What insurance coverage gap exists for home-based businesses according to Selective Insurance?

In short

According to Selective Insurance expert Adam Snoke, a standard personal lines homeowner's policy does not provide coverage for business operations, which is a critical exposure for home-based business owners to address with proper business insurance.

Guest · A Unique Series Finale · Uniquely Small Biz · answer at 22:20

Key takeaways

• According to Selective Insurance expert Adam Snoke, a standard personal lines homeowner's policy does not provide coverage for business operations, which is a critical exposure for home-based business owners to address with proper business insurance.

Quote to remember

“You don't start a small business and succeed by playing tentatively, by making moves that are marginal. You have to go all in or you're not going in at all.”

The full answer · about 1 min

According to Selective Insurance expert Adam Snoke, a standard personal lines homeowner's policy does not provide coverage for business operations, which is a critical exposure for home-based business owners to address with proper business insurance.

Key facts

• 89% of companies that lead with customer experience perform financially better than their competitors
• 63% of customers will pay more for a great experience
• 70% of time on the road at Mike Shirley's old firm before starting Family Pet Health

People, companies and topics mentioned

More answers from this episode

• 3:34What are the three key professionals a small business owner needs according to Francine Love?
• 5:32Why did Regina Pasqualone decide to say yes to the Tiny Kitchen Candle Company retail opportunity?
• 6:12How often should a small business review and update its insurance coverage?
• 9:07What percentage of companies that prioritize customer experience outperform their competitors financially?