Blue Zebra reviewing home business insurance after increase in broker enquiries

10 November 2022

Underwriting agency Blue Zebra aims to expand the list of occupations covered by its Home Business Extension product in response to increased enquiries from its broking partners.

Chief Underwriting Officer SME Mark Polglase says potential new additions include soft manufacturing, cake decorating/making, florist, e-commerce, pet grooming/sitter/walker and consulting services.

“The new proposed occupations under consideration have been suggested by brokers following an increase in enquiries from small businesses operating from homes,” Mr Polglase told insuranceNEWS.com.au.

“There seems to be a very broad range of activity now being conducted within residences.”

Blue Zebra is also engaging with brokers who are being overwhelmed by incoming enquiries to identify occupations that are not currently eligible for the Home Business Extension offering.

The underwriting agency’s move to review the list of occupations comes as Australians with a home-based business or side hustle struggle to find appropriate insurance that would cover their commercial activities.

Public awareness of the insurance challenge has risen after ABC News reported many were told to look for a new insurer or risked voiding their home and contents cover. Insurers say home and contents insurance is not designed to cover home-based businesses.

Blue Zebra has been offering the Home Business Extension product as an option to its Home Building & Contents Accidental Damage since its original launch.

The Home Business Extension product is distributed via brokers and its coverage includes $20 million legal liability, revenue protection and asset protection.

“Like all businesses, home based operators need to ensure the correct level of insurance is purchased to protect the business, the business owner, customers – and the home premises,” Blue Zebra says.

“Standard Home policies generally exclude or do not provide adequate cover for home-based business activities, whilst Business Package products are too complex and unaffordable for most small home businesses.”