Do you run a business out of your home
or have a hobby that earns income?
Two out of every three people who run a business or hobby out of their home do NOT have adequate insurance. Most homeowners policies are not designed to cover losses from the business.
A Home Based Business policy can provide you with the right coverage. With average rates of $400, you cannot afford not to insure your business!
Consider the following that may not be covered by a homeowners policy:
- A DJ at a birthday party has $4,500 of sound equipment stolen
A photographer forgets to use the flash and misses most of the pictures at the wedding reception. The bride and groom sue the photographer for $15,000.
- A representative for Pampered Chef has $2,700 of inventory in their home. The inventory is destroyed when a fire damages the home.
- A customer visiting your home for business slips and falls. Since the customer was at your home for business purposes the coverage is excluded under your homeowners policy. Home Based Business policy will provide the needed liability coverage.
- 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 teacher tutors children in math throughout the year.
- A student trips and falls at the teacher’s home resulting in injuries. The parents sue the teacher for $42,000.
- A person sells crafts at regional craft shows throughout the year. An attendee slips over the display and falls into the neighboring booth. The attendee has $10,000 in injuries and the person in the next booth has $3,500 in damaged inventory.
- Claire has a table for her Rodan + Fields business at the local craft fair. Someone stole some of her inventory while she had her back turned. Your Business Insurance would respond under the business personal property off-premises limit.
- A fire occurs at your home and damages your $7,500 LuLaRoe inventory. Your homeowners policy will exclude coverage because the inventory is business personal property, but a Business Insurance Policy provides up to $100,000 for on-premises business personal property
Whether you are selling clothing, jewelry, skin care products, Tupperware, nail art or make up, you have invested a lot of time and money into your home based business. Think about the cost of the inventory in your possession right now; is it an amount you can afford to lose?
Most homeowners policies will not protect you in the following common situations, but a Home Based Business policy would:
- Someone steals some of your inventory at a craft fair
- A fire at your home damages your inventory
- A customer slips and falls, injuring themselves, at a pop-up party in your home
- A friend, who was drinking wine at your pop-up party, gets in a car accident on the way home, and you are held liable
A Home Based Business policy offers important coverages, including, but not limited to:
- Coverage for the property you sell while it’s at your home (up to $100,000)
- Coverage for the property you sell while you are off the premises of your home (up to $15,000)
- Liability coverage (up to $1,000,000)
- Coverage for loss of income
Pre-qualified home based businesses include:
- Chloe + Isabel
- Cookie Lee Creative Memories
- EVER Skincare
- Lip Ink International
- Mary Kay
- Nefful USA, Inc.
- Nu Skin
- Premier Designs Inc.
- Pure Romance
- Purse Party
- Rodan + Fields
- Stella & Dot
- Tastefully Simple Inc.
- The Pampered Chef
- Thirty-one Gifts
- Tupperware Brands
- Young Living
Ph: (714) 453-0700
421 S. Main St
Orange, CA 92868