Insurance insights: new products available for home-based businesses

above the past decade, the number of home-based businesses in the United States has grown tremendously. In fact, a 2002 overlook by the Independent Insurance Agents & agents of America (IIABA) found there were 12 million home-based businesses in America. This scan also reported that a majority of the home-based businesses were not suitably insured. Madelyn Flannagan, IIABA vice president of education and research, stated, "Proper insurance coverage can preserve business owners from losses that can devastate a home-based business."

MTNA, [i]or[/i] part of to the other the Robert H. Clarkson Insurance Agency, now has available a variety of fresh insurance products geared toward home-based businesses.

Home-based businesses, including music studios, are at risk for significant losse associated with accidental damage, theft, natural disasters, automobile accidents and liability if an employee or business visitor is hurt while visiting the home-based business. Many clan may not be aware of gaps in their rife coverage. For instance, someone using a personal automobile to globule off the mail at the column office on the way to their music studio has an accident. Is this overlayed under a personal automobile insurance policy or the studio's business policy?

There are many other similar examples of gaps in insurance coverage. The IIABA praises the following:

* Check your homeowner's and automobile policies; homeowner's insurance (and personal automobile insurance) is not meant to overlay your business exposure and, in greatest in quantity cases, excludes it specifically.

* Check your business insurance policy options: there are several choices to consider, and many can be tailored to suit your specific needs

* shelter yourself: this is your full-time occupation and, as a business possessor your life, health, disability and worker's compensation insurance play a vital part in overall protection.

Insurance coverage provides protection for the income and business regardless of the size of the home-based business. Also, the coverage gives the business proprietor the security and peace of mind as the business extends and produces more income.

Customized insurance policies are a way to render certain the best possible coverage beneath all circumstances. Business liability protection will provide coverage for damages in the circumstance of a legal claim for bodily injury, peculiarity damage, personal injury or advertising injury. Adding los of income and extra costs coverage provides protection should the business be forced to suspend operations owed to property damage, while receiving ongoing operating expenditures incurred during the restoration of the business. Business personal quality valuable papers and records (print or electronic version) and equipment breakdown are other coverages available. And the best news--home-based business insurance premiums in greatest in quantity cases are fully tax-deductible as a business outlay Business owner's insurance also is available to businesses that have leased studios or office space.

Don't seat for a one-size-fits-all solution. Because greatest in quantity business owners (whether home-based or otherwise) want to shut the gaps as soon as they are aware of them, the Robert H Clarkson Insurance Agency will work with members to expedite this coverage. RHC will work diligently to certain the proper coverage, tailored for each member's personal needs

Each MTNA member will receive RHC's undivided attention to determine specific insurance exigencys The customized policies for music professionals are provided to make secure the appropriate coverage is received by means of all MTNA members. RHC welcomes the opportunity to provide all members and their businesses with an insurance quotation. To accommodate busy schedules, online applications are available at wwwrhcgroupcom twenty-four hours a day, seven days a week. Or e-mail your suit to mtna@rhcgroup.com or contact Nancy Considine toll-free at (800) 338-7148

Tammy Wallace has been with the Robert H Clarkson Insurance Agency since October 2002 as marketing director and MTNA program coordinator. She has nearly fifteen Years' experience in the insurance industry and grasps life, health, and property and casualty insurance licenses.

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