Small Business Owner Insurance

May 21, 2010

Small Business Insurance Needs

By admin

  

Taking the step to own your own small business is a big one. Businesses are exposed to risks, and a great many of them at that. One valuable asset that a corporation owner has is that of their business insurance.

No corporation is actually required to have small business insurance, but this is not a reason to simply not have it. The liability of having your own company can be great and no owner is safe from potential liabilities.

There are several aspects of small business insurance that are important to note. First off is property insurance. If you want your companies assets protected, this is a must. This is a wise investment that will in fact cover a large variety of losses, including those from fires or even embezzlement.

Another to consider is disability insurance. If something were to happen to you physically, it is important to ask what would happen to your company. An illness or accident resulting in long term care and time away from your business can be devastating. It can result in great financial loss and even the loss of your corporation itself. This type of insurance could be a valuable asset to owners.

For some business owners, Errors and Omissions Insurance is a must. This can protect the owner in a huge way, especially in this society where the chances of getting sued are fairly great. This type of insurance can help safeguard your company and protect you from professional error. It is worth looking into if your corporations services should so warrant.

No matter what, protecting your small business is the key to its success. One of the best ways to protect your company is through some type of business insurance.
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Author: Heidi Ball

Topics: General, Who Needs Small Business Owner Insurance? | No Comments »

August 19, 2009

Small Business Owner Insurance and Call TODAY for Your Healthcare Insurance Needs

By admin

Small business owner insurance options, especially for healthcare insurance, can be complex and complicated. As a small business owner myself, I know that it can be a challenging prospect to get healthcare insurance. I went from a corporate environment in which I had access to some of the best insurance options in the retail industry…to nothing. And, in today’s world of rising healthcare costs, it is a scary thing to not have healthcare insurance.

In fact, medical costs are one of the number one reasons that Americans file for bankruptcy, and that includes bankruptcies for small business owners. Do not be a statistic, take action, and take it now. Contact HealthcareOne toll-free, 1-866-944-3769 for more information. This call will only take moments, and could save your business and ensure the health of yourself and your loved ones.

More about HealthcareOne:

Call toll-free 1-866-944-3769

HealthcareOne™ is a comprehensive Healthcare Discount Program that makes healthcare affordable for everyone. No matter how young or old you are. No matter your residency status. Everyone is accepted.

As a HealthcareOne™ member you and your family can save from 20%-60% on a variety of healthcare services every time you use the program. Save with discounts at over 900,000 healthcare locations, including doctors, hospitals, dentists, vision and hearing care, chiropractors, podiatry, diabetes supplies and even long-term care facilities. Plus save from 10%-60% on brand and generic prescription drugs at over 60,000 pharmacies nationwide plus a convenient and confidential mail order option.

HealthcareOne™ is truly for everyone for just about every healthcare need. They can save you money at thousands of healthcare providers nationwide.

With HealthcareOne, everyone is accepted and pays the same low price, with plans beginning at little more than 25 cents a day.

Call toll-free today 1-866-944-3769

Call HealthcareOne today, this phone call may be one of the best decisions you make for your small business today!

Topics: Health Insurance Options for Small Business Owners, How Much Does Small Business Insurance Cost?, Insuring Yourself as the Business Owner, Small Business Owner Insurance Options, Small Business Owner Insurance Resources, What Kind of Business Owner Insurance Options Exist?, Who Needs Small Business Owner Insurance? | No Comments »

July 17, 2009

Small Business Owner Insurance and Types of Small Business Health Insurance Plans

By admin

Small business owner insurance options abound, and there are many decisions to make when it comes to getting the right insurance coverage for your small business.  Also of vital importance is health insurance for yourself and your employees.  Click here for  Small Business Health Insurance Quotes ! 

Employees of small organizations or groups are normally given various health insurance options by the company owner. The insurance covers practically almost everything, from visits to the doctor to prescribed medications to hospital visits, etc. Need Health Insurance? Get started now and we’ll help you get the best coverage at the lowest rates possible, guaranteed!

To assist owners of small business decide on what type of health coverage best matches the budget of their company and the needs of their employees, the below offers information about the various types of plans.

Indemnity plans - These main medical plans normally include a deductible - the insurance company will start to pay the benefits after the insured person have paid the amount. Once the covered expenses go beyond the deductible amount, benefits are often paid as a fraction of the actual expenditures, which is usually 80%. These plans typically offer the best flexibility in selecting where to get medical care.

Health Maintenance Organization (HMO) plans - These main medical plans typically allow the insured person to decide on a PCP (Primary Care Physician) from a directory of network providers. A PCP is in charge of handling the health care of the insured person. If he/she requires treatment from any out-of-network provider, they need to obtain a referral from their PCP.

The person insured should obtain treatment from a network provider so as to get paid via the HMO.

Preferred Provider Organization (PPO) plan - This plan is when the insurance provider makes an agreement with chosen doctors and hospitals to provide services at discounted price. If you are a PPO member, you can seek medical care from a hospital or physician who is not from the network, but you are most likely to compensate a co-payment or larger deductible amount.

Point of Service (POS) plan - This plan is a combination of HMO and PPO, only this one is more adaptable than HMO, but does need you to choose a primary care physician. Similar to PPO, you can seek medical attention from a hospital or physician not belonging to the network, but you need to pay more of what the actual cost is. Then again, if a primary care doctor recommends you, POS will compensate the cost.

Author: Caressa Waechter

Article Source: http://EzineArticles.com/?expert=Caressa_Waechter

Topics: Health Insurance Options for Small Business Owners, Small Business Owner Insurance Options, What Kind of Business Owner Insurance Options Exist?, Who Needs Small Business Owner Insurance? | No Comments »

May 5, 2009

Small Business Owner Insurance and How to Save Money on Your Business Insurance

By admin

Small Business Owner Insurance options and coverage can really be a challenge to figure out.  You want to make sure that you have the right coverage for your business needs, and you need to balance your insurance budget.  Here are some great tips on how to best assess how much insurance you need and what kind of insurance you need so you can get the small business owner insurance that you need yet still save money.

Business insurance is one of those things that you have to buy when you run a business. Depending on the type of business you run the cost of insurance could be quite large.

Because insurance is a necessity you will want to find the best possible cover at the best possible price. Here are a few tips to help you find the cover that is most suited to you:

Compare quotes- A great way to look at prices from various insurance providers is to look online and compare quotes. You can look at quotes from different insurance providers side by side to choose the one that’s best for your business. Not only does this approach save money but it also saves time.

Tailor your insurance- Make sure that the insurance you buy is tailored to your businesses needs. It is very easy to take out a Business Insurance policy that includes cover for many things that you won’t actually need. By doing this you can cut the costs of your insurance by making sure that you are only covered for what you actually need.

Length of time you have been trading for- Some insurers may be able to reduce the price you pay for your insurance by looking at how long you have been trading for. The longer you have been trading the less risk you might be seen to be by insurers and they may be able to give you a cheaper price.

Are you in a seasonal industry?- If your businesses has seasonal peaks and troughs an insurer may be able to offer you a reduced price when you are in an "off season". Not all insurers will do this but it is often worth asking.

Have a look at your businesses risks - Sometimes carrying out a straightforward risk assessment of your company and the way it carries out business can show an insurer that you are aware of the risks your business faces and are being proactive about them. This could lead to the cost of your insurance being lower.

Look around at what’s on offer- If you have time do some of your own research and see what is on offer. If you are intent on saving money then this could be a good way to really find the best deal.

Author: Patrick T Martin

Article Source: http://EzineArticles.com/?expert=Patrick_T_Martin

Topics: How Much Does Small Business Insurance Cost? | No Comments »

May 5, 2009

Small Business Owner Insurance and When You Might Need Home Based Business Insurance

By admin

Small Business Owner Insurance options can include small business owners that work from home.  Discover what insurance options you may need to evaluate for your home business and ensure that you and your home business is protected. 

Although some home based businesses may not require any type of insurance, that doesn’t mean that you can always avoid the purchase of insurance. If you have an MLM or e-Commerce business the sponsor of your products may very well take care of any needs you might have concerning product defects or poor workmanship. However, if you sell your own products or provide a service such as writing, editing, teaching, or accounting for example, you will need home based business insurance to cover any potential losses you might suffer because of negligence or malpractice.

Another thing you want to keep in mind is that many people who buy your products or services expect you to handle any complaints you might have, so even if you have a corporate sponsor who is taking care of things that is of little help if a customer chooses to file a lawsuit against you. It is never a good idea to depend on someone else for legal protection-you need to make sure you can cover any potential losses on your own. Even if you never need to use your policy, it’s an expense that is certainly available to prevent your business from taking a loss in the event you are sued.

Do not make the mistake of thinking because you have a home business there is no need for protection to cover any losses. You need to have insurance to cover such things as products lost in transit, products that arrive damaged, defective products, and for those who are in the creative business you need to cover losses due to contractual changes or services that are not provided according to the contract and even clients who refuse to pay after work is delivered. All of these scenarios can cost you a great deal of profit and cause tremendous losses for your business. The purchase of a policy can diminish those losses substantially.

Before you begin any home based business it’s a good idea to talk to your insurance agent about purchasing insurance. When you provide the pertinent information your agent will be able to advice you if you need insurance and what kind of insurance you will need. You also want to find out your limits of liability and find out what your options are in case of a lawsuit. If you have a limited budget, you can discuss that as well and find out if you can increase your limits as your business becomes more profitable.

You may also want to invest in disability insurance and a retirement program, especially if you are operating a home based business as your full time source of income. All of these questions are ones you should identify before you make plans to start a home based business so that you will know what expenses you will need to incur after your business is operational.

Author: Dustin Heath

Article Source: http://EzineArticles.com/?expert=Dustin_Heath

Topics: Small Business Owner Insurance Options | No Comments »

May 5, 2009

Small Business Owner Insurance and Liability Insurance Options

By admin

Congratulations and welcome to Small Business Owner Insurance!  You have either started a new business, or have come to realize that you need to protect your business in this challenging economy.  There are a variety of insurance options for new businesses and small businesses, including the liablity insurance options in my article, and small business owners have online business insurance options to turn to to save time and money.  Insure your business to ensure that you will stay in business and potentially avoid financial ruin and the loss of your dream of being a business owner. 

Insurance Options for Small Business:There are a variety of insurance options that small business owners should secure, depending upon their business, business needs and risks involved in the industry and environment in which the business operates. As a small business owner, you are truly part of the backbone of American commerce, and yet the small business environment continues to become more and more challenging. We have become a very litigious society, and small business owners are often at the most risk if they are not properly insured. Issues well beyond a small business owner’s control (like a serious storm or fire) can also challenge your ability to recover and continue to do business. Furthermore, even your own health and wellbeing needs to be insured, as insuring your ability to continue to have an income is key to maintaining the business and supporting yourself and family.

Business Liability Insurance will help protect you and your business from serious financial issues. More than 3/4 of businesses in the U.S. are either sole proprietorship or structured as a partnership. Those forms of ownership exposure your personal finances and your business to what can be serioussly be considerable risk. Even an LLC (limited liability company) needs to have liability insurance. Here are are business liability insurance types that your small business may need:

General Liability Insurance is also known as Commercial General Liability and this insurance is typically the only policy you and your business may need. This type of insurance will cover your business from advertsing claims, injury claims and property damages.

Product Liability Insurance is an ideal insurance policy for businesses and manufacture or sell products, as this coverage will protect you and your business should someone suffer an injury when using that product. With recent issues, and the resulting and potential legal action regarding lead in toys, food safety issues, and more, product liability insurance is increasingly becoming an important insurance for a small business to obtain.

Professional Liability Insurance is another insurance option, particularly the professional liability insurance that is called "Errors and Omissions". This kind of coverage is needed to protect you and your business from omissions, errors, negligence and malpractice. In some states, doctors must have coverage to practice (also known as Malpractice Insurance), and some kinds of consultants also need this coverage to work as an independent contractor.

Errors and Omissions Insurance is important now more than ever. Consumers are increasingly turning to the legal system to resolve issues surrounding professional liablity. While this is a common type of insurance for doctors, realtors and financial services professionals, more and more small business owners need to know how this insurance policy can truly protect them as well. Let’s face it, professional errors and omissions can and do happen every day in many types of businesses and industries. E&O can save you and your business from complete financial ruin.

There are other insurance options beyond Business Liablity Insurance. As a small business owner, you also need to investigate the following types of policies with your insurance agent and or business attorney:Business Disability Insurance.

Business Disability Insurance covers your income should you become injured or ill. This kind of insurance will not cover 100% of your income, however, it covers from 40% to 80% of you income, depending on what you are willing to invest in this type of policy. This kind of insurance is truly vital to ensure that you do not lose your precious income in what can be an already challening time for a small business owner.

Business Property Insurance. Business Property Insurance is a basic policy to obtain to protect your company’s property and assets. Depending upon the kind of policy you purchase, you can be insured against a lot of serious losses including damage from storms, fires, and more.

With regard to Business Property Insurance, you can obtain basic form policies to cover damages from devastating events like a storm or a fire, or special form coverage to include more events and offers you much broader coverage.

Contact an insurance professional, business accounting professional or a business attorney for more information and determine what insurance options are best for you and your small business.

Topics: What Kind of Business Owner Insurance Options Exist? | No Comments »

May 5, 2009

Small Business Owner Insurance and “Bankruptcy Insurance”

By admin

Congratulations!  So you have started your new small business, and are looking for small business owner insurance or are trying to find ways to protect your small business in these tough economic times.  There are some very smart insurance options online that can assist you in protecting your business and your precious assets. 

Is there really such a thing as "bankrutpcy insurance"?   No, not really. Unfortunately, there is no insurance policy that you can take out to protect you or your business against bankruptcy.   Bankruptcy Insurance would be quite a policy in this day and age with a tough economy, a global recession and sagging consumer confidence and spending.

With that said, however, there are different forms of insurance that can help to protect you, your business, your family and precious assets against major risks that could cause a serious financial loss that could lead to bankruptcy. There are unforeseen circumstance, above and beyond the economy, that can pose a financial challenge for your business.  Here are some of those types of insurance policies you can evaluate for you and your type of business:

Product Recall Insurance: With the recent issues with toy recalls and other kinds of food recalls, product recall insurance can certainly help a business minimize the financial damage done with a product recall. Product recall insurance is a policy that is considered "extra-expense" coverage and not legal liability type coverage. For example, a product recall insurance policy may cover the expenses incurred with having to remove the product from your shelves. These expenses could include print or aired communication in notifying customers of the recall, any expenses in mailing notifications to customers or vendors, paying employees any overtime benefits that were involved in the physical recall of products from the shelves and their disposal or return to vendor. These costs can be considerable.

Business Interruption Insurance: Business interruption insurance covers the interruption of business should a disaster strike your business, such as a fire or serious windstorm. Business interruption insurance is not an individual policy, but included in a package policy. With a business interruption insurance policy you may be compensated for lost income, the profits you were forecasted to earn and operating expenses that continue even if you have temporarily ceased operations (like your utilities).

Employee Lawsuit Insurance: Insurance companies now offer policies that protect companies against costly litigation for sexual harrassment, wrongful dismissal or discriminatory employment practices.

Corporations also can benefit from insurance products that protect them from fluctuating interest rates and currencies. Foreign currency fluctuations can very dramatically impact a company’s ability to be profitable, in a manner that they could not foresee or control. Corporations, including one that I used to work for, even have insurance policies to protect the business against severe weather patterns that risk business profits.

One of the best ways to protect yourself, your family and your assets is to Incorporate your business, or become a Limited Liability Company. By structuring your company correctly you can protect yourself, your partners and any shareholders from being personally liable for the debts that the business incurs and struggles, or ceases, to pay back.   There are savvy ways to structure your business that basically act as an insurance policy, if you will, that protects you.

If you have more questions about how to best protect you and your business with any of these insurance products, contact your insurance agent or a business attorrney.

Topics: Small Business Owner Insurance Options | No Comments »