Lloyd's insurer SVB Underwriting Services has launched a one-stop shop for people working from home in the UK.

Home & Business insurance combines several insurances in one package such as household as well as business contents, business interruption, and professional indemnity.

SVB estimates about 625,000 people work full time from home in the UK.

But the one-stop-shop policy will also benefit the large number of professionals who take their work home with them.

SVB director Rob Page said: “What we have done, for the first time in the UK, is bring all the relevant insurance cover together in one place.”

There are three key elements in the Home & Business policy:

  • home insurance – covering buildings and contents insurance, personal legal expenses and private travel insurance
  • home business insurance – including cover for public liability, products liability, employers' liability, legal expenses, business travel, business interruption, business contents and business personal effects.
  • professional indemnity – an additional option for those whose businesses would benefit from this type of cover (eg management or marketing consultants).

    The policy is available for people who either work in their home, in the same grounds or buildings as their home, or in a different place but using their home as a primary base for their business.

    The policy will be sold through a network of regional brokers in the UK. Average premiums are expected to range from £350 to £750 per annum.

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