Everybody likes a clean home and business, which is why professional cleaning companies tend to be so lucrative. Of course, if you’re thinking of starting your own cleaning business, it is important to know how to protect yourself and your employees, as well as your property and your company as a whole. According to Moody, these are the types of cleaning business insurance and bonding you’ll need to get started.
Business Liability Insurance
This is the first policy you should purchase for your cleaning business. It protects against financial loss should one of your clients claim you or your employees damaged his or her property. It provides protection for their property, your workmanship, and any potential medical expenses or defense costs, as well as several other situations.
Company Car Insurance
Chances are, running a cleaning business means you have company cars for you and your employees to travel between jobs. For this reason, it is important to have business automobile insurance. Remember, your personal car’s policy will not cover company vehicles. The policy should cover several situations, including lease gaps, driving other vehicles, and personal injury protection.
Depending on the state you work in and how many employees you have, you may need to provide workers’ compensation coverage. This protection is the law in many cases and is responsible for providing your employees with lost wages and help with medical expenses should they be injured on the job.
Dream big dreams about owning a thriving cleaning company but be sure to do so responsibly. Holding the proper insurance policies shows your professionalism and keeps you safe in the long run.
You have insurance that protects your home and other personal items, so why not have insurance that also defends your business? Commercial insurance companies in Florida can work with you to create a policy that protects you from liability claims and keeps your company safe.
Insurance Solutions To Mitigate Your Risks
Owning a business means you face certain risks. That is a given. However, you don’t have to worry about those risks when you have the right kind of insurance that covers you for everything from general, broad insurance to more specific coverage for your industry.
Some of your insurance options include the following:
Commercial auto coverage
Directors and officers coverage
The above list is not comprehensive, but it simply provides an idea of different policies you can choose from. In order to create a plan that reflects your needs, an insurance agent looks at your business to determine which policies best protect you against claims and loss.
Protecting Your Business Today
Protecting your business means understanding what your risks are and how to manage them. Knowing which insurance policies to choose can be difficult, but commercial insurance companies in Florida want to help you select programs that keep your business safe.
You worked hard to get where you are in life – to purchase the things you want, such as your yacht, luxury cars or special collector’s items. Now, it’s time to protect the things you love with the right innovative solutions insurance services. Buying the correct insurance for a luxury item such as a yacht can make sure your assets are covered, no matter what.
Types of Yacht Insurance
Don’t purchase just any boat insurance to cover a yacht. Take out more than the minimum for full coverage – otherwise, you could end up paying for costly repairs out of pocket. The general types of yacht insurance you may want to purchase include the following:
Collision liability insurance
Property damage insurance
Bodily injury liability insurance
Uninsured/underinsured boater insurance
You will want to speak to an agent for innovative solutions insurance services to match your exact needs. An insurance agent will get to know your assets, analyze risk factors and recommend the best type of boater’s insurance for your yacht.
Comprehensive Coverage for All Your Assets
One of the greatest perks about working with an agent is that you can purchase insurance to cover all your high-value assets at the same time at your yacht. Your agent can create a comprehensive plan to cover all your assets, using innovative solutions insurance services that can get creative with your coverage. That way, you get the best insurance for the best price.
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.
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
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
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:
Kidnapping and ransom
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:
Earthquake and flood coverage
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.
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.
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
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
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.
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.
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.
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
According to industry experts, the four most common types of employment practices claims are:
- Pregnancy discrimination claims
- Claims related to unpaid interns – are they employees or not?
- Allegations of illegal background checks
- 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.
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.