Home Based Business Insurance Source/Cost

[maverickx50]

There are several disjointed threads here discussing insurance woes with a few good suggestions sprinkled in. I am in the same dilemma as many here are, or have been, so I thought it might be a nice idea to start an insurance product source thread where we can all share where we eventually found an insurance carrier, what they will and will not insure and approximately what it is costing you. For my purposes this would apply to a start-up small in-home businesses using a ShopBot for woodworking crafts but information that applies to larger more established businesses or businesses in other types of woodworking would also be helpful to our members as well I'd think.

[waterwheelman]

I have a rider on my home owners policy that covers my home based wood working business. It is with Safeco, which I understand is part of Liberty mutual now.

[maverickx50]

Haven't discussed the details with them as of yet but looks pretty good at first blush.

General Liability and Property

$627 Total Annual Premium

The Hartford

AM Best Rating of A (Excellent); Size XV


Liability Coverage: Bodily Injury and Property Damage

$ 1,000,000- General Liability per Occurrence

$ 2,000,000- General Liability Annual Aggregate

$ 1,000,000- Personal & Advertising Injury per Occurrence

$ 2,000,000- Products Completed Operations Aggregate

$ 1,000,000- Damage to Premises Rented to you

$ 10,000- Medical Expenses

$ 10,000- Employment Practices Liability

Property Coverage: Your Property and Your Client's Property in Your Possession

$250- Property Claim Deductible

$40,000- Business Property

$10,000- Business Computers & Media *

$5,000- Laptop Computer - World-Wide