Contents insurance at office/home address

[naos]

Hi,

I have my flat rented through my IT company and this is my home and office address. I don't usually work from there as I work at a customer site mostly, but the flat rental contract is written for my business (limited company).
Now I have problem with choosing right contents insurance. If I get standard home contents insurance, that allows work from home from time to time, will it suite my situation ? Or should I get contractor's office insurance ? In the latter case, would office insurance cover my personal stuff too? Or reverse, would home insurance cover my business equipment like laptop ? Does anyone know companies that have contractor specific home/office insurances?

Greetings, any help appreciated,
Luke

[mudskipper]

Hi naos

I can't answer your specific question, but I do know there is special insurance for your Ltd Co owned stuff (Hiscox among others do it) which won't be covered by domestic insurance. If the flat is leased to yourCo, I'd be surprised if a domestic policy covers it.

Do you have another address? If your flat is your only address you may fall under duality of purpose rules, in which case you'll incur a benefit in kind by paying for the lease though your company.

[SueEllen]

Hi naos

I can't answer your specific question, but I do know there is special insurance for your Ltd Co owned stuff (Hiscox among others do it) which won't be covered by domestic insurance. If the flat is leased to yourCo, I'd be surprised if a domestic policy covers it.

Do you have another address? If your flat is your only address you may fall under duality of purpose rules, in which case you'll incur a benefit in kind by paying for the lease though your company.

WMS

Just to add if you do have a different home elsewhere you are going to have to find a broker, who will probably have to talk to different underwriters to get them to modify a policy to cover you. Make sure the broker is an independent and not from a company like Swintons.

Oh and General is not for serious posts like this.

[naos]

Hi naos

Do you have another address? If your flat is your only address you may fall under duality of purpose rules, in which case you'll incur a benefit in kind by paying for the lease though your company.

This would probably exclude claiming the rent as an expense? I thought there may be a conflict and I wasn't so sure about this idea to lease the flat through my Co, but my accountant said that's perfectly all right etc. I now took some more read on the duality of purpose and I think I fall under it with the flat :/

Do you think I can just not claim the flat as an expense and be safe then or I would need to sign a new contract, rewrite everything on me? Also all the media, deposit, ... :/

[SueEllen]

This would probably exclude claiming the rent as an expense? I thought there may be a conflict and I wasn't so sure about this idea to lease the flat through my Co, but my accountant said that's perfectly all right etc. I now took some more read on the duality of purpose and I think I fall under it with the flat :/

Do you think I can just not claim the flat as an expense and be safe then or I would need to sign a new contract, rewrite everything on me? Also all the media, deposit, ... :/

The accountant probably said it was OK cos s/he thought you had another address.

I suggest you post this question in accounting/legal as you are in a bit of a mess and one of the friendly accountants will give you information to sort it out.