If your company is just one or two people working from home, you may not need workers' compensation insurance, but you probably need more property and liability insurance than what's provided in your basic homeowners policy. After purchasing the required coverage, you can purchase insurance that covers any other business risk. Of course, most types of insurance are optional and some are only appropriate for certain types of businesses. In addition, litigation means you'll need an attorney and, if your reputation or that of your company is at risk, a public relations guide.
To be safe, business insurance will help protect all your assets, including the unexpected costs associated with natural disasters. While an LLC will protect your personal assets and ensure that they are treated separately from your company, your business may still need its own insurance policy. The government requires all businesses with employees to obtain workers' compensation, unemployment and disability insurance.
