Insurance Needed When Running An At Home Business

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Running a business from home can have many benefits and lifestyle benefits.


However, it’s not without risks. Home and contents insurance policies may not always cover your business activities and assets in the event of injury, damage or loss.


Household policies might also exclude legal liability that arises as a consequence of operating a home business, a profession or use of your home as a workplace.


Some businesses may have the ability to cover the company as an extension of their home insurance, while other business owners are going to be better with coverages designed for small businesses.


You must immediately notify your insurer if your house will be used for business or industrial purposes.


The type of insurance products that are best for you really depends upon your business. Consider the following types of insurance when comparing policies:

  • Public liability covers individuals who visit your business at home such as employees, suppliers or customers. For more information on Public Liability Insurance, head to
  • Insurance for equipment, inventory, tools of the trade, office furniture or computers
  • Workers’ compensation if you have employees working from your home
  • Fire, storm and theft cover for the loss of any inventory and equipment
  • Business interruption insurance
  • CTP
  • Motor vehicle insurance

You can also consider life insurance policies and insurance for loss of income because of an accident or illness.


If you are registered for Goods and Services Tax (GST), you may be able to claim tax credits for the GST component of your insurance premium.


If you feel your premium is too high, consider accepting higher surplus, eliminating or altering risky activities, asking a broker how to improve your risk management, …