Question by Timothy R: What is the average home business liabilitly insurance monthly premium?
This would be an internet based business run out of my home, with $ 2000 in sales a month.
More specifically, this would be for a home based internet business that does $ 2000 a month in sales, in Illinois and makes no original products, but resells them. I have heard that companies who manufacturer the products hold the liability, not the reseller, is that true? Does it reduce my liability that I do not make the product I am selling?
Answer by mbrcatz17
Depends on what you’re selling, where you’re located, and if you want product liability coverage, or property coverage, or straight liability coverage.
You’re probably not going to be able to buy this on a “monthly” basis, I’d guess an annual premium for a low-hazard product, US liability only, $ 1,000,000 limit would run around $ 1000 – $ 1800 a year.
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