Home Business Insurance is an essential coverage when there is a home based business. Most, if not all, home insurance companies require it.
Most Home Owners Insurance plans include "Incidental Business" use for contents and liability. But this is not designed for a business operating from home. Incidental Business coverage is for an individual who has an off premises business location where they primarily work. The Incidental Business wording is added for the business owner who occasionally brings their work home.
Work at home types of small business are becoming very common and as a result insurers have met that need by developing Home based business insurance riders and packages that are very affordable.
The packages and riders attached to a home insurance policy cover a wide variety of businesses. Some businesses also require Professional Liability (Errors & Omission) coverage. The following list are some of the more common home based businesses riders.
A brief sample of common home based business includes:
Finance - Investment Advisors, Mortgage Brokers, Accountants, Insurance Professionals, Book keepers, Realtors
Other Professionals - Architechts, Land Surveyors, Appraisers, Paralegal, Professional Counsellors and Engineers
Sales - cosmetics, gift baskets, educational books, household products, Lingerie, Kitchen Supplies
Advertising, Marketing, Graphic Design and Desk Top Publishing
Medical - Audiologist, Dentist, Massage Therapist, Chiropractor, Dermatologist, Naturopath, Optician, Osteopath, Occupational Therapy, Psychologist
Bed and Breakfast
Repair people - Cameras, Musical Instruments, Electronics, Appliance, shoe repair
Crafts people - calligraphers, ceramics, stained glass,
Event Related - party planner, Children’s Party Entertainer, Florist, Photographer
Hairstylists, Barbers, Manicurists, Beauty Salons
Again, these are just a sample of the many home business insurance plans available.
Note: Always speak with a licensed insurance professional about your specific situation. This insurance information is general in nature and the policy wordings always take precedence. It is possible that there are errors and omissions in this website and www.canada-insurance-source.com, or its authors, take no responsibility.
Keep in mind that insurance licensing, legislation, and policies often vary by province and most certainly by country. Canada Insurance Source is a free information source. So use this site to gain a general understanding of insurance with your own area and situation in mind. Make sure you review the "please read" page. Always speak with a licensed insurance professional about your specific situation.
Always speak with a licensed insurance representative about your specific situation.
This site is general in nature and there may be errors or ommissions