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Monthly Archives: June 2014


Insuring your Car for Company Use

Some business owners opt to use their personal vehicles for work purposes. In certain ways, this is better than spending more money on an official company vehicle. The danger arises if something bad happens to the vehicle; not only do you lose your own wheels, you also lose a vital company asset. As such, it will be a good idea to arrange for commercial car coverage with business insurance companies.


Commercial car insurance policies are fundamentally the same as personal auto insurance policies. The payments will help facilitate repairs or replacements if the vehicle figured in an accident as well as cover claims for the other party. Some insurers recommend covering your vehicle under both policies to allay the risk of being charged with insurance misrepresentation.


If you have employees who do field their own vehicles for official assignments, you should take out a non-owned auto insurance policy for them. The policy will cover for their vehicles, especially if your original business insurance policy does not have them on the coverage list. Non-owned policies also come into play if a personal vehicle used for work duties breaks down and another vehicle has to be leased.


Using a personal vehicle for company services will act as a backstop while the business plans ahead for an official unit in the future. Covering them under commercial insurance will give you peace of mind.


Tips on Getting Health Insurance for Businesses

Running a business is always tough. Not only will you have to take care of your finances and daily operations, but you also take responsibility for the well-being of your human resources. Health insurance is one way to make sure they get the protection your employees need in times when they need help the most. Here are some tips on getting the best out of your insurance plan:

HSA Plan


Americans today have Health Savings Account or HSA. This allows people to get low-cost health insurance premiums as long as the plan is linked to a tax-advantaged savings account. Look for business insurance plans that are HSA-eligible. Consult your tax advisor on how you can do this.


Choose Providers


Make sure that you’re choosing your health insurance provider properly by hiring one that can offer you low-cost options. You should also consider the types of plans that your prospective provider can offer you and choose the one that can be most beneficial to your enterprise. Then, decide on how big a provider network you’ll be needing.


Promote Optimal Health

One of the best ways to make sure that you’re making the most out of your company health insurance is to maintain efficient health programs in your establishment. The less the claims you file in a year, the more beneficial it will be for you overall.

IT Companies Really Need Technology Insurance

In a world strongly driven by the ever-evolving technology, getting insurance has certainly become more vital than ever for information technology companies.

Wall Street investment houses have hired tech firms to design their trading systems and handle their algorithms. New York lawyer partnerships have also gotten the services of IT companies to create a support system for their client legal files. One cannot imagine the amount of damage and chaos that these tech solutions would cause when they crash or become vulnerable to errors and even external assaults. The companies who created these products would most likely be hounded with expensive lawsuits, which could put an instant end to their existence.

Technology insurance is available to IT companies to protect themselves in cases when their service fails and causes their clients irreparable harm. As experts, tech firms are expected to perform their duties with due diligence, but sometimes, there are things that even the most experienced tech professional simply cannot foresee. Insurance would buffer the impact of such instances.

Errors and omissions are possibilities in an industry that operates on the premise of data, calculations, and analytics. Thus, extra amount of care is needed to lessen the chances for such vulnerabilities to manifest. However, when something manages to slip through, technology insurance provides that additional protection to ensure that tech companies weather the challenges that come their way.

Choosing the Right Insurance Company

Business insurance is important for owners to protect themselves, their employees, and their customers. However, a startup, or even a seasoned business, can have a hard time picking the appropriate coverage and the right insurance provider. Here are some tips to help business owners review an insurance company’s competence:

  1. Check their financial health. Request for copies of their financial statements and annual reports to have a clear picture of their financial standing.
  2. Ask for their credit rating. Insurance companies get their credit rating reviewed by agencies because they work in the financial sector. A good rating means the company can meet its short-to-medium term obligations and has a sensible plan to settle its long-term debts.
  3. Look at complaint records. Any organization is bound to have one dissatisfied customer, but it’s a matter of how the insurance company handles the complaint. One that satisfactorily resolves complaints, especially during claims, is a good choice as an insurer.
  4. Go for one to be with you every step of the way. You need to be assured that an insurance company will give you all the assistance you need. A great insurance company acts like a business partner and not just an insurer.

The right insurance company is the one that can make you feel secured–financially and personally. Don’t forget to do your homework in screening for an insurer. Remember, you are running a business and thus can’t afford to end up with the wrong insurer.

Easy Shopping for Individual Health Insurance

It’s very expensive to get sick today, and acquiring individual health insurance is one of the most popular ways to reduce the costly medical bills you may accumulate when sickness hits you. With several health coverage plans around however, it feels like an overwhelming task to pick out the one that’s right for you. Read on for some tips on how to shop for your own health insurance.

Name your necessities

Although no one can predict injury or illness, it’s possible to foresee some of your medical needs. For instance, if heart disease runs in your family, pick a health plan that covers regular cardiac screening tests and cholesterol-lowering medications.

Compare several health insurance plans

Health insurers are expected to provide a breakdown of what their packages include. Compare and evaluate each plan’s pros and cons and assess how one plan matches what you require before deciding what’s going to work for you.

Ask advice from a trusted insurance broker

Unfamiliar with insurance and medical care terms? Don’t be afraid to ask questions to experts who can teach you about the different insurance plans and how they can aid you in getting more value and earning extra cost savings. They can also recommend which ones suit your budget and your medical needs.


The Basics of Professional Business Coverage

Working at your own pace has always been your dream, fitting right inside your dedicated home office space surrounded by the relaxing atmosphere that you can only imagine in a corporate environment. Now, at last, you’ve reached what you always longed for, the good life of freelance consulting. You’re ready to take on the new, exciting challenges that wait for you while working on your own.

However, your situation puts you in a new spot of being vulnerable to clients who can take legal action against your projects. You’re constantly at risk of being indicted if one of your projects goes astray. You may potentially miss a critical deadline in a time-sensitive project, your computer program may cause a widespread glitch to the entire system, or you’re working with a company experiencing financial losses. Without anything to fall back on, one wrong move can spell disaster for your entire venture.

To combat these prospective issues, you’re going to need protection in the form of a business coverage plan. An errors and omissions (E&O) insurance is like a security to anchor you in case something unfortunate happens with the project you’re working on. It’s assuring yourself that you have something to rely on, that something has got your back.