Business Insurance

The Importance of Business Interruption Insurance

admin — Thu, 15 Oct 2009 13:14:00 -0700

One of the most vital types of business insurance that you can carry is business interruption insurance, commonly referred to as BII. Business interruption insurance is meant to cover loss of income if damage to your property makes it impossible to carry out your normal business operations. It is not commonly sold separately, but may be a clause that you can add to your business property insurance.

Why Consider Business Interruption Insurance?

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How to Switch Business Insurance Plans Without a Hassle

admin — Thu, 15 Oct 2009 06:55:00 -0700

If you're considering changing your business insurance coverage, make sure you don't leave yourself unprotected against liability and loss.

When It's Time to Change Your Business Insurance Carrier

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Pros and Cons of Excess or Umbrella Policies for Small Businesses

admin — Wed, 11 Mar 2009 05:18:58 -0700

Trying to safeguard your business from unforeseen risks can be a daunting task. Yet, in many instances wading through the various types of insurance can be just as nerve-wrecking. These are the central issues behind excess or umbrella insurance policies. Excess or umbrella policies are in essence the broadest form of insurance protection available. However, there are things that a business owner should consider before purchasing excess coverage.

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Insurance Coverage for Churches

admin — Tue, 10 Mar 2009 05:51:34 -0700

Many of today’s medium sized and large churches operate a lot like a business, with employees, financial statements, and risks. So, like a business, churches today need to purchase insurance. However, a church has risks and needs that differ greatly from the average business.

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Professional Business Liability Insurance

admin — Sun, 08 Mar 2009 07:31:32 -0700

Do you need business liability insurance?

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Why You Need Business Insurance

admin — Fri, 27 Feb 2009 07:20:51 -0800

The term ‘business insurance’ encompasses a variety of products that are needed by various businesses. There isn’t generalized business insurance, there isn’t generalized any kind of insurance, the type of insurance you need is based on your personal situation, just like with your car or home. You need to provide the insurance agent with information about your business so that they can help you decide what forms of business insurance you need. With that said, every business requires insurance to cover against losses, although those losses can fall into a variety of categories.

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Business Insurance Coverage Terminology

admin — Thu, 05 Feb 2009 14:08:25 -0800

Unfortunately for most people, insurance is a mere after thought until disaster strikes. Sadly, this is the time when a significant number of business-owners learn about their insurance and the things that are actually covered under their policy. Here are some common insurance terms that may help you understand the proof of insurance and policy documents for your business a little better.

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Ways to Reduce Your Business Insurance Costs

admin — Mon, 01 Dec 2008 05:08:11 -0800

Depending on the number of policies and coverage limits that your small business has, you may find that insurance premiums are taking a pretty healthy bite out of your operating budget. Insurance premiums vary and often depend on a wide variety of factors. However, your business’ insurance itself is based on the type of risks that you face. So, in order to reduce your insurance costs, your organization must take the necessary steps to reduce risks.

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Taking Business Insurance Into a Marriage

admin — Sun, 27 Jul 2008 04:33:23 -0700

If you own a business, you probably already have business insurance. This is insurance that will allow you to have the utmost control over what you are doing and what will happen with it. You want to be sure that you have this control because you need to be able to pay for things when it comes to your business. Therefore, your business insurance remains a valuable asset to you.

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Reasons to purchase business insurance

admin — Fri, 18 Jul 2008 06:58:39 -0700

Business insurance can be a major purchase for a business owner to make, but when it comes down to it there are a number of good reasons why they should buy it anyway. Too often business owners look at the cost without realizing the benefits, and then are left with serious problems that the insurance would have easily covered. If you’re a business owner and are trying to decide whether or not you should buy business insurance, consider the following reasons why it would be a good idea.

Reducing liability

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Learning more about Business Insurance before you buy

admin — Tue, 08 Jul 2008 14:49:59 -0700

Business insurance is vitally important to keeping your business protected from loss and liability, but not all business insurance policies offer the same coverage. You may find that different types of insurance will work better for different businesses, and that having other types might not be of much benefit to your business plan at all.

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Insurance Coverage for the Small Business

admin — Sun, 29 Jun 2008 07:02:28 -0700

When you own a small business, it's vital to make sure that you are carrying sufficient insurance coverage. Many small business owners make the mistake of thinking that their company is too small to have to worry about insurance. However, it's a fact that no company is too small to need sufficient insurance coverage. There are several different types of small business insurance that every company should have.

Workers Compensation Insurance

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The Basics of Business Insurance

admin — Thu, 12 Jun 2008 05:26:23 -0700

If you own a business, it is vital that you have a working knowledge of the basics of business insurance. Beyond understanding what business insurance is and why it matters, it's also important that you take the necessary steps to protect your business with a sufficient amount of insurance protection.

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Business Insurance Coverage for Non-profits

admin — Tue, 03 Jun 2008 05:46:30 -0700

Nonprofits have special needs and concerns when it comes to their insurance coverage. In many cases nonprofit organizations operate on a shoe string budget. So, these organizations are usually attracted to smaller insurance agents and “cheaper” policies. However, there is a hitch in choosing the cheaper policies. Since nonprofits obtain a large amount of funding from grants, they may find that government and funding agencies have specific insurance requirements.

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Business Insurance: Self Insuring versus Buying Traditional Insurance

admin — Wed, 21 May 2008 05:06:00 -0700

As more large organizations, such as municipalities and fortune 500 organizations, decide to self insure instead of purchasing traditional insurance, many small to mid sized companies wonder if they too would be better off by self insuring for their losses. To Self Insure basically means that instead of purchasing insurance an organization will cover any losses out-of-pocket. Though, most organizations see this as an opportunity to save money by decreasing their insurance premium and taking a more proactive stance on claims. The decision to self-insure should not be taken lightly.

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Mandatory Insurance for your Business

admin — Mon, 12 May 2008 07:31:03 -0700

If you’re already a business owner you probably know that there are several types of business insurance. Some are considered essential, and some are simply nice to have, but not absolutely necessary. There are also some forms of business insurance that are required by law. If you’re considering starting up your own business, this is essential information to help you decide which types of insurance you need.

Required by Law

Mandatory business insurance includes workers’ compensation, disability coverage (depending on where you live), and business vehicle cover.

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Weighing your business insurance options

admin — Thu, 08 May 2008 13:12:05 -0700

With the rising costs of keeping a business going, the last thing that any business owner would want is to have to pay for damages out of their own pocket because they don’t have the proper insurance to cover their needs. There are a number of different choices when it comes to business insurance, though, and not all business insurance policies will be right for the needs of every business.

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Business Insurance: Professional Liability Insurance

admin — Mon, 05 May 2008 05:42:23 -0700

Depending on the type of work you do, it might be necessary for you to carry professional liability insurance. This type of insurance covers individuals working in specific professions against liability associated with duties performed within the scope of their profession. For example, medical malpractice insurance is a type of professional liability coverage for physicians and other clinical medical professionals.

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Insurance for the Home Business

admin — Thu, 01 May 2008 06:09:39 -0700

Starting a new business is an exciting and hectic time. There are so many things to do to be sure you’re in the best position to reach your market, engage them and serve them. It’s far too easy to overlook one of the most important needs for your home-based business – insurance. As a small business based at home, you have insurance needs that go beyond the scope of your homeowner or renters insurance. Protecting yourself, your investment, your equipment and your business should take top priority on your list of things to do. Not sure that you need home business insurance?

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Business Insurance Coverage for Churches

admin — Thu, 01 May 2008 05:52:31 -0700

Many of today’s medium sized and large churches operate a lot like a business, with employees, financial statements, and risks. So, like a business, churches today need to purchase insurance. However, a church has risks and needs that differ greatly from the average business.

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Business Practices Liability Insurance

admin — Sun, 27 Apr 2008 05:16:01 -0700

It's important for companies of every size to have sufficient business practices liability insurance in place. This type of insurance provides important protection for companies that might find themselves facing claims that the organization treated one or more employees in a manner contrary to that allowed by law. The most common areas of concern addressed by business practices coverage are workplace harassment and discrimination.

Protection Against Harassment and Discrimination Claims

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Business Insurance: What can be Covered?

admin — Wed, 23 Apr 2008 06:28:03 -0700

When opening a new business, insurance can be a great asset. If you’re the sole owner or have a partner (or partners), both you and your employees count on the stability of the income that the business generates. Whether you own a beauty shop or a garage or even a manufacturing plant, you need the security that business insurance provides. What if a natural disaster turns your business location into pile of rubble?

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Business Insurance: Commercial versus Packaged Policies

admin — Sun, 20 Apr 2008 19:07:12 -0700

For many small businesses, insurance is a necessary evil. Although there are hundreds of other things that business owners would rather spend the money on, they understand and appreciate the need for having insurance. None-the-less, there is always the temptation to cut insurance corners in order to save money. The reduced cost is typically why small business owners gravitate toward packaged policies. Yet, there are advantages and disadvantages with these refined policies.

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Business Insurance for your startup

admin — Sat, 19 Apr 2008 07:45:09 -0700

Many people like to wait until their business is established before buying business insurance, thinking that they’ll save money during their critical early days and that they can always get the insurance that they desire later. While this can be a good way to keep some expenses low while your business is still trying to get off of the ground, if you don’t have the proper insurance and something unexpected happens then you might end up going under because you simply can’t afford to cover the unexpected costs.

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Key Employee Insurance – Do You Need It?

admin — Sun, 23 Mar 2008 18:33:38 -0700

Risk planning is one of the newest buzzwords in business. It’s all about figuring out the risks that exist for your business, and taking steps to insure against those risks. If there’s a risk of fire, you buy property insurance. If your business may be sued, you buy insurance to cover the cost of legal defense and any awards that might be made. There are insurance policies that cover losses from flood, theft, property damage, bad weather – even a poor holiday season.

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What Is Directors And Officers (D&O) Coverage?

admin — Sat, 22 Mar 2008 05:09:08 -0700

Directors and Officers coverage (D&O) is insurance for the directors and officers of businesses, corporations and other entities against a legal judgment and the related expenses that result from an allegation of a wrongful act committed in their individual capacity with the company as a director or officer.

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Transferring Business Insurance Between Businesses

admin — Sat, 15 Mar 2008 09:11:44 -0700

It is important to remember that when you are looking at business insurance, you want to be sure that you have the type of insurance that you need, but also that you can have control over the business insurance.

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Practical Business Insurance for Small Businesses

admin — Sat, 15 Mar 2008 08:37:14 -0700

When you have a small business, you know that you want to do as well as you can to provide your small business with good small business insurance. The key to having good small business insurance is that you will be able to easily pay for it, and it will still be large enough to cover what you need.

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What Does My Business Insurance Cover?

admin — Fri, 14 Mar 2008 22:33:00 -0700

If you are a business owner, it's very important that you understand exactly what is, and is not, covered in your business insurance policy. Shopping for business insurance is not an easy thing to do, yet purchasing insurance coverage is one of the most important decisions every business owner has to make. Having a solid and comprehensive business insurance policy is absolutely essential if you want to make sure that an unforeseen circumstance doesn't have a negative impact on your company's ability to continue operating for the long term.

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What Is Business Insurance?

admin — Fri, 14 Mar 2008 18:14:54 -0700

The concept of business insurance is quite broad in definition as there are varying types and levels of business insurance. However, the concept is the same for all types of insurance. Your premiums, the rate you pay, goes into a pool with your insurance company. Losses that clients of that insurance company make claims for are paid from the pool of funds. Essentially, the premiums of many pay for the losses of the few.

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