So, you’ve built your business from the ground up, spent years nourishing it as if it were your own child, but not insured it. With no insurance in place, something you’ve spent so long working on could be gone in the blink of an eye. To prevent something like that from happening you always need to prepare for the worst, which is why I’m here to tell you how life insurance can … [Read more...] about Insure to Assure: How can Life Insurance Protect Small Businesses?
Insurance
Insurance is one of the most important considerations of small businesses and home-based businesses It is a financial tool to help you manage and minimize the risks to your business. Risk management is a planned approach by business owners to avoid losses of assets, lawsuits, or losses of earning power.
The lack of the right insurance coverage can put you out of business overnight. In some types of industries, being insured is a signal of reliability and trustworthiness, helping you win more clients.
It takes good planning to determine what insurance is necessary to minimize your risks and protect your business. Learn the various types of insurance to help you determine the right insurance your business needs.
What are Performance Bonds? Here’s All You Need to Know
If you are bidding on a government or commercial project, there's a good chance you'll be asked to provide a performance bond. This is essentially an insurance policy that guarantees that the contractor will complete the project at the agreed cost, and before the agreed deadline. If they don't, the bonding company will pay for any damages. If you don't know what a … [Read more...] about What are Performance Bonds? Here’s All You Need to Know
Running A Boat Rental Business: Are You Liable In Boating Accidents?
Reports of boat accidents in the United States (US) have been quite frequent of late. In the year 2020 alone, the U.S. Coast Guard reported that there were a total of 5,625 boating accidents in the entire country. As a result of these accidents, 767 people died as a result and 3,691 were injured. It also resulted in property damage amounting to around USD $62.5 million. If … [Read more...] about Running A Boat Rental Business: Are You Liable In Boating Accidents?
Cyber Liability Insurance: 4 Things Business Owners Should Know
Cyber Liability Insurance is a policy that covers the costs associated with online loss of data and sensitive information. The costs include fines, notifying the affected customers, investigation, data recovery, and loss of income from a data breach incident. Data loss occurs through cyber security breaches or cyberattacks. When you’re in business, you need to … [Read more...] about Cyber Liability Insurance: 4 Things Business Owners Should Know
4 Ways Burial Insurance Can Benefit Your Business
As you run your business, you must understand that death is inevitable. Whether it’s 20 or 40 years from now, the day will come when you’ll finally breathe your last. Thus, you have to plan for your demise so that your loved ones don’t have to bear too heavy a financial burden. One way to do so is to take out burial insurance. What’s great about this policy is that it can be … [Read more...] about 4 Ways Burial Insurance Can Benefit Your Business