Gulf Coast Insurance, LLC Blog

 Many people who make jewelry as a hobby sometimes turn their skills into a small business!

Many successful home based businesses begin as hobbies and where a hobby ends and a business begins can sometimes be a bit of a gray area. Generally, if your hobby begins to earn you an income you should consider it a business, even if you only ever intended it to be a very small one. It’s especially important to be aware of the difference when it comes to your insurance in Naples. Homeowners’ insurance doesn’t automatically cover home based business losses, so it may be necessary to invest in a business insurance policy.

Depending on what your business involves and what the risks are, obtaining coverage may be as straightforward as adding additional terms and coverage to your existing homeowners’ insurance policy to cover basic business risks such as property damage. However, there may be other business risks to consider too – if you have clients attending your premises, or if your hobby involves making a product or providing a service to others, you may need other types of insurance that your home policy cannot provide.

Are you still unsure whether your hobby qualifies as a business or what steps you should take to ensure you have the appropriate insurance in Naples? Insurance professionals at our office will be happy to discuss your current policies and what needs to be done to ensure your home based business is adequately protected.

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