If you’re thinking about starting a small business, you know a thing or two about taking risks. Your entrepreneurial spirit is not only commendable, it’s critical to keeping our economy going. But at the same time, it’s smart business to limit your risks however and wherever you can. That’s where business insurance—and solid advice from your independent agent—come into play. Is business insurance necessary?The short answer is absolutely. Especially if you have employees, in which case some types of insurance, including workers’ compensation and disability insurance, may be required by law. You may also be required to have insurance if…
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Organizations are constantly searching for opportunities to reduce insurance costs. Companies need to view their role in the insurer/insured relationship differently. The insurance company isn’t selling you insurance; you are selling them your risk. Don’t let them assume what you do and what your risks are. By providing detailed risk management plans, including your organization’s ability to produce and implement trend analysis reporting, your organization is promoting its proactive and risk-conscious environment. When history is unknown, or the internal approach is more reactive than proactive, insurers will typically err on the side of caution. This frequently translates into higher premiums…
If you’ve never formally managed risk before, starting can be a daunting process. However, it’s likely that you’re already using strategies throughout the business. These 25 tips are simple to implement in your insurance process and will help you lower costs and better manage risk. Minimize the variability of insurance costsA key goal of any good risk management plan is to keep insurance and other costs of risk low and less variable, with fewer and less extreme peaks and valleys. Insurance rates can vary 100%, 200%, 300%, or even more from the top of the cycle to the bottom. Plan…
Use these steps to assess what types of insurance are best for your business, and how to secure coverage to provide adequate protection and minimize risks. The content below is provided by the U.S. Small Business Administration. To learn more about what they have to say about insurance, visit their website. Assess your risks.Insurance companies determine the level of risk they’ll accept when issuing policies. This process is called underwriting. The insurance company reviews your application and determines whether it will provide all or a portion of the coverage being requested. Each underwritten policy carries a premium and a deductible.…
How much you pay for auto insurance depends on several factors, including your age and marital status, where you live, and what you drive. You can’t do anything about your age, and few people will move just to lower their insurance premium. You can, however, choose a vehicle that costs less to insure. In this article, we’ll give you all of the helpful tips you need when getting car insurance. ContentsKnow Your Coverage TypesYour Vehicle Affects Your PremiumWho You Are Affects Your PremiumDecide How Much Coverage You NeedYou Can Reduce Your Premiums Know Your Coverage TypesWhat is your car insurance…
Most people only think about insurance when a loss, injury, or accident has occurred. This is the time you need financial assistance the most. Your insurance company should come through for you by helping you get treatment and restore your life. After all, this is what you pay them for. But what if you don’t do your homework in getting the best insurance coverage available? Unfortunately, you may be left with bills you cannot afford. The time to find the best insurance for your needs is before such a loss occurs. When buying insurance, there are a few steps you…
Traveling is a passion for many seniors. It’s a way to explore new cultures, meet new people, and create lifelong memories. However, traveling can also be unpredictable, and unexpected events can occur, such as medical emergencies, flight cancellations, lost or stolen luggage, and more. That’s why having travel insurance is essential, especially for seniors who may have pre-existing medical conditions that require coverage. In this article, we’ll explore everything you need to know about travel insurance in Australia for seniors. Travelers should purchase travel Insurance in Australia for seniors when visiting here Travelers should purchase travel Insurance in Australia for…
Are you trying to choose a health insurance plan offered through your employer? Choosing a health plan for the year ahead is an important decision. And if it’s open enrollment time at your company, it’s your time to explore the available health plan options before you enroll. You can use this checklist and watch our open enrollment video series to help you weigh the options and decide which health plan may be best for you. Let’s get started. Check to see which providers are in networkFinding a doctor or clinic that is in network may help keep costs lower. In…
People love to save money. Don’t you? We’ll drive across town to save a few bucks on fuel, we bundle our phone & cable, use loyalty cards, and scour the weekly grocery flyers to find the best deals. But when it comes to saving on car insurance in Canada most people don’t take action. They let their policy renew automatically, they fail to compare options, as a result, they are missing out on savings. With premiums on the rise, it has never been more important for drivers to find ways to save money. Want to save more on your car…
f you’re new to home insurance, you may be curious about deductibles and premiums. What is it? How do they work? And how do they work together? We’ll cover some common questions so you can get a better understanding of how home insurance deductibles work in Canada. What is a home insurance deductible?A home insurance deductible is the amount you agree to pay first when settling an insurance claim. This allows the risk of insuring your home to be shared between you and your insurer. However, it’s important to consider whether submitting a claim makes sense, especially if the cost…