What would you do if you got sick and your home based computer business couldn't run while you are out? What if your a one man cleaning crew and you break you leg? Who's going to do your job now? Expenses can be a headache for the home business owner as well, but having the right insurance may save your business one day as well.

It is always recommended to speak with an expert when considering health and other insurance as a home based business owner. A CLU, or chartered life underwriter, or a certified financial planner could be good to talk to when choosing any of these plans for yourself. The types of policies you should look for will be health, life, disability, and "key person" insurance.

As an individual business owner it still may be possible to get group health coverage while only actually covering yourself. Check with your representative when you look into a policy as rules on this vary by state. To qualify as a "group of one" you may have to provide some paperwork about your business, but the qualifications are different for different insurance companies so check with your rep to see exactly what you will need. Even if you can't get the group plan, an individual health plan should be available.

Determining your health plan deductible is also important. Remember, the lower deductible you can afford, the higher your premium will be, so always pick a policy that is within your budget available to pay the deductible amount. Cutting down on coverage will also give you a lower premium. Policies can be made up of a major medical plan whereby you can pay for your own doctor visits and low cost procedures and be covered for more serious injuries or illnesses.

Key person life insurance all depends on how the business will survive after someone dies. This may not apply to people who are self employed and their business will die with them. But if there are partners in the business, or someone to take over, then key person insurance is a much needed asset. Payout will be made upon the passing of the key person to the other owners or inheritor of the business so the business can keep going.

Key person disability insurance is also available. This will help replace income in the event an owner or key employee will not be able to work for a short or long period of time. You can choose a waiting period for when your health insurance policy will kick in, but the longer the term the higher your premium will be.