Home-based Business - Insurance Issues

Here are some important issues that you need to be aware of before investing your time, money, and effort into a new home-based business.

I have found over the years, that a good lawyer will tear apart any legal entity and expose you to risk if they think that you set up the corporation to hurt people and to prevent them from getting to your assets. Of course, it takes a lot of money and effort to sue and most people give up. In other words, sometimes bad people win.

Insurance is a commonly overlooked facet of running a home-based business. You will need to provide your own health, dental, and life insurance. Do some comparison shopping before settling on a new health plan. Talk to an independent broker who can talk to several potential carriers and investigate joining a Chamber of Commerce in order to gain group rates.

In addition to health insurance, you should also investigate liability and business property insurance. This will ensure that you will not be held responsible in the event of an accident or act of nature.