There are many options for how to get insurance for your business. You can choose from liability coverage, property coverage, or even workers compensation. If you have employees, it is important to have some type of coverage because you are legally required to provide this coverage if an employee has a job related injury. For more information on the different types of policies and what they cover please visit our blog post “How To Get Insurance For Your Business.”
If you need help figuring out which type of policy is right for your company just give us a call at xxx-xxx-xxxx and one of our agents will be happy to answer any questions that you may have!
Check your homeowners insurance to see if it includes business property coverage.
It usually does, but some policies limit the amount of coverage.
If you have business equipment that is critical to your livelihood or a product that is one-of-a-kind and irreplaceable, find out how much additional coverage would cost. It’s probably modest.
In addition to homeowner’s insurance, consider an umbrella policy if your business involves a lot of liability.
An umbrella policy kicks in when you have a claim that exceeds the limits on an underlying coverage such as homeowner’s or car insurance. For example, if you’re sued for $1 million because a client falls and breaks an arm at your office, your umbrella policy would cover the damages above the $300,000 limit of your homeowner’s policy.
If it’s within your budget, consider adding commercial liability insurance to the mix.
The type of business you’re in can make a difference here. For example, if you own a manufacturing company or are licensed to provide certain professional services such as accounting or estate planning, you may need to be covered by a commercial liability policy.
It’s also worth noting that many professional associations require members to carry such coverage as a condition of membership.
Keep in mind, though, that general liability policies won’t cover business interruptions; it can take time to recover from a disaster and get back on your feet. Be sure to investigate whether you need commercial property insurance, which would replace your contents and provide extra living expenses if you have to relocate.
Finally, consider special coverage for your business phone system. You may be able to get a discount with some carriers by bundling it with other business policies. Also check whether there are benefits in adding equipment breakdown coverage or replacement of lost mobile phones.
For more information, talk to your insurance agent or visit the Insurance Information Institute .
Article by Business Credit Guide at http://businesscreditguide.net/home-based-business-insurance/
Please know that I am not an insurance professional of any type (medical, legal, financial, etc). Please consult with the proper professionals before making any decisions. And always remember to use discretion and due diligence when obtaining information about the internet.
Posted by Tatum Jackson at 9:00 AM
I’m a stay-at-home dad with two kids, which makes me extremely interested in insurance for families! Reply Delete
Hi there, thanks for this great article as i have been looking for an answer to my question. I have been doing some research, but i’m looking for a more or less straight forward answer if possible. Basically, i’m trying to figure out if it’s worth it having insurance at all, and what kind of cover we need (myself, wife and 2 kids). At the moment we only have the mandatory living insurance (household/ liability insurances) and we do not carry any extra.
We will be starting a small business of our own in the near future, which means we need to buy all kinds of insurances for that. So basically i am wondering: Is it worth having an insurance if you only have your house and liability insurance? Are there any other insurances that we need to have as a family? Thanks for your time and best regards, Metin Reply Delete
Contact an agent or broker for a commercial insurance quote, and you’ll hear this over and over again: It depends.
As anyone who’s ever bought commercial insurance knows, the type of coverage, limits or premiums can vary widely depending on the company you choose. But why does… Read more…
This article was originally published at . Reprinted with permission from the author.
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Be sure to get quotes from at least three different companies and compare their policies.
Be sure to read the policy carefully before you sign. If there is anything that you do not understand, ask your agent to explain it to you.
Do not allow yourself to be pressured into a decision on a particular plan. Ask for additional information and time to think about it. Get all the facts from several insurance companies before committing yourself to any one plan.
Be sure your policy is a guaranteed renewable plan, which means that the insurance company cannot drop your coverage, even if you make a claim.
If you have a problem with or question about how much you are paying or what benefits you are receiving from your insurance company, write immediately to the Commissioner of Insurance in Albany , New York .
If you are sure that your insurance company has violated the Insurance Law, file a written complaint with the New York State Department of Insurance . You can get forms to use by writing to the Superintendent of Insurance , 50 State Street , Albany , N.Y. 12207 or calling (212) 480-6400. If possible, you should also send a copy of your complaint to the company involved.
Be sure that you save all bills and claims forms related to your insurance coverage.
(New York State Department of Insurance, “Be Sure You Get The Facts Before You Buy Life Insurance,” The Facts About Life Insurance , p. 8.)
The approved text is published with the permission of the New York State Department of Insurance. The State of New York does not warrant or endorse this information, service or product, or recommend any person or company as its agent.
The article is derived from an official publication of the New York State Department of Insurance published by New York State , which bears no responsibility for its content.
If your home is also your place of business, you know how important it is to keep your tools, computers, and other valuables safe.
While the Internet features many tutorials on how to install an alarm system for a home or small business, there are few that include advice specific for giving your office that added security boost.
Alarm Systems for Offices
Most of these systems are completely automated, which means they are easy to set up and use. However, don’t make the mistake of thinking that you can install one without doing your homework. To successfully protect your office, there are some key details you need to know before buying an alarm system for business.
Types of Alarm Systems
While there are many different types of alarm systems , the two most common types are wired and wireless. Wired alarm systems feature a network of cables that connect all of the sensors in your office. The advantage of these is you don’t have to worry about changing batteries and recharging batteries every couple months. On the other hand, they’re not ideal for larger businesses since they can be cumbersome to install and need constant maintenance.
Wireless alarm systems are becoming more advanced, making them a better option for small business owners. These systems feature sensors that you can place anywhere inside or outside your office, but don’t require that the system be connected via cables. Instead, they utilize radio signals to communicate with a control panel that’s typically located near the front door. Each time a sensor is tripped, it signals the control panel to sound an alarm.
Wireless systems are best for smaller offices. They are inexpensive, easy to install, and require little upkeep compared to wired alarms. The only con with wireless alarm systems is that they can be susceptible to false alarms if their range isn’t properly calibrated.
Deciding on the Best Location for Your Control Panel
It doesn’t matter how many sensors you place throughout your office or how advanced they are if your control panel isn’t close by to monitor them. If it’s too far away, you won’t get an accurate reading of what triggered the alarm and will be left wondering if you need to call the police.
To make sure your control panel is in the perfect location, consider where you spend most of your time when working. If it’s closer to the front of your office or behind a locked door, you may want to place it near your filing cabinets or desk so that you don’t have to walk all the way to the front door to check on alarms.
