In the good old days, selling depended on a mixture of boots on the ground and the circulation of ads and hard copy marketing materials. This tended to restrict most small businesses to selling locally. Insurance was therefore set up based on a domestic business model. Well that was then. Today a website can bring in customers from anywhere with access to the internet. Indeed, with SEO services working overtime, your business can be on top of the Google rankings and sell around the world. The only limits are on your ability to supply the goods to meet demand.
Something rather remarkable has happened to the world over the last fifty years. We started off with mainframe computers that filled suites of specially air-conditioned rooms, moved into systems for linking smaller computers together in networks, and now have portable computers and cloud services. Following this arc has been the decentralization of the IT services sector. In the early days, we were talking about big in-house departments to run the computers and write the software. If outside experts were to be called in, they were usually run by the manufacturers of the hardware or they were quite large organizations.
Getting by without small business insurance is possible but puts the small business at great risk. A small business owner cannot predict when or if an accident may occur or whether an employee may be injured? Doing without small business insurance may cost more than just the loss of the business. It may also cost loss of the home, any savings or retirement the business owner may have accumulated, or many other important losses.
Continue reading “Does My Business Need Small Business Insurance?”
There are numerous types of small business insurance that a small business owner can purchase in order to ensure adequate coverage for their small business, all of which depend upon the type of small business they maintain, the requirements of the business’ home state, and the specific needs of the small business. Listed here is a brief summary of some small business Insurance available on the market which may help when obtaining the correct small business insurance for all needs of the business.
There are so many different risks that small businesses face today. There are also many conceivable insurance coverages available for almost all situations. The price you pay varies depending upon your situation and your ability to find the right company, policy and price. You will be able to search competitive, reputable companies all on one website for your small business insurance needs right here on our website. You will find this a convenient and cost-saving method that will save you time and put your money where it belongs…in your pocket. Before searching for the “right” insurance for your needs, it is good to know what you are looking for to fit your business. The following is some of the home-business insurances available for you to consider:
When searching for your small business insurance needs, there are so many different types of insurance to choose from. It is very important to keep your business safe. Selecting the right insurance makes a huge difference for your small business protection. Our site strives to help small businesses manage risk by finding small business insurance quotes at affordable prices. The following are some insurance considerations for you to review.
A Business Owner’s Policy is always a good place to start. The Business Owner’s Policy (BOP) covers the minimum of general liability as well as property insurance.
Some jobs are more dangerous than others and, over the years, there’s been a debate about how to strike a balance between the duty of the employer to offer as safe a working environment as possible and the need to compensate anyone who is injured when that duty is breached. In the middle of the nineteenth century, a number of European countries began to introduce national programs to protect citizens who were injured at work. Rather than allow them to fall into poverty if, through no fault of their own, they were unable to continue working, a financial safety net was introduced.
For years, the small business market for health cover has been in serious trouble. Unless the small and medium sized businesses banded together into trade associations, they did not have the buying power to get better premium rates from the insurers. As a result, they often paid as much as 20% more than large businesses for their health insurance. Worse, with smaller numbers of employees, insurers were very quick to raise premiums if one fell ill. This forced up the cost and made it difficult to fund expansion of the business. New Mexico is now a view into what could be the future for all small businesses.
In the first few years, most business are struggling to survive. Even when trading conditions are good, there are many ways in which the business can fail. Starting up in this post-recession period makes the challenge to survive all the more difficult. Then comes the irony. Managing growth can be even more challenging because this often means additional investment at a time when the business does not have a sound financial base. So why should small businesses spend money they can barely afford on insurance?