4 Reasons You Should Insure Your Home-based Business

​Not a lot of home entrepreneurs have or even consider getting insurance for their home-based business. They think that their home insurance covers their business since it is being operated in the same location.

Here are the 4 reasons why you should insure your home-based business.

1. You Have People Working For You
   Business insurance will cover your employees in the unfortunate case they become injured due to work. In case this happens, you will not need to get funds from your profit to cover his hospital and recovery expenses but rather your business insurance will cover it, 
   
   This is called having general liability. This covers your employees, business properties, products, service, and mishaps. 
   
   Think of it this way: if your brother dislocates his shoulder at your home, your home insurance will cover it. But, if it happens to a business client, your business insurance will be the one to cover it.
   
   
2. You Can Lose Everything
   Not everyone wins in their businesses. Insurance will help “dampen” the damage in case something tragic happens to your business like having your equipment or assets stolen.
   
   This could lead to losing literally everything your business has. If you do not have insurance, it will be your personal finances that will be taking the brunt of it. Insurance acts as a shield that protects you from the full damage of failed business.
   
   
3. Your Home Insurance Won’t Cover It
   Again, your home insurance will not cover your business affairs. You do not want to learn this the hard way.
   
   Most home-based entrepreneurs buy a car. This could be either to deliver goods to their customers, transport raw materials and finished product to and from a warehouse and as a vehicle for the employer and his/her employees. 
   
   If your car insurance will not cover it, your business insurance will. 
   
   
4. You Are Providing a Service
   From professional advice to birthday cakes, it is not rare for a service to go awry. And if it does, your customer will likely be incurring damages. Your business insurance will cover it. The same goes for products. Especially for business involving consumable (food and cosmetics) products, business insurance is a must, 
   
   This allows for the business to keep running despite having money flowing out due to covering an expense. Those who do not have business insurance can go bankrupt due to massive expenses that insurance could have covered.   

At Black And Associates Insurance, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (509) 464-0058. You can also request a free quote by CLICKING HERE.