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Importance of Business Insurance for Small Businesses

Posted on March 4, 2016February 25, 2016 by Victor Varma

By Nate Rodnay
Article Source: http://EzineArticles.com/6909188

In any business, risks cannot be ruled out. In case of a small business, even a small risk can make a huge impact on the growth and sustainability of the business. This is more so with respect to finances as small businesses, by their very nature, are devoid of strong financial support.

If you are a small business owner, you need to seriously consider taking business insurance to protect your businesses from unfortunate events that cause financial crisis.

Besides providing financial support during unfortunate events, insurance helps in increasing the credibility of your business among your employees (crucial part of your business) – they feel secured knowing that they are covered under insurance policy.

While choosing an insurance policy, assess and identify the risks that are likely to affect your business significantly. Common risks for any business include, damage to business property, life hazards to employees, and public law suits. None of these is a small liability that you can afford to overlook.

Basic types of business insurance policies:
There are different types of insurance policies covering different types of risks; you can either choose one policy or combine a few of them to make a consolidated policy that covers every risk your business might face. Here are some basic insurance policies that you can choose from:

Business liability: Your business is always at risk of facing law suits from third parties. There can be instances that make your business the subject of a lawsuit – a customer trips on a torn carpet in your office, a customer falls sick using your product, an electrical short-circuit that causes fire and damages your landlord’s building etc. These liabilities usually result in huge compensation claims. In such cases, having business liability insurance protects you against all these risks. Business liability insurance generally covers medical expenses and legal fees.

Property insurance: You don’t want to mess up with your business property. Do you? So, make sure that your business property is covered properly. Property insurance for your small business covers the fixtures, furniture, the inventory, and other physical assets of business. Property insurance protects the property against the damage, theft or loss.

Auto insurance: You need commercial auto insurance if you use a vehicle solely for your business. You should get a commercial insurance policy if your vehicle has commercial tags on it. Auto insurance covers risks of damage to the vehicle caused by an accident or vandalism. It also protects you from the third-party liability claims if your vehicle is involved in any accident.

Workers’ compensation: As an employer, it is your responsibility to take care of your employees at workplace. If any employee falls sick, gets injured or dies while working, as a business owner, you will be held accountable. You need to take care of his medical expenses. Here, workers’ compensation insurance helps you by covering the risk of injury to workers and the consequent medical expenses, etc.

Not buying insurance would put your business at greater risk. It is also not financially sensible to ignore the importance of insurance. Working out the right type and the correct amount of insurance coverage is quite difficult going by the variety of risks to your business.

Hence, approach a good insurance broker to get the right insurance coverage for your business.

InsureUS specializes in business insurance solutions. We offer a broad range of products to contractors and general business customers including public liability insurance. Call us today at 281-640-8888.

Car Insurance-Why Have Full Coverage?

Posted on March 4, 2016March 3, 2016 by agentinsure

When it comes to car insurance plans there are many to choose from. Though some states do not require car insurance it is wise to have it. Many times unexpected things occur and being insured helps. Car owners have many options when it comes to choosing plans.

Among the choices of car insurance, one aspect a car owner must consider is whether to be insured for liability alone or to have full coverage car insurance. In Cypress, TX , through InsureUS, you can choose from a variety of plans. Liability is a one choice of insurance car owners have a choice of. However, liability only covers certain situations that are often very specific. On the other hand, having full coverage on the car means that the car is insured for a variety of circumstances. Why is this particular type of coverage a good option to consider? It is a good option because this type of car insurance will most likely cover is the car is in an accident whether it be the driver of the cars’ fault or another driver. It is also far more likely to cover any incidents that may happen to the car. This type of incident would be something along the lines of a tree limb falling on it or some other type of damage that is purely accidental and may have occurred even when the car is stationary.

Having full coverage offers peace of mind to car owners. This way, no matter what may happen the car is insured and the owner will most likely not face large out of pocket costs. Car insurance plans vary and there are many to choose from that fit a variety of budgets for car owners as well. The best way to choose is to look at what each plan includes and then choose the one that best suits all needs.

Giving Back: Helping Your Cypress, TX Community

Posted on March 3, 2016March 3, 2016 by agentinsure

Living in Cypress, TX can be a beautiful thing, and one of the ways you can really get involved in your community is through service to others. Fortunately, there are plenty of good ways you can get involved, so you can focus on your strengths and on the needs that the community truly has. By doing things like donating or volunteering, you can bring hope back to people who really need it, and learn more about the place you live and the people who share it with you.

The more you learn about the Cypress area, the more you see that there are people who are very successful and some that need more help, just like everywhere else. You have the opportunity to make a difference, and to show the people around you that there are ways they can make changes in their community that have a big impact on other people. That’s what small businesses and family businesses also often do. They have a more personal touch, and make people feel comfortable with the goods and services they get from them.

Another way you can get involved in your community and give back is to support those local businesses to help them grow and thrive. Make sure you’re insured by someone in your community, like InsureUS, for example, so you can get good insurance coverage and personal service. You’ll help out a local insurance agent, and also get the coverage you need at a price you feel good about. Because you’ve helped a local business be successful, you can count that as a contribution to your community. It will also give that company a chance to give back, too, so there’s an additional benefit to making sure you keep your time, talents, and money in your local area as much as possible.

Many ups and downs to consider before downsizing

Posted on February 26, 2016February 17, 2016 by Victor Varma

Among retirees who move, half of them choose smaller digs, finds a new study by Merrill Lynch and Age Wave. Less home and yard work, cost cutting and accessing their home equity were the chief reasons for the move.

The rise in real estate values have made the payoff even bigger, say experts at MONEY.com. Home equity, for many baby boomers, far exceeds the value of their 401(k) or IRA.

* Go or stay? Swapping a home in a cold city for a condo in a warm climate should save on your retirement funds. But it takes due diligence to calculate the monthly savings. Moving alone will cost about 10 percent of the price of your old place.
Jan Cullinane, author of The Single Woman’s Guide to Retirement, says one couple saved on property taxes and heating but their homeowners insurance was far more expensive.

* Single-family or condo? You’ll save on moving expenses by staying in your present area and by having a place with fewer bedrooms. Condos cost less than single-family homes, but you’ll pay for shared maintenance and homeowners association fees, which may cover water and yard work. These costs are usually higher than buyers expect.

* Buy or rent? Sometimes renting is better than buying, especially if you want to stay closer to your kids. But the kids themselves might move in a few years. Don’t buy unless you want to be there for five years or more.
Instead of buying a home, you might rather put the proceeds of your home sale into your investment portfolio.

* Now or later? Now is better than later. You’re likely better equipped for the physical and emotional stress of a move in your sixties than in your eighties.

Bicycle injuries in the 45+ group have increased dramatically since 1998

Posted on February 19, 2016February 17, 2016 by Victor Varma

Researchers from the University of California, San Francisco, analyzed injury data for adult cyclists using a sample of about 100 hospital emergency rooms.

They found that as cycling became more popular, the number of serious injuries has increased. In particular, the study found a disproportionate rise in injuries among people over 45, who accounted for 23 percent of reported injuries in 1998.

The most recent, figures, however, now show 42 percent. And, according to the University of California, Berkeley, about two-thirds of cycling injuries requiring hospital admission occur in people over 45. Most fatalities occurred in men.

Even if you’re an experienced rider, it’s a good idea to review these safety tips from the AAA:

1. Wear your helmet to reduce head injuries by up to 85 percent.
2. Keep your head up and look ahead, not at the ground.
3. Don’t carry a rider. It puts you and your passenger at greater risk.
4. Plan ahead when riding with a group. Agree on the route and what you’ll do if separated by traffic.
5. Check local bike laws if riding in an unfamiliar place. Avoid busy roads and peak traffic times.
6. Before riding at night, ask someone to check your visibility to motorists.
7. Maintain your bicycle. Keep chains clean and lubricated. Periodically inspect the brake pads.
8. Don’t drink and ride.

Companies have programs that let them hire new graduates now, let them start work later

Posted on February 17, 2016 by Victor Varma

Businesses large and small are seeking workers who can adapt to rapid technology changes or strategic shifts. Companies are realizing they should recruit for innate abilities, or attitudes such as high motivation, rather than skills needed for a particular job.
Intuit, which brings on about 200 new college grads annually, started program hiring some three years ago. Entry-level hires are locked in more quickly since recruiters arrive on campus armed with approval to make hires on the spot.
A candidate who accepts the hiring offer sets in motion a complex, matchmaking process that includes salary discussions. Each new hire is assigned to a recruiter who coordinates a series of matching conversations between the hire and various managers.
The conversations are designed to align the hire’s interests and talents with an available position, and with teams, they help with campus recruiting to get first choices on new hires.
Everette Fortner, a head career advisor at the University of Virginia, told The Wall Street Journal that some students balk at nonspecific offers. It took one five months to accept a full-time job.
Zappos currently hires the old-fashioned way, but that won’t be for much longer. Beginning next year, the company is considering ways to allow hires to carve out their own roles.

The Duration of Yellow Lights is Unpredictable

Posted on February 12, 2016February 3, 2016 by Victor Varma

Traffic engineers in the United States have never agreed on how to time yellow lights so the interval between green and red is just right.
If it’s too short, drivers may run the red light by mistake. If it’s too long, they may intentionally risk driving through the intersection.
In the past, the Institute of Transportation Engineers (ITE) has tried to come up with a formula, but they couldn’t get enough support from their 15,000-plus members. That was 30 years ago, but they’re trying to create a standard again. Their findings might come before the board late this year at the earliest.
The current proposal relies on four factors: determining how long the yellow should last; vehicle approach speed; driver perception-reaction time; and the deceleration rate and grade of the road. Because no studies are available on these factors, the information they use will be approximations.
Timothy Gates, an engineering professor at Michigan State University and co-author of an ITE report, says it’s a matter of validating appropriate input values.
“If the formula suggests you need 4.5 seconds, and if you provide drivers with 3 seconds, you’re putting drivers into a case where they either have to stop abruptly or proceed through and run the risk of running the red light,” Gates reported recently in The Wall Street Journal.

Super Bowl 50 Madness

Posted on February 5, 2016February 3, 2016 by Victor Varma

Super Bowl Sunday is an unofficial American holiday. Last year, about 114-million viewers tuned into the game on NBC. Over 118-million took in Katy Perry’s half-time performance, making it the most-watched broadcast in the history of U.S. television.

On February 7, 2016, even non-football fanatics will be among the 68,500 tickets holders in Levi’s Stadium, Santa Clara, CA, home of the San Francisco 49ers. Hundreds will see the game from the stadium’s luxury suites, and millions will tune in on CBS’ broadcast with fans of all ages.

NBC is so confident of its enormous audience, the price for a 30-second ad has gone up 11 percent to $5 million. People often tune in to see the ads.

For the first time ever, the Bowl game is branded with the Arabic numeral 50, rather than Roman numerals. The franchise and every spectator is on the 50 yard line celebrating the fiftieth game. Pepsi, sponsor of the already anticipated halftime spectacular, says the On the Fifty theme will honor the past, recognize the present and look forward to the next 50 years.

Legendary players and coaches of winning games will join popular music artists to ensure a thrilling, star-studded event sure to make history of its own. The stage is the largest in the world. When Coldplay was confirmed as the headliner, Chris Martin, the Grammy award-wining British rock band’s lead singer, said the thought of performing on it made him nervous, but the privilege was the “greatest moment in our band’s life.” Bruno Mars and a host of other stars will join Coldplay on stage.

Stadium security will be strict and intensified.

5 Types of Business Insurance and Why You Need Them

Posted on February 3, 2016 by Victor Varma

By Karen Johnson
Article Source: http://EzineArticles.com/expert/Karen_Johnson/2212166

No matter the size or nature of your business, one thing that remains the same is the need for business insurance. There are many different aspects of your business that you’ll want to take into consideration when looking for new business insurance – or reviewing your current insurance coverage. Since every business is different, each one will have different insurance requirements. For example, a company that produces physical goods may need different insurance than a company which offers services. In either scenario, there are some similarities, and listed here are a few types of insurance that all businesses should consider.

Workers’ Compensation Insurance – for your employees

Workers’ Comp insurance is required by law in almost every state. It can provide coverage for medical costs and a portion of lost wages for an employee who becomes injured or ill on the job. Typically, this type of insurance only covers injuries or illness that occur on the job site – for example, if an employee slips and falls on a wet floor.

Since the laws regarding Workers’ Comp can be different depending on where your company is located, it’s important to work with an insurance professional to make sure you’re getting the coverage that’s required, as well as what you need for your particular business.

General Liability Insurance

General Liability Insurance is designed to protect you and your business from a variety of claims, including accidents, injuries, or claims of negligence. This type of insurance can help pay for things like property damage, medical expenses, libel, slander, legal costs, and faulty products. No one expects to get sued, but the reality is that it’s always a possibility. You don’t want to leave your business open to these types of situations, and the broader the protection, the better.

Professional Liability Insurance – “Errors and Omissions” coverage

Professional Liability Insurance can also be known as “Errors and Omissions Insurance,” or “Malpractice Insurance.” It protects you from lawsuits that allege negligence in providing professional services, providing shoddy work, or making mistakes or omissions. This type of insurance is particularly important if you have a service-based business, but can also be necessary for other types of businesses as well. Mistakes happen – so adequate Professional Liability Insurance can be helpful, even if you don’t think you’ll need it.

Property Insurance

The definition of “property” is broad, and can mean different things to different types of businesses. That’s why it’s important to make sure you carry adequate Commercial Property Insurance. Without this type of insurance, most small businesses wouldn’t be able to replace their equipment should something happen to cause damage or destruction. Property covered by this type of insurance can include buildings, computers, inventory, supplies and equipment. There are two types of Property Insurance: “all-risk” policies cover just about everything, and is a good way to avoid duplication or overlap of coverage, as well as gaps in trying to cover your liabilities. “Peril-specific” policies, or “named-peril” coverage applies only to particular perils that are specifically named in the policy. They’re usually needed when there is a high risk in a very particular area.

Life Insurance / Key Executive Insurance – protection and benefit

Offering life insurance for employees can be a valuable benefit when trying to attract high-quality employees. A business can even offer additional coverage for executives. These employees are deemed to be crucial to the running and success of the business, and may sometimes require additional insurance, above and beyond what the normal employee benefits provide. This can be another benefit in attracting top talent.

A business can also offer special “Key Person” policies for employees without whom the business could not function. Key Person Insurance protects against a key employee’s unexpected death – often times the benefit amount equals the expected revenue loss and costs required to find and train a suitable replacement. The business pays the premiums, and the insurance is considered a business asset.

It’s possible to combine some of these basic coverages as a package policy, often referred to as a Business Owner’s Policy, or BOP. Many insurance companies bundle certain coverages, and this can save you money, as long as you make sure you get the proper type of coverage.

Even if you feel you have adequate business insurance coverage that meets all your current needs, it’s still advisable to review all your coverage on an annual basis, to make sure that your coverage continues to provide everything that you need. This is particularly important if you or your business have experienced any major changes, such as change in family status, or a significant increase or decrease in business activity. Additionally, be sure to work with a reputable, licensed insurance agent or broker, who has knowledge regarding business like yours.

Key fobs are handy targets for thieves

Posted on January 29, 2016January 21, 2016 by Victor Varma

Your car is always listening for the electronic signal from your key fob. If it’s a newer model, you might not even have to press a button, just approach your car and the doors will unlock. In some cases, the engine will turn on.

The key fob’s signal is easy for thieves to intercept and might let them drive off in your car. The fob uses a computer chip to create a unique code that it sends to the car’s security system. The car has a chip that uses algorithms to generate a second code. If the codes match up, the car opens.

Each key fob/car security pair is unique, but researcher have found that by intercepting the signal twice, they could narrow down the possible combinations. After that a computer can figure out the code in just a half-hour and unlock the car.

USA Today‘s Kim Komando says always-on fobs present a serious weakness in your car’s security. As long as your keys are in range, anyone can open the car and the system will think it’s you. That’s why newer models won’t unlock until the key fob is within one foot.

Thieves, however, can buy an inexpensive signal amplifier over the Internet. That means your keys could be in the house, but a thief could walk up to the car and open it.

You can buy a signal-locking pouch to hold your keys. Or you can put the key fob in the refrigerator.

You can also just wrap the key fob in aluminum foil, but wrap it well so it can’t leak the signal.