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Home insurance where business operates at same address ?

  • 30-08-2022 3:12pm
    #1
    long_b
    Registered Users, Registered Users 2 Posts: 4,963 ✭✭✭


    Hi all


    Renewal time for our home insurance.

    We operate a business from a separate building on our site.

    The company who was quoting me said that because we operate a business from the same site and had not "disclosed" this to previous insurers, that our insurance policy would not have been honoured in case of an issue.

    Currently we have separate business insurance on our business building.

    Can anyone confirm that this scenario is indeed not supported by mosy insurers' standard home policies ?



Comments

  • #2
    Eggs For Dinner
    Registered Users, Registered Users 2 Posts: 3,053 ✭✭✭Eggs For Dinner


    Standard practice. The problem is mainly down to liability. If a person is injured within the boundaries of the property, were they there to visit you from a business or domestic point of view? Did the existence of a business within the property increase the risk of a property loss? Unless both household and business insurers are aware of the situation and one provides specific indemnity to the other, there is a problem



  • #3
    long_b
    Registered Users, Registered Users 2 Posts: 4,963 ✭✭✭long_b


    Thank you. So is it best to try to get a combined policy to cover both? Maybe approach the business insurer ?



  • #4
    Eggs For Dinner
    Registered Users, Registered Users 2 Posts: 3,053 ✭✭✭Eggs For Dinner


    It would be better to get the same insurer to provide you with separate house and business policies. The levels of cover for each aspect vary greatly and neither will meet the needs for each risk on it's own. The benefits of having the same insurer is it prevents one insurer trying to pass a loss over to the other insurer, saying it is more specific to them



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