Home-Based Business Owners, You Need Insurance Coverage
by: Matt McWilliams
When you start a home-based business, buying insurance may not be your first priority, but you cannot afford to ignore it either. When the unexpected happens -- and it will -- having insurance coverage may mean the difference between the success and failure of your home-based business.
You may not require all types of insurance listed here, but taking some time now to consider your insurance needs can save you money and headaches in the future. Ultimately, after reading this article, the best way to determine your complete needs is to consult with your insurance agent. Explain to them the details of your home-based business and he or she should be able to determine the best insurance coverage for you (and any employees).
Health Insurance
Health insurance should be the first consideration for yourself and any employees you may have. If you have just left your current job to start your own business, you may be eligible for COBRA, which will provide temporary interim coverage. This will keep you covered while you search for the best health insurance policy.
Disability Insurance
Disability insurance will guarantee that you have some income should you suddenly become unable to work because of injury or illness. Having this extra peace of mind is almost always well worth the extra money you pay.
Life Insurance
Life insurance will help ensure that your family has the money it needs should you meet with an untimely death. Some lenders require that you have life insurance before they'll issue a loan; this guarantees that the loan will be repaid if you meet with an untimely end.
Business Property Insurance
Business property insurance helps protect you against loss of inventory or equipment. If your business equipment or inventory is damaged in a flood, fire, or other disaster, this type of insurance will allow you to recoup your losses.
Home-Based Business Owners, You Need Insurance Coverage
When you start a home-based business, buying insurance may not be your first priority, but you cannot afford to ignore it either. When the unexpected happens -- and it will -- having insurance coverage may mean the difference between the success and failure of your home-based business.
You may not require all types of insurance listed here, but taking some time now to consider your insurance needs can save you money and headaches in the future. Ultimately, after reading this article, the best way to determine your complete needs is to consult with your insurance agent. Explain to them the details of your home-based business and he or she should be able to determine the best insurance coverage for you (and any employees).
Health Insurance
Health insurance should be the first consideration for yourself and any employees you may have. If you have just left your current job to start your own business, you may be eligible for COBRA, which will provide temporary interim coverage. This will keep you covered while you search for the best health insurance policy.
Disability Insurance
Disability insurance will guarantee that you have some income should you suddenly become unable to work because of injury or illness. Having this extra peace of mind is almost always well worth the extra money you pay.
Life Insurance
Life insurance will help ensure that your family has the money it needs should you meet with an untimely death. Some lenders require that you have life insurance before they'll issue a loan; this guarantees that the loan will be repaid if you meet with an untimely end.
Business Property Insurance
Business property insurance helps protect you against loss of inventory or equipment. If your business equipment or inventory is damaged in a flood, fire, or other disaster, this type of insurance will allow you to recoup your losses.
General Liability Insurance
Comprehensive general liability insurance is necessary for your home-based business if you plan on having clients or customers visit your home. Whether you plan to hold meetings, allow customers to pick up merchandise, or have members of the public enter your home for any other reason, this insurance will protect you if someone is injured while on your property. This insurance will typically pay for your legal defense should you face a lawsuit as the result of a fall or other damage that occurs on your property.
Business Interruption Insurance
Business interruption insurance will help your business recover from natural disasters. It will cover you for income lost during the disaster, and will pay for operating expenses that continue to accrue, even though your business isn't up and running.
Workers? Compensation Insurance
Workers' compensation insurance is an absolute necessity if you plan on having employees working out of your home. Without workers' comp, you'll be responsible for any medical expenses arising from injuries employees sustain while working for you. Many home-based business owners mistakenly believe that this type of insurance is only required by businesses that have a retail or separate location, but that's not the case. Another mistake is assuming that only ?dangerous? employers (such as construction or movers) need this type of insurance. But what if your employee slips on the stairs or their chair breaks? While those are both unlikely, they are possible and the less risky your business, the cheaper the insurance will be.
These insurance plans can help ensure that you are prepared to face any eventuality that might occur while you are running your own business. Disasters, accidents, and crises can strike at any time. By preparing now, you may be saving you and your company significant financial loss, wasted time, and difficulty.
You may reprint this article on your site or in your newsletter with proper credit to the author and a simple link to http://www.hometownquotes.com.
About The Author
Matt McWilliams is one of the co-founders of HometownQuotes.Com, an online insurance quotes web site. He is originally from Pinebluff, NC and attended Middle Tennessee State University. He is considered an expert in the field of online insurance shopping and finding new ways to help consumers save money on their insurance. For more information visit http://www.hometownquotes.com. MattRMcWilliams@HometownQuotes.com
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Viatical Settlements, Or Life Insurance Settlements
Viatical Settlements, Or Life Insurance Settlements
by: Donald Lusan
When I first heard of viatical settlements, or life insurance settlements, I shuddered at such a dastardly idea. I even put into words my deep feelings. You see I spent many years in the life insurance business and have seen the product work for the betterment of so many. I could not conceive of a pleasant result when one deprives the beneficiaries of what was due them. I guess I had not given the idea much thought, thus my extreme response.
Although I still do not feel it right to deprive beneficiaries of their life insurance proceeds so that an insured can get his or her hands on the proceeds of policies during their lifetime through life insurance settlements with investors, after much study and deep thought I can only conclude that there are situations where this is, not only justified, but is absolutely necessary.
If you bring into the picture the unfortunate person...
Viatical Settlements, Or Life Insurance Settlements
Term life insurance > Viatical Settlements, Or Life Insurance Settlements
Do You Have A ?Universal Life Policy?? What You Don?T Know Could Hurt You And Your Family
Do You Have A ?Universal Life Policy?? What You Don?T Know Could Hurt You And Your Family
by: Raul Ramirez
What kind of life insurance policy do you have? Is it a ?term? policy? Is it a ?whole life? policy or ?universal life policy?? If you don?t know what kind of policy you have, you could be in big trouble. Everyone needs to know what kind of policy they have, how much it is and the most important factor, how long it will last. But too many times in my career I have met with people that don?t know what kind of policy they have or I have heard this ?My husband or wife takes care of that.? What are you going to do when you need to know this vital information? This information could be the difference between being able to pay estate taxes or landing in the poor house. The point is you need to know.
This article focuses on the ?universal life? policy which came really into bloom during the eighties and was touted as a new way to fund life insurance...
Do You Have A ?Universal Life Policy?? What You Don?T Know Could Hurt You And Your Family
Term life insurance > Do You Have A ?Universal Life Policy?? What You Don?T Know Could Hurt You And Your Family
Term Life And Whole Life Insurance
Term Life And Whole Life Insurance
by: Ivon T. Hughes
Which type of policy is best for you, term or whole life? The answer depends on several factors, including:
Your Needs. If you need coverage only until your children graduate from college, for example, you might be better off with a term life policy.
Cash-value insurance is better suited for long term needs, such as planning estate taxes and providing lifetime security for your spouse. Some term policies cannot be renewed past age 70 or 80 and can become costly to renew as you approach that age.
The Cost. If term life insurance is more suited to your budget and you want life time coverage, consider a term life policy which can be converted into a whole life policy. Then you can convert the policy whenever your cash flow or needs dictate. You can also purchase a combination of term life and whole life insurance and gradually shift into whole life insurance over time.
Your...
Term Life And Whole Life Insurance
Term life insurance > Term Life And Whole Life Insurance
Save Money By Getting A Term Life Insurance Quote Online
Save Money By Getting A Term Life Insurance Quote Online
by: Peter Crump
When deciding or choosing what life insurance is best for you, you can avoid feeling pressured into a policy by searching for a term life insurance quote online. The service is terrific and it can be a fast turnaround because you control how fast or slow the process can be. Getting a term life insurance quote online is as simple as the click of the mouse. With so many life insurance companies now operating on the Internet, all you have to do is log onto the various sites and check out the rates for term life insurance.
When you check for a term life insurance quote online, you do not have to pay for the quote. This service is free and you should request quotes from at least three different companies. This way you can do a comparison of online life insurance quotes. Each of the companies has a form that you fill in and they will respond to you with the quote- usually in...
Save Money By Getting A Term Life Insurance Quote Online
Term life insurance > Save Money By Getting A Term Life Insurance Quote Online
Life Insurance ? Why Does The UK Have A ?2.3 Trillion Protection Gap?
Life Insurance ? Why Does The UK Have A ?2.3 Trillion Protection Gap?
by: Michael Challiner
According to Swiss Re, one of the world's largest re-insurance companies, less than half of the UK population has any form of life insurance protection. They then go on to put a figure on the value of this protection gap. Using an average income of ?20,000 and assuming that the value of protection needed ranges between 5 and 10 times income, they put a value on the protection gap at ?2.3 trillion.
But in all probability, whilst the gap is huge, ?2.3 trillion is likely to be somewhat over stated. After all there are people who are disqualified from having life cover due to their age - just over 1 in 5 are under 18 years old, the minimum for life cover, and 1 in 6 are effectively uninsurable as they're over 65. Then there's a raft of persons for whom life insurance is just not necessary. These are people aged between 18 and 65 who do not have dependents...
Life Insurance ? Why Does The UK Have A ?2.3 Trillion Protection Gap?
Term life insurance > Life Insurance ? Why Does The UK Have A ?2.3 Trillion Protection Gap?
Life Insurance Quotes
Life Insurance Quotes
by: Gary Tallon
Shopping online for life insurance quotes is becoming increasingly popular in the UK and throughout Europe. No longer do we have to spend hours on the telephone - much to our employer's disgust - divulging our personal details, only to find that the quotes from the life insurance companies are too expensive or don't match our needs. Neither do we have to concern ourselves with taking time off work to make appointments with life insurance providers, subjecting ourselves to hours of sales talk. Of course, all of these options are still available to consumers should they prefer them, but many are now voting with their mouse and turning to online sources for life insurance quotes.
Tracking down the best quotes for life insurance
Obtaining life insurance quotes online is quick and easy. We can start our search for life insurance at our convenience any time of the day or night. If we want to find life insurance...
Life Insurance Quotes
Term life insurance > Life Insurance Quotes
Long-Term Care Insurance
Long-Term Care Insurance
by: Joseph Kenny
Are you prepared for retirement and old age? While it may still be a long way off and there are usually a lot more urgent things to take care of, dealing with some of the requirements of old age, either for yourself or for someone you care about, a huge difference can be made by a few simple steps.
While saving for a pension and having good medical insurance are two of the most common steps, there is also the scope for long term care insurance, which may also be of great potential use in certain situations. This type of insurance covers the need for assistance in old age. Old age, as well as mental and physical illness can lead to many people needing assistance with such everyday tasks as eating, bathing and dressing. Simply looking after you can be too much for many people and when they are faced with this situation, assisted living and long term care can be an option.
Long-term care insurance...
Long-Term Care Insurance
Term life insurance > Long-Term Care Insurance