Skip to navigation Home-based business insurance doesn’t have to be scary. Learn more and buy! What could impact your home-based business? Your inventory gets damaged or stolen Your inventory can quickly be exposed and damaged by unexpected scenarios, including fires and floods. For example, a hardwood flooring business in Ottawa lost more than $400,000 in inventory due to water damage from a sudden storm. A customer catches a mistake in your work If a client suffers a loss because of errors in your work, they could file a costly lawsuit against your small business. Our data shows that lawsuits stemming from faulty work can cost small businesses an average of $14,000*; some lawsuits can cost over $150,000!* Your essential business equipment breaks If your specialized equipment gets damaged from fires, floods, or mechanical breakdowns, your warranty might not cover it. Most home insurance policies also don’t provide coverage if your specialized equipment gets damaged. A visitor gets unexpectedly injured Unexpected injuries that occur on your property can lead to costly lawsuits. When a costly lawsuit stems from a slip-and-fall injury at your home, your home insurance policy may not cover it. * Northbridge Financial Corporation internal claims data from 2018 Does home insurance cover home-based businesses? The truth is, your home insurance policy is likely missing key coverages you need to protect your business and its assets. Your standard home insurance policy won’t cover common scenarios you may face, including: If a customer files a lawsuit against you and your business If a product you make or sell causes bodily injury or property damage If your business inventory gets damaged or stolen If expensive business equipment gets damaged or stolen If your business equipment causes an electrical fire or similar disaster If your business needs to temporarily close after a sudden disaster If a visitor slips and falls on your property If you damage property belonging to someone else Ways to minimize potential losses at your home-based business It’s important to think about risks and how you can mitigate them. When trying to identify potential risks, think about the following questions: What are things that can go wrong? What can you do to prevent harm? If something goes wrong or harm is caused, how will you respond or pay? Having a business continuity strategy for your home-based business can guide you through an unexpected situation. What does home-based business insurance cover? Damaged equipment, stolen inventory and customer slip-and-fall accidents on your property are just a few examples of the common risks that are covered by home-based business insurance. Covered by home insurance policies Covered by TruShield home-based business insurance policies Customer lawsuits X Liability from product or operations X Damaged or stolen business inventory X Damaged or stolen business equipment X Disasters caused by business equipment X Temporary business closure for repairs X Customer slip and fall X Customer property damage X Commercial General Liability Commercial general liability insurance is designed to protect you and your business from a loss if you're found legally liable for bodily injuries or property damage to a third party caused by the product you sell or the service you provide. BEST FOR Bodily injury Property damage to third party Costly injury lawsuits Get a quote Learn more about commercial general liability. Commercial Property Insurance Commercial property insurance doesn't only protect the building you use, but a long list of things inside including equipment, inventory, furniture, computers and other electronics. BEST FOR Equipment loss Outer building loss Get a quote Learn more about commercial property insurance. Business Interruption Insurance Business interruption insurance will help to pay for your loss of business income if you suffer a covered loss at your business location. If you suffer a loss and extensive repairs require you to close your business temporarily, you'll lose out on crucial business income. BEST FOR Rent, hydro, electricity, and other utilities Payroll for your employees Other expenses, such as alarm monitoring and property taxes Get a quote Learn more about business interruption insurance. Commercial Auto Insurance Commercial auto insurance is designed to cover you, your employees and your passengers. BEST FOR Injuries to you, your employed drivers as well as passengers Loading and unloading liability Replacement car coveage Get a quote Learn more about commercial auto insurance. Product Liability Insurance Product liability refers to situations where a customer purchases a product, and an issue with the product causes a bodily injury or property damage to a 3rd party. BEST FOR Products that cause bodily injury to the customer Products that cause property damage Sickness caused by food or beverages Get a quote Learn more about product liability insurance. Cyber Risk Insurance Cyber risk insurance is designed to help protect small businesses like yours from certain losses associated with cyber or privacy breaches. BEST FOR Cyber breaches Incident response expenses Data recovery expenses Get a quote Learn more about cyber risk insurance. How it works Use our interactive online tool to learn how to protect your home-based business, understand your business insurance needs, get a customized quote, and buy a business insurance policy in just a few short minutes. You’ve spent a long time building your home-based business—let us help you safeguard it. Head office TruShield Insurance 105 Adelaide St. West Toronto, ON M5H 1P9 1.844.429.9480 Monday to Friday 8:30AM to 5:00PM ET 4.0 Read our 110+ reviews Business Insurance in Canada Ontario Toronto Ottawa Hamilton London Mississauga Kitchener British Columbia Vancouver Kelowna North Vancouver Alberta Calgary Edmonton Nova Scotia Halifax Manitoba Winnipeg Send us a message Contact us to learn more about how we can help with your small business insurance needs. Get in touch Terms, conditions and exclusions apply, see policy for details. The services described on this website are not insurance policies and not all policies are eligible. 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