In this economy, working from home can be a practical way to supplement your income, and in the 21st century, there are plenty of ways to do that.
You may run a desktop publishing business, or you may make soap. Perhaps you want to sell the quilts you used to make as a hobby or try your hand at creative garden landscape design.
Whatever you decide to do, you must remember that it is a business, even if you only do it on weekends, and make sure you get the proper insurances.
Unfortunately, all too many people who work out of their homes assume that their renter’s or homeowner’s policy will cover any losses incurred due to the home business.
Sadly, those policies do not cover businesses risk. Furthermore, personal automobile insurance policies usually do not cover your auto when it is being used for business purposes.
It is also important to make sure that your home business has all of the permits and licenses required by your city or town, as many policies have exclusion provisions for “illegal acts” which would include business being conducted without those things. Make sure, therefore, to check the specific ordinances and business permitting required by your city or town.
If you are just starting your home business, be sure to meet and discuss with your licensed commercial insurance agent so that together you can determine the right coverage for your home based business.
Do not risk your home and assets on not knowing. If you have a business, you have risk.