by admin on March 14, 2011
Small Business Insurance Is a MUST. And here’s why…
Any small business, regardless of number of employees, should have at least basic business insurance. Basic business insurance will cover the business from most liabilities. This may not be considered important, but one lawsuit that wins against a small business could potentially force the business into bankruptcy. Also, potentially if a business does not have insurance, then the owner of the business, may be personal liable for monetary damage or lawsuits. Consider, for example if a small business sells a product that is defective, and causes physical harm then certainly there is legal grounds for a lawsuit, even if the small business, was not aware of the defective product, when purchased by a customer. Many lease companies require any size business, that leases space, have insurance liability. Because the lease company is totally aware of the fact, that if the business was sued, they could be forced to file for bankruptcy, which would effect their lease agreement invalid, and the lease company would never get paid. Also, fire or injure cost would be covered in the insurance policy, protecting the leased company from any repair costs or total loss.
Basic insurance for a small business should include property, and liability insurance. Property insurance encompasses the cost of the rent to a leasing company, all property in the business (tables, desks, machinery, heating / air conditioning equipment), coverage against losses from crime (theft, counterfeiting, and forgery), and loss of income from a business interruption. Optional additions to the insurance coverage could include for earthquake, and flood damage. Liability insurance should be a Comprehensive General Liability (CGL), which covers loss to third parties. This includes, fire liability, which is required for renting property from a leasing company, as previously mentioned. This would cover the cost of fire damage for the property owned by the landlord, as a result of negligence of the renter. The CGL would cover medical expenses or medical payments. In the event a customer trips and falls in a business, the coverage would include paying for medical cost from a liability suit, for bodily injury. Also, personal injury, that covers violations of privacy, wrongful eviction, and fraudulent imprisonment (example: holding a suspect on false premises for shoplifting) Additional coverage for CGL, would include: products and completed operations and / or personal injury and advertising. The additional coverage depends on the type of service or business provided. Also, coverage for professional liability, malpractice or errors, and omission policy would cover certain type of business or practices, such as dentists, doctors, Realtors, attorney, engineering consultants, or any specialize field.
A Business owner’s Policy (BOP) would include within an insurance package, property, and liability coverage. This would be paid in one premium. This type of policy is only for small, and medium size companies or businesses. Large companies are excluded from this type of policy, because they are considered high risk. The premium amount charged for a BOP considers the following in the calculation: Location of the building, construction material, security of the business, fire hazards, and financial stability of the business or entity.�
If a small business, has employees working on a salary Workers Compensation insurance policy required by law. Especially this applies when an employee is injured or disabled at work. The compensation would pay for the medical cost of the injured worker, based upon the policy. Except the policy would be voided by negligence by the employee.
Other kinds of insurance should be considered for a microscopic business. Coverage could include:
Auto insurance for any damage vehicles the business owns, and health insurance for the employees. Also, having an umbrella policy that would likely veil all the cost for liabilities, above the amount coverage for any insurance policy coverage. Consider that pain, and suffering seems to have almost no limit for compensation.
Small business should consider that most insurance premiums are deductible expenses on a business income tax return. Paying a high deductible would lower the premium on a business insurance policy. Insurance companies, can suggest different approaches to lower premium expenses.
by admin on February 27, 2011
Are you a senior citizen looking for the best auto insurance? Have you been with the same auto insurance company for several years and not sure whether you are getting the best coverage for a low price? Maybe you are looking for lower rates for your parents. Here you will find tips on how to rob the first steps in finding a lower rate for car insurance, and a review of the best auto insurance companies and their websites.
First, look for a driving refresher course for yourself or your senior parent, because these courses can lower your auto insurance rate. They may be listed as Senior Marvelous Driving Courses or Driver Safety Course, but these classes can also help you on the road.
Since seniors, in most cases, have had continuous coverage for several years, they can qualify for the continuous coverage discount. Even if you understanding to stay with the same auto insurance company, you can also ask your current auto insurance company for a list of available discounts you can qualify for, like putting all of your insurance needs into one company and one bill. Putting your auto, home, and life insurance policies into one, can also set aside you time, and money.
If you have not filed any claims against your auto insurance companies, or have had very few claims in the several years you have been insured, you can receive a discount for being a safe driver. Even if you have the right age, the right car, having a large amount of insurance claims can hurt your monthly auto insurance payments.
Some auto insurance companies also offer discounts for purchasing their auto insurance online. In some cases, seniors are not computer savvy and may need assistance, so I suggest asking a relative to help, visit your local library or visit your local senior care center.
Below you will find a review of my top three choices for auto insurance for seniors. By purchasing your premium and paying the full payment at once, you will also save money, instead of paying monthly.
Esurance
For standard coverage for a 55 year old senior couple driving a 2008 Chevy Cobalt, with no accidents in the past 3 to 5 years, minimum Ohio plot coverage for liability, $100 deductibles for comprehension and collision, towing up to &75, and rental reimbursement of $30 per day up to $900, is about $65 per month or $400 for 6 months of auto insurance coverage. This estimate gives you a small look at what you would be paying through Esurance. They offer quick and easy payment options online at www.esurance.com, where you can download and print a copy of your auto insurance cards immediately after your payment is processed.
The General
The General auto insurance company offers low rates on almost every insurance policy they sell, which makes them one of my favorite auto insurance companies. For about $56 per month or $280 for 6 months, or $550 per year, a senior couple ages 55 will receive the Ohio dwelling minimums for liability, $250 deductibles for comprehension and collision, rental reimbursement of $25 per day up to $750, and towing up to $75 for a 2008 Chevy Cobalt. The only downfall of The General auto insurance is that the lowest deductible for comprehension and collision is $250 each, and they pay lower amounts toward rental reimbursements. You can go to www.thegeneral.com to receive a free quote. If you choose their rates, you can purchase your policy online with a credit or debit card and download and print your insurance cards at home after your payment is processed in minutes.
Progressive
Out of these three auto insurance companies, Progressive offers the lowest rate of auto insurance with the better package deals for a 55 year traditional senior driving a 2008 Chevy Cobalt. For about $47 per month or $255 for a 6 month premium, you will receive the highest liability coverage, $100 deductibles for comprehension and collision, rental car reimbursement of $50 per day up to $1500, roadside assistance that pays for the cost of service and or reimbursement, loan or lease payoff, and enrolls you into the Myrate plan that saves you 25% off your renewal. Progressive auto insurance is an excellent choice for seniors, simply because they offer ease and convenience. For auto insurance claims, you can call their 1-800 number, and an agent will come to you. You can get your free quote at www.progressive.com. Progressive also offers fast and convenience policy payments online, and you can download and print your auto insurance cards at home immediately after your payment has processed in minutes.
