Necessary Home Insurance?

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Well, that all depends If you have insurance, you probably won t

use it. If you don t have it, you ll probably be sorry.

Insurance is just one of those necessary evils. Keep the

following points in mind when you consider whether or not you

need home based business insurance.


First, will you be obtaining a business license of any kind? If

so, you will need to check the licensing requirements. Some

local governments require that you maintain a certain level of

liability insurance especially if people will be coming to your

home during the course of your business. If your local

government doesn t require home based business insurance, then

you must look at your individual situation and make that call.

You may want to consult a licensed insurance agent to advise you

of possible affordable options.


Will you keep an inventory in your home? In that case, you will

probably want to insure it against a potential loss. Most

homeowners  insurance policies do not cover the loss of business

supplies so check with your local insurance agent to find out

the best option for your home based business insurance needs.


If you will use your car consistently in your business, you will

probably need to contact your auto insurance agent. Premiums

usually increase when you drive your car for regular business

use. One thing to keep in mind is that business use of a car is

often tax deductible so this can help defray the added home

based business insurance cost.

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Many people run their businesses without any type of insurance

sort of  under the table  if you will. This is probably fine if

you run a fairly small operation and don t mind replacing any

materials that you lose. However, if you anticipate people

coming to your home or maintain a significant inventory,

wouldn t you rather be safe than sorry? Starting a business is

hard enough without risking the loss of all of your hard work

because you didn t invest in home based business insurance.

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