Small business Insurance
Small business Insurance
While business property and liability insurance is necessary, you're not legally obligated to have them, however employers must provide state-mandated coverage's for injuries and illnesses that are job-related through workers compensation insurance.
Property insurance can be purchased on the basis of the property's actual value (the replacement cost minus depreciation), its replacement value (the cost of replacing an item without deducting for depreciation), or on an agreed-upon amount (commonly used for art objects and other unique items).
Optional coverage can insure against earthquakes, floods, building collapse, and glass breakage. Property insurance can be categorized by what is insured and by the events leading to a loss.
Liability insurance will protect your business assets in the event you are sued. You should maintain a proper amount of liability insurance to protect the business you've worked so hard to build. Liability insurance will not only pay the cost of the damages but also the legal fees and other costs associated with your defence in a lawsuit, regardless of whether or not the lawsuit has merit.
Liability insurance will not protect you against claims arising from non-performance of a contract, wrongful termination of employees, sexual harassment, or race and gender lawsuits. Usually a surety bond is taken out as performance insurance. Employment practices liability insurance protects your business against employment-related claims, such as sexual harassment.
Some occupational licenses might require a set amount of liability insurance. If you rent your business property, check your lease, as it could require a set amount of liability. Then buy what you can reasonably afford, because the cost of the insurance will be far less than the cost of a lawsuit.
Many insurance companies have bundled property and liability coverage into what's commonly called a business owners policy. It allows you to obtain broad coverage with affordable premiums.
The loss of a key person can be a major blow to a small business if that person is the key contact for customers and suppliers and the management of the business. Loss of the key person may also make the running of the business less efficient and result in a loss of capital. Key employee life insurance pays a death benefit to the company when the key employee dies. The policy is normally owned by the company, which pays the premiums and is the beneficiary.
One of our network members of Insurance professionals can provide invaluable advice to help protect your business from unexpected disasters. Ask what you can do to both reduce risks like fire or work-related accidents, as well as the procedures that should be in place in case your business does suffer a major catastrophe. Having the right coverage and a well thought out disaster plan can save you money in the long run. It may even save your business from going under.
Few things in life are riskier than launching and running your own business. You needn't compound that risk by neglecting your business insurance needs.
Clients can go to www.fundsandloans.com select “Business Insurance” and then a State; from that point they will be able to contact a pre-screened Independent Business Insurance agent that is a member of the exclusive network.
Small business Insurance - To learn more about this author, visit Joe Cooper's Website.
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When applying for a small business loan private lenders could require that a Key-person Insurance policy is in place making the lender the beneficiary until the loan is repaid. This insurance requirement acts as an extra security blanket for the working capital provided.
While business property and liability insurance is necessary, you're not legally obligated to have them, however employers must provide state-mandated coverage's for injuries and illnesses that are job-related through workers compensation insurance.
Property insurance can be purchased on the basis of the property's actual value (the replacement cost minus depreciation), its replacement value (the cost of replacing an item without deducting for depreciation), or on an agreed-upon amount (commonly used for art objects and other unique items).
Optional coverage can insure against earthquakes, floods, building collapse, and glass breakage. Property insurance can be categorized by what is insured and by the events leading to a loss.
Liability insurance will protect your business assets in the event you are sued. You should maintain a proper amount of liability insurance to protect the business you've worked so hard to build. Liability insurance will not only pay the cost of the damages but also the legal fees and other costs associated with your defence in a lawsuit, regardless of whether or not the lawsuit has merit.
Liability insurance will not protect you against claims arising from non-performance of a contract, wrongful termination of employees, sexual harassment, or race and gender lawsuits. Usually a surety bond is taken out as performance insurance. Employment practices liability insurance protects your business against employment-related claims, such as sexual harassment.
Some occupational licenses might require a set amount of liability insurance. If you rent your business property, check your lease, as it could require a set amount of liability. Then buy what you can reasonably afford, because the cost of the insurance will be far less than the cost of a lawsuit.
Many insurance companies have bundled property and liability coverage into what's commonly called a business owners policy. It allows you to obtain broad coverage with affordable premiums.
The loss of a key person can be a major blow to a small business if that person is the key contact for customers and suppliers and the management of the business. Loss of the key person may also make the running of the business less efficient and result in a loss of capital. Key employee life insurance pays a death benefit to the company when the key employee dies. The policy is normally owned by the company, which pays the premiums and is the beneficiary.
One of our network members of Insurance professionals can provide invaluable advice to help protect your business from unexpected disasters. Ask what you can do to both reduce risks like fire or work-related accidents, as well as the procedures that should be in place in case your business does suffer a major catastrophe. Having the right coverage and a well thought out disaster plan can save you money in the long run. It may even save your business from going under.
Few things in life are riskier than launching and running your own business. You needn't compound that risk by neglecting your business insurance needs.
Clients can go to www.fundsandloans.com select “Business Insurance” and then a State; from that point they will be able to contact a pre-screened Independent Business Insurance agent that is a member of the exclusive network.
Small business Insurance - To learn more about this author, visit Joe Cooper's Website.
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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John AlexanderJohn has taught keyword research and SEO skills to small groups of business owners and Webmasters from over 80 different countries world wide since 2002. John is also the Director of Search Engine Academy ; Co-director of Training at Search Engine Workshops offering live, SEO Workshops with his partner SEO educator Robin Nobles, author of the very first comprehensive online search engine marketing courses at SEO Training Online and the SEO Workshop Resource Center. I look forward to hearing from you! - Visit John Alexander's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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