Have You Just Started A New Business?

Business Insurance

Startup businesses are exposed to a wide variety of issues including business insurance, risks, and concerns. There are many different decisions that, as a new business owner, you need to make, and selecting the right commercial insurance is one of them.

The first thing you need to do is hire the right agent to help you through the process of obtaining the right kind of commercial insurance. We recommend you choose an independent agent to help you. Independent agents have access to many different markets and can provide the right combination of commercial insurance products and services.

The purchase of business insurance is an essential investment for business owners. Insurance policies protect the business from the financial consequences of accidents and mishaps that could erode profitability and threaten continuity of the operation.

Property- Damage or loss of buildings and equipment

Liability- Injury or claims from customers or other third parties

Workers’ Compensation- Injury to employees as outlined by state statutes

Automobile- Direct damage to your vehicles and liability for the operation of your vehicles

Insurance for business operations is complex, and when considering the purchase of insurance it’s vital to take into account all of the risks that face a business. It is also important to remember that insurance needs change over time as a business grows or diversifies its operations.

Commercial insurance is one of the most important products a new business needs. Our agency can help you review your risks and guide you through the process of securing the right combination of coverage and price.

Does Your Homeowners Insurance Cover Your VRBO?

Does Your Homeowners Insurance Cover Your VRBO?

The sharing economy is on the rise in America, with many people using their home for rental property. like homes (with Airbnb or VRBO)

More and more people are using services like VRBO and Airbnb to find vacation rentals.  As a result, many people are using their homes to develop rental income.  A standard homeowner’s policy may not cover losses incurred while your home is rented out.  You may require a more specialized insurance policy.

Key Homeowner’s Insurance Concerns With Rental Property

Homeowner’s insurance will not cover rental property.

You need insurance when you do not occupy the same residence as your tenant. You will also need special insurance if you are renting out your own home temporarily, or sharing accommodations such as your basement level, with a renter.

Consider liability coverage in the event your renter is injured on your premises.

Consult a local attorney who is knowledgeable in home rental laws in your area. Some cities have new laws that make it easier (or harder) to legally rent out part of your home if you’re not a licensed hotel or B&B.

VRBO, Airbnb and other rental sites may require proof of insurance.

There are only a few insurance carriers willing to write an Airbnb liability insurance policy.  We have experience with insurers who handle this kind of risk.  While sharing economy companies like AirBnB and VRBO offer a “master agreement” that seems to cover a lot, reviewing that with an actual insurance agent will always be in your best interest to ensure adequate coverage.

The Coronavirus Will Have An Impact The United States

The Coronavirus Will Have An Impact The United States

The Centers for Disease Control recently stated that the Coronavirus will have an impact in the United States. People who contracted the Wuhan virus have reported symptoms that include fever, chills, headaches, difficulty breathing, and a sore throat.  Now is a good time to start thinking about how you might protect yourself and your family from contracting this virus.

The World Health Organization and the CDC recommend that you take the usual precautions to help prevent the spread of respiratory viruses including:

Wash your hands often with soap and water or use an alcohol-based hand sanitizer.

Cover your mouth and nose with your elbow or a tissue when you cough or sneeze.

Avoid touching your eyes, nose, and mouth if your hands are not clean.

Avoid close contact with anyone who is sick.

Clean surfaces you often touch.

Stay home from work, school, and public areas if you are sick.

Check with your doctor if you have a fever, cough, and difficulty breathing, and tell your doctor about any recent travels.

Avoid eating raw or undercooked meat or animal organs.

If you are visiting live markets in areas that have recently had new coronavirus cases, avoid contact with live animals and surfaces they may have touched.

Business Insurance Coverage That You Might Be Missing

Business Insurance Coverage That You Might Be Missing

Insuring your —- building is one of the most important decisions you make as an owner. In the event of a loss, having the right kind of insurance will be critical in recovery and resuming your business operations. Over 40% of businesses that suffer a total loss never resume operations. If these businesses had purchased the right insurance they might have been able to resume operation.

No two businesses are alike. We can offer coverage options and tailor coverage specifically for your business’s unique needs. Companies frequently purchase commercial property insurance as a part of a Business Owner’s Policy.

We wanted to provide you with a few coverage options that you may not have considered.

Having enough business income and extra expense coverage. In the event of a covered loss, your commercial property insurance can provide funds for lost income, and extra expenses to help in the recovery. All too often, these are not reviewed on a regular basis.

Property managers need to make sure all tenants have provided proof of commercial insurance. Check these annually.

The increased cost of construction for building codes is often overlooked. If your commercial building is over five years old, you may have risk due to new building codes that might increase the value of your building.

Requesting your property policy to have 100% agreed amount valuation. Having an agreed amount will eliminate any coinsurance.

We specialize in providing insurance for office building owners, apartment owners, and commercial building properties. Our experienced staff understands the challenges and concerns that building owners face every day, and work with you to provide the best coverage at the best possible price with the best service.