Being a stay-at-home mom can be more time-consuming than the job you held before the children arrived. Taking care of children, the house and the yard is an endless job and you don't get a paycheck for it at the end of the week. For this reason, many mothers start flexible businesses at home and become work-at-home mothers. From babysitting to designing websites, creative moms are finding way to earn some extra cash. Discover four reasons to get small business insurance for a home based business, no matter how small your enterprise might be.
1. Accidents Happen
No matter how careful you are, accidents can happen. It could be a client coming for an appointment who trips and falls over the edge of a rug by your front door. If an accident occurs in your home during the course of doing business, it might not be covered by your homeowners or renters policy. It is important to have a business insurance policy to cover the cost of injuries and other claims that could be made as a result of the accident.
2. To Err is Human
Whether you are a conscientious worker or a quintessential professional, people may accuse of you making mistakes. Even if you did not make an error, a client can state that you did. It could involve legal proceedings and you might need to pay certain expenses. Having business insurance helps you cover the cost to defend these claims and pays a portion of the costs if you are found guilty of making a mistake
3. Protect Your Personal Assets
It can take years of hard work and saving to buy a house, purchase a vehicle and accrue other assets, such as a savings account. If your business faces a claim and does not have insurance, you could be held personally liable. You could even lose everything you worked for. Business insurance covers claims against your enterprise and helps protect your personal assets from being seized.
4. Remain Profitable
When you add to your hectic schedule and become a work-at-home mom, your major goal is to earn extra money for your family. If you face a claim against your business, it can cut into your profits. You deserve every penny you earn. Having insurance helps to ensure your business remains profitable.
Consider the cost if a child you babysit gets hurt or if a client accuses you of making an error. Your enterprise and family deserve to be properly protected. Talk to your insurance company or a local insurance broker about affordable policies for your home business.