| Message |
Author |
|
 Posted: Mon Mar 22, 2010 9:06 am Post subject: Small business insurance risks |
|
|
We're considering different ways to start a small business. What could be the different areas that we need to cover in order to stay protected?
_________________
Register Now to have your Insurance queries solved. |
|
Belmontcrew
Guest
|
|
| Posted: Fri Mar 26, 2010 11:45 am Post subject: |
|
|
| Get yourself a personal property insurance policy. This would protect your furniture, equipments, stocks and fixtures. You will also need a building insurance policy. Make sure that you have the fire-n-extended coverage to the proper limits. |
|
steven
Senior member
Joined: 02 Feb 2006
Posts: 1553
215.66 Dollars($)
|
|
| Posted: Sat Mar 27, 2010 4:58 am Post subject: |
|
|
I guess it depends a lot on the nature of business. Not all businesses would need every form of insurance coverage. But, if you need employees to work with you, you'd certainly need Workmen's compensation insurance.
_________________
Insuranceguy.ampminsure.org |
|
Juanita
Moderator
Joined: 04 May 2007
Posts: 735
Location: Idaho
137.01 Dollars($)
|
|
| Posted: Sat Mar 27, 2010 7:32 am Post subject: |
|
|
Hi, please don't overlook your ACs, compressors, boiler etc. I'm sure you'll get them covered under a machinery & boiler policy.
_________________
Register Now to have your Insurance queries solved. |
|
Plasticmind
Guest
|
|
| Posted: Mon Apr 12, 2010 11:47 pm Post subject: do you need insurance |
|
|
Hello
This is a message to all company or people round the golbe world that need insurance for there business and companys.T G M insurance company belive that everybody need insurance to devolpe there business and companys.so that is why we contact all companys that need insurance for there business and companys tO devolpe.if you want to have insurance with our company you are free to e mail us and tell as more about your company or business you are doing we belive in business becasue it devolpe countrys.
THANK YOU (link,name and phone number deleted by Moderator InsTeacher per Terms of Use plus bad spelling skills)
_________________
Register Now to have your Insurance queries solved. |
|
tineke
Guest
|
|
| Posted: Tue Apr 13, 2010 2:01 am Post subject: |
|
|
steven- NO NO NO NO NO on THIS-->
| Quote: | | Get yourself a personal property insurance policy. This would protect your furniture, equipments, stocks and fixtures. |
This would NOT be a personal insurance policy, it would be a commercial insurance policy package or a Businessowner's Policy (a "BOP"). Personal lines contracts are for personal needs, like your home, car, boat, etc. and not for business insurance needs. I think you know that and mis-wrote...I think.
Every stinkin' personal lines contract has boatloads of exclusionary language about business risks covered (or not covered) under your auto and homeowner policy and most business exposures aren't covered...period.
There are 1,000 different ways to cover business exposures. The standard commercial policy package (CPP) contains at least two of the following package coverages. Keep in mind that it can't be a "package" unless there's at least two coverages included.
The Insurance Services Office (ISO) design the CPP forms and a package has to contain two or more coverage parts as stated above. They have forms and endorsements that are found in just about all insurance policies as well as those that are particular to commercial insurance. The coverage forms available include Commercial General Liability (CGL) which include BI and PD liability coverage and Products and Completed Operations coverage, commercial property, crime coverage, "Boiler and Machinery" (now called "Equipment Breakdown") coverage, farms, commercial auto enterprises and a bunch of other stuff. I must admit I went to ISO for some of this.
You obviously have to get liability coverage, so the CGL is a must as one of the coverage forms. The commercial property forms can be for both real and business personal property and a host of other things. Crime coverage can be confusing, as well as "garagekeepers" vs. "garagekeepers liability."
Smaller, non-threatening business might be eligible for a BOP. Think of this like a homeowner policy; it's a package of coverages in one policy. When you buy a CPP, it's on an "ala-carte" basis; you pick and choose the coverage you want and/or need. With a BOP- it's all included and looks remarkable like a HO form in many respects.
Does this help?
InsTeacher
 |
|
InsTeacher
Moderator
Joined: 13 Aug 2007
Posts: 1343
Location: Oregon, USA
119.93 Dollars($)
|
|
| Posted: Thu Apr 29, 2010 11:05 am Post subject: |
|
|
| Quote: | | You are thinking right! though i am a new bie as far as insurance is concerne, and i am learning daily something new. Landlord insurance serves to protect landlords during circumstances where they are prevented from using their property to earn an income. |
can you elaborate a little more? i mean what kind od business you are getting into, with that information we will be able to guide you a little better, coz most of the general ideas are already shared by seniors here |
|
goodyphilips
Preferred member
Joined: 12 Jan 2010
Posts: 190
18.98 Dollars($)
|
|
| Posted: Thu Apr 29, 2010 3:18 pm Post subject: |
|
|
If you are going to have employees working for you then you should consider taking out employers' liability insurance.
This will cover you against claims made against you from your employees. (link removed by Moderator InsTeacher per Terms of Use) offer competitive rates.
_________________
Register Now to have your Insurance queries solved. |
|
Balrog92
Guest
|
|
| Posted: Mon May 03, 2010 11:44 pm Post subject: |
|
|
Well Balrog92, anyone who employs others in his/her business in the US actually needs "Workers' Compensation" insurance. The policy includes "employer's liability" (Part II) -- but that is primarily for third-party claims, not usually the claims of an employee.
Third-party claims can involve customers who are injured as the result of an employee's negligence. They can also involve persons who suffer "tort losses" as the result of an employee's workers' comp injuries, such as a spouse or children (but not including loss of income which is covered as a "statutory" claim).
Employer's liability also protects in the case of "third-party-over" damages. This can involve an employee who suffers losses not compensable under workers' comp due to things like equipment owned or leased by the employer which malfunctions or breaks (a forklift's steering mechanism breaks causing the equipment to crash into an employee's auto in the parking lot or a faulty exhaust from a factory paint booth spews paint on everyone's cars in the parking lot (both events actually happened at one place I worked 25 years ago).
_________________
CA-licensed P&C Broker-Agent and Life Agent. CA Insurance Lic #0596197. Now investigating insurance company abuses, and providing litigation support and expert witness services. Send me your questions, and I'll send you my answers. |
|
MaxHerr
Moderator
Joined: 29 Nov 2009
Posts: 4615
Location: Pomona CA
208.52 Dollars($)
|
|
| Posted: Wed Mar 09, 2011 7:34 am Post subject: |
|
|
| The list is unending..it actually depends on the kind of business you are getting into....different situations have different demands.... |
|
KateB
New member
Joined: 09 Mar 2011
Posts: 5
1.30 Dollars($)
|
|
| Posted: Thu May 19, 2011 7:02 am Post subject: |
|
|
Hi
I completely agree with all.
Business ideas are all around you. Businesses don't just occur. They are made and so it all depends on what type of business you are going to start.
As far as the matter of risk is concerned. Risks are in every field. It’s up to you how you handle and deal with them.
_________________
Loss Assessors |
|
meenakshidpfoc
Member
Joined: 18 Mar 2011
Posts: 55
6.51 Dollars($)
|
|
| Posted: Tue Aug 23, 2011 1:21 pm Post subject: mJnWxtlavrHLgqnG |
|
|
A rolling stone is worth two in the bush, tahkns to this article.
_________________
Register Now to have your Insurance queries solved. |
|
Chartric
Guest
|
|
| Posted: Fri Mar 16, 2012 3:16 pm Post subject: |
|
|
Before going to start small or large business, you have to look into plans which are beneficial for the company, and will put you in a safe zone.
It is quite important for us to understand significance of insurance plans as it protects each aspect of business and we can feel free from any sort of troubles while running our business.
it is easy to buy insurance for the small business now days, as lots of sites providing free insurance quotes to meet our requirements.
Find best suited plan by means of searching, and stay protected so as to find a easy way of competing with other companies.
_________________
commercial insurance |
|
stevenricherd
Member
Joined: 03 Mar 2011
Posts: 96
7.39 Dollars($)
|
|
| Posted: Thu May 03, 2012 5:52 am Post subject: small business insurance |
|
|
Thanks for information about small Business insurance.. I want to more information Small Business insurance – It is a package policy protects against losing to the building, computer etc, small business insurance, business owner insurance, small business liability insurance, insurance for business owners. you can also visit on site
[Link removed - Admin] |
|
katrinawatson650
New member
Joined: 01 May 2012
Posts: 13
Location: 845 Third Avenue 6th Floor
1.92 Dollars($)
|
|
