Direct Line Find 25% Of Home Businesses Aren’t Insured

Direct Line has found that a huge number of UK based home businesses are putting thier business on the line by not having the correct business insurance. If you don’t take out the correct business insurance, you could find yourself in trouble if you are unable to trade, therefore not earning money.

Direct Line found that over 25% of all home based businesses don’t have the correct insurance to cover themselves. Out of the total number of home based businesses that actually have business insurance, only a mere 12% actually have the correct cover.

The amount of home based businesses that take out public liability insurance isn’t a great deal better than those taking out business insurance. With only around 30% of home bussinesses taking out public liability cover, it leaves the other 70% left without cover if a claim was made against their business.

The reason why so many home grown businesses aren’t buying the correct insurance is because they believe it’s covered by their standard home insurance. When it comes to setting up a home business, the majority of people forget about getting office insurance when your entire company is run from the inside of your house, which is all insured. However, many business owners will be shocked when they are turned away by their home insurer when they try to make a business claim. Many people see setting up a home business as being a cheap solution, however, if they were to setup say a salon, the would always think of getting salon insurance, but when you go to setup your own home based business, getting insurance can slip your mind.

Direct Line recommends insuring your home based business as soon as possible to cover yourself for any problems you may have in the future. That way, you are correctly covered in the event of a business based claim.

Kate Syred, head of Direct Line Business, said this about the research findings. “With so few businesses being protected from a liability claim, or an unexpected pause in trading, this research highlights the need for business owners to think about specific business insurance. Without it, dreams of being a business owner could quickly become a nightmare.”

Related posts:

1. Protectiion For Your Office One of the costs thats easy to overlook when you...
2. What amount of insurance is the correct amount? This is the big question if you are about to...
3. Your guide to insuring a small business it is unimportant whether your business is confined to an...
4. Insurance cover for contractors If, like me, you have been self employed you have...
5. How SEO Gives a Opportunity to Minor Businesses and People Working from Home When you are opening an offline business unless you have...

Related posts brought to you by Yet Another Related Posts Plugin.