Insurance for home-based entrepreneurs: What does a business policy offer?


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By Insure.com

Forty-four percent of in-home business owners without business insurance say they haven't purchased a comprehensive business package because they thought their home-based business was already protected under their homeowner's policy.

The table below, provided by he Independent Insurance Agents of America, outlines the differences between what is covered under a standard homeowner's policy and a comprehensive business insurance package.

Coverage category	Homeowner's policy	Business insurance package
Structures used for business purposes	Excluded/can be added via endorsement for some businesses only under certain circumstances	Included
Business personal property	Limited to $2,500 on premises and $250 away from premises/Option to increase these limits to $10,000/ $2,000	Included
Business data (printed material and software)	No coverage	Included
Loss of income	No coverage	Included
Crime	No coverage	Included
Premises liability	Excluded/Can be added via endorsement for some business under some circumstances	Included
Off-premises liability	Not covered	Included
Personal and advertising injury	Not covered	Included
Professonal liability	Not covered	Can be added

Last Updated Jun. 30, 2006

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