Home-Based Business Insurance

By Carol Voorhis

Woman types and smiles at laptop

Do you sell clothing, Tupperware, nail art, makeup, skin care, jewelry, or homemade crafts out of your home? If you do, then you’re already familiar with the significant investment that goes into building and maintaining a business. Now, if your inventory were to be stolen or damaged due to a loss, what would you do? Could you afford it? Most likely, your answer is probably something like, “WOW, I didn’t think of that!” If that’s the case, then let’s discuss how a home-based business policy can cover you and your inventory in the case of an unexpected loss.

With selling platforms such as eBay, Etsy, Facebook and Instagram becoming more accessible, and with the increased availability of technologies like Cricut and Silhouette machines, photography equipment and more, lots of people have begun trying their hands at a “side” business out of their home. At Hanson & Ryan, we work with USLI’s CoverSmart to offer at-home business owners inexpensive, quick and easy solutions for protecting their home-based businesses. With average rates of $300 per year, you can’t afford to not insure your business!

What does a home-based business insurance policy cover?

There are some common situations that a homeowner’s insurance policy will not provide coverage for, but that a home-based business policy will. They include, but are not limited to:

  • You are at a craft fair and someone steals inventory from your table.
  • A fire at your home destroys or damages your inventory.
  • A customer slips and falls, incurring injuries at a pop-up party in your home.
  • A customer was drinking wine at your pop-up party and gets into a car accident on the way home, and you can be held liable.

Types of Home-Based Business Insurance Coverage

A home-based business policy offers a variety of coverage options. Below are some of the major coverages you will find in your policy.

  • Coverage for property you sell while it is at your home (up to $100,000)
  • Coverage for property you sell while you are off the premises of your home at a craft fair or pop-up party in another location (up to $15,000)
  • Liability coverage (up to $1,000,000)
  • Coverage for loss of income

Home-based businesses that can be covered

We insure representatives across a wide array of home-based companies and industries. Here is a list of some of the most common home-based businesses that insurance can help protect:

  • Amway
  • AVON
  • Chloe + Isabel
  • Cookie Lee
  • Creative Memories
  • do Terra
  • EVER Skincare
  • Herbalife
  • Jamberry
  • Lip Ink International
  • LuLaRoe
  • Mary Kay
  • Nefful USA, Inc.
  • Nu Skin
  • Premier Designs, Inc.
  • Pure Romance
  • Purse Party
  • Rodan + Fields
  • Silpada
  • Stella & Dot
  • Tastefully Simple Inc.
  • The Pampered Chef
  • Thirty-One Gifts
  • Tupperware Brands
  • Young Living
  • DJ businesses
  • Photography businesses
  • Tutoring services
  • Homemade crafting businesses

If you create any sort of homemade crafts for sale, reach out to your insurance agent to discuss your eligibility for a home-based business insurance policy. Most crafted items will be covered under a home-based business insurance policy.

New Jersey Home-Based Business Insurance Agents

Why take the chance of not having proper coverage for your home-based business? Contact Hanson & Ryan to discuss your options for insuring your home-based business, and one of our knowledgeable insurance representatives will be in touch.