“While it is pleasing that most owners would speak to an insurance agent about the insurance they need, with so many home-based businesses having no insurance in place, there is a huge opportunity for us to do more to help this thriving sector,” said Jill Bryant of AXIS Insurance. (Credit: Marius Venter/Adobe Stock) “While it is pleasing that most owners would speak to an insurance agent about the insurance they need, with so many home-based businesses having no insurance in place, there is a huge opportunity for us to do more to help this thriving sector,” said Jill Bryant of AXIS Insurance. (Credit: Marius Venter/Adobe Stock)

Whether it was a side hustle turned full-time, a desire to be their own boss or the need to follow their true passion, in recent years many Americans have started a home-based business.

To date, there are more than 15 million home-based businesses (HBB) in the U.S., according to AXIS Capital, which found that 44% of HBB owners either don’t have commercial insurance or don’t know what they are covered for.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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