Insurance for Home Based Business

Our Home Based Business Product is designed for small, home based businesses with exposures that are either limited or excluded by the ISO Homeowners Product. Specifically, our product offers liability coverage that is not currently available under the ISO Homeowners policy, as well as business personal property protection above the ISO form’s $2,500 property limitation.

Ineligible Home Based Business

Please note we cannot offer coverage to the following:

• Coverage for select home based businesses with greater than $500,000 in Gross Annual Sales
• Businesses with more than one employee (in addition to the owner)
• More than two business related claims in the previous three (3) years

Available Coverage for Home Based Business

• Liability coverage up to $1,000,000
• Business Personal Property coverage up to $100,000
• Off-Premises coverage
• Loss of Business Income coverage
• Optional coverage for Money and Securities
• Equipment Breakdown coverage included in the basic premium
• Professional Errors & Omissions sublimit of $25,000 for specified classes
• Satisfies most show and event liability requirements
• A.M. Best rated A++ carrier

Claim Example for Home Based Business

You operate a small eBay 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.

A customer visiting your home for business slips and falls. Since the customer was at your home for business purposes the Home Based Business policy will provide the needed liability coverage excluded under your homeowners policy.

Your laptop is stolen while you are visiting a customer. The Home Based Business policy provides up to $5,000 to replace your laptop while away from the residence premises.

You are working a trade show and someone trips and falls over your display, the Home Based Business policy will provide the liability protection you need. Your homeowner’s policy provides no coverage since this was a business event.

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.

A fire at your home makes it uninhabitable and your home based business must be shut down. Your Home Based Business policy provides the needed lost income and additional expense coverage.

A power surge caused electrical damage to your home based bakery refrigeration system. The system failed and you sustained food spoilage, repairs to the refrigerator and one day lost income. Your Home Based Business policy provides the equipment breakdown and business income coverage you need.