurance for your home-based business

For many entrepreneurs, there is often a blurring of the lines between personal and business roles and this can even extend into insurance planning. It’s important to ensure that personal and business risks are clearly ring-fenced and insured under the correct insurance policy. This becomes especially important when you look at how our work environments are evolving, with more people setting up home-based businesses.

“Anyone who assumes that their home-owner insurance policy will cover the risks arising from their business pursuits may be making a mistake. While your home-owners policy may cover you for your office as part of the insured building, it won’t protect you against claims arising from your business pursuits. For that reason, you should obtain a separate commercial policy if your endeavour involves any kind of liability risk – and most do,” says Clayton.

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