Do I Need Insurance for my Home Based Business?
Thursday, September 24th, 2009Generally, you do not meet with clients at your home office if you run a home-based business. In a home-based business your bigger concern is protecting the equipment (property insurance), not the customer liability (casualty/liability insurance). Depending on the scope of your home-based business, your homeowner’s policy might not be enough to cover the cost of your business equipment. A homeowner’s policy usually covers for a small amount, but it is often not enough to cover you business equipment losses. If this is the case, you will have to shop around for more substantial business insurance or increase the coverage of your homeowner’s insurance. Even if you are not meeting clients in your home, you might have liability issues. If, for instance, you are selling food products wholesale or creating a product, your product will still have liability. You should get special product liability insurance based on what type of business you are doing. The pricing of t .. Read More