When Should You Shop for New Commercial Insurance?

Every business should expect their commercial insurance agent to shop around for better insurance rates from another insurance company at least every three years as a matter of practice. Insurance agents are reluctant to submit business insurance occasions to new insurance companies every year for fear that the underwriters will get fatigued seeing the same insurance applications every year without writing any new business. But there are times when it is a good idea to shop around. Here are some of the triggers:

Claims Problems in the Past but Things Are Getting Better

If a company has had the unfortunate situation of claims problems in the last five years, this will have a negative impact on the rates and surcharges applied by your insurance company. But if you have implemented a loss control program and can demonstrate that your loss control program is working based on improvements in loss trends, a new insurance company may be more willing to remove surcharges or offer discounts based on your efforts to improve the claims frequency for your business. Also, if your insurance company is aware that you are searching for new quotes, the underwriter should work aggressively with you to secure the best rates available despite the prior losses.

Business Has Grown or Shrunk

If a business has changed its size significantly over the course of the year due to economic forces, it will have an impact on the insurance program. For example, if a business has acquired a number of new vehicles, that business may be eligible for a fleet discount commercial auto policy through different insurance company. Size also will have an impact on general liability rates and workers compensation rates. If a business has scaled back in the last year, that business may now be eligible for small business owner’s policy. Small business owner’s policies are usually significantly less expensive than commercial package insurance.

New Operations, Divisions, or Subsidiaries

If the business has entered into a new class by adding a new division, the entire business may now be eligible for insurance coverage through a different insurance company that is particularly anxious to write insurance for the new class of business. For example, if a home improvement center decides to add an installation service to their business offerings, the home improvement store including the installation service may be eligible for better rates through an insurance company anxious to write contractors but which may not have been willing to write retail risks alone.

Different insurance companies target different types of business operations. If your business has expanded into a new field, your current insurance company may be willing to write the insurance for your new operation, but may not offer the best rates because that insurance company really doesn’t like those types of risks. It is important that the insurance company you are with wants to write all of the divisions within your company and is willing to offer the best rates for all of your business classifications.

If you feel that you're not getting the best rates or that it may be a good time to check the market, feel free to express that and ask your insurance agent to market your renewal aggressively. You should also know that most insurance companies in most states have some negotiating ability. Ask your insurance agent to negotiate your rates with your current insurance company. Once you have negotiated your commercial insurance renewal quote with your current insurance company and have at least three other quotes in hand, you can rest assured that you have secured the best coverage for your business at the best rates available.

Who Needs Professional Indemnity Insurance and What it Covers

Professional Indemnity insurance is critical for businesses to smoothly carry out their professional duties. As businesses may face the risk of getting sued by their clients for giving wrong advice, the Professional Indemnity insurance provides coverage to the policyholder against claims made by clients for professional neglect, falsehood, breach of confidentiality and more. It is in best interest of the professional businesses, which are in sectors where people rely on their advice, to have professional indemnity insurance as compensation claims can significantly impact the businesses.

It Covers:
Professional Indemnity insurance provides protection to businesses against risk of compensation claims made by clients including the legal defense costs.

Negligent Act, Error/Omission
Professional Indemnity insurance provides coverage to the policyholders in case of claims filed against them by the client for loss or damage due to act of negligence, error, or omission while executing their professional duties.

Breach of Contract
The Professional Indemnity insurance indemnifies the policyholder against any compensation claims made by the clients during the policy period due to breach of contract for not providing results that meet the expectations.

Civil Liability
The Professional Indemnity (PI) insurance can provide indemnity to the insured in case of any civil liability that covers breach of contract, libel, or slander. The PI insurance protects the policyholder in case of compensation claims filed by client for slander or libel by policyholders that were unintentional or occurred while performing professional duties.

Common Professions Purchasing PI:
Professional businesses which are providing advice to people based on their expertise ideally purchase Professional Indemnity insurance.

Accounting and Financial Services
Professional Indemnity insurance is a necessity for professionals in accounting and financial services as it provides a broad coverage for variety of claims that may arise due to stringent tax laws, accounting and corporate practices. Any businessman who acts or takes decision as per the advice given by accounting or financial service firm and suffers a loss or gets fine is likely to file compensation case. PI insurance covers the accounting and financial services against such claims and legal costs.

Architecture
Architects or architectural firms provide a professional advice to people and companies in return for suitable remuneration as fees. But the professional advice given by Architectural firms might prove wrong and the client may suffer financial loss and seek compensation. PI insurance covers the architectural firm against any compensation claims and legal costs due to property or material damage.

Consulting
Consulting businesses of any type needs Professional Indemnity insurance. As consulting businesses mostly give advice to clients, the PI insurance will cover the businesses for any advice given to clients. In case the clients suffer financial loss due to the advice given to them, the PI insurance can cover the compensation claim amount and legal costs.

Information Technology
Professional Indemnity insurance for Information Technology firms provide protection against compensation claims due to acts of professional negligence, breach of duty, errors or omissions resulting into client data theft, non-performance of professional duties and more. IT firms can include computer consultancy firms, internet services, Networking etc. IT consultants can have protection against breach of contract as their client businesses can break contracts in times of economic crisis to recover project cost.

Legal
Legal professionals also need PI insurance as they give advice based on their expertise in law. PI insurance can provide cover to legal professionals for various legal activities performed by them. PI insurance for legal professionals cover compensation claims due to financial loss or negligence in professional duties meted out to clients.

Medical
Professional Indemnity insurance is important for doctors, surgeons, medical practitioners etc as this profession is prone to litigations. The PI insurance for medical professionals covers compensation claims filed due to bodily injury or death of patient as a result of professional negligence, showing lack of duty of care and more.

Neglecting the importance of having Professional Indemnity insurance can significantly cost any professional businesses in long run. Professional Indemnity insurance acts as a buffer against compensation litigations, legal defense costs etc that can ruin the businesses.

Keystone Insurance Group is Ireland’s premier supplier of public liability insurance and business insurance solutions to the Irish industry. We offer a broad range of builders insurance, public liability insurance Ireland, construction insurance and liability insurance products to contractors and general business customers. Our experienced and professional team quickly arranges quotes for all classes of business insurance.

Commercial Insurance Checklist - Get Ready for Renewal

Its that time of year again - time to prepare for the renewal of the commercial insurance policies. Every year, the details of a business changes, so too should the insurance program. Has the business grown or has it been forced to pull back? Have assets been acquired or liquidated? Here is a short checklist of items to think about while a business owner is preparing to get renewal quotes for their commercial insurance.

Basic Business Information:

• Has the name of the business changed or are there any new dba's?
• Is the mailing address and contact phone number the same?
• Has the legal entity changed? ( for example, has the business incorporated or been formed into a LLC?)
• Is the nature of the business basically the same? Are there new operations, profit centers, or has any divisions been discontinued?

Commercial Property Insurance

• When was the last time the building was evaluated for replacement cost? Replacement costs on commercial buildings have skyrocketed beyond the rate of inflation.

• How recent are the inventory reports for the business's personal property? A business owner must ensure that values represent replacement cost and not depreciated values for equipment, office furnishings and supplies, computer hardware and software.

Commercial Liability Insurance

• Are the business's quarterly reports complete? Current payrolls and sales figures will be of great help in projecting sales and payrolls for the coming year. The more accurate the data on the commercial insurance application, the more accurate the quotes will be.

• Are the sales and payrolls separated by business class, if the business has more than one class of revenue or operation?

• Has the business's net worth changed significantly? Commercial liability insurance limits should be set with the intention of protecting the company's assets from being seized in a lawsuit.

Commercial Auto Insurance

• Do you have current drivers license information for all the drivers of company vehicles? Checking driving records routinely is a wise risk management practice, The insurance company is sure to check, so if there is a red flag, it is good to know about it before the insurance applications are sent.

• Were any new vehicles purchased, or sold during the year. If a company has a large commercial fleet to insure, keeping track of the cars and trucks on the insurance can be a chore. By getting a current list of vehicles can avoid insurance problems or overpayment in the future.

Workers' Compensation

• Are the class codes for employees accurate? Making sure that the payrolls for all employees are divided into the correct class codes will ensure proper rating.

• Is the company eligible for safety or drug free workplace discounts? Has all the paperwork been completed to apply for the discounts?

Professional Liability/ Errors and Omissions

• Do you have the professional liability supporting documents ready? Often professional liability policies will require lists of largest clients or jobs. Average receipts. Copies of contracts and legal documents. Scrambling to prepare an Errors and Omissions renewal is a headache that can be avoided with some preparation.

A dependable and reputable insurance broker will be able to help a business prepare for their commercial insurance renewal. However, if the company representatives have the information ready to go when the time comes will ensure that the renewal quotes will come in well in advance of the policy expiration's, which is beneficial to all parties involved in the business insurance.

How to Reduce Your Commercial Trailer Insurance Premiums

Let’s face it, commercial trailer insurance premiums are expensive. They represent one of the biggest monthly costs to your trucking operation after paying for fuel and equipment financing. Anything that can be done to lower the premiums of truckers insurance will go straight to improving the business’s bottom line. We are going to take a look at how to reduce commercial trailer insurance premiums, so that you have a chance to save money and grow your company faster.

Why Trailers?

One of the first things that you can do to improve an insurance quote is let the insurer know that you are working with quality equipment. Well built trailers that are maintained correctly have fewer breakdowns and a lower likelihood of causing an accident. This is true for most major trailer manufacturers, but there are always exceptions.

Talk to Several Insurance Brokers

Make the insurance companies and agents work hard for your business. To keep the confusion down to a minimum, ask for quotes for the same type and amount of coverage. This will give you a base line to work with when the different trailer insurance quotes come back. Also, ask them what type of insurance that they recommend for your type of trucking business. This can help give you an idea as to whether you are paying for adequate coverage or leaving yourself open to financial risk.

Talk to Others in the Trucking Industry

You can't expect an insurance agent to say something bad about their company, which is why you need to speak with other truckers to find out who is credible. Ask them what their experiences have been with the insurers. Did they pay claims quickly? Did they drop their coverage or drastically raise their rates for any reason? You do not want to pick cheap trucking insurance only to find out that your claims go unpaid or your premiums skyrocket after an accident.

Reduce Your Premiums Over Time

While it is important to get the best coverage you can afford, it is also important to keep looking for ways to reduce that cost of insurance as each year goes by. This means that you need to shop around for insurance on an annual basis to make sure that you are still getting the best rates. Proof of years of a clean driving record can earn you bonuses with your insurance agent, but they might not tell you unless you ask. Good credit is also an indicator to insurers as to how safe you are, so getting your business and personal finances in order can lead to lower rates.

Finding Cheap Commercial Insurance

Obtaining quotes for commercial vehicle insurance can be very time consuming. Always start your search by contacting your existing insurance company. The cheap commercial insurance policies often come from a company that you have worked with in the past because they will offer discounts to repeat customers.

Online insurance companies will offer cheap commercial insurance policies, but it can be difficult to purchase the right policy. Usually the information you need will not be disclosed on the web site, making it impossible to look over your checklist to make sure everything is on your policy. Dealing with an insurance agent can be just as frustrating as online insurance shopping. Insurance agents want to sell you a policy and they will not go into details as to how you can save money with your insurance plan.

When you own or lease a commercial vehicle, you will need to purchase commercial vehicle insurance. Small business owners can become overwhelmed by the process of shopping for commercial vehicle insurance, so your best decision is to contact a broker who will be able to obtain multiple quotes for you. They can do all the hard work of negotiating the policy and making sure it fits all of your needs.

A commercial vehicle insurance policy is quite different from your personal auto insurance policy. With personal auto insurance, you can get some discounts for leaving your car in the garage and for being a safe driver. Commercial vehicle insurance policies generally don’t offer a lot of discounts. They are used strictly to protect your vehicles and other assets and businesses are not eligible for the same discounts as individuals.

Obtaining multiple quotes will be your best way to gain cheap commercial insurance. Talk to several different insurance companies and try using a few online sites to see how their policies differ from those offered by your personal auto insurance provider.

Understanding Small Business Insurance

Business insurance is very significant whenever you are into business. Whether the one you have may be a small-scale or a big enterprise, you need to make certain that you have backup avenues to which you may draw from in the event that an unusual predicament comes up and draws your company off.

As you encounter a serious financial drawback in your enterprise, your business insurance protection can assist you a lot in coping up with your downfall.

This is the reason why you have to choose cleverly as to whom you would trust the insurance coverage of your business with. If you are a neophyte in the industry and thinking how you may go about having your business secured, here are a few items that you can get done to get started on.

As a novice, the most important action that you need to do is seek advice from trusted agents with a lot of proficiency and try to get different insurance quotes from them. In this way, you'll be able to check and assess each of their features and methodically review which among them meets the requirements of your business.

Today, getting a business insurance is very important because it does not just protect the operations of your business from the drawbacks of natural disasters but also from man's action should unlikely concerns come up.

In selecting your business insurance plan, make sure that the inventory and gadgets for your business are properly protected. One important thing you'll want to check out and consider is the business liability insurance. This is to make sure that you do not get personal responsibility just in case an injury occurs during your business operations or even whenever it happens within the business' premises.

As a sensible business proprietor, it's likewise important that you include insurance coverage for your employees especially for those people who are performing works out in the field. Almost all of the business insurance policies for workers are given at lower rates and the charge is tax-deductible.

There are tons of things that you should consider in when starting a brand new business and getting a great insurance deal is the greatest way to firmly and smoothly operate your company.

Teaming up With a Texas Independent Insurance Agent to Save on Business Insurance Services

Were you looking for an excellent bargain on business insurance services? Texas is definitely a large state, and there are a variety of various commercial insurance possibilities out there.

The facts is, unless you are willing to give hours and hours of your time and energy to engaging in the research essential, there are way too many options for an individual to make to fully understand.

This is why it would make a great deal of sense to work with an independent insurance agency who gives you the tailored customer service which you are not able to get somewhere else.

And of equal importance, an independent agent will assist you in obtaining the very best deal available regarding business insurance services.

Many people in Texas frequently ask the question whether or not you actually get a better offer when you use an independent insurance agency. The resounding answer is quite simple - "Yes"!

The reason why this debate exists is really because quite a few larger insurance companies find that individuals who utilize independent insurance agencies can select from a wide variety of insurance choices.

Simply compare that to working together with a captive insurance agent who can only offer a person products currently offered by the insurance company that employs the agent.

Just where do you actually imagine you'll receive the higher quality bargain? Of course, you actually take advantage of the greater deal at the place that provides you a lot more possibilities.

But it's not just about providing you a considerable number of choices and consequently leaving it right up to you to make the final decision.

Be mindful that deciding on the ideal business insurance services involves a considerable amount of attention to detail plus a particular level of prowess.

For that reason when an independent insurance agency supplies you multiple choices, the independent agent who you're partnered with will help sort through the numerous insurance options and deliver the desired results that fits your needs as well as your wallet.

Obtaining a degree of protection for your business plus getting actual value on policy purchased can be easily accomplished by seeking the services of an Texas independent agent.

Inside any closing analysis, doing business with the help of an independent agency can most likely find you the much better deal in business insurance services.

You should never make it possible for yourself to get duped or misinformed by the actual high-priced advertising efforts made by large insurance companies.

Their marketing focuses more on brand that the actual quality of the service they provide. They want you to have that false sense to believe that you are getting the greatest plan by just operating exclusively with their particular insurance representatives.

Often the exact reverse is without question is the case - an individual happens to be more likely to spend extra than in the event the person had simply consulted with and utilized the services of an independent insurance provider.

Know About Small Business Liability Insurance

Every business, whether it is big or small, wants to survive, sustain and make profits. But business of any type or size is unpredictable and may get into losses due to unwanted or unexpected circumstances like natural calamities, fire, theft or other riots. It is very difficult for small businesses to protect their occupation or business if they face adverse situations with their meager budgets. Many small businesses perish as they fail to cover these losses. So, it is very important for small businesses to have a risk management system for their business to protect themselves against unforeseen losses.

Insurance, considered as a critical part of the risk management system is the only way for small businesses to protect themselves. Today, there are many types of insurance policies, of which Liability Insurance is considered to be the best one for small businesses as it provides compensation for the fines associated with liability cases.

It covers following risks
Liability insurance protects a small business from loss or damage to the maximum extent. Business liability insurance options are very useful for small businesses as they cover the business property, claims for injuries by employees and visitors, employee compensation and many more. Some of the common types of liability insurance for small businesses and their coverage are explained below in detail.

Business property insurance
Business Property Insurance, as the name itself indicates covers the business property of the small business. Its coverage includes the building or buildings in which you do business, carpeting, curtains, outdoor signs, property of others etc. If you choose a right business insurance property, it covers all the important equipment such as computers, machinery, supplies, stock etc.

Professional indemnity insurance
Professional Indemnity Insurance, also called as Professional Liability Insurance or Errors and Omissions' liability insurance, is an extremely important consideration for small professional businesses that are in service industry. They are exposed to a wide range of claims that may include areas such as errors, omissions, professional neglect, falsehood, breach of confidentiality etc. This insurance protects businesses from the claims made by clients against the delivery of poor service. This type of insurance is generally purchased by professionals such as a doctors, lawyers, engineers, architects, brokers, financial advisers, accountants, consultants, building contractors, and attorneys etc. who run their own business.

Product insurance
Product insurance or Product Liability Insurance protects the business owners from the lawsuits filed against them for manufacturing or producing defective products. This type of insurance is very useful for small scale manufacturers or importers. This liability insurance protects small businesses in case a person is injured or died using a product manufactured or developed by the business.

Employment practices liability coverage
Employment Practices Liability Insurance covers small businesses against claims by employees or business associates when their legal rights are violated. This insurance policy protects employers against breach of employment contract, deprivation of career opportunity, discrimination, mismanagement of employee benefit plans, negligent evaluation, sexual harassment, wrongful discipline or termination etc.

Excess liability coverage
Excess Liability Insurance, also called as Umbrella Liability Insurance or Commercial umbrella insurance provides additional protection to any of several other policies that a small business might hold. It protects businesses when an accident or similar claim exceeds the amount of their existing liability coverage, which may include medical costs or other claim payments.

Workers' compensation insurance
When an employee gets injured at the workplace, it is the employer who is responsible for the payment of medical bills. Sometimes these medical bills may run into thousands of dollars, which can be very burdensome for the small business owners to pay. The workers' compensation insurance kicks in during these kinds of situations. The workers' compensation policy provides wage replacement, medical, and rehabilitation benefits to the employees who get injured on the job.

Other insurance
Apart from the above mentioned insurance policies, there are many other insurance policies that help small businesses such as:

- Auto Insurance - to cover the company vehicles,
- Health Insurance - to protect employees when they are sick,
- Crime Insurance - to protect business against employee fraud,
- Key Employee Insurance – to protect small business against the loss of their key employee etc.

All businesses may not need the same type of insurance. In order to determine a perfect liability coverage for your business, you need to carefully consider all your needs and risks involved in your business. With a good insurance policy, small business owners can have peace of mind and focus on their business knowing that their business is well protected.

The Importance of a Good Texas Commercial Insurance Plan

Every one of us need to make investments in insurance policies to protect us against just about any potential financial damage. That is more valuable when we are thinking of buying a Texas commercial insurance policy that individuals choose the best insurance policy which provides you the desired coverage in the event of an incident.

The best way to get going is usually to search for commercial insurance rates through the best insurance companies. Make certain that the insurance rates you get, deal with all the facets of the policy such as the expense as well as coverage. It truly is observed that the majority of times many of us provide a large amount of significance towards the cost of the policy. Therefore, there is nothing wrong with it. Nonetheless, that might cause a massive loss over time since most of the times inexpensive insurance policies tend not to provide the desired coverage.

We come to know about it only when we register for an insurance claim with the insurance provider. And so, it's important that individuals pay attention to the type of protection we're getting in an insurance plan instead of only the expense. The best way to accomplish this would be to chalk out the actual coverage we have a need to take care of ourselves prior to inviting commercial insurance quotes. It will help us to bargain together with the company in order to find a plan which is not only easy on our pocket yet at the same time provides you with your ideal coverage.

Ensure that you go through a professional insurance firm that have excellent relations using the top rated insurance carriers and will also be in a position to give you a good support along with after sales offerings in the event you submit an insurance claim.

Simply a top rated insurance agency can assist you with business insurance rates from the state funded insurance firm which makes your funding in the insurance policy safe as well as in case the insurance carrier gets into monetary issues then state assured resources make sure that the money is safe.

Insurance Options for the Self-Employed

If you work by yourself and are self-employed then you need to ensure that you have organized the right insurance for your business and you. This is insurance that covers your business and you against any unexpected or unforeseen accidents, mishaps or set-backs that could cause you serious problems and serious losses. Though you may never use it, this kind of insurance is essential to buy just in case that rainy day does ever come along!

The first thing to look for is Public Liability Insurance. A large number of companies sell insurance known as Public Liability Insurance for the self-employed. A little bit of research on the internet uncovers a host of different policy types and a broad selection of quotes. Public Liability Insurance is one of the most important types of insurance for a self-employed business. It protects you and your business against claims made against you by third parties, clients and customers and members of the public.

The precise type of insurance you will want will depend on your form of self-employment and one policy type will vary from another. Depending on your career and the nature of your relationship with the general public it is possible you will have to combine a form of Public Liability Insurance with other types of insurance. As an example, financial advisors might need to take out both a normal public liability insurance policy and in addition, some kind of professional indemnity insurance. This is because of the nature of their job and the fact that they hold a position of trust in talking with the public at large. As well as this, it is often the case that the regulatory bodies of your industry will require that this insurance is taken out.

So what then are some of the most commonly used insurance policies for the self-employed?

Public Liability Insurance
As mentioned above this protects your company from claims by the public, by clients or customers or by any third party and is essential for nearly all businesses.

Employer's Liability Insurance
Crucial insurance for self-employed workers who have got to their point in the development of their business where they will have to employ people.

Professional Indemnity Insurance
This is insurance that covers you for the services you take on in your professional capacity and covers any service or advice you pass on to clients or customers. If that advice proves to be inaccurate or a service done badly and the customer sues you for damages, you would need Professional Indemnity Insurance.

Commercial Vehicle Insurance
For those workers who use a commercial vehicle for business purposes, commercial vehicle insurance is required by law.

Business Buildings Insurance.
If you operate a business from home or rent or own a business site then Buildings Insurance is a must. Many policies will cover not just the building but also the business equipment inside.

Whatever type of insurance you’re after, look out for insurance brokers who specialize in self-employed packages. Normally they will also sell tax solutions, contractor mortgages, contractor pensions, umbrella companies and other things relating to self-employed working. They will also be able to find you the best rates on the market.

Business Insurance: Umbrella Insurance Coverage for Business

Business Insurance:
Business insurance, to explain it in simple terms, is about paying a premium you can afford to cover possible costs you may not be able to afford. When you pay your insurance premium payments to the insurance company, you are taking a risk, in so far as there are no guarantees of getting your money back. On the other hand, if you suddenly have an accident or if your office catches fire and goes up in smoke or if someone files a successful claim against your business, you have the guarantee that the insurance company will cover the often stupendous costs involved. This is what is known as liability insurance and all businesses worth their salt usually insure themselves with different liability insurance policies like General Liability, Employers Liability, Hired and Non-owned Auto Liability and Automobile Liability. In addition to these insurance policies, you should also get an Umbrella Insurance Policy. This will provide an additional liability protection by extending the limits of your liability insurance protection. You will realize just how handy this is the event that your business should ever face a law-suit.

Having an insurance policy helps:
Legal fees and Lawyers' fees are no small matter and, depending on your business and lawsuit type, can even go into millions. If this happens, you will be mighty grateful you don't have to fish out the millions from your own pocket, especially if you don't have them and are required to forfeit your entire property and future inheritance to make ends meet.

Having business insurance coverage is not only a safety net against the unthinkable happening, but also necessary for conducting regular business transactions. For example, if you plan on renting your office premises, you will have to furnish an insurance certificate as a rent-money guarantee. So if you suffer a setback and your business folds up, the landlord doesn't get to share in your loss and miss out on the rent money.

Insurance coverage:
There is a difference between property insurance coverage and liability insurance coverage. The former is based on the estimated market value of your property. The latter value is hard to pin down. There is no way of knowing beforehand how much costs you are likely to ring up if you get landed with a law-suit or have an accident. Your general liability policies will not, of course, cover these costs. It is the business umbrella liability insurance that will provide the required extra coverage.

Small Business Health Insurance

Company owners need health insurance for themselves and for their employees. Small businesses sometimes have difficulty finding decent health insurance plans for affordable costs. Here are some websites that can help you find the right plan. Not all plans are created equal, but one or more of these companies can help you find or tailor a plan to your needs.

At www.ehealthinsurance.com you can get quotes, compare plans, and apply online. They offer state specific information from a variety of carriers at no cost to you. This site is a one stop shop for you to look a several different coverage options.

On the www.netquote.com website, you will be able to request detailed information about group health insurance, general liability commercial auto, and worker’s compensation. They also offer information about coverage related to fraudulent employee acts, contractual obligations, and client financial loss.

Under the www.costco.com services tab, you can find small business health and dental insurance information. Coverage is available for Washington, Nevada, California, Oregon and Hawaii only.

Before visiting these sites for quotes, make certain that you are prepared to have the companies contact you. To provide you with accurate quotes, many of these companies will request specific information about the type of business, company annual revenue, and how many employees will be enrolling. Small business health insurance plans typically cover from 5-50 employees. There is typically no obligation, but you should know exactly what your needs are prior to leaving your information with one of these insurance companies.

Health insurance costs are growing for everyone, especially small businesses. Another option to consider is Health Savings Accounts, or HSAs. These accounts allow you and your employees to deposit savings tax free to an interest bearing savings account that can be accessed to pay for medical expenses. Money that is not used will automatically rollover for use in future medical expenses. HSAs are complementary to high deductible insurance plans, and are usually not stand alone. The Bank of America and Wachovia both offer HSA programs. Many other insurance companies you encounter during your search might offer an HSA as an addition to the plan.

As an employer, you can choose to pay for your employees’ health coverage in full or in part. Certain plans allow for workers to elect only certain coverage options, and pay a fee through payroll deductions.

Having health coverage is important for keeping employees active and healthy. Benefits like these increase the chances that workers will stay with your company long-term. Hopefully, you are more prepared in your search for the right coverage.

Business Insurance

Business insurance is a great way to insure the business or organization. It totally eliminates the possibility of a break down due to the chance of an area not being covered against any business risks that are unavoidable. Business insurance schemes are designed to protect a business from potential business risks that may emerge in time. There is the small business insurance coverage plan for the fledging company, which is easily available today. The cradle stage of such a growing company does encounter a series of obstacles that keep popping up, as the business staggers fro secure ground – on its way to infancy and progress.

Business Insurance for any business establishment enables the entrepreneur to eliminate the tension and worry that is natural while making yet another investment (insurance). The business liability insurance coverage plan includes a health insurance package too. The insurance is aimed at covering all areas of concern regarding the business’ responsibility towards clients and the overall performance through the difficult initial period. Business insurance works both ways. As the entrepreneur identifies a good agent who enable him or her to put together a lucrative multi coverage package for the venture, the agent also bags a higher commission for selling the multiple insurance policies.

Business insurance quotes are offered to prospective clients for the many different kinds of business-specific insurance combinations. They are all designed to ensure the survival of the business, against all odds. There are a number of business insurance groups that offer discounts in the case of the purchase of several insurance policies or packages for the organization. The discount and the investment are worth every dollar because every sensitive area of the business is covered via such schemes and 100% security is guaranteed. There are a number of insurance coverage ranges that offer effective coverage to the professionals as well as any physical injury.

The business income coverage scheme, which is a part of the business insurance policies offered today, is a real steal. The business insurance quote is always affected by the business need and preference. The business insurance quotes offer the prospective clients a glimpse of what the company is offering and most importantly, at what cost. A factor every businessman needs to research on is whether or not the insurance company can assure the timely delivery of the said coverage. It pays good dividends to conduct prior research on the insurance agencies tapped and get essential existent client feed-back. Comparison shopping for quotes helps a lot too.

The liability coverage package helps professionals like architects, accountants and bankers. These professionals deal with expensive legal services which show through the subsequent negligence or poor performance pattern while on a project. Business Insurance schemes that are planned for the small, medium and large business establishments are useful when the package covers theft and loss of essential data. There are business insurance plans that also include car insurance, to ensure a workable and lucrative coverage for the transportation of the business.

Business insurance has a very wide coverage scope and the quotes can be adjusted to suit the business specifics. The business insurance acts as a ‘fall back plan’, just in case the initial business scheme collapses. It enables a business to remain stable inspite of technical snags and these schemes are handy to maintain and not costly at all. The business insurance terms and coverage conditions can be better understood with a comparative study. A planned and well informed move towards covering the business with an insurance plan ensures better deals and consequently, better decisions.

The entrepreneur needs to look into the right insurance coverage(s) for the business, the areas that may be covered in the policies and the extras desired. Another important aspect is to study and calculate is the premium for the security offered, before you sign up for the services. This could save you a lot of tension. Business insurance can protect the venture from damaged merchandise and helps cover the incurred costs, to enable the business to flourish.

Bonded and Insured

The concepts of bond and insurance are quite parallel, and in the business world both these instruments are often used in collaboration for the convenience of the contracting parties, and also to get better coverage. In the following paragraphs, the bonded and insured meaning has been elaborated upon. Have a look…

About Bonds

The term bond essentially implies a financial instrument. A bond which is existentially a contract that expires upon some incidence, or non-happening of an incidence. Suppose party A and party B have a business deal wherein A is supposed to deliver goods of a said quality and quantity to B on a specific date. In order to ensure that the contract comes through, the parties make a bond of say $5000. Here the price is essentially paid by A. In case if A is not able to deliver the said goods as per the contract, then B can claim the bond and revive the money as companion against the non performance of a contract. Making a bond to see transaction through, is a common convention across the globe. The specialty of the bond is that money can be claimed in cases where either of the contracting parties, cannot see the contract through either due to incapacity or by planned intention. This phenomenon is known as a breach of contract. In case of accidents and actually unanticipated events, the bond money is usually not claimed. The bond contract consists of the conditions under which the money can be claimed. This entire mechanism is usually mandated by banks and is governed by the mercantile law.

About Insurance

Just like a bond, a business insurance is also an assurance contract, or rather a business security. This contract is a contract of indemnity, meaning that the insurance coverage and financial compensation is provided to the insured person who pays the premium. In the aforementioned example, it is said that the bond usually does not cover the facet of accidents or certain events that are unanticipated. The insurance contracts the accidental problems that might occur in the contact's proceedings. These losses or incidences are not necessarily breach of contract. Unlike a bond, which is appreciable for a specified transaction, an insurance policy is further responsible for some specific part of the contract, for example, insurance on goods. The insurance is of course provided by an insurance company.

Bonded and Insured

So, how to get bonded and insured, here's the answer. Some businessmen rightfully employ both techniques wherein the probability of un-cushioned loss is nullified. The insurance is taken out on the insurable factions of the contract such as goods. The remaining part, such as breach and non-performance of contract is covered by the bond. In several cases, the liability insurance of either parties is not considered while concluding upon bonded and insured contracts. The bonded and insured cost is of course higher than a single bond or insurance. For example: a bonded and insured pet sitter is covered by the bond if the pet is lost the bond would be claimed, and if it is injured the pet's medical insurance gets activated. The same principle also goes for bonded and insured cleaning agencies, or for that matter any kind of contract or transaction.

The advantage of getting bonded and insured is quite obvious, no loss under any circumstances. I hope that the elaboration on bonded and insured is resourceful.