Businesses Started at Home are on the Rise. NatWest Business Insurance Urges Home Business Owners to Check They Have Adequate Protection.

BRISTOL, England, March 14, 2013 /PRNewswire/ --

• Record numbers of people are starting a business and becoming their own boss
• Over 60% of these businesses are started from home - up to 2,000 a week (source: BIS Department for Business Innovation & Skills, 2012)
• With NatWest Business Insurance, home business owners can protect their businesses from as little as £53/ a year (including Insurance Premium Tax)
• If started within the last year, new businesses can get their first two months' cover completely free, http://business-insurance.natwest.com  

First two months' cover completely free.  Pay nothing until month 3.  Quotes valid for 30 days and must be obtained between 1/1/13 and 31/5/13. Qualifying Criteria apply.  If NatWest Business Insurance cannot find appropriate cover from the products offered by its underwriter U K Insurance Limited, it will call on the help of its preferred independent brokers, selected for their experience and understanding of your particular situation. In these circumstances, the two months free cover offer is not applicable.

Ensuring businesses started at home are properly insured

Every year, hundreds of thousands of people start a business of their own and for many, home-based businesses are a popular option.  

There are now more than 2 million home-based businesses in the UK with more and more people enjoying the time, cost-saving and increased productivity benefits that come with working from home.  

However, whether it's from their spare room, home office or outbuilding, it's important that home business owners assess whether they have the right cover to protect their business, home and livelihood.  

Richard Pitt, Head of U K Insurance Business Solutions, which arranges NatWest Business Insurance, comments: "A standard home insurance policy in most cases will not provide sufficient cover for a home business.  If business owners don't inform their current home insurer that they are running a business from their home, it could invalidate any claims they may need to make under their home policy."

Available home business cover with NatWest Business Insurance

Some home insurers may be able to extend a home policy to include some business equipment such as computers but it's important that home business owners check that this will provide enough cover to meet their business needs.  

In particular home businesses that employ any staff; design, manufacture or sell products to the general public; or receive and visit clients should consider their insurance options carefully.

If you don't inform your insurer that you're running a business from home, it could invalidate any claims you need to make.  Some home insurers may be able to extend your policy to include limited business equipment such as computers or fax machines, but it's important you check that this will provide enough cover to meet your business needs.

Richard Pitt, Head of U K Insurance Business Solutions, which arranges NatWest Business Insurance comments, "Home business owners may think it will never happen to them, but should an accident occur, they may need to protect their business home and livelihood against expensive claims.  Today's harsh reality is that the general public and employees are no longer afraid to seek compensation."

NatWest Business Insurance includes:

• Contents up to £5 million, covering old for new (for goods, merchandise, stock, fixtures and fittings or equipment that you use for your business)
• Buildings up to £1 million, (with optional accidental damage & subsidence cover) - combining protection against the unexpected such as fire or flood for both a home and home office in one policy
• Employers' liability insurance up to £10 million, a legal requirement if home business owners take on even one employee under a contract of service or apprenticeship (except if they are a close family member)
• Public liability insurance up to £5 million, If any customers or clients (or even couriers) visit the home business or the business requires the owner to visit theirs, and they suffer injury or damage to their property as a result
• Products liability insurance up to £5 million, if a product a home business owner designs, manufactures or sells injures a customer or damages their property, it could lead to high compensation claims
• Business Interruption cover up to £100,000 a home business owner may want to consider covering their business against loss of income for the time it takes to get his / her business up and running again

Additional benefits of NatWest Business insurance for home businesses

http://business-insurance.natwest.com/small-business-insurance/home-business-insurance  

• Two months' cover completely free for new businesses started in the last 12 months.  Customers pay nothing until month 3.  
• No charge for paying by monthly instalments for new businesses  started in the last 12 months (normally £39) 0.00% APR representative
• Up to 10% off if customers already have insurance with another provider - if not already cheaper, NatWest Business Insurance will beat existing home businesses' renewal price
• Thorough insurance guidance: from specialists who understand home businesses
• A simple process: cover can be arranged in one phone call with no forms to fill in
• No amendment fees should insurance needs change
• A Free 24 hour business help line
• A dedicated claims handler with each claim to support business owners from notification to settlement
• Comprehensive cover including:
  • Up to £5 million public & products liability cover
  • Up to £1 million buildings cover
  • Unlimited glass cover
  • Up to £100,000 stock or contents cover replacing old for new
  • Up to £10 million employers' liability cover
  • Up to £5,000 for theft of business money at home or in transit
  • Up to £100,000 for business interruption
  • Up to £100,000 for legal expenses
  • Up to 20% no claims discount

Notes to editors:

Call 0800 835 4265 Minicom 0800 051 3030 or visit http://business-insurance.natwest.com/small-business-insurance/home-business-insurance

Lines are open: Mon to Fri 9am to 7pm (excluding public holidays). Calls may be recorded. Max call charge from a BT landline is 8p plus up to 8p per minute. Business rates and calls from other networks may vary.

NatWest Business Insurance is arranged by U K Insurance Business Solutions Limited and is underwritten by U K Insurance Limited trading as NIG (UKI). Both U K Insurance Business Solutions Limited and UKI  are authorised and regulated by the Financial Services Authority. U K Insurance Business Solutions Limited Registered Office: Churchill Court, Westmoreland Road, Bromley, Kent, BR1 1DP.  Registered In England number 05196274. Calls may be recorded.

Terms and conditions for two months' free: 1. Only valid on quotes provided by U K Insurance Business Solutions Limited given between the 1^st January 2013 and 31^st May 2013.  2.  Offer quotes are valid for 30 days.  3.  Only available to businesses started within the last 12 months.  4.  New policy holders only.  5.  This offer is not available in conjunction with any other offer.  6.  Minimum premium and qualifying criteria apply.  7.  Not available to: Public Houses, Hotels, Guest Houses and B&Bs, Restaurants, Cafes/Takeaways/ Fast food restaurants, Heating/Plumbing/Ventilation Engineers.  8.  The premium must be paid by monthly Direct Debit. Subject to criteria.  The first two monthly instalments and the standard charge for payment by this method (£39) will be waived in year 1.  The interest rate is 0.00% APR representative.  Over 18s only.  If you were to cancel within the two month offer period, no refund would be due.  9.  This offer excludes terrorism cover.  10.  Offer not available in Northern Ireland.  11.  We reserve the right to cancel the 2 months free offer at any time.

Terms and conditions for up to 10% off renewal premiums: 1. The Price Promise is only valid on quotes given between the 1st January 2013 and 31st May 2013. 2. Offer quotes are valid for 30 days. 3. Your expiring cover, or best alternative quote for the same period of cover as our quote, must provide cover on an equivalent basis to the product on which our Price Promise is available. 4. The Price Promise is not available to existing policyholders. 5. Minimum premiums and qualifying criteria apply. 6. This offer is not available in conjunction with any other offer. 7. Not available to: Public Houses, Hotels, Guest Houses and B&Bs, Restaurants, Cafes/Takeaways/Fast food restaurants, Heating/Plumbing/Ventilation Engineers. 8. This offer is only available on the following basis: a By up to 10% for quotes obtained from the following insurers; Ageas; Allianz; Arista; Aviva; AXA; Brit; Ecclesiastical; Groupama; Hiscox; LV; MMA; NFU; QBE; RSA; Travelers; Zurich b Price match by £1 for any other insurer except Direct Line for Business where Price Promise is not available. 9. We will only agree to beat the initial quote obtained from an alternative insurer. 10. This offer excludes Terrorism cover. 11. Offer not available in Northern Ireland. 12. You must not have had more than 1 claim in the last 3 years on your previous equivalent cover. 13. We reserve the right to cancel the Price Promise offer at any time.

NatWest Business Insurance is committed to providing insurance for your business. If it cannot find appropriate cover from the products offered by its underwriter U K Insurance Limited, it will call on the help of its preferred independent brokers, selected for their experience and understanding of your particular situation. In these circumstances, the two months free cover offer is not applicable.

SOURCE NatWest Business Insurance