Business Insurance Advice
business insurance advice
Business Insurance For Startups
Thinking of starting up your own business? Already have your own business? Businesses insurance is probably one of the considerations you need to think about if you run your own business.
In the UK the business you are in and the work you do will determine the type of business insurance you will require.
Let’s say for example that you are a Bricklayer, you work on other people’s property maybe building extensions or doing odd jobs. For this type of work you will almost certainly need Public Liability Insurance. This will cover you for injury or damage you might cause to another person or their property.
If you employ people you will need Employers Liability Insurance which will cover you from claims that an employee might make if they are injured or fall ill whilst at work.
There are also various other types of insurance that you might want to have depending on what you think you might need.
Now let’s look at if you were in another profession, for example an Accountant. As an Accountant you are giving advice to other people about their finance. If a client was then to suffer some kind of financial loss because of your advice they could make a claim against you.
As an Accountant, in order to cover your business from potential claims you will need Professional Indemnity Insurance. This will cover you if advice you give is proven to have caused your client a financial loss.
When you buy your business insurance it is important to make sure that you buy the insurance that is right for your business. It is surprisingly easy how you can end up with insurance that you don’t need, such as cover that you didn’t need to take out and that pushes up the price you pay.
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Categories: Uncategorized Tags: advice, business, business insurance advice, finance, money, reference, small business insurance advice
Renters Insurance
renters insurance
Renters Insurance Basics
If you rent a home, apartment, condominium or other dwelling renters insurance is the way to protect your personal possessions. Your landlord will likely have a commercial property or homeowners insurance policy on the structure you are renting, but that policy does not cover your possessions such as furniture, clothing, electronic equipment and other belongings. Renters insurance is relatively inexpensive because it typically only covers your belongings and not the structure, but it does pay to compare renters insurance policies to find the best deal.
Without renters insurance you would have no recourse in the event your dwelling was burglarized or met with a disaster such as a fire, lightning strike, damaging winds or other disasters covered by your renters insurance policy. Your possessions could even be damaged by other renters near you if they cause smoke or water damage in your dwelling.
The exact coverage for your renters insurance policy would fall under the “named perils” in your coverage so it’s important to research and compare renters insurance quotes before choosing your renters insurance policy.
Typical renters insurance coverage:
1) Theft
2) Vandalism
3) Malicious mischief
4) Fire
5) Lightning
6) High winds
7) Smoke
Water damage (but not flooding)
Another benefit of renters insurance is — like homeowners insurance — it provides you liability coverage. Liability protects you against legal action for personal injury or property damage caused by you, members of your family and even your pets. The liability aspect of renters insurance also provides no-fault medical coverage in case someone is injured in your home.
Also like homeowners insurance, renters insurance protects you if your rental dwelling is damaged and you are forced to vacate the premises. Renters insurance pays your expenses while living away from your rental dwelling and covered expenses include hotels, meals and other living expenses. Additional living expenses coverage might be limited depending on your policy.
Renters insurance comes in two basic forms – actual cash value and replacement cost. Actual cash value renters insurance will replace your belongings up to the limit of your policy after a deduction for depreciation. Replacement cost renters insurance provides more coverage in that it pays to replace your lost possessions up to the limit of your policy. There is no deduction for depreciation with replacement cost renters insurance.
Keep in mind renters insurance provides limited coverage for high-dollar items. If you want to ensure these items are fully covered you will need to buy a supplement, called a “floater,” to your renters insurance policy.
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Renter’s Insurance
renter’s insurance
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Renters Insurance
Renter’s Insurance: What coverages can my roommates have if they are added to the policy?
I’m going to add one roommate to the renter’s insurance because the other two refused to hand over their driver license number. My agent tells me only my property is covered and not the roommate’s. I was wondering if they can be covered too for their own property protection, liability protection, and other protections. Like my limits now is 20,000/300,000 and I’m wondering if my roommate can also have their own 20K/300K protection under my name. Or must they get their own renter’s insurance?
Talk it out with the insurance agent as he knows what his policy will cover.
differant insurances differant coverages
Renter Insurance
renter insurance
5 Reasons It Makes Sense to Have Renters Insurance
Most people assume that because they are living in rental property, they are not responsible for any damage. That is not always the case. Also, what many renters do not realize is that without renters insurance, they are not protected by fire, theft , vandalism or general liability if someone gets hurt inside their home.
If you rent your home in the Atlanta area, here are 5 good reasons to get renters insurance:
1. Loss or Damage of Personal Property
Perhaps you don’t think you have many expensive things. But when something happens to your belongings, you will soon realize that having to replace everything you’ve bought in your home is a major financial setback. Renters insurance assures that you will be covered for personal property in the event of theft or natural disaster.
2. Apartment renters generally have a higher risk of property damage
How well do you trust your neighbors with your home? In the Atlanta area, there is an average of two major apartment fires per week. Sure, you and your family may be cautious. But in a multi-unit apartment building, you are depending on the other tenants to share safety and caution as well. When a fire breaks out or a leak starts in one apartment, there is the potential that many or all tenants in the building end up with damaged personal property and no place to live.
3. Renters insurance protects you against litigation
You can get sued by your landlord for damaging property in your apartment –even if it was an accident. If someone trips on your rug and hits their head on your book shelf, they could sue you for medical expenses. If you leave a pile of empty boxes in the hallway and another tenant trips over them and injures himself, he could sue you. Protecting yourself from personal injury litigation is a very good reason to have renters insurance.
4. What if your apartment was temporarily unavailable?
One type of coverage you can get from renters insurance is called “loss of use.†Most landlords are not responsible for getting you a place to stay if something should happen to your apartment. Whether you are affected by a fire from a neighbors unit, or a storm causing damage to your apartment, renters insurance can position you to make a claim for “loss of useâ€.
5. Renters insurance is CHEAP and could save you a fortune!
For as little as $19 per month, you can get up to $30,000 in coverage just in case anything happens. Your home is your home whether you rent an apartment or own a house. Renters are just as prone (if not more) to accidents, damage, and liability as home owners. Just because renters insurance is not required by law like home owners insurance, that doesn’t mean that you don’t need it.
Health & Renter’s Insurance : Advice on Renter’s Insurance
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Insurance Business Plans
insurance business plans
What do I need to look for when researching small business health insurance plans?
I am researching health insurance plans for my company of 4 employees. However, I am not too sure what to look for. How can I make sure that I get the most beneficial plan?
You should request information from all the major health care providers in your area. Make sure you ask for price sheets that compare all of their plans. Once you have them you can compare all the companies. The best rate will probably be an HMO, but look into others as well. Also ask your employees what they want in health care coverage, or what plans they had with other employers.
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Writing a Business Plan
When it comes to writing a business plan you need to remember that it should focus on four separate elements of your business: description, marketing, finances and management. These will be the main focus of anyone who wants to learn about your business. A business plan is also a good idea for someone who is just starting a business, as it gives them a way to formulate what their business will entail and where they want to go with it and how they will get there. A business plan should focus on the what, where, how, why, who and when questions and give supporting answers that will provide a good summary for an interested party. The business plan should be written in a sort of outline format with room to elaborate on any and all key points.
As with any well-written article or paper, you should revert back to your days in the English classroom in high school or college where your teacher drilled you about how to write term papers and what you needed to do. Sit down and write an outline of what you want your business plan to cover; include any goals that you have, whether they are one or three year goals or long-term agendas. Also, write several summaries of your business description, do not just go with the first one that you write and look good. The more times that you write it, you will find stuff to add and make it more interesting to a reader. And as with any good paper for your English teacher, include a cover page on the business plan that is followed by a page that states the purpose of your business. Next, if you have a large business plan with multiple pages, you may want to include a table of contents to make it easier for the reader to find certain elements that pertain to his or her business.
The main portion of the business plan can be broken into three separate categories, each with sub-categories: the business, financial data, and supporting documents. The business section will entail coverage over the description of the business, how it will be marketed and what the competition is. It can also include details about how the business will run, who will be involved with the management and the type of business insurance that has been purchased. The financial data section will cover all the details that involve the finances of the business. This can be items such as loan or credit applications, profit and loss statements, equipment and supply lists, the capital that has been invested in the business and the cash flow of the business. This section will also detail the income or loss per month or quarter. The supporting documents section will be where you can attach documents that correlate to the first two sections such as tax statements, copies of lease or loan agreements and resumes of managers and workers.
A business plan is not something that can be quickly done. A lot of thought needs to be put into making the business plan as sound as possible. It should also cover all aspects of the business, from the business description and management to the financial and long-term goals of the business. A business plan can also act as a guide for new businesses by detailing goals and achievements to work towards.
Categories: Uncategorized Tags: business, finance, health, healthcare, insurance, sample insurance business plans