The Buckster writes: The topic of insurance is very important to all stages of business. I thought it was important that small businesses working out of the home also get a better understanding of insurance and how important it is for the business. Personally, I started my business out of my home and at the time I started my business I knew I needed insurance but did not know what kind I needed. There are so many types of insurance just based on the types of work being performed. For instance, in my line of work I need to be bonded. Which meant in the event that I did not come through on my service then the insurance company would pay for anything that I did not complete and pay for the loss time to the project. Even working out of my home, based on the project, drives what type of insurance I needed just from a project point of view. Now, working from home there are the four foundational insurances that each small business needs to know about. They are General Liability, Product Liability, Professional Liability, and Commercial Property insurances. For a home based business the last Commercial Property is not important but each small business needs to know about it for later once the business begins to grow and move into a office space. The article Do I need Businss Insurance touch on these three areas of insurance and does a good job of explaining how each one works. Excellent Read!!!
Working from Home: Do I need Business Insurance?
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