Insurance Insights

The end of the year is right around the corner, and for many small businesses it represents a busy time that goes far beyond holiday blowout sales. With so many things on your plate, it’s a good idea to create a checklist for your end-of-year activities. This checklist will vary slightly from one small business to the next according to your specific needs, but should definitely include the following items.

If you’re like most people, you have adequate insurance for the vehicles you and your family drive, and your home is insured with basic liability insurance, and possibly fire or other types of insurance. Personal umbrella insurance is often overlooked until a major event occurs — such as a big accident or natural disaster that can put you in debt after realizing the insurance you currently have doesn’t cover the cost of damages. By obtaining personal umbrella insurance, you have the opportunity for supplemental coverage to protect your own personal assets in the event of an accident or disaster.

Whether you own a second vacation home you only use during certain seasons or the home has been left vacant because you haven’t been able to sell it, a vacant home needs a special kind of insurance. By its very nature, vacant homes are subject to certain risks, including vandalism, theft, and even teenagers using it as a party hangout.

As a homeowner, or landlord one of your biggest concerns is protecting your home and family or your investment from certain untimely or costly events, including fire.  Dwelling fire insurance can offer much needed protection, and in the case of a fire, help you to cover the expenses to repair or replace the dwelling and damaged contents. Purchasing dwelling fire insurance will protect your financial assets by enabling you a way to afford these repairs.

A personal watercraft, also referred to as a PWC or water scooter, is a small, recreational vehicle used on the water, where the rider sits or stands. Due to its unique characteristics, it is not typically included on either a homeowner’s policy or an auto insurance policy; therefore a special personal watercraft insurance policy becomes essential. Quite a few risks are associated with using a personal watercraft, such as physical damage from an accident or wear and tear on the watercraft, theft, vandalism, and property damage to other watercrafts, not to mention bodily injury. These risks should be covered with an insurance policy designed specifically for personal watercrafts.

December 1^st through the 7^th is National Handwashing Awareness Week. As such, it is the perfect opportunity to teach your employees the importance of handwashing. Every work environment requires regular hand washing to avoid the cold or flu, remove germs, and especially when employees or handling food for their customers.

Theft from customers and employees is a persistent risk year-round, but tends to increase exponentially during the holiday season. If you operate a retail store, it s important to take the necessary steps to avoid excessive theft. This includes things such as hiring security, training employees to spot thieves, and knowing where to stock your items.

Starting a new business is easier when you have luck on your side. Unfortunately, luck won’t protect you from incurring losses. Even if you are a diligent business owner, life still happens, and you will need business insurance coverage for a number of reasons.

The millions of small businesses nationwide are always looking for ways they can improve their brands, customer bases, revenues, and so on, and thus seek the best tools for doing so.

A large number of entrepreneurs across the country were likely looking forward to the opening of the Patient Protection and Affordable Care Act’s mandated health insurance exchanges because they were looking to reduce their small business insurance costs.