Starting a small business, and keeping it open, is no easy task. Consumers today are still wary of the sluggish economy. This means many are only spending when absolutely necessary. At the same time, small business owners face intense competition from both independent and brand-name companies.
Then there are all the expenses of running a small business: rent, utility bills, labor costs, health insurance for employees and countless others. Add to that list commercial insurance. This insurance is essential to business owners who want to protect themselves and their businesses. Commercial policies protect business owners should an angry client file a lawsuit against their company. It also protects them if someone should fall and injure themselves while shopping at their business.
Those owners who skimp on commercial insurance, then, could find themselves facing a dismal financial future should the unexpected happen. The problem? This insurance is not cheap. And the costs of a commercial property could eat into the profits of the typical business owner.
Fortunately, business owners can work with an independent agent to find the right commercial policy for them, one that provides the most coverage at the right price.
Independent insurance agents have access to insurance policies from a wide range of big-name insurance companies. They can then access these policies to find the one that provides comprehensive coverage at a reasonable price. Working with an independent agent is the best way for a business owner to find commercial policies at a price that fits in their budget while still providing them the coverage they need.
You can also shop around yourself before selecting an independent insurance agent. Many Web sites today, including this one, allow business owners to compare commercial policy quotes simply by entering their information onto a Web portal. This is a far simpler, and less time-consuming, way for business owners to shop for the protection they need.
There are times when you need to protect your growing business, but may not qualify for a traditional commercial insurance policy because your business is still too small. Even though you may not qualify for coverage under a basic commercial plan, it is possible that you can obtain entrepreneur insurance in Lafayette, CO.
What is Entrepreneur Coverage?
An entrepreneur insurance policy is a plan that is designed to address your needs as a business owner. You may or may not have employees, so the coverage focuses on your goals as a business owner rather than a company.
The coverage may include basic liability protection and protection for any business equipment that you must maintain to provide your products or services. It will usually cover more than the amount that is available on a personal policy.
Getting Appropriate Coverage
While the policy is designed to address the needs and concerns of an entrepreneur, it is important to evaluate your personal goals and concerns before you select a plan. Identify the coverage that you need in regards to liability, protection for company assets and similar concerns.
Compare a variety of policies based on your goals. Do not settle for anything that does not address all of your major concerns, especially when it comes to protecting company equipment, property and liability concerns. The policies that are available can vary, so narrow down the choices and compare options to find the best coverage for your goals.
As an entrepreneur, you have different concerns than a large commercial company or an individual. The coverage that you need can differ from the needs of larger companies. Contact us to speak to an agent for more details.
Providing a service to your customers in Lafayette, CO does not mean that you can avoid liability insurance. Although your needs will differ from a company that sells a specific product, you should recognize that you are still responsible for any injuries that take place on your property as well as the actions and behaviors of your employees.
Contact With Customers
As a general rule, any business that has direct contact with a customer or several customers must have some liability protection. The reason is that injuries can take place unexpectedly, and it may not even relate to the actions of your employees or your behaviors. Even if your customer trips over a wet floor or a piece of furniture, you are responsible for the injuries that took place on your property or the property that you are renting.
The liability insurance that you need may vary based on a variety of factors. Depending on your goals, concerns and needs, the amount of coverage that you require will vary.
Appropriate policies will address your specific needs. If you are a doctor, then you need coverage to protect against malpractice. If you are providing massages, then you need protection against injuries that you or your staff may cause.
Evaluate your risks and then determine the plan that is appropriate for your needs. The best plans will vary dramatically based on the situation and your specific goals.
Running a business means that you must obtain the appropriate policy to address your goals and concerns. Liability coverage is a necessity for most businesses, including a company that provides a specific service rather than a product. Contact us to talk to an agent for more details about your options.
Applying for commercial-auto-insurance is a decision that every business owner will make when he or she is purchasing a car for employees to use while they are at work. While the specific details regarding the paperwork and the requirements of a particular insurance company can vary, you will usually need to provide the information of every driver who has access to the vehicle before you can obtain a policy.
License of the Drivers
When you are applying for coverage, you will need a copy of every driver’s license. Even if the individual will only drive occasionally, you must provide the basic information so that the company can provide the proper coverage.
If there is a specific individual who will not be driving, then identify that individual if he or she has access to the vehicle so that the insurance company can exclude the driver.
Along with the license, you must allow the company to look at the driving history of every individual who will be driving the vehicle. The driver’s history is part of determining if there is a risk of accidents.
Details that are provided in a driving history include the accident reports, the number of claims an individual has made and other charges associated with driving, such as a DUI or a similar offense. In many cases, the information will only extend a few years into the past, but some items like a DUI will be visible for a longer duration of time.
While you may not want to provide all of the information about your employees that the company is requested, the driver’s license and a driving history are a necessary part of properly protecting your company assets and employees. Contact us to speak to an agent to learn more.