Home-Based Business Owners, You Need Insurance Coverage

Julieakin • November 15, 2011

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. watch full The Visit 2015 film online

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.

FMM Permit for Rocky Point / Puerto Penasco

May 9, 2025
To update you on what is happening at the Lukeville/Sonoyta border crossing for our insureds traveling to Rocky Point: Depending on the officer, Mexican authorities (Guardia Nacional) are enforcing the FMM and passport requirements, but not consistently. Some travelers have reported crossing as usual without passports, and officers simply waived them through. Others have reported obtaining FMMs at the border, with all travelers carrying passports. If travelers are transparent and declare any alcohol they’re bringing into Mexico, they are being charged a 114% tax. However, some people reported having alcohol but were waived through by officers and did not pay the tax. It appears enforcement depends on the officer, and tourists are currently taking their chances. It comes down to each traveler’s level of confidence and risk tolerance, as enforcement is not yet consistent. Our company’s recommendation is to follow the law: Process the FMM online Print the form Stop at the INM (Immigration) office at the border to get it stamped Reminder: The FMM tourist permit is only for foreign citizens, not for individuals with dual citizenship. Here is the link to obtain the FMM online (in case travelers ask where to process it before crossing the border): https://www.inm.gob.mx/fmme/publico/en/solicitud.html The INM Immigration Office is located in the Aduana building. For your reference, the Gastrak/Sanborn’s location in Lukeville and the Aduana building (just to the left after crossing the border) are highlighted. Additional reminders for this border crossing: All vehicles must have a current, original, valid registration OR the original title/notarized copy. Digital copies or images are not accepted. If the vehicle is not owned by the driver (e.g., a company vehicle, borrowed from family or friends), a notarized letter of permission from the owner is required to take the vehicle into Mexico. Border Hours: U.S. and Mexican authorities have agreed that the Lukeville–Sonoyta border crossing to Rocky Point (Puerto Peñasco) is open daily from 6 a.m. to 8 p.m., with extended hours on Fridays (6 a.m. to 10 p.m.) from March 7 to October 10, 2025.
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