Home Based Business Frequently Asked Questions
Question: What are some of the policy features for RLI’s Home Based Business insurance?
Answer: Comprehensive coverage provided by RLI includes:
- Liability limits up to $ 1 million
- Satisfies most event or show liability requirements
- $5,000 per person for medical payments
- Business property protection up to $100,000. Theft included
- Loss of income coverage
- Optional coverage for money and securities
- Optional electronic data processing coverage up to $25,000
- $250 deductible on property losses
- Premiums starting as low as $150 annually
Question: Is the coverage similar to a policy that a commercial business location might carry?
Answer: Yes. Your business location is your home.
Question: Is there a specific amount of business property I need to carry?
Answer: Your business property should be 100% of the replacement value.
Question: Does the business liability coverage extend beyond the boundary of my home?
Answer: Yes. It follows you and your business away from your home. It can be extended to an event that you may be attending.
Question: Does the liability include “professional liability”?
Answer: No. Professional Liability is excluded.
Question: Does the policy provide product liability and completed operations coverage?