There are a lot of insurance options available based on your risks and industry. Here are a few questions to ask yourself when deciding what type of insurance your small business needs:
When considering what insurance your business needs, you will need to explore questions such as these. What makes your business unique? What special risks do you have?
An agent will be able to help you break down area of risks in your business and help you to build a customized insurance plan that is just right for your business.
To speak with an agent call 909-593-8923
The need for cyber insurance is growing as more problems arise with the use of technology in business. Businesses are being hacked, data breaches are occurring what seems like daily, and more businesses are using social media and blogging platforms which present additional risks.
Each risks presents its own possible problems. An employee could accidently post an obscene racist joke from a company account. If hacked, a data breach could occur costing hundred per account record. If you rely on online sales a hacker could shut down your website causing you to lose your revenue. Anyone in your business could unknowingly send a virus to a client or another business making you liable for the damages.
Many things can happen within the cyber world and the most important thing for you to know is that no other policy will cover these risks.
Many people believe flood insurance to be a waste of money. Your property is covered under the property coverage portion of your policy right? If your building floods or if water gets in and damages some equipment the property coverage kicks in right? Wrong.
One of the major exclusions in property coverage is flooding. The only way you have coverage against flooding is if you have flood insurance.
Do not be fooled just because your business is not listed as a flood zone. With enough rain, or a drastic amount of snow quickly melting can cause your business to flood. Can you repair your building, clean up the water damage, and replace any damaged property with your own resources?
When businesses take on employees they are required to have workers compensation. In Cali, it does not matter if you have 1 employee or 1 million, you need coverage.
Workers comp covers the liability risks if an individual is injured while on the job. Instead of an employee suing you for the injuries, instead they can rest assured knowing they will have the medical payments they need taken care of.
Keep in mind though that each state has their own laws regarding workers comp.
If you own a building you need to protect it and everything within in. You know how much you had to invest to purchase a building and to fill it with furniture, equipment and inventory.
A fire could destroy your business in minutes. High winds could rip apart your roof, take down your signs and bust up the outside of your building. Even if you do not own the building to insure, if a pipe bursts destroying your business's belongings you will want insurance to recover what was lost.
With this coverage you will feel secure knowing your physical property is taken care of.
Every business needs liability insurance. This covers your business from damages or injuries caused to others.
Businesses can be sued when someone is injured or their property is damaged based on your being in business. You likely have heard of many people suing businesses because they were physically harmed by their product, or because they lied and it led to a customer's financial loss.
As a professional you are held to a higher standard than most people. Because of that and our litigious society business can be sued for a number of things by their customers as well as other businesses.
Different scenarios call for different types of liability insurance but the bottom line is that you need liability protection. It will protect you from lawsuits and help you cover legal fees associated with these types of problems.
Before we get into all the different coverage options it is important for you to understand that your business will need a customized plan. There are some business owners who try to buy based on their knowledge. They only want liability insurance or they are only purchasing insurance because it is required by a client.
Just like you have expertise in your industry agents have the expertise to see potential risks that could devastate your business. It is good to know what is available and to take the initiative in understanding your insurance but we believe it is important to have an agent put together a customized plan for your business.
You have all the say in what policies you want and do not want, but an agent will help you understand what insurance a small business in your industry needs and why.
Call an agent today: 909-593-8923
Small businesses need a variety of insurance policies based on their specific risks. The type of insurance your small business needs depends on the business itself.
While every business will have different needs, there are some common needs that just about every business will need. In the next couple days we will discuss these common policies and help you understand what policies your business needs.
Contact an Agent Today: 909-593-8923
Many people aren’t planning for their future long-term care needs because they think the government will pick up the tab. In reality, that’s just not true unless you are eligible for Medicaid (generally those with less than $2,000 in assets). Given that about 70% of people over age 65 will need some type of long-term care in their lifetime, according to the U.S government, this is a serious mistake to be making. Here’s why.
Medicare limits coverage for long-term care services. Generally it will cover home care if it is part of recuperation—that is, you’re expected to get better soon. If you receive care in a facility, they may cover only the first 20 days. From day 21 to 100 you are responsible for a large daily copayment, currently a little over $150 a day. Medicare does not provide any benefits after 100 days. Then what?
That’s why it’s so important to consider long-term care insurance. It pays for a wide range of services and support that typically aren’t covered by medical insurance or Medicare. The types of care it covers fall into a range of services from having in-home help all the way to nursing home care. In addition to protecting retirement assets and providing options for care, most long-term care insurance policies come with care coordination benefits. This means that at the time of claim, a specialist will assist you in finding the appropriate care services and establish a plan based on your preferences and needs.
Because this type of insurance can be complicated, it makes sense to sit down with an LTCI specialist, who can walk you through your options and find a solution that fits your budget.
Every year, 6,000 fatal crashes may be caused by drowsy driving.
You need this essential layer of protection.
Real-World Case Study: Drowsy Driver Put Lives in Peril
Tired of the unrelenting snowfall, best couple friends, Lori and Scott and Kim and Jay, decided it was the perfect time for a road trip to Las Vegas.
After a busy weekend with good memories made, the four headed home with Scott at the wheel.
A short while later, Scott dozed off, awoke suddenly and overcorrected, hitting two oncoming cars.
All of those involved sustained serious trauma, including head injuries, lung collapse and multiple major fractures. Two of the injured were airlifted to the hospital for immediate treatment. In addition to hospital stays, recovery would include physical and cognitive therapy and Jay needed extensive reconstructive surgery.
After Scott's auto liability limits were exhausted, his standalone personal umbrella policy responded to cover their care.
Around $253 a year for $1MM of coverage
Contact Us Today: 909-593-8923