For Work from Home Moms, What Kind of Insurance is Necessary?

Today, mothers face more stress than ever before. For many, trying to balance raising a family, full time work, and running a household can be a difficult balancing act. One solution for many moms is to work from home. Operating a home business is the ideal solution for many who need the extra flexibility to balance everything happening in their lives.

Though working from home offers several advantages, there are some insurance coverage’s that people often take for granted when working, but fail to consider when they start their home business.

Here are 3 basic types of insurance work from home moms (or anyone running a home based business) should look into:

Medical Insurance: Before long, health insurance will be a requirement for every American. If you no longer have employer-provided health insurance, you will need to purchase coverage independently. By 2014, all states are supposed to have exchanges set up for you to be able to shop for the lowest cost coverage.

Life Insurance: When you are self-employed, it is up to you to provide life insurance, unless your spouse receives it through an employer. This is perhaps the most important and most often overlooked kind of insurance. None of us likes to consider our own mortality, but we should take time to think about it in the context of what would happen to our children if we were no longer there to provide for them. Though nothing can replace the personal impact we have on the lives of our kids, at least we can provide for them financially so it will be one less worry for them going forward.

Disability Insurance: Have you ever wondered what would happen if mom could no longer work? For many households, the loss of one spouse’s income could be the difference between whether or not they make ends meet. Though not required, disability insurance is something that moms need to take a serious look at.

These are the big 3 insurance types that every work from home mom (or dad) should carry. There are several others such as premises liability and business property insurance that may apply to certain types of home businesses. As always, it is best to consult with your local agent to determine which insurance coverage is right for you.