Home based small businesses are probably one of the fastest growing business segments thanks in large part to the Internet and a host of other economic conditions that make them more favorable. Is small home based business insurance really needed to protect yourself , your property and your assets?

I’ve always worked with the philosophy that there is a time for everything.  I think too many first time entrepreneurs get bogged down in details and many times end up getting a lot of  “requirements” in place before they even know if there small business is even worth insuring.  Let’s face it, most small businesses don’t even get off the ground and one of the main reasons is the expense burden that many first time entrepreneurs try to bear right of the bat.

Advice on Small Home Based Business Insurance

Here is what I’ve learned by starting and running several businesses both online and off:

Let your business prove itself.  Work with your business and how it functions, what it offers, and take care of your clients.  If the business shows promise then look at  insuring your small business.  Many home based business ideas will be covered under existing policies and insurance requirements my be non-existant for some small home businesses.

Talk to your insurance agent about the business your starting.  Let them know your concerned with making it a success and ask them if insurance is really needed especially during the first 6 months to 1 year.  Ask your agent if you can expand and existing policy to cover any liabilities that you new business may expose you too.

No related posts.

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?

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The term “home business” is HOT today.  The “home business buzz” created my marketers, broadcasting a steady stream of noise, is often times obnoxious, but carries some clues.  Home business ideas number in the millions, whats it all about?

First off, there IS a response that drives the noise, not the other way around, that said, why the response?

People want real.  They look for ways to eliminate fear by gaining control, and today they are focused on finances and lifestyle.  Small business investing, is becoming a laser focused niche. We now have social-preneurs (spell check that!) who not only want to dictate what they will earn, but how many hours they will work. Here’s a headline:

If you could earn 250k this year working 2 hours a day would you do it?

People respond to this. They believe its possible. AND they are willing to make it happen!

Home business, for lack of a better term, is being approached more and more from the perspective of  savvy investment.  Is starting a home business sound investing advice?

I think so.

So what is a home business?  An Internet business? An online commerce portal?

Many times its as simple as a website! Websites make money,and learning how to do it is fast and free, which has appeal for he consumer in all of us!

The best home business investing advice I could give is to: Find a simple way to add value online. Then invest chunks of sweat equity to test. Only drop cash on the winners. Some business start up ideas are worth it…Some just aren’t.

This is smart on a two fold plane. Number one, if you learn enough to actually test an idea, then you approach investing from a hands on knowledge base. That is SMART!!!

And number two, your not throwing moneyat the wall, or wall street, which could be said to be one in the same.(except for a few years on the nineties, hehe)

Investing money in ideas that you understand, have tested yourself, and have genuine interest in is like making a healthy return stew, Yum!

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Business Health Insurance In 2009: Some of The Reasons HSA’s Might Be Smart.

Business or employers offering health insurance at no cost to employees is not a given in 2009. With health insurance cost rising for small business owners and corporations feel the pinch of baby boomer health insurance payouts, alternatives are being sought.

HSA as a Health Insurance Plan

One of the most popular health insurance options with small business owners and employees alike is the HSA or Health Saving Account.  The HSAis popular among younger employees and business owner especially for smart and practical reasons. Business health insurance is not only a variable expense is is considered a risky proposition to employers who have not previously  offered it as a benefit to employees.

Company Provided Health Insurance

The risk with offering a company provided health insurance planis the idea of cost rising, sometimes at double digit rates within one year alone. Obviously this is a disaster as it create a situation where the benefits may need to be taken away… Ouch, is what you might be thinking if your a small businessmanager, owner, or a human resources decision maker.  Regardless of the reason or bottom line need to take away a benefit like health insurance, employees won’t take it well.

Safe Business Health Insurance.

The health savings account is a much safer option as viewed by small business health insurance decision makers for a few key reasons. First of it tends to be a much more efficient health insurance model. Maybe the most. Without going into great detail of the working of the HSA, let it suffice to say that if your under 38 years old, you likely are a good candidate. If your an employee, do some research and talk to your employer about the HSA being an alternative to the high cost of traditional small business health insurance costs.

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