It is good news that small businesses are thriving, with many of them enjoying growing sales over the last two years. The bad news is that their insurance protection has not kept pace, according to a recent report. That means an accidental loss could undo all the progress they’ve made, or even threaten their survival.…Read more
Protect Your Business with a Business Owners Policy (BOP)
Imagine the following costly scenarios: One of your staff embezzles $80,000 from your company. A visitor to your office slips and falls after the floor has been mopped, breaking his leg. There’s a fire in your warehouse that damages half of your $2 million inventory. As a small business owner, you would likely be reeling…Read more
Does Homeowners Insurance Cover a Home-Based Business?
With recent advances in both technology and the internet, and many people working from home or having been laid off due to the COVID-19 pandemic, many Americans have or are planning to start a home-based business. But will your homeowner’s policy cover the risks of a home-based business? In nearly every case, the answer is…Read more
Does Insurance Cover Riots?
After a video surfaced showing a Minnesota police officer kneeling on George Floyd’s neck, many residents took to the streets. While most engaged in peaceful protest, many resorted to violence. The result was extensive property damage to local businesses. The question is, will insurance pay for repairs and lost of income due to a riot?…Read more
General Liability vs. Professional Liability Insurance
A consultant recommends that a client purchase and implement software to automate certain manufacturing processes. An update to the software causes it to crash repeatedly, forcing the client to shut down its production lines for 10 days until a fix is available. The client sues the consultant for giving bad advice. A new commercial building…Read more
Do I Need Terrorism Insurance For My Business?
Terrorism insurance is provided by a public or private risk-sharing partnership. It gives the government and insurers the responsibility of sharing losses if there is a terrorist attack. This coverage is offered as a special add-on feature or endorsement to commercial property insurance. If there is a terrorist attack, a regular business policy will not…Read more
What is a Surety Bond?
In today’s competitive market, a surety bond is a valuable commodity for a contractor. Obtaining a surety bond shows your company’s best face to both potential customers and lending institutions. That’s because a surety bond amounts to a seal of approval from an independent third party, the surety bond company, which has evaluated your work.…Read more
Insurance for Small Construction Businesses
Small construction businesses require several of the same types of insurance coverage that larger businesses need. In addition to this, there are types of coverage available that are specific to the construction industry. It’s best to speak with a qualified agent who has experience in insuring small construction businesses. Agents with experience are able to…Read more
What Are Surety Bonds?
Surety bonds are a form of protection that dates back to Babylonian times. Such bonds are a key piece of many public and private sector transactions. U.S. Customs, for example, requires importers to carry bonds to ensure compliance with rules and regulations. Courts require bail bonds to release criminal case defendants. Property or project owners…Read more
Disability vs. Workers Compensation
Many workers are unclear on the difference between disability insurance coverage and workers compensation insurance. Often, workers will decline optional disability insurance coverage, however badly needed – because they think they are covered under their employer’s workers compensation plan. This is usually a mistake. Workers Compensation is designed to protect both businesses and workers from…Read more
