Openly's underwriting guidelines for an in-home business focus on two primary areas: determining if a business is operated out of the household, and establishing the frequency of traffic at the property.
Openly can consider properties with an in-home business that have minimal customer / employee visits. However, even when a property is eligible, the policy excludes any losses arising from business exposure.
Agents will see a screening question regarding home-based businesses on the Property Review tab in the portal.
Underwriting
Agents must answer two specific questions in the portal to determine if a home-based business fits Openly's risk appetite:
| Portal Question | How to Answer | Eligibility / Key Notes |
|---|---|---|
| Does the Named Insured (or other household members) operate a business from the household? | The critical factor is whether the home is being utilized to conduct transactions or day-to-day commercial operations. |
Daycare Operations: If the home-based business is a daycare where the insured collects payment to care for multiple children who are not family or household members, the risk is generally ineligible. State Exceptions: Openly does not have an underwriting appetite for those risks–except for Maine and Oregon, where they may be subject to local underwriting guidelines. |
| How many customers / employees visit the home monthly? | Report how many individuals typically visit the property each month. | Openly does not have an underwriting appetite for risks with more than five (5) customer or employee visits per month. Counting Visits: Each day of work or transaction counts as an individual visit (e.g., one employee visiting on six different days in a month = six visits). Coverage Limitation: For eligible home-based businesses with fewer than five visits per month, property and liability coverage will not apply to any loss directly connected to the business conducted from the insured location. |
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