Business Insurance for Your Kid’s Home-Based Startup

 In Blog, Business Insurance
Avoid holiday insurance claims

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If you’ve seen one episode of Shark Tank, you know that millennials are independent, innovative entrepreneurs. They don’t conform to corporate positions and the 9-5 daily grind. They make their own rules, and that means taking control of their future and starting their own independent businesses. Of course, millennials are plagued by the same need to save on startup costs, so what better way than to live at home and start their empire from their parent’s garage or basement? However, despite the convenience of working from home, you still need to get business insurance if your kid is working from your home.

Business insurance in Colorado

Talk to an independent agent about insurance for your home and your kid’s home-based business.

Parents could be held liable for your kid’s home-based business

It may seem like a harmless endeavor, letting your millennial work from home, after all, they don’t have employees; they are a solo operation, and they work from their laptop, so what’s the harm, right? Well, if you are running any type of business from your home, whether it’s your business or your kid’s, you are the one responsible in case anything goes wrong. If anything happens – theft, fire, injury, or lawsuit – it is the homeowner who will be held responsible, and without proper business insurance, you could be left all alone to pay a very expense bill. Also, you may risk your home insurance policy, as an insurance company won’t see too kindly on you omitting your home-based business.

If you have extra office equipment, sensitive client information, visiting clients, and vendors coming to your home because of your business, then you need extra insurance. Your home insurance won’t be happy about you trying to file a claim for a slip and fall if they find out if was because it was a client coming to do business.

Save money on home insurance by getting home business insurance

Business for home based startup in Colorado

If the mailman slips on your property while delivering packages to your home business, your home insurance will deny your claim.

If you work with the right agent, you may actually be able to get a bit of a break on your home insurance when you purchase insurance for your business. Working from home means that you are home more often. An occupied home is less likely to fall victim to theft, and this could lower your home insurance premiums.

Working with an agent instead of trying to find heads and tails on the best insurance online will give you a partner who is looking out for your interests. Even though you are an independent business owner, you still need a network of people who want to see you succeed. An independent agent is working for you, not the insurance company, and will be able to reach many providers to find you the best insurance. Working with an agent is smart and efficient, and it can save you money – something that every entrepreneur will appreciate.

Work with an independent agent to find the right insurance for your home-based business

Talk to an agent about home business insurance in Colorado.

 

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