What is Home Business Insurance?

Home based business policies are designed specifically to handle the insurance needs of a business operating out of an insured’s home. This policy provides Business Personal Property Coverage (equipment, inventory and supplies) and business-related liability exposures. In addition, a Home Business Insurance policy can provide coverage for lost income, and losses or damage from business activities conducted at the insured’s home or off-site at another location. That means, business property is protected while an insured is in-transit, and provides liability coverage when they are performing business-related activities.

But did you also know…

Personal Homeowners Insurance does not adequately cover a Home-Based Business!

Home based business insurance is written under a Business Owners Package Form which allows approximately 70% of business classes;  most common home based business are eligible.  The most common ineligible businesses for the Business Owners Package Program (BOP) would be Automotive related, Transport related & Businesses involved with hazardous materials.   The Business Owners Package is designed to offer a lot of coverage for a much lower premium; thus seeking to insure low risk business classes.