Bed And Breakfast Home Insurance – There are 2.9 million home businesses in the UK, contributing £300 billion to the economy, and there are many benefits to starting your own business and working from home. Working at home often provides a quiet and comfortable place to focus with minimal distractions, increasing output and productivity. It also saves stress and money from long and expensive journeys and, especially important for those with families, it can provide the necessary flexibility to manage school and school operations.
It is also for many startups and entrepreneurs a good way to save money on office space, which can be expensive when starting out.
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But when it comes to home insurance, running a business from home can also increase the level of risk to your property and contents, which is why you need to make sure you have the right home insurance business.
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It will largely depend on the type of business you run and the types of activities you do, but as a starting point, running a business from home will increase the risk of loss of the premises and its contents. Some of the things to consider when running your business from home are:
Stock – do you want your premises in stock? What is the value of the stock you own? If you run a business that requires you to store inventory in your home, it can put your property at greater risk of burglary and theft. It will also increase the amount that the insurance company will have to pay in the event of a fire or flood causing damage to any warehouse. Your insurance company needs to know if you have storage on the premises, as this is not covered by standard contents insurance.
Business equipment – again, you may have expensive or redundant equipment that you use for your business, such as desktop computers, laptops or special machines. Your insurance company must know about these products in case they need to be replaced due to loss or damage. The inclusion of these devices and the acceptance of insurance will vary due to different insurance laws. Therefore, it is always important to talk to the provider about this and check that they are fully aware of the details and that the cover fits you.
Public liability – if you run the type of business that has customers or suppliers visiting, there is a high risk of someone damaging your property. The more visitors, the greater this risk becomes. Accidents or damage to the public while on your property can lead to claims and will only be covered if you have the right business home insurance. It is advisable for your business to have its own public liability insurance as home insurance providers will often ask you to prove that you are covered. Your home insurance may have limitations, exceptions or conditions, which will often apply within home insurance.
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The first step in purchasing home insurance is to contact a specialist home insurance provider. Smart Insurance specializes in providing home insurance and you can find affordable rates and buy policies online. The types of questions you must answer are:
1) What kind of business do you run and what does it entail? Do you, for example, office or production work, e.g. do you make curtains
There is no single answer to this as the cost of cover will vary and will depend on your unique circumstances. Home insurance is likely to be more expensive than regular home insurance and will depend on a number of risk factors, including the nature of the work, business equipment, any stock you have and whether you have frequent business visitors to your home. It will also depend on other details of your home and the coverage you need.
Home insurance is not the same as business insurance. Self-employed individuals and business owners should consider additional business insurance to protect themselves and their businesses. This may include:
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Public liability insurance protects your business against claims and their legal costs if you cause injury (including death) to another party or damage to their property. The public liability insurance covers you in your premises and work outside.
Professional Indemn Insurance provides coverage for legal costs and expenses incurred in your defense, as well as any damages or costs that may arise if you are alleged to have provided inadequate advice, services or designs that cause your client to lose money.
This cover is mandatory if you have employees (including volunteers or apprentices). This is to ensure that you can cover the costs of compensation for your employees’ injuries or illness, whether caused on or off-site.
It can be difficult to get home insurance if your home is also your workplace. At Intelligent Insurance, we offer competitive prices for home insurance and ensure that the insurance fits your needs.
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Get a quote online now, or get more information a Live Chat or call one of our experts on 03333 11 11 10 in our UK office. Being an Airbnb host can provide a great income stream for many. However, it is important to take steps to ensure that your property is maintained when you have guests staying there. Standard home insurance is not suitable when you open your home to paying guests as it carries certain risks and liabilities.
Here, we understand the unique nature of Airbnb rentals and portfolio properties listed on Airbnb, so whether you’re renting out your home or just a room, we can help. Our home insurance policies for Airbnb hosts include up to £5 million public liability cover as standard.
Home insurance provides financial protection if you need to repair your home or replace your property after it is stolen, damaged or destroyed.
It comes in two parts: premises insurance (insurance against damage to the property itself) and contents insurance (for items damaged or stolen inside the home). These can be combined or purchased separately, so the first step is to decide which option is best for you.
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Do you have a home emergency such as a power outage, broken lock or pest infestation? With 24/7 Home Emergency Cover, which we offer as standard, you can have an engineer at your home within four hours. And if you are concerned about an uncontrolled water leak in your home, we aim to have an emergency plumber to you within two hours.
Any building work we carry out is guaranteed for 24 months after a claim and any remedial content we carry out is guaranteed for 12 months.
When we replace an item we will do our best to meet the original specifications on a ‘new for old’ basis. If we cannot find a perfect replacement, we will offer you a suitable alternative or a full cash refund.
We offer legal protection cover as standard, giving you access to telephone legal advice on any personal legal matter under the laws of the UK, any EU country, the Isle of Man, the Channel Islands, Switzerland and Norway.
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Water leaks occur between 1 October – 1 April (inclusive) if your home is unoccupied for more than 30 consecutive days.
Our home insurance is designed to protect your home against insured events such as fire, storm, flood, water leakage, theft, catastrophic damage, subsidence, earth or heave.
If you have paying guests, we will pay lost rent if your guests cannot stay at home due to an insurance event.
Handles emergencies that occur in your home, such as uncontrollable water leaks, power outages, broken locks and pest infestations. Two levels of coverage are available.
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Offers a 24/7 legal advice helpline and cover of up to £25,000 for claims involving contractual disputes and property damage. For a claim to succeed, there must be a reasonable prospect (greater than 50% chance) of winning the lawsuit. Two levels of coverage are available.
It covers the cost of finding the source of the water or oil leak and repairing any damage caused in the process.
Liability insurance that covers death, bodily injury or illness, or property damage that you are legally responsible for paying.
Storage of electronic devices (eg mobile phones, laptops, tablets etc.), bicycles (including electric bicycles) and valuables (eg watches and jewellery) that you leave in your home.
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Handles situations where unexpected accidents happen, such as spills on the carpet, breaks around the house or drilling through hidden pipes. Two levels of coverage are available.
If you decide to buy home insurance from us, you can use our latest policy brochures as a guide.
Get answers to some of your questions here. Your latest policy documents are also available to view and download.
Home insurance policies are available to homeowners who are Airbnb hosts, and this question is one of the frequently asked questions about Airbnb that we receive. Tell us this by selecting “Bed and breakfast guests” from the answers you give to the question
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