Working from home as an independent consultant selling merchandise is a great way to make money, especially in the digital age. But with this employment opportunity comes risks and liability, and you want to be sure you have the right insurance coverage necessary.
Business insurance is something to consider, especially if you are considered your own independent employee, and people are purchasing items directly from you. Here are things to talk with a business insurance agent about when getting quotes for the coverage you need.
If someone is harmed by your product in any way, or if they are harmed at one of your parties or events, they may try to turn around and sue you. You want liability protection that will cover:
These are just some of the things that the insurance agent will talk with you about when you are picking the right type of liability coverage, and they will have other information and details to go over, so you have the right coverage specific for your industry.
As an independent consultant, you may preorder a lot of inventory, so you can sell it at your events, and fulfill orders quickly. This could be hundreds or thousands of dollars in inventory that needs protection and insurance. Get coverage that will cover losses from:
You don't want to lose all of the inventory you have already paid for, plus the potential profit, because you don't have the right type of insurance coverage.
Potential Error Protection
There are many errors you can make as a small business owner. This can include things from tax reporting, ordering, or shipping errors. It does not hurt to have this in your coverage package. Accounting errors can be very costly in the long term. As your business grows, this protection will be more important and more likely to be needed.
Get quotes from more than one business insurance agent. You need everything covered, from the automobile that you drive around to host events, to the items that you are shipping and selling for a profit. Once you have more than one quote, you can compare the different costs and decide which will be the best option for your budget and your needs, and who can get you covered right away.
For more information about business insurance, talk to a local agent.Share