For a new business owner, there are many things to think about before you open, such as which business insurance policies in Boardman you’ll need to protect yourself and your business.
Why do I need commercial insurance?
The short answer is to protect your property and your savings, both business and personal.
And for certain businesses, being licensed and legally permitted to work requires having particular insurance policies in place. Business insurance policies in Boardman can help cover the expenses of property damage and liability lawsuits.
Covered expenses could include:
- Attorney fees;
- Court costs;
- Settlement and judgments;
- The cost to repair or replace property.
Do You Need Business Insurance Right Away?
There are a couple of reasons you may want to consider getting commercial insurance when you start a business. The first is that your homeowners’ or renters’ insurance does not provide enough protection, and the second is that it’s generally inexpensive.
If you work from home, chances are your renters’ or homeowners’ insurance won’t cover you for accidents that are business-related. For instance, if a customer visits your home office, slips on something, and sues you for his injuries, your homeowners’ insurance may not help. Business insurance policies in Boardman are designed for these types of scenarios.
4 New Business Insurance Policies in Boardman You Should Consider
When starting a business, these are the four policies that will benefit you the most.
1. Business Owner’s Policy: This is the key player – a Business Owner’s Policy combines the protection of Property Insurance and General Liability Insurance into one handy, discounted bundle for low-risk small businesses. It can provide coverage for:
- Third-party lawsuits over property damage;
- Third-party lawsuits over bodily injury;
- Immediate medical expenses for third parties injured on your premises;
- Theft, destruction of your business property, or vandalism, including buildings, supplies, and equipment;
- Product liability lawsuits.
2. Errors and Omissions Insurance or Professional Liability Insurance:
These are fundamentally the same policy but referred to by different names in certain industries. This is important insurance if you offer professional services because it provides coverage against claims that you failed to provide adequate service or made mistakes. Professionals that typically carry this coverage include:
- IT professionals;
3. Cyber Liability Insurance: This is a rapidly-growing area of worry as more businesses become targets for cybercriminals. If you collect a lot of sensitive information about customers, you may want this coverage in case of a cyber-disaster.
4. Hired and Non-Owned Auto or Commercial Auto Insurance: Just as your homeowners’ insurance probably won’t cover business-related accidents, your personal auto insurance probably isn’t adequate either. If you use a company vehicle – or your personal vehicle is your company vehicle – consider Commercial Auto Insurance. If you rent or lease a vehicle for use or your employees use their personal vehicles for work-related tasks, you might want to look into Hired and Non-Owned Auto Insurance for protection.
This isn’t a comprehensive list of business insurance policies Boardman – just the ones most likely to benefit a new business. Contact us today to discuss which type of exposures your business has and the type of policies you need for protection.
Taking the time to review your commercial insurance policies in Alliance is something you probably think you don’t have time for or just have no interest in doing it. But if you just let it renew automatically each year and don’t have a complete review with your agent, you could be paying too much, be underinsured, and put your business in unforeseen financial risk that it may not be able to survive.
The time when you have to file a claim is the worst possible time to learn that you don’t have enough coverage on your commercial insurance policies in Alliance. Keep in mind that when your business changes, so do your risk.
Here are some examples of how your commercial insurance policy changes as your company change.
Decreasing/increasing the number of employees you have. When there are changes in staffing, it means that’s your workers’ compensation insurance needs to be adjusted accordingly. If you are growing and moving into a larger space or you are downsizing and moving into a smaller space, your commercial insurance policies in Alliance will need to be adjusted.
Adding new commercial vehicles. When you first started your business you probably had just one vehicle that doubled as a work truck and a personal vehicle. But as you grow and have more employees driving and new vehicles were purchased, they would need to be insured through your commercial auto policy. Those vehicles should have been added to your policy when you purchased the vehicle(s) but if some time has passed and your drivers have good driving records, you could be eligible for new deductions.
Your business has grown at a favorable rate. The more work you complete, the more your risks are elevated. You should increase your liability coverage so you don’t pay more out if someone is using your company or an injury occurs on your property.
Major changes in ownership. If a partner quits or passes away, you are bringing in a new partner, or when ownership changes in any way, your policy needs to be updated to add/remove names on the policy so that no one is hit with unexpected liability.
You’ve started using subcontractors. It’s important to be aware of your legal liabilities to your subcontractors and in the case of any injury, you could be at risk. Make sure that the subcontractors you use have their own insurance policy so that they are responsible for any damage and/or injury that may happen so you won’t be responsible for the costs incurred.
We realize that dealing with insurance can feel like a chore and you probably don’t look forward to it. But keep in mind that conducting at least a review of your commercial insurance policies in Alliance annually can help you save money in the long run in the event of claims due to the adjusted/added protection it offers. Also, as your business changes, you may be eligible for larger discounts that will help your bottom line.
If you haven’t conducted a comprehensive review of your commercial insurance policies in Alliance this year, please contact our office today and our agents will be happy to explore how we can better protect your business.
You can call your cable or cell phone company in an attempt to negotiate a better rate, but can you do the same thing with your Ohio car insurance? Keep reading to find out everything you need to know about negotiating with your car insurance company for lower rates.
Yes, It’s Possible to Negotiate Lower Ohio Car Insurance Rates
You can find plenty of stories online about people contacting their car insurance companies in an attempt to negotiate lower rates. Doing so is similar to negotiating a lower rate with any other service provider – you contact the company, explain the situation, and hope for the best.
Just like with other services, your chances of negotiating a lower rate are better if you are a higher-value, longer-standing, customer. For example, someone who has been with a car insurance company for 15 years and has multiple auto and home insurance policies with the company, is in a better position to negotiate a lower rate.
Tips for Negotiating Lower Ohio Car Insurance Premiums
Be polite but firm. Few people have had success with contacting a car insurance company and making a demand for lower premiums. Most negotiation guidebooks recommend a polite but firm approach.
Be persistent. Most car insurance company agents will deny your request to lower insurance premiums at first, so be persistent with your request. Keep at it and make a strong case.
Research comparable policies. In some cases, you’re simply not entitled to a discount. So try to find comparable car insurance policies at a more affordable price. If you can’t find a cheaper policy, you might already be paying a great rate.
Research scripts online. You can find various scripts online that explain how to negotiate lower Ohio car insurance premiums, including exactly what you should say to boost your chances of getting a discount.
Inquire about additional discounts. Inquire about discounts for renewing your policy, for example, or for prepaying for the whole year upfront.
Ask about renewal or bundling discounts. An insurance agent may be more agreeable to your car insurance negotiation attempt if you ask about bundling policies such as adding a home insurance policy.
Be sure you understand your current policy. Take the time to review your current insurance policy before trying to negotiate a better deal.
Request a higher deductible. One of the easiest ways to get a discount on car insurance premiums is to raise your deductible. Raise your deductible and instantly lower car insurance premiums.
Ask about changing your policy. For example, you might want to discontinue roadside assistance if you already have a separate AAA membership.
These are just some tips, but why bother trying to negotiate a better rate yourself when we can do it for you? We can shop all the available sources for Ohio car insurance to get you the rates you deserve! Contact us today to get started.
When it comes to life insurance in Ohio, custom-fit is always so much better than cookie cutter. That’s because all of your plans, including kids, likely retirement age, debt, mortgage balances and more, all play into how long you need insurance coverage.
What is the term length?
Term life insurance is one of the easiest and most affordable types of life insurance in Ohio. This type of policy provides coverage for a set period of time, usually 10, 15, 20, or 30 years.
The amount of coverage and term length you select will have a direct effect on what your monthly or annual premium will be. And while your financial condition will decide what amount of term life insurance coverage you should buy, factors such as the age of your children, how much is remaining on your mortgage, and the amount of your debt will help determine the term length.
So, is 20-year term life insurance in Ohio right for you?
If any of the following statements pertain to you, the 20-year term length may be your best option.
You have young children. Life insurance is there to help make sure your loved ones are provided for in the event of your death. Many parents hope to support their children financially into young adulthood or pay for their college expenses. If your youngest child is a toddler, you have about 20 years before he or she graduates from college.
You have less than 20 years to make mortgage payments. A life insurance policy that covers the remaining amount and term of your mortgage can help your partner keep affording the mortgage.
You have debts that will be paid off within a 20-year timeframe. Depending on the type of debt you carry and your state’s laws, your partner may be responsible for paying the debt that is left behind. These debts often add up to a sizable bill for the surviving family to handle alone.
You’re retiring within 15 or 20 years. Sometimes a life insurance policy becomes less important once you’re no longer supporting a family. If your children are financially independent and your spouse or partner could live comfortably on their own, a life insurance term longer than 20 years might not be needed.
You expect to be self-insured in 20 years. One of the greatest advantages to term life insurance in Ohio is that it holds you over until your safety net is in place, for a potentially very low cost.
You’re on a tight budget. Balancing long-term protection against immediate requirements can be a challenge for families on a strict budget. A 30-year term length will provide more extended protection, but the annual costs can be considerably higher.
A 20-year term life insurance policy can save you money over other options – such as a 30-year term length – which might be part of the reason why 20 years is the most popular term length. It’s is a solid choice for many families and can be part of a well-planned financial future. Obtaining the coverage you need is a solid goal to keep in mind when researching insurance policies.
If you have questions regarding which term length of life insurance in Ohio is right for you, contact us today. We’ll help you get the insurance you need at the right term length to keep your family protected.
Whether you believe it or not, you can actually tackle that DIY project you love on Pinterest. And what’s better, it could save you money on your home insurance in Ohio.
Home improvements, whether it’s regular repairs or remodeling to sell are part of being a homeowner. With the creative help of sites like Pinterest, it has become an even more attractive option to take on a home improvement project rather than calling in a contractor.
With proper guidance and preparation, homeowners can take on some of the biggest DIY projects without impacting their pocketbooks. Today we’re looking at some of those projects and how they can lower their home insurance in Ohio.
Heating, Ventilation, and Air Conditioning (HVAC): Updating and keeping the HVAC system in good working condition can reduce homeowner’s insurance premiums. A good rule of thumb is that if a system is more than 10 years old, insurance premiums are likely to rise.
Over time, the insulation on outdoor air conditioner lines can age, wear and eventually begin to rot. This can cost the homeowner valuable energy. A great DIY project for air conditioner repair is replacing the rotten insulation.
Roof Improvements: With the risk of damage from natural disasters and weather, the roof is one of the most important components of the home that needs to be maintained. If you live in an area known for severe weather, homeowners should invest in impact-resistant roofing. This can cut the cost of home insurance in Ohio as much as 30-40%. While many roofing repairs are best left in the hands of the experts, some repairs such as fixing a roof that has been damaged by a fallen tree can be a DIY project.
Pool and Fence Safety Improvements: Erecting a fence around the swimming pool is not only a smart insurance saver, in some states, it’s a requirement. In addition to the insurance advantage, this security measure protects the homeowner and neighbors because it decreases the chance of someone wandering into the yard and falling into the pool. And that can be a lawsuit waiting to happen.
In addition to increasing your insurance coverage and building a fence around your pool, you should keep it drained or covered when not being used. Fences also help lower the cost of home insurance in Ohio by acting as a barrier to vandalism or burglary.
Focus on Security: There are several improvements homeowners can perform for the purpose of enhancing security, many of which will lower insurance premiums. Following are some examples.
- Installing home sprinkler systems and smoke detectors.
- Installing shatterproof windows instead of standard window panes.
- Putting in motion-sensor lighting.
- Making sure all electrical wiring is up-to-date. Insurance companies pay particular attention to electrical wiring because it makes homes less likely to experience an electrical fire.
- Leak detectors can warn homeowners of plumbing failures by using battery-operated or plug-in temperature sensors to detect furnace breakdowns which lead to frozen and bursting pipes.
- People with homes in areas prone to severe weather can put up storm shutters, which can save the homeowner up to 30% on that portion of the insurance premium.
Before attempting any DIY improvement projects, homeowners should consult with their insurance provider for expert advice. There’s no point in wasting a lot of money if it won’t actually reduce your home insurance in OH. To be sure you have the coverage you need to protect you and your home, contact us today to get started.
Refer A Friend
Request a Quote
Why Choose Us?
Meet The Team
- Own a home that is less than 20 years old that is well maintained?
- Have a clean driving record?
YOU MAY BE ABLE TO SAVE UP TO 30% WHEN YOU COMBINE YOUR HOME & AUTO WITH SANOR INSURANCE