Insurance for home-based businesses: bad news and good news ... and additional good news

I just learned that last week – the second week of October – was National Home-Based Business Week. Numerous factors in our contemporary economy and society are prompting more people than ever to explore the world of home-based businesses.

If you think a home-based business may be the ideal choice for you, you need to explore the insurance implications.

The BAD NEWS is that your homeowners' or renters’ insurance will probably not cover liability claims or property losses stemming from your business activities.

The GOOD NEWS is that insurance for home-based businesses is often less expensive than for traditional brick and mortar businesses.

The ADDITIONAL GOOD NEWS is that you may well be able to write the premiums for your home-based business insurance policy off of your taxes. Talk to your tax professional to learn the specifics.

Talk to your insurance agent to find out what insurance program is right for you. My team is very well-equipped to help you navigate this matter and protect you and your business properly and economically.

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