The rate I got was $9.23 for that initial signup, and the coverage costs $30 for the year in total, so roughly $2.50 per month. But how much would it cost? Getting coverage turned out to be very affordable That was when I learned that while the company will cover personal belongings, it won't cover business items without additional home business pursuits coverage. Because we own our house, I reached out to Farmers, with whom we have homeowners insurance, to ensure the inventory in my home-based business would be covered as well. While there would obviously be more pressing considerations in the event of a serious catastrophe, like ensuring my partner and my cats were okay, the idea of losing an income stream during what would be an incredibly stressful - and expensive - time weighed on me. I wasn't sure if my homeowners insurance would cover my businessĪnd because I'm nothing if not an anxious millennial, my mind immediately went to the worst-case scenario: What if my house caught on fire? Or what if a tornado blew it all away? The climate apocalypse feels impending, so what if a hurricane hit the Midwest? (Climate anxiety is real, y'all.) You choose the policy that's right for you. Provide a little bit of information about your business and let Simply Business do legwork. Find the Best Business Insurance for You Meet Simply Business. When the guest room-turned-warehouse got too chaotic, I spent a few days organizing and realized that between vintage clothing and accessories, artworks, and rare books, I'd accumulated about $10,000 worth of items when sold at retail value. Which is to say, my vintage shop goods were taking over my little cottage of a home. I knew I didn't want to open a brick-and-mortar or get a storage unit, so I'd have to keep finding space for the inventory in my small Cape Cod-style house. Instead of a couple of items in the corner of my guest room, my vintage wares took up nearly the entire guest room. I realized I had a ton of inventoryĪfter a year or so of running my shop, I had to grow my inventory to keep up with demand. Plus, insurance cost money - which was not what I was going for. I didn't know where my little business was going, but fun and profitable were my primary goals.Īnd insurance isn't my idea of fun. That would mean I'd have to keep my then-day job, which I didn't enjoy, to justify having Posh&Page. I was looking for a project that would be profitable so it wouldn't be a drain on my finances. I was having too much fun sourcing pieces and filling up the guest room of my house with the latest finds, which I'd photograph, measure, price, and upload to Etsy. When I decided to start Posh&Page, my vintage shop side business, small business insurance was the last thing on my mind.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |