thehartford.com

Start Small. Think Big.
If you're starting a business, we can help you protect what's important to you. 

Like many budding entrepreneurs who are starting a business, chances are that you're an expert in your chosen field. But starting a business means learning about different fields that may be unfamiliar to you, like marketing or finance. Fortunately, there are professionals who can help you, including your attorney and accountant.

Insurance Needs

It's a good idea to work with an insurance agent when you're starting a business. It may be helpful to have one agent who can handle all of your insurance needs, which may include:

• Business property insurance
• Liability insurance
• Workers compensation insurance (if your business has employees)
• Disability coverage
• Auto coverage for company vehicles

Talk with an insurance agent about your business so that he or she can help you determine what type of coverage makes the most sense for you. Find an agent near you now.

Your financial professional can advise on life insurance for wealth transfer and business continuation.

Insurance for Home-Based Businesses

Self-employment is a midlife career option that's growing in popularity. Many Baby Boomers and seniors are starting a business that involves working from home.

There was a time when a home-based business owner's only insurance option was to purchase a small business insurance policy. These policies were often expensive and provided more coverage than many home business owners needed.

Today, there's a better option. The AARP Home Business Insurance Plan offers an affordable insurance plan for customers age 50 and over who run a business out of their home.

One of the key advantages of the plan is that it allows you to customize your coverages for your specific business, so you're not paying for protection you may not need. For example:

• Do clients come to your home?
• Do you keep an inventory of materials or products?
• Does your business rely on certain office equipment?
• Do you use some of that equipment (such as a laptop) outside of your home office?
• Do you have employees?

All of these factors will help determine what type of and home business insurance coverages you need, and how much.

Savings and Retirement Plans

Once you've set up shop, how are you going to put your hard-earned money to work for your future? A financial professional can help you with a savings and retirement plan tailored to you and your business. Be sure to ask about the different retirement plans for business owners. They may offer tax advantages and can be a benefit to offer your employees today or when your business expands. 

This information is written in connection with the promotion or marketing of the matter(s) addressed in this material.   The information cannot be used or relied upon for the purpose of avoiding IRS penalties.  These materials are not intended to provide tax, accounting or legal advice. As with all matters of a tax or legal nature, you should consult your own tax or legal counsel for advice.