Thinking of  Starting Your Own Business?

Studies show that nearly 70% of US workers have the dream of starting their own business and it has never been so easy to start a home business.  For many, it is the ultimate American dream and offers the opportunity to achieve financial independence.

If you are planning on starting your own business, there are several insurance issues you must think about as part of your business planning.

A big mistake is to assume that your homeowner’s and automobile policies cover your business activities.  As a matter-of-fact, your business activities could actually invalidate your policy!  What type of home-based business insurance should you buy?  Well, there are several to consider but general liability is at the top of the list.  If you have a relative visiting for a social visit and they fall, you are covered.  If you have a client visiting you and they fall and are injured, your homeowner’s policy won’t cover it.

You also need to insure your business equipment and other assets used for your business.  If you are selling a product, you may need product or professional liability insurance to protect your assets in the event of a claim.  Errors and omissions insurance is recommended if a client could feel injured if your advice was inadequate or incomplete.

If your business becomes your full-time livelihood, you should consider disability insurance in the event you can’t work due to an injury.

Starting your own business is both exciting and stressful.  The proper insurance is a must for your business.  If you are thinking of starting a business, be sure to contact us immediately so we can insure that you have the proper coverage to protect your assets.