Several factors contribute to the cost of home business insurance, including the size of your business and its risks. Cost estimates are sourced from policies purchased by Insureon customers.
Home-based businesses pay a median premium of $25 per month, or $300 per year, for a business owner’s policy. This policy bundles general liability insurance with commercial property insurance, usually at a lower rate than if the policies were purchased separately.
Offering both boosted coverage and savings, a BOP is the preferred policy for comprehensive coverage.
Among home-based companies that purchase a business owner’s policy with Insureon, 39% pay less than $250 per year and 35% pay between $250 and $500 per year. The cost depends on the value of your business property.
Most home-based businesses (90%) choose a business owner’s policy with a $1 million per-occurrence limit and a $2 million aggregate limit.
High-risk businesses typically pay more for a business owner’s policy than low-risk businesses. Your level of risk, the value of your business property, and your policy limits will affect your premium cost.
The annual median cost for a virtual office assistant is $495, while the median for an event planner is $182 – or about $15 a month. As you can see, the cost varies greatly depending on your profession.
Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's business owner's policy cost analysis page.
Virtual assistants, DJs, cake and cookie bakers, and other home-based professionals pay a median premium of less than $35 per month, or $400 annually, for general liability insurance. This policy provides protection for third-party bodily injuries and property damage, along with advertising injuries.
Insureon’s licensed agents often recommend a business owner's policy over a standalone general liability policy.
Most home-based companies choose general liability insurance policies with a $1 million generic limit and a deductible of $500.
Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's general liability insurance cost analysis page.
Home-based professionals pay a median premium of about $20 per month, or $235 per year, for professional liability insurance. Also known as errors and omissions insurance, this policy offers critical coverage, including legal fees related to professional mistakes and accusations of negligence.
Low-risk businesses can add professional liability to a BOP for a single premium.
Most home-based companies choose professional liability insurance policies with a $1 million limit and a deductible of $500.
Learn how to save money on your policy, which coverage limits to choose, and more on Insureon's professional liability insurance cost analysis page.
Insureon’s home business insurance agents work with top-rated U.S. carriers to find affordable coverage that fits your business. Apply today to compare multiple quotes with one free online application. Work with an account manager specializing in the unique risks of wedding planners, DJs, and writers.