You are exposing yourself to unnecessary risks if you are running a home business and you don't have insurance coverage. This is especially true if your business is still young (many people start their businesses at home). Here are some of the reason such a business should have insurance coverage:
You Can't Afford Losses at This Early Stage
Most businesses are cash-strapped when starting out. If you are in such a situation, then you are probably operating on limited expenses and you don't have a bank account you can fall back to if things go haywire and you need a lot of cash at once.
Car insurance protects you from financial hardship in the aftermath of a collision by paying for the associated repair or medical costs so that you don't have to pay out of pocket. Automobile insurance policies are funded through monthly payments, or premiums, which are used to pay the costs of other drivers covered by the same insurance company. Young drivers tend to face some of the highest premiums, as they do not yet have a track record of safe and responsible driving.
Are you happy with how much you are paying for home insurance? If so, be aware that there are things that can cause your insurance to go up.
Performing a Major Renovation
Your home insurance premium was based on the status of your home when you first got the policy. If you were to make modifications to your home since then, and your insurance company became aware, then your premium can increase as a result.