The online insurer believes problems arise when firms fail to extend their business insurance for items taken out of the office, and where business owners do not inform their insurer that they have set up a business at home or are allowing their employees to work from home.Director of Cover 4 Property, Martin Nugent, said: "Quite often people start working at home and gradually gather business equipment - a desk in the back bedroom, a computer, a printer - and before they know it they have £10,000 worth of goods and haven't notified their insurer of the situation."Nugent also pointed out that homeworking can sometimes reduce premiums, "because the underwriter takes the view that the risk of a break-in when the house is occupied during the day is reduced," he said.Graeme Trudgill, technical services manager at the British Insurance Brokers Association, agreed that lack of insurance awareness when it came to homeworking is a growing issue."It is important to tell your insurer all of the facts. They might say that the fact that you are covered under your home policy, or that you need to go elsewhere for specialist cover."He added that where a business allowed staff to work from home with equipment belonging to the firm, both parties should consult their insurer."Other cover may also be needed," he explained. "For example, employers' liability cover is a legal requirement in this country." © Business Hotline Publications Ltd 2005
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