Many of the millions of Americans operating full or part time home businesses think the best home based business insurance in 2010 might be none. Home business insurance is at best an wool blanket of double coverage and at worst a complete waste of money depending on the business entity, your daily business practice and the amount and value of equipment you may insure.
When I checked with my business insurance agent he mentioned the items I was concerned with insuring for my home business: like my computer, lap top, printer and various software were already covered under my home owners insurance coverage.
So is home business insurance really necessary for you business in 2010? It’s a great question and I’m always reluctant to give straight away advice on matters so circumstantially dependant. For instance, if you business is primarily operated from you home office but you have clients or customers who actually come there, to the premiss’s, it might be smart to get a home business insurance policy.
Many people opt for a home business liabilitypolicy, if you already have home owners insurance, you probably already have an acceptable home business liability policy as well. Its always best to check with a qualified insurance agent when dealing with protecting your home business assets, and a qualified expert, I’m not.
It is likely its not necessary you have a home business insurance policy in place, I don’t. Of course my business is simple, I don’t have walk-in clients, customers, or the general public entering my home or home office for any reason. As far as my computer, it doesn’t have a lot of value and I back up the stuff that does have value.
Home Business Insurance 2010
2010 is upon us and my have things changed. I think more about insuringmy time and work space than I do the stuff I own or use. One method I employ in by operations which could be considered home buisness insurance is to keep my tools and data systems web based. I do this mostly because it insures me that no matter where I go, I can access my information, my email lists, my customers, my websites, my accounts, etc. I really like this, it lets me work pretty much where ever I’m at at the time. Regardless of the home based business idea having a web based office will pay divedins.
If you have insurance for your home business, let our readers know why.
What is the best home business insurance?
I’ve own a few companies and help dozens of insurance policies and I’d say dealing with local insurance agent for your home business is the best advice I can give. Having a local agent is key to getting the value and piece of mind that you paid for when you decided to get your business insurance policy.
What are your Thoughts?