home-based business insurance

health insurance

Health insurance should be your first consideration. If you just left your current job to start your own business, you may be eligible for COBRA, which will provide you with temporary interim coverage. This will keep you covered while you search for the best health insurance policy.

Disability insurance

Disability insurance will guarantee you some income in case you are suddenly unable to work due to injury or illness. Having this added peace of mind may be worth the extra money you pay.

Life insurance will help ensure that your family has the money they need in case you meet eternal death. Some lenders require you to have life insurance before issuing a loan; This guarantees that the loan will be repaid if it meets an unlimited end.

commercial property insurance

Commercial property insurance protects you against the loss of inventory or equipment. If your business equipment or inventory is damaged in a flood, fire, or other disaster, this type of insurance will allow you to recover your losses.

General liability insurance

Comprehensive general liability insurance is necessary for your home-based business if you plan to have clients or customers visit your home. Whether you plan to hold meetings, allow customers to pick up merchandise, or have members of the public enter your home for any other reason, this insurance will protect you if someone is injured while on your property. This insurance will generally pay for your legal defense in the event you face a lawsuit as a result of a fall or other damage that occurs to your property.

business interruption insurance

Business interruption insurance will help your business recover from natural disasters. It will cover you for lost income during the disaster and pay for operating expenses that continue to add up, even if your business isn’t operating.

worker’s compensation

Workers’ compensation insurance is vital if you plan to have employees working outside of your home. Without workers’ compensation, you will be responsible for any medical expenses that arise from injuries employees sustain while working for you. Many home-based business owners mistakenly believe that this type of insurance is only required by businesses that have a separate retail store or location, but that is not the case.

These insurance plans can help ensure that you are prepared for any eventuality that may occur while running your own business. Disasters, accidents and crises can happen at any time. By preparing now, you can save your business a significant amount of money over time.

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