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One area that most start-up home-based business owners ignore or just plain don’t think of is Insurance. And yet, it is so vital to the way we live and the way we conduct our business. Types of insurance vary so it is important that you take the time to consider what the requirements are for your home-based business and for your family. Here is a checklist of what you should be reviewing:
1. Health – everyone needs this; so if you don’t have a spouse or other family member that can include you, you must obtain a policy that will cover you and your dependents. Additional coverage will be needed for dental, vision, etc.
2. Life – this will ensure that your dependents will be taken care of in the event of your demise.
3. General Liability – clients, delivery people, etc. will be coming to your home; you need to be covered in the event they get hurt while they are in your home or on your property. You will also need coverage for your visits to your client’s home or business in case you break something or lose their files or products. Also, take a look at your automobile policy. If you are carrying things that belong to your clients and they get damaged or stolen, you will need to be covered.
4. Business Property – you might want to consider insurance that will protect inventory, equipment, etc. from fire, flood and theft.
5. Business Interruption – if and when a natural catastrophe occurs and you cannot work right away, this type of coverage will provide funds you will need to live on until you can resume your business activities.
6. Disability - if you are injured or ill, this insurance will supply financial assistance until you are back on your feet.
Every business owner should take the time to consult with an insurance broker. He or she will explain what each type of insurance covers and what the cost would be. For peace of mind, it is worth every penny you spend. Every home-based business owner should be smart enough to know that!
Helene K. Liatsos
The Home-Based Business Expert!Home Office Management Experts
www.thehome-office.com
SUMMER SALE: 1/2 Price on DVD: How to Start and Operate Your Own Home-Based Business
1 comment:
Good Share.I hope more people discover your blog because you really know what you're talking about. Can't wait to read more from you!
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