Business Insurance ? And What You Need To Know
Getting your business up and running is exciting, challenging and hard work. You're finally making money - and you are the driving force that is making your business grow. But have you taken care of the "What ifs". Like - "What if I get sick, how do I pay my bills" or "What if I have a fire, how do I keep my business running". Simply put, the one thing you do not want is to have the business that you have labored so tirelessly on, hit a financial snag.
If you are a sole proprietor or a partnership - both your business and personal liabilities are at risk. Do you think you're safe if you incorporate or have an LLC? Many are misled into believing this is so, however, you too can become personally liable if you sign a personal guarantee on a loan, personally injure someone or act irresponsibility. As you will see, owning business liability insurance can and does protects your business and personal life from financia ruin. My discussion here will be limited to Business Interruption,Overhead, Umbrella Liability and Liability Insurance - explaining what these four types of insurance are, and what they can offer you and your business.
Business Interruption Insurance
Business Interruption Insurance helps to insure against any economic losses that you may encounter if something should happen to close down your business. For example, you have a fire in your corner of the house - your business office. Your home is covered for property damage - thus, the rebuilding is covered, however, what about the lose income you're losing while you rebuild? That's where Business Interruption Insurance can come in to play.
Overhead Insurance
There is one type of business insurance that you may want to consider when your business is making a good profit, and that would be Overhead Insurance. Overhead Insurance covers rent, salaries, utilities, insurance premiums and/or interest payments that are related to the business - this type of insurance would cover you in case of a major illness or accident.
Umbrella Liability Insurance
Umbrella Liability Insurance is used for catastrophic losses. This will protect you in the event someone wants to sue you. An umbrella policy will upgrade your basic auto, homeowners or business insurance to cover these unforeseen events.
Liability Insurance
If you have people coming to your home-based business, than liability insurance may be something you should look into it. Liability insurance will cover you against claims made by others against you for injuries or damages that occurred on your property.
Yes, your homeowner's policy includes some liability insurance, but it may not cover you for liability claims caused by your business.
To conclude, life offers many unexpected turns in the road - and basically, that's what all insurance does - it protects you against those unexpected bumps in the road - and keeps you moving toward your goals with only limited stales. Personally, I believe I can deal with a small bump in the road better than a complete halt in business. How about you?
To your success.
Vickie J Scanlon has a BBA degree in Administrative Management and Marketing. Visit her site at: http://www.myaffiliateplace.biz for free tools, articles, ebooks, how to info, affiliate opportunities, services and products - to meet your budget and needs.
Latest News
 Boston Globe | Health Insurance Trade Group Proposal Praised By Sen Kennedy CNNMoney.com - WASHINGTON -(Dow Jones)- A proposal unveiled Wednesday by the health insurance industry would provide universal health coverage and hack away at medical ... Insurers announce health reform proposals Insurers like Obama health plan, with reservations Insurance industry positions itself for the fight ahead |
 WNCT | Insurance rise at coast could help protect plan Forbes, NY - By GARY D. ROBERTSON , 12.03.08, 11:58 AM EST Property owners in 18 coastal counties soon will pay more for insurance premiums through a state-sanctioned ... Insurers Urge Surcharges, Reforms to Fix North Carolina Beach Plan Insurance rise at coast could help protect plan Coast's risks may sting state |
70 Percent of Cruise Insurance Claims Occur Prior to Cruising ... MarketWatch - DANBURY, CT, Dec 03, 2008 (MARKET WIRE via COMTEX) -- According to iTravelInsured, 70 percent of all cruise insurance claims occur before you begin your ... |
NIIT Technologies Announces Key Appointments to Insurance and ... MarketWatch - Goutam Kundu, an Insurance industry specialist joins NIIT as Global Practice Head - Insurance Vertical. In this role he will work closely with the sales ... |
Convergence of Negative Economic Factors to Severely Test US ... MarketWatch - These factors will force insurance carriers to adopt new skills and business discipline in order to survive the economic turmoil, according to new research ... |
Life Insurance Patent Issued for Future System Advisors, LLC MarketWatch - The FSLM is an entirely new form of life insurance that solves many of the problems caused by traditional product chassis, such as UL and VUL RGA Financial ... |
AM Best Affirms Ratings of Universal American Corp. and Most of ... MarketWatch - The rating affirmations reflect Universal American's improved statutory operating results and growing regional presence in the senior health insurance ... Best's Review Examines Insuring Railroads' Huge Risks |
DTRIC Insurance Company in Production With DRC's DecisionMaker for ... MarketWatch - (DRC) today announced that DTRIC Insurance Company is now in production with DRC's DecisionMaker Policy Administration System. ... |
Sheboygan Falls Insurance acquired The Business Journal of Milwaukee Bizjournals.com, NC - Sheboygan Falls Insurance, which operates only in Wisconsin, underwrites a broad line of personal lines products, including auto, homeowners, dwelling fire ... |
 Salem-News.Com | Nurses Reject AHIP Proposal as a 'Marshall Plan for Health Insurers' MarketWatch - DeMoro noted the precarious position of these insurance corporations. CIGNA's stock has fallen by 78 percent, from a 52-week high, while Humana stock has ... Nurses Reject AHIP Proposal as a 'Marshall Plan for Health Insurers' New Report Shows Slower Premium Growth, But Increasing Pressure to ... |
Resources
-
The Secret Information Site
"
-
Pet Insurance
Discover the secrets that pet Insurance companies don't want you to know.
-
Safety Employment Safety Jobs
Jobs in occupational safety, Insurance loss control, health/environmental, etc.
-
Free Prescription Medicine at Medicine For Free - Home
Free Prescription Medicine is Available to those who qualify. Millions of Americans daily choose between buying food or medicine. This choice is often a life or death matter faced by those with no Insurance to cover medicine or governmental prescription a
-
Welcome to PMI Savings :: Save On or Get Rid of Hidden Mortgage Insurance
How to Cancel Pmi with Official Form.
-
Real French Life ebook
Real French Life eBook guide to schooling, Insurance, day to day life and more in France.
-
Sales Lead Generation. Health Insurance, Real Estate, Life Insurance, Mortgage Leads and MLM Leads
Sales Lead Generation for Pennies. Learn How We Generate Business Sales Leads using our Affordable,Proven Sales Lead Generation System.
-
Annuity Online Quote Annuities Fixed Variable Immediate Equity Indexed Annuity Retirement Planning I
Annuity annuities online quote comparison variable fixed annuity indexed retirement planning tax deferred immediate annuity investment retirement annuity planning Fixed Annuity Life Insurance Company Annuity Rate Comparison Variable Life Annuities Definit
-
Insurance Leads Generation
Insurance Leads Generation
-
Used Cars For Sale By Owner, Used Car Dealers, Sell Your Used Car Free, Auto Insurance, Financing -
Used cars for sale by private owners, sellers, sell used cars free, dealerships, used car finder service, used cars quotes, used car financing, and more.