APC launches office and surgeries policy for home start-ups
APC underwriting, the commercial and liability specialist, has launched a dual office and surgeries policy, which it says is sufficiently flexible to cover most of the UK’s two million home-based businesses.
According to the firm’s research, the home has become the UK’s most popular start-up location, with more than 1,400 new home businesses launched each week, or 60% of all start-ups.
APC has been aware that brokers sometimes find it difficult to place business clients with offices or surgeries based within residential properties and has therefore designed a new flexible product, underwritten at Lloyd’s, which caters for both residential and commercial risks.
The key features include all risks cover with accidental damage; single premises and portfolio risks; legal expenses up to £100,000; a variety of optional extensions, such as theft by employee and computer breakdown.
APC director, Ian Russell, explains that the product covers over 200 trades, regardless of whether they operate from commercial premises or from home, and should therefore allow brokers to cater for the growing home-based business market.
According to research, the fastest growing sectors for home businesses are professional services, such as accountants and website developers, online trading and personal services.
Category: Business Insurance News, Companies News, Insurance News
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