Do you have business insurance (in addition to your homeowners insurance)? And, if so, is your coverage sufficient? As moms we take extraordinary steps to protect our families. As a business-owner mom, have you also taken steps to protect your business?
Today I attended a really informative workshop about legal risk and planning with a special focus on home-based businesses. Here are a few many morsels to chew on:
- Is your business shifting, growing, or changing? As your revenue picture, products, services and other areas of your business change, your policies may need to change as well. Reassess your insurance needs as you reassess your business.
- Do you have any special circumstances may require special endorsements? If you store inventory for your business in your home, for instance, you’ll need a special endorsement on your policy.
- Have you considered what would happen to your businesses if you were to become disabled, even temporarily? Disability insurance could help to provide a source of income during a difficult time.
Entrepreneurial moms, talk to an insurance agent to evaluate your current homeowners and auto insurance policies, and your business policies, if you have one. Find an agent you feel comfortable with who will take the time to get to know your life and your business so they can best assess your needs. And, be sure to revisit as your business evolves.
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