State Farm

• Select Your Industry
• Coverage Types
• Home-Based Business Insurance
• Business Visa

Select Your Industry

State Farm understands that different businesses need different coverage. Business owners can select the specific industry they are in, and State Farm will give suggestions as to what type of insurance products to consider. This could be anything from liability insurance to business and commercial auto insurance to contractors insurance. The business insurance directory has a vast and diverse selection of small business types, so customers can get select the right industry and get customized coverage selections.

Coverage Types

Depending on what stage a small business is currently in, State Farm may recommend several different coverage types. From companies that are just starting up to mature businesses, customers can consider any of these insurance products:

• Business Owners Policy
• Individual Health
• Commercial Liability Umbrella
• Professional Liability
• Workers’ Compensation
• Employment Practices Liability
• Group Life Insurance
• Errors and Omissions Liability
• Key Employee Insurance
• Executive Benefit Plans
• Estate Planning
• Buy-Sell Agreement

Home-Based Business Insurance

Businesses that are run from a customer’s home may not be covered under many home insurance policies. There are two home-based business services offered by State Farm.

• Homeowners Policy with Business Property Increased Limit

• Covers up to $1,500 worth of personal property (property must be on the residence premise). If the property is off the residence premise, it will be covered up to $750.

However, if this is not enough for customers, they can increase their coverage with a homeowners policy endorsement. Customers should consider this if the following apply:

• They plan to have less than $4,999 worth of business property at the home-based location
• They aren’t inviting clients or other customers to their business location
• They only have $750 worth of personal property intended for use outside the home

While homeowners insurance policies come with liability protection, this coverage does not extend to home-based business activities (for example, if a customer comes to your home to exchange payment for goods or services and suffers a bodily injury, there may not be coverage). State Farm provides a business insurance policy to help with these coverage gaps.

• Business Insurance Policy

• Offer services in the home that may require additional liability coverage
• Plan to have $5,000 or more of business property at the home location
• Rely on the income from your business to support the household

Business Visa

With State Farm, business owners can apply and receive a State Farm Business Visa. The card has a 0% introductory APR on purchases for six months and then goes to a variable rate of 14.99%–21.99% based on creditworthiness. There is no annual fee and the card has Chip Card Technology to ensure greater security. Clients can also earn loyalty rewards for their purchases.

• Have to Contact an Insurance Agent

Have to Contact an Insurance Agent

Business owners looking for a business insurance company might be frustrated with the websites constant referral to a State Farm agent. Although it isn’t the worst offender, it can be frustrating for potential customers just wanting to browse the site. In order to find out more specific information (pricing, qualifications, etc.), customers will have to call a State Farm agent.