We've said it before: the distinction between a small and large business is somewhat arbitrary. At what point in the business growth life cycle do you cross over? One way to answer the question is when your business no longer qualifies for a Business Owners Package Policy. The BOP bundles up several kinds of insurance protection in one policy. But as business become larger the risks they pose become more varied and difficult to address in one policy.
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With slippery floors, shop lifting or the use of seasonal employees who make errors in the effort to push for end-of-the year sales, your small business could be at a greater risk during the holidays than it is all year long. And many of these risks apply whether you have a brick and mortar store or if your business is totally online. Here are the top four major business risks that occur during the holidays and the protection your business may need.
Selling a business can be an exciting time, but there are a lot of details to consider to wrap up a business deal. Usually the owner is thinking more about the money involved or about the overall exit strategy. However, there is one area that is usually either the last thing on their mind or maybe not even on the owner's radar in the first place. That's the liability an owner may have after the sale.
With more people shopping for the holidays and businesses pushing for end-of-the-year sales, companies are more likely to face greater risks and exposure to potential lawsuits than any other time of the year. That's why it is important to consider those liabilities now and take precautions to protect your business with adequate insurance coverage.
Businesses change all of the time. Business conditions change all of the time. And as a business owner or manager, you need to make sure you always have protections in place to guard against any risks that may occur as a result of those changes. On a regular basis, you should have your J.P. Perry Insurance agent review your business insurance coverage to catch any exposure you may have. Here are some instances when it would be a good idea to revisit your business insurance plan and add to, or change, your coverage.
While everyone is concentrating on ways to save on homeowners' insurance, you'll still want to look at saving on your auto insurance also. With inflation, the rising cost of vehicles and even the rising costs of used cars, cost for transportation has never been higher. So it helps to try reduce the cost insuring your vehicles. But there are strategies you can consider to reduce your insurance rates, especially if you get help from your agent at J.P. Perry Insurance. Here is a list of cost cutting tips when shopping for auto insurance.
With the rising cost of homeowners' insurance, it is important to try to find ways to help reduce premiums. One of those ways could be through the use of technology. The advancement of technology has resulted in the creation of "Smart Homes" to handle various functions throughout a residence. These functions can provide another layer of of automated protections that could lower claims, and thus lower rates.
The recent impact of Hurricane Ian only added to the woes of the home insurance industry and unfortunately premiums are likely to rise even higher than the direction they were going previously. So in order to try to keep rates as low as possible, everyone should take a fine-tooth comb to their homeowners' policy every year to evaluate their coverage. There are several areas of an insurance policy that should be investigated for rate lowering strategies. Some of these include...
There are many online sites today where you can purchase insurance. While the rates may seem to be low and the convenience of a quick purchase is available, you could be making a serious mistake missing out the coverage you truly need. In a study conducted by InsightExpress and The Hanover Insurance Company, 60% of consumers who purchased insurance directly online within the last 10 years have switched back to using an Independent Agent to help them obtain their insurance coverage.
As you go through life, you will need to have various insurance coverage to protect the things that are valuable to you and your family. Your first experience with insurance coverage probably came when you purchased your first car.
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