1.844.429.9480
There may be no place like home, but even home-based businesses have exposures. TruShield can help protect your business and cover risks that your standard home insurance policy may not.
There may be no place like home, but even home-based businesses have exposures. TruShield can help protect your business and cover risks that your standard home insurance policy may not.
Home-based business insurance is designed to help protect your business against risks associated with operating a business out of your home. It provides coverage for losses or damages resulting from business-related activities..
Here are some examples of scenarios that highlight why insurance for your home-based business could come in handy.
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.
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!*
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.
Unexpected injuries that occur on your property can lead to costly lawsuits. When a 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
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:
It’s important to think about risks and how you can mitigate them. When trying to identify potential risks, think about the following questions:
Having a business continuity strategy for your home-based business can guide you through an unexpected situation.
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 | |
We’re always open for you. With around-the-clock claims support by phone and online, we make settling claims fast, simple, and stress-free.
Pay for your policy all at once or in convenient monthly installments. We also offer 0% interest and we’ll even accept payment by credit card.
Legal Assist provides you access to legal advice and practical solutions for matters affecting your business. It includes a telephone legal helpline, document review and drafting services, and access to customizable legal templates.
* Legal Assist services are not provided for criminal, personal or insurance issues, do not provide representation in legal proceedings or legal fees coverage and are not an insurance policy. Legal Assist services are provided through ARAG Legal Solutions Inc. by lawyers licensed in the province or territory of your residence.
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.
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.
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.
Commercial auto insurance is designed to cover you, your employees, and your passengers.
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.
Cyber risk insurance is designed to help protect small businesses like yours from certain losses associated with cyber or privacy breaches.
With car insurance from TruShield you get coverage you can count on to get you back behind the wheel after an accident.
Protect your home and everything in it with home insurance from TruShield
Whether it's a business trip, a family adventure or a quick getaway, we offer comprehensive travel insurance packages to keep you and your loved ones safe while you're away.
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 injusries or property damage to a third party caused by the product you sell or the service you provide.
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.
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.
Commercial Auto Insurance
Commercial auto insurance is designed to cover you, your employees and your passengers.
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.
Cyber Risk Insurance
Cyber risk insurance is designed to help protect small businesses like yours from certain losses associated with cyber or privacy breaches.
Car Insurance
With car insurance from TruShield you get coverage you can count on to get you back behind the wheel after an accident.
Home Insurance
Protect your home and everything in it with home insurance from TruShield
Travel Insurance
Whether it’s a business trip, a family adventure or a quick getaway, we offer comprehensive travel insurance packages to keep you and your loved ones safe while you’re away.
Getting started is simple. You can get a customized quote by answering a few questions about your business. Once you’ve provided your contact details, we’ll tell you how much a policy will cost. If you like the rate you see, you can buy your business insurance policy online.
If you can’t get a quote online, don’t panic! It simply means your business requires a more personal touch and one of our insurance specialists can further assist you over the phone.
You’ve spent a long time building your home-based business—let us help you safeguard it.
