If you have a home-based business, it’s important that you carefully consider your risks and insurance needs. Starting any business can be challenging, and having the right insurance can provide you with financial security and peace of mind.
If you are considering insurance for your business here are some questions to ask yourself (as recommended by the Insurance Information Institute):
• What type of business do I run? What are the potential risks faced by your type of business?
• What is the value of my business property? Do you have expensive equipment, such as cameras or commercial printers? Do you stock valuable business inventory, such as gemstones?
• Does my business have employees?
• Do customers or contractors visit my business at my home?
• Do I use my car or other vehicles in the course of my business operations?
• Does my business store customers’ financial and personal information on a computer or through a cloud computing service?
The answers to these questions will help guide you to which types of insurance to purchase and how much coverage you’ll need. Some of the insurance types to consider include Property and Liability insurance, Business Vehicle insurance, and Workers Compensation insurance. To learn more about insurance for your home business, contact The Reis Group.