As with all insurance, the critical factors that determine cost are the likelihood of a problem and what it costs to fix it or compensate you. For example, if you are an author writing at home there should be little if any difference in your insurance premium. If you buy an expensive computer and printer, you would then want to make sure that they were covered by your home policy.

Now let's consider the situation if you were making and storing a lot of products, such as toys or clothing. You were also storing containers of business supplies to make these products. No mater how safely you work, in such a case it is likely that you would need extra insurance protection for the business.

KEY AREAS YOU SHOULD REVIEW FOR INSURANCE

Your Home. If you have:

-Business visitors coming to your home
-People working in your home
-Expensive business equipment
-Potentially hazardous activities or materials

Your Car or Truck. If it is used for business purposes.

Products You Sell. If they could cause possible harm.

Services You Perform. If they could create a hazardous condition or liability.

In summary, consider what possible risks your business might have. Remember, today you can be sued for almost any reason. Review your home and vehicle policies and discuss them with your insurance agent. As your buisness grows, review your health and life insurance. A key question: What would happen if you could not run the business?1