III - How can I save money on my business insurance? CALL LAURA!

III - How can I save money on my business insurance?


Here are five ways to save money on business insurance:

1. Shop around.
   Prices vary from company to company, so it pays to shop around. Get the names of companies or brokers who specialize in your type of business. Call several so that you can compare prices and get a feel for the types of services they would provide.
   
   It's also important to pick a company that is financially stable. Check the financial health of insurers with rating companies such as A.M. Best and Standard & Poor’s and consult consumer magazines.
2. Choose a higher deductible.
   Deductibles represent the amount of money you pay before your insurance policy kicks in. The higher the deductible, the less you will pay for the policy.
3. Buy a package policy.
   It can sometimes be cheaper to purchase a package policy, such as a Businessowners Policy (BOP), rather than individual coverages. A package policy provides standard coverages and limits of liability that are appropriate for typical small-to-medium-sized businesses.
4. Work closely with your agent or broker.
   Your insurance professional can provide invaluable advice to help protect your business from unexpected disasters. But you need to keep him or her informed about any major changes in your business. This includes major purchases, expansions or changes in hiring or the nature of your operation. Also, get your agent's advice in terms of disaster planning. Ask what you can do to both reduce risks like fire or work-related accidents, as well as the procedures that should be in place in case your business does suffer a major catastrophe.
   
   Having the right coverage and a well thought out disaster plan can save you money in the long run. It may even save your business from going under.
5. Ask about ways to prevent losses.
   You may be able to reduce your premium for certain coverages by following your insurer's recommendations. These can include workplace safety, disaster preparation, and human resource intervention.

Business Insurance Issues 

by Julia Forneris, Demand Media

http://smallbusiness.chron.com/business-insurance-issues-2947.html

Business insurance serves to protect the business, business owner and in some cases employees. The protection may come in the form of financial aid to repair a business following a disaster or to supplement income lost during the period of restoration. Insurance such as workers' compensation protects the company from lawsuits and provides financial compensation to an employee injured on the job. Concerns or disagreements can arise between and insured and the insurance company.

Insufficient Coverage

While standard policies may adequately cover many businesses, certain industries benefit from additional or specialty business insurance coverage. Business owners should consult with an insurance broker to ensure they have sufficient coverage in their policies. The Insurance Information Institute cites a case in which a dry cleaner did not have enough coverage in its standard business owner’s policy to handle a lawsuit seeking $54 million. Had the dry cleaner lost the lawsuit, it could quickly have gone bankrupt. The institute warns that "no business can afford to be unprepared for a lawsuit." Preventing such a scenario might require purchasing additional policies or adding on to a current one.

Expense

If a business has employees, the employer by law must purchase certain types of insurance, such as workers’ compensation. Starting and running a business can be an expensive venture, and purchasing insurance can add to the costs. Business owners can take some steps to ensure they get the most for their money and save where they can. Aside from helping to determine the necessary coverage, insurance brokers also aid in shopping around to find the best price. Before working with a broker, do your own shopping around; the institute recommends you find the names of companies or brokers who specialize in your type of business. You can also save on your policy by electing to pay a higher deductible should you file a claim, which will lower what you pay in premiums.

Claims

Business owners have insurance to protect their assets, and filing a claim is sometimes necessary to restore the company after a loss. Claims can also bring about some points of contention. For example, your claim may be denied, or you may feel as though you did not receive enough compensation for your loss. Remember that the job of the insurance company is to compensate you according to your policy. To minimize disagreements over claims, be prepared with your own research and records. The institute suggests that business owners record business activity and the extra expenses of keeping your business operating in a temporary location during any period of disruption. If you cannot resolve your issue with the adjuster, you can speak with the manager of the customer service department. If these measures fail, you can talk to the state department of insurance or as a las

How to Protect Your Home From Water Damage

III - How to Protect Your Home From Water Damage

Water damage is one of the most common and costly disasters affecting U.S. residences, accounting for billions of dollars in losses to homeowners and renters annually. However, consumers can protect themselves with the right amount and type of insurance coverage
Standard homeowners and renters insurance provides coverage for burst pipes, wind driven rain and damage resulting from ice dams on your roof. Some policies cover sewer and drain backups, but many do not; however, you can purchase a sewer backup rider to a homeowners or renters policy for approximately an additional $50 each year, with the policy limits varying depending upon the insurer.

Generally speaking, water that comes from the top down, such as rainfall, is covered by a standard homeowners insurance policy, while water that comes from the bottom up, such as an overflowing river, is covered by a separate flood insurance policy. Flood insurance can be purchased from the federal government’s National Flood Insurance Program (NFIP), and from some private insurers.....

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5 Insurance Lessons from "Downton Abbey" | PropertyCasualty360

5 Insurance Lessons from "Downton Abbey" | PropertyCasualty360

Forget the toys!

Is it any wonder why kids would rather play with cords, outlets & pots n pans instead of their flashy, musical toys??? It drives me insane! #kidsplayingwithcrap
Peace Be With You, Laura

New beginnings!

Alright- so a I'm totally a newbie at this blogging thing so bear with me...I HAVE NO IDEA WHAT I'M DOING...
I wanted to start a blog several months ago but with being a new mom & working full-time; it didn't really give me the opportunity to dedicate much time to launching a blog so I decided to try again later.
Well, that time is now! So many new and exciting events have happened recently & I thought to myself... "Laura, it's time you get to blogging and share your thoughts..."
Not that I think anyone will really read this or give a crap LOL
I don't care.
I think this is a fun way to express yourself- an outlet for expression that I completely have control of. Yay for me. More to come. I know you're on pins & needles wondering what will I'll post next...

Peace, Love & Margaritas,
 Laura

P.S. Look at my favorite little turd... ISN'T HE HANDSOME?!!  Masen (2/19/13 @10 months)