Could your business end up costing you your home?

You may have pondered that question before, maybe in the middle of the night while worrying about expenses and cash flow. But it may surprise you to know that even if you have a profitable and stable business, there are other ways your business could end up costing you your home. And it all comes down to your home insurance.

Last updated: 
January 19, 2023

These days, many of us work or run a business from home. Most people though don't realise that this can have serious consequences when it comes to insurance.

Take Justin Uebergang and Verity Metcalfe, for example. They lost their house and all their belongings in a fire caused by an electrical fault. Unfortunately, their insurer, AAMI, denied their claim because they hadn't disclosed that a business was being run on the property. And in case you were wondering, the cause of the fire had nothing to do with the ‘business’ that was being operated from the property. They simply had a small stall with eggs from their hens placed at the end of their driveway, which people could pick up in exchange for donations into an 'honesty box'.

It's not just an unfortunate corner case - more and more insurance companies are tightening their criteria when it comes to insuring homes that also have a business operating on the property.

Here's the catch: every insurer has a different definition of what constitutes a "business activity." Is it working from home? Is it earning an income from your own business? Is it seeing clients at your home? Or is it holding stock for an e-commerce business? Figuring out the cover that's right for your can be an overwhelming process, and it's easy to just ignore it and hope for the best.

But that's where we come in. We know it's hard work and you shouldn't have to do it alone. We're here to help you figure out if your home insurance is right for you and your business. All you have to do is answer a few quick questions online, upload your current insurance document, and we'll do the rest. We'll analyze your needs, review your current insurance, and scan the market for better options. If you're already on the right track, great! We'll give you peace of mind. And if there's something better out there, we'll let you know and help you switch.

Don't let your business cost you your home. Take a couple of minutes to request a home insurance review, we'll do all the insurance-y work in the background and let you get back to what truly matters to you.

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