Insuring Home-Based Businesses

FREE Continuing Education Course for Insurance Professionals

Did you know there are over 40 million “home offices” and over 11 million home-based businesses? How many of your homeowner's policy clients might have some sort of home-based business? The Homeowner's Policy does not cover liability exposure from a business, and has little property coverage for business equipment. This course defines what a business is, and the insurance limitations of having a business at home. We discuss the differences in owning your own business versus running a business you do not own. We discuss endorsements to increase coverage for a business at home. We define what incidental farming is and what coverage is available for that risk. We address the question: when should a person running a business from home consider buying a full blown commercial policy to cover risk exposures.

What you will learn:

*Home Business Market
*Homeowners Policy Eligibility & LImitations*Business Definition
*Business Pursuits Endorsement
*Increased Limit on Business Property
*Incidental Business on Premises - Property Coverage *Incidental Business on Premises - Liability Coverage *Home-Based Business Endorsement
          -Eligibility
          - Property
          -Business Income
          - Liability
          - Additional endorsement options
*Computer Coverage
*Home Day Care
*Short Term Rentals
          -Homeowners policy limitation
          - Coverage from hosting platform
          -Theft Coverage
*Incidental Farming
          -Liability
          -Livestock
*Other Issues
          -Auto liability
          - Umbrella & professional liability
          -Workers compensation

Approved for 3 P&C Credit Hours in South Dakota, Iowa & Minnesota

 About the Instructor:

Rick Weston has been the General Manager for Insurance Career Training, Inc. (ICT) since 2010. ICT is a leading national provider of insurance continuing education classes, with programs approved in nearly every state. He has been in the insurance industry since 1987. He spent 17 years with Farmers Insurance Group, the last nine years as a District Manager in eastern Indiana. He then spent six years as a District Sales Manager with Shelter Insurance before joining ICT. He has earned the following professional designations: CLU, ChFC, LUTCF, CPCU, FSS
and has taught several courses to assist others in earning their designations. Before beginning his insurance career he received his BA from the University of California – Irvine.

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