Posts Tagged ‘Insurance’

Why You Need Insurance to Start a Business in Ohio

Business

No matter how large or small, every business needs insurance. Even if your day-to-day activities seem safe, the possibility of something going awry is always there. Having Ohio business insurance can mean the difference between staying in business and going bankrupt after a simple accident.

Bodily Injuries

You don’t have to be in a dangerous profession like skydiving for members of the public to become injured at your workplace. Liability insurance protects you from having to pay potentially devastating medical bills if someone slips and falls on your property.

Property Damage

Damage to another person’s property can occur in a multitude of ways. For example, you might bump into a client and cause him to drop an expensive cell phone. A liability policy pays to repair or replace damaged items.

Personal Injuries

Defamation and libel can occur unintentionally; unfortunately, however, an apology is not often enough to end the matter. If someone sues you for words they consider offensive, you need insurance to pay for court costs and legal representation.

Finding an insurance agent may feel like one more task on your already long to-do list, but it is an important one. Protect your business with a solid liability policy, and discuss options for additional coverage that are available to you.

Why You Should Consider Purchasing Hemp Insurance

Hemp Insurance

The hemp business is evolving and expanding quicker than ever. There are new products being created every day that are being sold in far more venues than ever before. Unfortunately, this business is not without risks and you need to make sure you are protected in case something goes wrong. This is where hemp insurance coverage comes in.

Why Do You Need Hemp Insurance?

Like most small businesses, hemp business owners need to be prepared in the case of a lawsuit. Legal fees and defense costs can be extremely expensive and can easily sink a business. Luckily, having the right hemp insurance coverage can ensure that you will not have to cover any claims on your own.

If you are a hemp farmer, it is even more vital that you invest in the proper insurance coverage. There are a variety of circumstances that can lead to a serious loss of income if you don’t have insurance. Like most crops, your hemp plants are vulnerable to natural disasters, bad weather, and wildfires. If you experience losses due to these factors and you have insurance coverage, you won’t have to cover the costs yourself.

The Bottom Line

Owning a hemp business can be extremely lucrative. However, it is not without risks. Having the correct insurance coverage can make all the difference.

3 Ways Your Small Business Can Save Money

Small Business

Owning a small business is a labor of love, but you’re also in it to make a living. If you’re looking to cut costs without cutting corners, consider these three ways small businesses can save money.

Reduce Employee Turnover

Hiring the right talent is important to a smoothly operating business, but keeping star employees is absolutely essential. Instead of spending your time searching for and interviewing new hires or paying an employment agency to do it, work on keeping the good workers you already have on staff. Offering bonuses, paid time off, commission, raises or other incentives will reduce turnover.

Control Insurance Costs

Insurance premiums can take a big bite out of your bottom line. Review your current policies to make sure you’re getting the best rates and aren’t paying for coverages you don’t need. Also, companies can use an innovative risk management tool such as a medical stop loss captive to keep employee health insurance costs down.

Eliminate Office Space

If being on site is not essential to your business, consider closing down your physical location and switching your staff to remote workers. Many employees prefer not having to commute, and you won’t have to spend money on rent and utilities to keep the office going.

Your small business thrives on your attention to detail. By tweaking just a couple of expenditures, you can free up capital to grow your business.

3 Ways to Improve Insurance SEO

Insurance SEO

The insurance industry is highly competitive and growing all the time. Insurance SEO puts your business in front of people searching for the services you offer.

Name, Address and Phone Number

Online citations of your company’s name, address and phone number play an essential role in local search. It is vital to ensure that all sources of this information are accurate and consistent. Inconsistency creates confusion for the search engine, making your website less credible in the ranking algorithm. This mistake pushes your listing lower in the search results. Some options for building local citations include Google My Business, Yelp and Bing Places.

Backlinks

An effective insurance SEO technique is the process of link-building. Backlinks are crucial for new businesses trying to generate traffic to their website. This process involves other websites or blogs linking to your website. Arranging a link exchange with other relevant companies helps build credibility for your websites, increasing your search rank.

Content

Content development with targeted, properly placed keywords helps a website grow. Posts should be interesting, helpful and relevant to potential and existing clients. Online content should also contain keywords based on industry research.

High-quality material posted about your services needs to present unique insights into the insurance industry that separates you from competitors. Effective insurance SEO techniques result in qualified leads and conversions.

Covering Your Clients With Professional Liability Insurance

Professional Liability Insurance

As an engineering firm owner, you understand how much your clients rely on you and your team to come up with the designs commissioned. From calculations that drive design choices to detailed drawings, there is a strong focus on the specifics because they make all the difference between a design that works and one that doesn’t. What happens when a mistake in your analysis or an oversight leads to a faulty design, especially one that results in damages or losses?

Understanding Engineering Liability Insurance

Mistakes do happen, but the consequences of mistakes in engineering and design can be disastrous. It’s important for you to have professional engineering liability insurance that protects your company from lawsuits and claims by a third party due to losses incurred from errors and omissions in your work. This type of protection is also known as Errors and Omissions (E&O) insurance and can help cover your operations:

  • Mistakes in design
  • Omissions in deliverables
  • Wrong professional judgment calls or recommendations

This coverage inspires confidence with your clients in the way you do business as you have a policy that addresses your deliverables and claims that may arise.

Getting the Right Protection

Professional engineering liability insurance should not be confused with general liability that covers property damage or accidental falls. E&O insurance specifically addresses your work product and can cover legal defense costs and settlements. You owe it to yourself to buy a policy that is tailored to your firm’s specific needs.

How To Safely Enjoy Boating

Boating Safety

Spending time on the water is a favorite pass time for many people. Unfortunately, it can end in tragedy if proper safety procedures aren’t followed. Research into safe boating shows that taking a few precautions can ensure that everyone on board and around your vessel returns safely to shore.

Check Your Boat for Safety

Before you head out on the water, take a few minutes to perform a quick safety check. Ensure that all systems are in good working order, that you have sufficient fuel for your intended travel, and that any drain plugs are securely in place. You will also want to verify that safety equipment is on board and properly stowed. A few times that should always be packed include life vests for every passenger, emergency flares, and a first aid kit.

Avoid Risky Behavior

Risky behavior can get you killed on the water. A few rules for safe boating include:

  • Don’t mix alcohol and boating
  • Ensure that all passengers are wearing life preservers
  • Avoid going into areas you are unfamiliar with
  • Monitor tides so you don’t get stranded in shallow water

Practice General Safety Strategies

No matter where you are going or how you are getting there, some safety precautions just make sense. Let someone that is staying on shore know where you are planning to go and when you will be back. You should also familiarize yourself with the area you will be batting in and any potential hazards.

Even if you practice every safety precaution possible, accidents can still happen. Carrying the correct insurance for your type of boat and its use helps to limit your liability.

How Knowing the Law Helps You Properly Insure Your Dirt Bike

Dirt Bike

One of the trickiest aspects of selecting the right insurance plan for your lifestyle is figuring out what exactly needs to be covered. Too much coverage and you could be spending a fortune on options you don’t need. Too little involved in your policy and you leave yourself open to plenty of problematic scenarios. When it comes to riding your dirt bike, for example, you need to know what your policy covers in regard to off-road and street riding. The best way to achieve this is by looking over local laws and ordinances involving street bikes.

Basic Rules and Regulations in Connecticut

Understanding the basic concepts of street bike riding in CT can provide you with some insight on how you should go about your insurance concerns. Throughout Connecticut, outdoor vehicles like motorcycles and off-road bikes are permitted in acceptable locations as long as the rider has the appropriate license and insurance coverage. Snowmobiles are also allowed throughout the state and can be converted into off-road vehicles that are allowed to be ridden throughout the spring and summer. Some popular locations for biking in Connecticut include:

        Cockaponset State Forest

        Pachaug State Forest

        Thomaston Dam

Understand the Basic Laws

The more you learn about where and when bikes and similar vehicles are permitted in your state, the easier it will be to select the most appropriate insurance. Explore your options and discover the most sensible fit for your future.

How Occupational Accident Policies Protect Your Workers

Occupational Accident Policies

A comprehensive insurance plan is critical when it comes to keeping your workers safe. Workers’ compensation policies, for example, help provide coverage for lost wages and similar expenses that are incurred after an employee has taken ill or become injured on the job. While this is a standard policy, it is not the only option available to business owners. In states like Oklahoma and Texas, employers can select a different plan when opting out of the traditional compensation plan. Understanding each option can help you pick the right choice for your needs.

Policy Benefits and Options

To understand the benefits of occupational accident policies, it helps to understand how it differs from workers’ compensation packages. For one, there is more control with occupational policies. Instead of having these factors determined for you, an accident policy allows you to choose the limit of liability, assumed deductible, and level of death benefit. This helps you budget better with your insurance without sacrificing quality along the way. In this arrangement, you assume part of the risk and your policy will cover the difference. You will also be able to select from an array of policy options including:

  • Temporary or permanent total disability
  • Chiropractic benefit options
  • Accidental dismemberment
  • Passenger accident benefit

Selecting the best insurance plan takes time and research. Weigh out the pros and cons to determine which option will allow your business the chance to thrive.

3 Things Your Small Business Needs Today

Small Business

Owning and operating a small business comes with a lot of responsibility. You are responsible for deadlines, working with vendors, reinvesting capital and of course, liabilities. If you’re just starting out, you have a lot to learn along the road to success. Here are three areas that can help get you ahead.

  1. BOP Insurance

Business owners insurance is essential for small businesses that can’t afford the risk of liabilities. Everything from your building to your employees presents a liability risk. A BOP policy can be tailored to fit the needs of your business, including property and general liability coverage.

  1. Marketing Strategy

You don’t need a marketing department to have a marketing strategy. You can start out simple with a webpage and social media accounts. The key is to update often, and also purchase advertising. Social media platforms offer an affordable way to complete with companies much larger than your own.

  1. Business Plan

If you didn’t create a business plan when you started your business, start making one now. This will help you set clear goals and milestones for growth. You should review your plan often and revise it as often as needed. Studies have shown that writing down your goals makes it more likely you will reach them.

Professional Insurance for Marine Surveyors

Marine Surveyors

As a surveyor of marine vessels, your reputation and the quality of your work are of utmost importance, because boat buyers rely on your assessment to know the facts about the investment they are about to make. From maintenance issues and necessary equipment overhauls to market value, the information they get from you plays a major role in their decision to make an investment or to let a deal fall through. If you work with commercial customers who regularly buy and sell vessels, it can even be the basis of professional relationships that provide for a lot of your repeat business. That’s why you need professional liability insurance that will protect you and your customers in the event of a problem that you bear some liability for.

Industry-Specific Professional Insurance

Professional liability insurance is at its most useful when it is crafted to suit a specific industry, rather than trying to generalize risks. That means your best policies will be from marine surveyor insurance providers with a history of providing for the industry. It’s especially helpful if they have experience with both surveyors and also several other types of marine business because it shows they understand both your business model and that of your likely commercial clients. The more your insurer understands about how your industry works, the more useful, specific, and cost-effective their policies can be.