Are you targeting small, home-based businesses?
Home-based businesses are a growing business sector. Sometimes, a home-based business is the early entrepreneurial manifestation of a fast, high-growth enterprise -- think Apple Computer or Mary Kay; other times, it's a sole proprietor business or micro employer that starts small and stays small. You probably know many self-employed folks.
According to the National Association of Insurance Commissioners (NAIC), more than half of the 28 million small businesses in the U.S. are home-based -- but many are unaware of or haven't given sufficient consideration to their business insurance needs.
“Many home-based entrepreneurs incorrectly assume their business assets are covered by personal insurance policies,” said NAIC President Monica Lindeen and Montana Commissioner of Securities and Insurance. “Unfortunately, business owners often don't discover this mistake until after a major incident puts their business and personal finances at risk. When it comes to insurance, what you don't know definitely can hurt you.”
How many of your current personal insureds might be in that number? If you and your CSRs aren't keyed in to and alert for the phrase "self employed," you may be missing an opportunity. Why not include this topic in your communication outreach to your clients via mailers or social media posts? NAIC has just introduced several resources that can help. They've added an Insure U for Small Business channel which includes several useful resources:
Insurance Needs Change When Home is Your Workplace
5 Tough Questions to Ask Before Starting a Business
10 Insurance-Smart Things to Consider Before Starting a Business