Insurance Insights
Clothing Store Insurance
Clothing stores sell apparel items for kids, teens, and adults, along with a variety of other accessories. If you’re a fashionista or style guru, turn your life’s passion into a lucrative business by opening your own clothing store. But keep in mind the risks you may have and protect them with proper business insurance when starting a apparel shop business. Risks and liabilities, such as damage to your property from fire or extreme weather events, accidents when walking through the store, or crimes like theft or shoplifting are all common in clothing stores. Clothing store insurance should be top priority.
Workplace Injuries – The Costs and Causes Infographic
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More than half of the nonfatal injuries reported in the workplace every year are caused by overexertion or falling. Those injuries cost companies billions of dollas each year.
View our Workplace Injuries: Costs and Causes Infographic below to learn more about how much money workplace injuries costs business every year and the most common causes to that you can protect your small business and keep your employees safe. Presented as an Infographic (created for bolt by Infographic World) to help you more easily visualize and retain this information.
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Where to Find Financial Grants for Small Businesses
Grants are available for businesses typically without the need to pay them back — unlike business loans. However, finding and qualifying for private or public grants can take a little — and sometimes a lot of — effort. The following five potential sources of financial grants for small businesses and entrepreneurs can help make this process easier.
What is Enterprise Risk Management (ERM)?
Risk is an essential part of operating any business. There’s no business today that’s completely risk proof. No matter what kind of business you’re operating, what types of products you sell or services you offer—there is some risk involved in the day-to-day running of that business. Most of the biggest risks to your profit potential are the ones you don’t even recognize for what they are. That’s why it’s so important to consider serious Enterprise Risk Management (ERM) procedures for your business as quickly as possible.
Restaurants: IRS Ruling Regarding Tip Reporting
If you run a business where tips are issued for services rendered, there are some new rules to contend in the coming year. Due to a recent ruling regarding tip reporting, the Internal Revenue Service (IRS) is proposing changes to the way tips are reported, and more specifically, the taxes imposed on tips. Service industries, such as restaurants and others with tips received regularly, should be aware of the new reporting system and make appropriate adjustments.
Household Appliance Repair Insurance
A household appliance repair business can be operated through a home-based business or by running a repair store. Regardless of your business location though, with a household appliance repair business you’ll repair your customers appliances, including refrigerators, dishwashers, washers, dryers, and more. Someone who is adept at fixing appliances will find household appliance repair to be a lucrative and rewarding profession. However, while you can run a successful business, you should also protect your business from risks associated with this line of work. Such risks include general liabilities, potential lawsuits following work you have done on your customer’s appliances, and everyday risks that most every business is exposed to like property damage or theft. Obtain proper household appliance repair insurance to offer your business the best protection available.
Preventing Phishing Attacks
Phishing is becoming more and more common on the Internet today. As it becomes more widespread, the risks associated with it are on the rise. According to a recent Proofpoint survey, 51 percent of the 330+ people who responded believed that their organizationwas the victim of a vicious style of attack called spear phishing within the last year. The question now is how to deal with them when they do happen.
Window Cleaners Insurance
If you have chosen to start a window cleaners business, you have chosen a profession that can be both lucrative and in demand. There is always a need for window cleaners, both for residences and businesses. While there is a long list of benefits to this type of business, there are also risks to be aware of. The most common risk of a window cleaner business is the risk of personal injury. Many times, you are standing on ladders or scaffolds in order to reach high-up and hard-to-get-to windows, and you risk personal injury. Protect this and other risks with window cleaners insurance.
Types of Window Cleaners Insurance
There are several types of window cleaners’ insurance policies for your business, which will provide ample coverage for the risks associated with your profession. The following insurance policies cover a wide range of risk exposures for your window cleaning business:
Window Cleaners General Liability Insurance
When deciding on business insurance for window cleaners, general liability is often the first type of policy you will come across. That is because general liability is also one of the most comprehensive policies there is. It will cover bodily injury, property damage, personal injury, advertising injury, and other liabilities that can come up when you operate a window cleaning business. For example, if while cleaning the windows of a customer’s business, you accidentally damage their property, the customer can sue you for damages. The legal costs of this claim will be covered if you have general liability insurance.
Window Cleaners Inland Marine Insurance
Your window cleaning equipment is expensive and it should also be protected from damage or theft. In order to do this, you should get an Inland Marine insurance policy. Inland Marine gives you the option of protecting your goods and equipment during transport, while they are in storage, and while they are in your van or on the job site. As a service professional, your equipment is extremely important and should be given this extra coverage.
Window Cleaners Workers Compensation
How to Keep Your Brick and Mortar Customers Safe
If you operate a business from a brick and mortar building — a local building as opposed to an online store — you have more to worry about than typical online businesses. As someone running a store or business with customers coming in, you are at risk for possible accidents, crimes like theft and vandalism, and damage or injury to your customers and their personal property. Fortunately, there are plenty of ways to keep your customers safe while they’re in your brick and mortar business.
How to Keep Your Brick and Mortar Customers Safe
If you operate a business from a brick and mortar building — a local building as opposed to an online store — you have more to worry about than typical online businesses. As someone running a store or business with customers coming in, you are at risk for possible accidents, crimes like theft and vandalism, and damage or injury to your customers and their personal property. Fortunately, there are plenty of ways to keep your customers safe while they’re in your brick and mortar business.
Crime – Ranging from vandalism to theft, there are a variety of crimes that can occur in your brick and mortar business. In order to keep your customers safe, you should take proper security measures. This includes installing a security alarm system and utilizing surveillance equipment, such as cameras and video recorders. Another great way to keep your customers safe from potential crimes is by having a security guard on the premises, who will keep an eye out for any suspicious activity.
Fire Hazard – All brick and mortar buildings, regardless of the type of business, are at risk of fire. You may sell certain items that are flammable, such as clothing items or merchandise containing flammable materials. Or, if a neighboring business has a high fire hazard, then that puts you and your customers at risk as well. Protect your customers from fire hazards by storing chemicals properly, keeping any combustible materials away from heat sources, and having fire extinguishers installed in your store. If you have more than one door to the outside, you might also need a special fire exit to get customers to safety.
Slips and Falls – A common accident that occurs in a brick and mortar building is a slip and fall. To reduce the risk of slips and falls and the potential bodily injuries that may be a result of such an accident, make sure to keep your store clean and organized. Don’t leave items in the aisles or walkways, keep cords out of tripping distance, and clean up spills immediately. Signs should be clearly displayed if the floors were recently mopped and are still wet.
Lighting – You may occasionally want low lighting to create ambiance, depending on the type of business you run, but this can also be hazardous. Improper lighting leads to a higher risk of accidents in the store because they were not able to see aisles clearly as well as increasing the risk of thefts and other crimes. A brightly lit building will reduce this risk and keep your customers safe.
Signage – Signage is always important, whether it is to place signs on automatic or push doors, or when the floors have recently been mopped and are still wet. Be sure to place proper signage throughout your store near the fire exit, in areas where customers should not be (such as where chemicals might be stores), in areas with flammable materials, and anything else you think your customers will find useful.
Security – Lastly, you should have proper security in your brick and mortar store. Keep a small amount of cash on site and in cash registers, and post security guards at the entrance and exits of your building. Have a manager walk around with employees when transferring cash to deter thieves from stealing during this time. Be sure armored trucks are out front for picking up cash. This protects customers by reducing the risk of theft when shoplifters and thieves know you have proper security.
There are many benefits to running a brick and mortar store, but you should also be concerned with the consequences. Keeping your customers safe should be a top priority and business insurance for those events you can’t prevent is strongly recommended.
