It’s not a secret that this past year has been a super-crazy and hectic year in terms of job security and routines in general. Some people have been let go from jobs that they’ve held for years, while others who have just gotten on their feet have entered the job market at one of the toughest times to look for a job. Basically, everyone is doing the best they can and has really started to evaluate what is important in their life, and how to make it during this tumultuous time and the job market. It’s been a true opportunity for some to turn sour grapes into sweet lemonade.
Some have decided to follow their lifelong dreams by following their hearts and opening a business of their own. This time period has been the perfect opportunity to say, “Today’s the day to start fresh.” Thousands of people have started their home-based businesses, and are now making a living making crafts to sell online, baking cupcakes for family and friends, and busting out the camera to study photography to make lifelong memories for others. Some examples of popular home-based businesses right now are baked goods baker and decorator, charcuterie board creator, jewelry maker, homemade cosmetics, artist, financial consulting, marketing consulting, graphic design, furniture maker, builder, and more. With online classes such as MasterClass, folks are tapping into their inner creative selves and making a full-on business out of their once-hobby. These new beginnings are exciting, but require protection that you may not have thought about.
Being self-employed has its benefits, like a steady stream of coffee freshly brewed in the kitchen, not sharing a bathroom with coworkers, and the ability to microwave whatever leftovers, including fish, that you want without anyone whining. Oh, and wearing pajamas whenever you want to. But of course, there are risks to stepping out on your own, especially when your business is run out of your home.
This specialized type of insurance helps cover certain costs that may arise if you are sued or have any legal claims made against your business. We’re not saying you are putting dog hair in your homemade cupcakes on purpose, but the chances of being sued by an irritated customer are not zero. Even though you spent hours on your specialized homemade face cream, someone might not be as appreciative if they happen to have an allergic reaction and sue you. As much time as you put into your job, you should have the proper coverage to protect its future with home-based business insurance.
If you’ve started a home-based business recently, you’ve already been through enough change and confusion for the whole year. Instead of doing this on your own, be sure to reach out to our team so we can be absolutely sure (together!) that this is the right thing for you. Having the proper coverage can mean the difference between life and death for your newly-sprouted business. Don’t let legal fees and out-of-pocket expenses kill the future of your craft. We’re in the office, or just a phone call away.
In case you missed it: Check out “Tax Returns Have Arrived: You’re Rich!” and see if you’re living your life to the fullest but not completely protected. High net worth insurance can cover your precious, hard-earned assets if life happens.
