All posts in Business Insurance

Protecting Your Business From the Public

Protecting Your Business From the Public

Protecting Your Business From the Public

Whenever a business allows people outside of the company onto business premises, there are risks involved. Public liability insurance, or PLI insurance, is beneficial and essential for any business that has physical contact with the public.

Coverage Limitations

PLI insurance is considered to be the bare minimum for commercial insurance that businesses need if they invite anyone outside the company into the business. Whether these people are from a third party or the public, your company takes a risk by allowing them on the property if they are not employees. People covered by this insurance include:

Customers to a retail store
Delivery personnel
Office visitors

Under your commercial insurance, you most likely have a policy that protects your employees in cases of injuries or illnesses. This policy is similar in that your business is held responsible for what happens to visitors. However, rather than protecting visitors, it protects your business. The insurance policy itself is designed to safeguard the company from claims of the following on the business premises:



Basic Coverage for Your Business

If you own a business that allows members of the public to access the premises, you need PLI insurance as the base level of protection. That way, if an accident happens and someone from the public files a claim against you, your business is protected.


An Insurance Company in the Protection Business

An Insurance Company in the Protection Business

An Insurance Company in the Protection Business

When you need an insurance policy, you want to work with an agent that has your best interest at heart. Owens Group Insurance is in the business of protecting people’s professional and personal lives, making it an ideal choice for business professionals and individuals.

Protecting Your Personal Life

Each person’s individual risks may be different depending on lifestyle, which is why your policy should be created especially for you. That is why an agent conducts a risk assessment to determine your coverage. You can keep many areas of your personal life secure with coverage options including:

Auto insurance

Homeowners insurance

Travel insurance

Watercraft insurance

Kidnapping and ransom

Cyber security

Personal umbrella

Safeguarding Your Business

A business should be covered in case of a disaster or lawsuit. However, each industry is different and requires various levels of coverage. For example, an IT company may need more cyber liability than a construction company. After an assessment, an insurance agent can build a policy around some of the following coverage areas:

Executive liability

General liability

Professional liability

Cyber liability

Intellectual property

Workers’ compensation

Earthquake and flood coverage

Commercial property

Since 1957, Owens Group Insurance has been protecting individuals and businesses. To mitigate disasters in both your personal and professional lives, you should choose an insurance company you can trust and rely on in stressful situations.


Top Tips To Choose an Insurance Broker or Agent for Your Business

Top Tips To Choose an Insurance Broker or Agent for Your Business

Owning and running a business comes with a host of risks depending on your size, location and industry. Finding the right insurance policies for your business starts with understanding your insurance needs. Once you know what you need, you can start evaluating business insurance agents and brokers.

Ask Questions

Have a list of questions prepared ahead of time to consult when searching the insurance website or during the interview. Knowing what answers you need can help you weed out those agents and brokers that won’t work for your business. Then use these questions during the interview can help you determine how well they may fit your business needs.


Determine what you expect from your insurance agent or broker before interviewing them. During the interview, ask questions and see how they deliver on their promised or agreed-upon commitments to you. Request a quote and see how well they delivered.


The insurance agent or broker should have a technical knowledge of the insurances they offer and your business’s risks. They should be able to tell you how the insurance they offer covers those risks. The right credentials can increase your ability to trust that expertise.

Sometimes finding the right insurance agents and brokers is whether they work personality wise. Some personalities can make the business agreement difficult regardless of how knowledgeable they are. As always, do your homework and trust your gut.


How to Be Competitive in the Insurance Industry

How to Be Competitive in the Insurance Industry

How to Be Competitive in the Insurance Industry

Anyone in the insurance business likely understands why it can be a profitable venture. Insurance is needed for virtually every facet of home and work life, especially in more areas that are more litigious or carry a higher risk. While the demand for insurance may be consistent, it can be a very competitive industry. If your company specializes in insurance, digital marketing can give you the edge you need to make your company stand out.

How Digital Marketing Works

Having a digital marketing campaign can be very useful especially if your client base includes people that prefer electronic communication. In a world where it is relatively common for people to have access to multiple devices, this can be imperative for the success of your business. Digital marketing can include the following types of strategies:

Using effective website design viewable across multiple platforms and devices

Reaching your social media audience

Utilizing research on search engine optimization

Using engaging content to attract potential clients

Documenting website traffic

Managing website and keeping it regularly updated

While there may be years of collective research on traditional marketing methods, digital marketing is constantly changing based on many variables. If you work in insurance, digital marketing experts can be a major asset to your business’s success. By contacting a professional that keeps up with the latest in this type of approach while understanding the fine details involved in the insurance industry, you can feel confident that you will be in good hands.


The Truth About Online Sellers and General Liability

The Truth About Online Sellers and General Liability

The Truth About Online Sellers and General Liability

It’s surprising how many businesses do not believe that they need to have general liability insurance in New Mexico. What isn’t surprising, however, is the number of online sellers that tend to think that they don’t need it. With all of the myths and beliefs around liability coverage, it isn’t surprising. If you’re an online seller, however, you may want to consider general liability.

Fire Hazards

General liability protects you against third party lawsuits. Say that you sell an item and the customer claims that it started a fire. Even if you don’t believe the claim, if he or she takes it to court, then you will need the funds to fight it. Likewise, if they win the case, then you’re going to owe damages that you may not be able to afford. General liability helps you cover these expenses.

Personal Injuries

When you sell a product, you may be liable for any situation that arises when that product reaches the client. For instance, if a client injures him or herself using your product in a reasonable way, then you could be liable for those damages. Again, general liability is your protection.

As a small business owner that sells products online, you are not exempt from liability or lawsuits. This is why, no matter what you sell, general liability insurance in New Mexico is right for you.


Why Your Company Could be Sued by an Employee

Why Your Company Could be Sued by an Employee

Employment practices liability claims have been on the upswing for a long time and even the best of companies can end up being sued for issues such as wrongful termination, discrimination, or sexual harassment. Over the past 20 years, employment-related claims have risen 400%, with wrongful termination suits comprising over half. These types of lawsuits have become so common that most businesses will face one or more at some point in time, with the only questions relating to when, how much will it cost, and how much damage will it do to the company’s reputation.

Reasons for Increase in Lawsuits

In part, due to federal and state legislative efforts to ensure a more diverse workplace, the three original classes of employment lawsuits have expanded to include the following:

  • Wrongful demotion
  • Failure to hire
  • Retaliation

According to industry experts, the four most common types of employment practices claims are:

  1. Pregnancy discrimination claims
  2. Claims related to unpaid interns – are they employees or not?
  3. Allegations of illegal background checks
  4. Using or requesting genetic information from employees or applicants

The size of awards has escalated over time, too, along with the increase in the number of claims.

How You Can Protect Your Company

To reduce costs, smaller or private companies will sometimes forego purchasing insurance. This decision could lead to devastating consequences. Your single biggest line of defense is to carry adequate employment practices liability insurance.


Your Options for Accounting Insurance

Your Options for Accounting Insurance

Do you work at a successful accounting firm, and are you considering upgrading or augmenting your current liability coverage? If yes, then you probably know that an error or oversight at the wrong place and time can turn into a major liability for your operation, legally and in terms of reputation. Now you know what you need, it’s time to look over your alternatives. Accountants liability insurance comes at a couple of different scales for different types of businesses.

High-revenue firms taking in well over 20 million per year need a specific type of coverage to meet the demands of their clients. It’s a fact of doing business that scandals uncovered by audits and accounting are often unfortunately blamed on the messenger. In this context, that means that major firms need the ability to address these liabilities by a method outside of legal proceedings, such as by holding accountants liability insurance with adequate coverage.

Even the smallest firms can be exposed to risks that involve questions of audit independence. Accountants are meant to be impartial and often are. The problem with independence is sometimes in the perception rather than the practice. That’s why this is an important item in most accounting insurance policies.

There are some concerns unique to small businesses, just as some risks are only present for large firms. Deciding what type of coverage you need might take more than just looking at the revenue numbers, so talk to an agent if you have any questions.


How to Choose a Business Liability Policy

How to Choose a Business Liability Policy

Because even seemingly frivolous lawsuits can wipe out business assets, there is no question that small business owners need to have business liability coverage. If you are shopping for a New Mexico business liability policy, here are some things to keep in mind.

Know your limits. Many states require companies to carry a certain amount of business liability insurance. At a minimum, make sure you research and understand the state base-level insurance requirements in every jurisdiction where you operate. And, if you have contracts to deliver goods or provide services, check to make sure you are complying with all requirements to carry a liability policy.

Survey Your business. Once you understand how much liability insurance you are required to carry, when purchasing a New Mexico business liability policy, you also must understand how much you should carry. Survey your business and determine the amount of liability coverage you need to protect your interests. Make sure the amount of coverage you buy will at least protect all your company’s assets. Also, consider whether purchasing coverage beyond simple liability insurance is a smart idea for your business.

Ensure that your company complies with legal requirements and protects its assets by purchasing a comprehensive business liability policy.



Business Insurance in Delaware for Brewers and Winemakers

Business Insurance in Delaware for Brewers and Winemakers

With hundreds of new breweries and wineries opening each year across the nation, it is obvious that America’s love of crafted adult beverages is not going away anytime soon. Many insurers have been struggling to keep up with this explosion of small-scale, highly specialized startup companies. This often makes it important that owners and operators find an equally specialized policy when looking for business insurance in Delaware.

Getting a Personalized Assessment

Many insurers have begun offering plans aimed at new brewers and vintners. However, it is typically crucial to choose a policy that is crafted around a truly comprehensive assessment of business operations. Brokers should learn about these items:

  • Type of equipment used on site
  • Types of vehicles used for transport, and whether employees or contractors are drivers
  • Amount of annual business income
  • Extent of liquor legal liability

Beyond the Basics

These are just a few of the key components of a strong policy. If you are researching business insurance in Delaware, make sure that your broker can offer a wide range of specialized coverage. In addition to general liability, you will want to find a plan that addresses the risks and unique coverage needs of your operation, from accurate loss valuation for beer and wine to on-site retail activities.


Insurance Risks of Which You Should Be Aware

Insurance Risks of Which You Should Be Aware

No matter your industry, there are likely plenty of risks of which you should consider. The key to getting the proper New Jersey business insurance is knowing the biggest risks and how to mitigate them. Learn more about the liabilities of which you should be informed with the help of a knowledgeable insurance agent.

Data Breaches

No matter how small your business operation might seem, it’s not excluded or invulnerable to a data breach. Make sure the credit card software and hardware you use meets the most current protective standards, and take steps to protect your customers’ and employees’ sensitive, personal and financial data stored on computers.

Property Damage

While you can’t stop a hurricane, strong winds or tornado from ripping your business apart, you can make sure you have the right insurance policy to combat such incidents. Familiarize yourself with your area’s climate conditions and hazards and check to see that your insurance policy includes each one. Additionally, it’s a good idea to have business interruption coverage.

The Cost of Human Capital

From employee injuries to layoffs, your employees present a unique risk to your company. Besides the standard workers’ compensation, it’s best to look into employment practices liability and management liability coverage.

Having New Jersey business insurance is essential, but so is knowing the risks that might require an insurance claim. Use these tips and the recommendations of your insurance agent to protect your business.