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If I Start A Home Based Business, Will I Need To Purchase Insurance?

There are many things to consider when deciding if a home based business will be right for you. While there are many advantages to being a work from home mum and running a home based business, there are also quite a few questions that come up relating to insurance. Many mums want to know if they start their own home based business, will they need to purchase insurance?

Relating to medical insurance, if your spouse has it though their job and it will cover you and your family members, than you probably not have to purchase any additional medical insurance if you start a home based business. If your spouse does not have medical insurance or you are a single mum, you will need to purchase private medical insurance to insure the medical needs of your family. Since you will be working for yourself, you will not be able to obtain health insurance as an employee. This can often scare away mums who would normally decide to work from home. Before you make any decisions however, research private medical insurance to see if it is something that you and your family could afford.

Another insurance aspect that mums who wish to start a home based business do not consider is home and contents insurance. Many home and contents insurance policies do not cover items which you use for business purposes unless you specifically add them to your policy. You will want to check with the company who carries your home and contents insurance and your insurance policy to see if business equipment or items are covered. If they are not covered, you can easily add them to your policy or purchase a separate policy to cover your business equipment.

Since you will be working hard to start your own home based business, you will want to make sure that you protect your family and your investment. Purchasing insurance is the best way to do both. Before purchasing however, make sure to compare plans and benefits to make sure you are getting the most for your money.


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