Operating a business from your home is a rewarding and profitable experience. With so much invested in your home based business, make sure you have the right coverage to insure your unique exposures. Each day brings the possibility for a loss that could leave you, and your business, unprotected. Most homeowner’s policies are not designed to cover a business exposure in the home. The typical homeowner’s policy provides minimal coverage for business property on and off premises and no liability coverage relating to business activities.
The following important features are included in our Home Based Business policy.
- Off Premises Coverage: Your business laptop is stolen while you are traveling.
- Loss of Business Income: A fire at your home temporarily puts you out of business.
- Liability: A customer visiting your home slips and falls.
- Optional Coverage for Money & Securities
- Event Liability: You are working a trade show and someone trips and falls over your display.
- Up to:
- $1,000,000/$2,000,000 for general liability
- $100,000 for business personal property
- $10,000 inside/$5,000 outside of premises for money and securities coverage
- A maximum property limit of $100,000 for business income with extra expense
- $25,000 included on most classes for errors & omissions
- Equipment breakdown coverage included
The Home Based Business policy provides liability coverage that will satisfy most show and event liability requirements. Liability limits are available up to $1,000,000 and Business Personal Property coverage up to $100,000.
- You operate a small e-bay business and have an inventory of $7,500. A fire in your home destroys or damages your inventory. The Home Based Business policy will provide coverage up to your Business Personal Property Limit.
- Your Home Based Limited Liability Corporation suffers a power surge damaging your computer, telephone, and fax machine, but your homeowner’s policy provides no coverage since the property is owned by the LLC and not the homeowner. Your Home Based Business policy will replace the damaged equipment.
* Insurance varies by state and is NOT available in all states countrywide.