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A Short Guide to Business Insurance

A Short Guide to Business Insurance

Running your own business comes with a slew of different benefits that include being your own boss, setting your own work schedule, and making good money. However, running your own business also comes with a certain amount of risk.

Every business is susceptible to a variety of financial damages that can result from things like accidents, professional errors, and property damage. Having good business insurance is vital if you want to keep everything running as smoothly as possible.

How Much Does Business Coverage Cost?

The cost of a business policy can vary widely depending on a number of different factors. Some characteristics that help determine the price often include:

  • The industry your business is in
  • Your ZIP code
  • The types of coverage you need
  • The risk level of the work your business does

What Types of Coverage Should You Purchase for Your Business?

With all the different types of commercial insurance available for purchase, it can get overwhelming to narrow things down. However, there are a few types of insurance that most businesses need.

First, there’s general liability, which guards against issues involving bodily injury, property damage, and advertising injury if your company is responsible for the damage. Workers’ compensation is also extremely important if your business has employees. If your business utilizes vehicles, you are also going to want to have a good commercial auto policy.

Running your own company can be extremely lucrative, so you should make sure to protect your interests. Insuring your business can go a long way towards ensuring success and peace of mind.


The Insurance Needs of Intermediate Care Facilities

The Insurance Needs of Intermediate Care Facilities

Operating an intermediate care facility requires a great deal of attention. When a person has reached a stage of his or her life where assistance is required for daily activities or habits, there are many factors at play. While offering this service is a help to many families, you need to think about how you could be held responsible in the event of an unforeseen problem down the line. Knowing how to protect yourself and your business with the right insurance policy is a good way to stay safe.

Common ICF Concerns

Since this type of location is often considered a low-level care establishment, ICF regulation will look different than that which governs other similar institutions. Interestingly, most of the patients who will move into this type of facility will actually require more care. This can complicate matters, especially when it comes to understanding how and when you are liable. The institution might also be exempt from programs that other facilities benefit from, like reimbursement from Medicare over specific costs. Additional points to consider include:

  • Physical therapy and occupational therapy services
  • Transportation to off-site locations such as doctors
  • Specialists and external professionals who visit facilities

Compare and Discover Appropriate Coverage

By looking through the basic points surrounding this type of facility, you will start to understand more about how you should approach your insurance coverage. The more you see how an ICF differs from a traditional nursing home, the more apparent the future risks become.


The Risks Associated With Boat Rentals

The Risks Associated With Boat Rentals

To rent out a boat to another person puts your vessel at risk. While the best-case scenario involves the renter returning the boat in as good of condition as they took it, that is not always the case. Due to this fact, you may need boat rental risk insurance. Here are the risks that you face when you own a boat rental service.


Accidents are always possible. When you rent out the boat, there is a chance that the operator could strike another vessel or an object while on the water. If this happens, then you may be the one liable for any damages. You could have to pay for the other person’s boat repair, replacement or any other damages caused by the renter.


Likewise, injuries can happen aboard your vessel. In some cases, you may be held liable if your renter is injured on your boat. This is especially true if it has something to do with the vessel’s operation.

Experts at Merrimac Marine Insurance explain that boat owner’s insurance policies may not cover you if you rent your boat to clients. This is why you have to have specific insurance coverages to handle the rental. Renter insurance is designed to give you adequate coverage when you rent your vessels.


The Changing Face of the Medical Spa Industry

The Changing Face of the Medical Spa Industry

If you run a medical spa, also known as a “med spa” or “medi-spa,” you know that the industry is going through many significant changes. With these transformations comes the need for a more comprehensive insurance plan. Here’s what you need to know about the risks that come with medical spa industry growth.

Who Visits Medical Spas?

Medical spas, which have successfully blended medical clinics and day spas together, have been rising in popularity. To accommodate the growing number of people who have taken an interest in med spas, many establishments offer a wider range of services to customers, including the following:

  • Acne treatments
  • Hair removal
  • Laser treatments
  • Chemical peels
  • Injectables

Services such as chemical peels and laser treatments have attracted aging customers in particular. However, as reported by Huntersure LLC, many young adults are also visiting medical spas more often with an interest in acne treatments, laser hair removal and tattoo removal services.

To keep up with these changing demands, owners of medical spas need to be aware of the trends in their industry. The constantly growing and evolving medical spa industry also requires owners to be properly protected with the right coverage. Be sure to find the insurance plan that best fits your needs so that you can be prepared in any situation.


3 Common Questions About Insuring Your Dump Truck

3 Common Questions About Insuring Your Dump Truck

There are unique safety and liability considerations to be made when operating a dump truck. Therefore, dump truck insurance is available exclusively to the operator of such a vehicle as a specialty line of truck insurance products. Source:

Due to the specialized nature of insurance products for dump trucks, you may have questions about insuring them. Here are answers to a few of the most common.

1. What Are the Different Types of Dump Trucks?

Most people are probably most familiar with the “end dump” configuration in which the back of the vehicle is the dumping location. There are also side dump and center dump configurations. Insurance products are available to cover each type of dump truck.

2. What Factors Influence Insurance Costs?

There are many factors that can have an effect, such as vehicle age, location, the radius within which you operate, etc. Basically, anything that an insurance company assesses as a higher risk has the potential to increase the price of your dump truck insurance premium.

3. Are There Things You Can Do To Save Money on Insurance?

Maybe so. Your insurance company may offer you discounts on your rates if you take steps to promote safety, such as the following:

  • Vehicle inspection before every trip
  • Proper maintenance
  • Driver screening process

You may also be able to decrease your premium by increasing your deductible. It is always a good idea to ask your insurer about any specific discounts available.


Types of Insurance a Cleaning Company Needs

Types of Insurance a Cleaning Company Needs

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.

Workers’ Compensation

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.


Insurance for Florida Businesses

Insurance for Florida Businesses

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:

Workers’ compensation
Cyber liability
General liability
Commercial auto coverage
Professional liability
Directors and officers coverage
Surety bonds

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.


What’s the Best Insurance to Cover Your Yacht?

What’s the Best Insurance to Cover Your Yacht?

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
Comprehensive coverage
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

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.