Business insurance is a great way to insure the business or organization. It totally eliminates the possibility of a break down due to the chance of an area not being covered against any business risks that are unavoidable. Business insurance schemes are designed to protect a business from potential business risks that may emerge in time. There is the small business insurance coverage plan for the fledging company, which is easily available today. The cradle stage of such a growing company does encounter a series of obstacles that keep popping up, as the business staggers fro secure ground – on its way to infancy and progress.

Business Insurance for any business establishment enables the entrepreneur to eliminate the tension and worry that is natural while making yet another investment (insurance). The business liability insurance coverage plan includes a health insurance package too. The insurance is aimed at covering all areas of concern regarding the business’ responsibility towards clients and the overall performance through the difficult initial period. Business insurance works both ways. As the entrepreneur identifies a good agent who enable him or her to put together a lucrative multi coverage package for the venture, the agent also bags a higher commission for selling the multiple insurance policies.

Business insurance quotes are offered to prospective clients for the many different kinds of business-specific insurance combinations. They are all designed to ensure the survival of the business, against all odds. There are a number of business insurance groups that offer discounts in the case of the purchase of several insurance policies or packages for the organization. The discount and the investment are worth every dollar because every sensitive area of the business is covered via such schemes and 100% security is guaranteed. There are a number of insurance coverage ranges that offer effective coverage to the professionals as well as any physical injury.

The business income coverage scheme, which is a part of the business insurance policies offered today, is a real steal. The business insurance quote is always affected by the business need and preference. The business insurance quotes offer the prospective clients a glimpse of what the company is offering and most importantly, at what cost. A factor every businessman needs to research on is whether or not the insurance company can assure the timely delivery of the said coverage. It pays good dividends to conduct prior research on the insurance agencies tapped and get essential existent client feed-back. Comparison shopping for quotes helps a lot too.

The liability coverage package helps professionals like architects, accountants and bankers. These professionals deal with expensive legal services which show through the subsequent negligence or poor performance pattern while on a project. Business Insurance schemes that are planned for the small, medium and large business establishments are useful when the package covers theft and loss of essential data. There are business insurance plans that also include car insurance, to ensure a workable and lucrative coverage for the transportation of the business.

Business insurance has a very wide coverage scope and the quotes can be adjusted to suit the business specifics. The business insurance acts as a ‘fall back plan’, just in case the initial business scheme collapses. It enables a business to remain stable inspite of technical snags and these schemes are handy to maintain and not costly at all. The business insurance terms and coverage conditions can be better understood with a comparative study. A planned and well informed move towards covering the business with an insurance plan ensures better deals and consequently, better decisions.

The entrepreneur needs to look into the right insurance coverage(s) for the business, the areas that may be covered in the policies and the extras desired. Another important aspect is to study and calculate is the premium for the security offered, before you sign up for the services. This could save you a lot of tension. Business insurance can protect the venture from damaged merchandise and helps cover the incurred costs, to enable the business to flourish.

Company owners need health insurance for themselves and for their employees. Small businesses sometimes have difficulty finding decent health insurance plans for affordable costs. Here are some websites that can help you find the right plan. Not all plans are created equal, but one or more of these companies can help you find or tailor a plan to your needs.

At www.ehealthinsurance.com you can get quotes, compare plans, and apply online. They offer state specific information from a variety of carriers at no cost to you. This site is a one stop shop for you to look a several different coverage options.

On the www.netquote.com website, you will be able to request detailed information about group health insurance, general liability commercial auto, and worker’s compensation. They also offer information about coverage related to fraudulent employee acts, contractual obligations, and client financial loss.

Under the www.costco.com services tab, you can find small business health and dental insurance information. Coverage is available for Washington, Nevada, California, Oregon and Hawaii only.

Before visiting these sites for quotes, make certain that you are prepared to have the companies contact you. To provide you with accurate quotes, many of these companies will request specific information about the type of business, company annual revenue, and how many employees will be enrolling. Small business health insurance plans typically cover from 5-50 employees. There is typically no obligation, but you should know exactly what your needs are prior to leaving your information with one of these insurance companies.

Health insurance costs are growing for everyone, especially small businesses. Another option to consider is Health Savings Accounts, or HSAs. These accounts allow you and your employees to deposit savings tax free to an interest bearing savings account that can be accessed to pay for medical expenses. Money that is not used will automatically rollover for use in future medical expenses. HSAs are complementary to high deductible insurance plans, and are usually not stand alone. The Bank of America and Wachovia both offer HSA programs. Many other insurance companies you encounter during your search might offer an HSA as an addition to the plan.

As an employer, you can choose to pay for your employees’ health coverage in full or in part. Certain plans allow for workers to elect only certain coverage options, and pay a fee through payroll deductions.

Having health coverage is important for keeping employees active and healthy. Benefits like these increase the chances that workers will stay with your company long-term. Hopefully, you are more prepared in your search for the right coverage.

Key Man Insurance

If your business depends on a specific person to make it profitable, Key Man Insurance can help protect you. This key person could be your best salesperson, it could be the person who makes the goods you sell and it could be you, the owner. Key Man Insurance is life insurance that can help your business survive the loss of a key employee. That is, if your key person dies unexpectedly.

Why you need Key Man Insurance?

We don't like to think of coworkers or employees dying, but a little planning can save your business from a catastrophe. Ask yourself this tough question: If a key employee were in a fatal car accident tomorrow, how long would your business survive? Will the sales leads you have last six months, a month, a week, or even less time? Does your business completely depend on one person to run at all? Would any money come in without this person?

Just how much Key Man Insurance should you buy?

Without leads from your key employee, sales will dry up. You'll need time to find a suitable replacement who can keep your business thriving. If your key person is a salesperson, review your key person's performance over the past 12 months. Pay close attention to seasonal changes in sales and average out your sales throughout the year. You can then estimate the income that you will need to replace each month. Multiply that by your best estimate of how many months it will take you find a replacement. Add a few more months in case it takes longer to find just the right person to hire for your business. The new employee will have a lot to live up to, finding him or her may not be that easy. Make sure you buy enough Key Man Insurance to cover this situation.

If business will come to standstill without your key person, you'll most likely need to buy more key man insurance. Estimate your monthly operating expenses and sales. Include production, staff salaries and delivery of your product and your monthly income. Now determine what your goal would be when trying to replace this key person. Will you look for someone who can replace the key employee, or find a buyer for the company? Estimate how long you think it will take to accomplish your goal and multiply it by your monthly operating expense and income number. This should give you a good indication of how much Key Man Insurance you should buy.

Have your estimates ready when you prepare to talk to a professional about buying a Key Man Insurance policy. Your local licensed insurance salesperson can help you. Your salesperson can give you another perspective on how much Key Man Insurance you will need to buy. Your salesperson can compare your needs to similar customers and give you a higher comfort level when choosing how much Key Man Insurance to buy.

With just a little planning, you'll ensure that your business will survive the loss of a key employee.

To begin with it is important to remember that all types of business in the auto industry could be saving money on their Motor Trade Combined insurance and liability insurance premiums. From body repairers and MOT stations to paint sprayers and companies in vehicle sales, help could now be at hand.

And regardless of your companies size and budget, if you follow these very simple but extremely effective tips, your Motor Trade Insurance premiums could be lower than ever before. And all without having to sacrifice on cover, service and the excess or deductible you pay.

The first Motor Trade Insurance tip is therefore to use an insurance broker or insurance company who actually understands your needs. Buying a one size fits all insurance policy may save you a little time in the beginning when getting a quote but does it really give you the cover you need?

Ideally what you need to do is actually make sure you use a company or insurance broker who understands what you need, can offer you advice and guidance aimed at reducing your exposure to risk. These experts can be found and very often have access to policies, schemes and facilities that are simply unavailable from other insurance providers. They should also be able to tailor a policy to your specific needs whilst at the same time saving you money on your motor trade insurance premiums.

So if using a Motor Trader Insurance specialist is most likely to result in getting you the right insurance cover for your Combined Motor Trade Insurance for less, how can you find out who these Motor Trade Insurance specialists actually are?

The internet has made the job of locating experts or specialists in particular types of insurance much easier as a simple search using a search engine like Google, Yahoo or MSN is likely to yield a list of specialists for the type of insurance you are looking for. You do however need to be careful that the company saying they are experts for Motor Trade insurance is as there is no guarantee that they actually are.

It is therefore probably best to pick up the telephone and actually ask them a few questions. Asking them questions rather than waiting for them to ask you questions is a great way to establish if they really are experts and know what they are talking about. Things to ask might include asking which insurance companies they use and how long have they been providing motor trader insurance. If you do this then your chances of finding the right Motor Trade insurance for your business is likely to increase whilst at the same time your premiums actually come down in price.

Another tip that could help pay less for your insurance is one may not seem right at first but if you give it a go and there is every chance it may work. The second tip when it comes to saving money on your Motor Trade insurance is therefore to be totally honest when you are asked what premium you are paying for your insurance at the moment.

Most motor traders when asked such a question by an insurance company or insurance broker feel that they should not tell them or simply make up a price as they think they will not get the best price otherwise. The truth is you are far more likely to get the best quote if the company you are speaking to has a price to beat.

If you follow these 2 simple but highly effective tips there is a very good chance the price you pay for your insurance will come down in price. Give it a go and see if it works for you and make sure you pay less for your motor trade insurance in the coming year.

In these tough financial times everyone is looking to cut costs to save money, home owners to business owners all want to reduce their bills.

Everyday we are told that we all need to tighten our belts over the coming months and in such times of crisis insurance can often be the first expense to be sacrificed by small businesses often being classed as a necessary evil, an invisible protection they hope they will never need. What most business fail to appreciate is the protection that insurance provides to their business and for sole traders, their livelihood.

Many tradesmen in the UK are finding work is drying up, for others it is impossible to find. As their income dwindles, unnecessary expenses have to be stopped. So first to go is business insurance, predominantly public liability insurance. The premiums are low, but because it isn't compulsory it gets canceled. The car is still insured, the house and TV are still insured, even the mobile phone is insured, but public liability - what is that covering?

As it doesn't cover anything you can touch or see it's not important. Well, it is covering the one thing that paid for the car, the house and the TV, your assets, your income, your livelihood.

Trading without public liability insurance is risky for any business, but if you are a tradesman it is too risky. Even before the financial turmoil started it would have been foolish to enter someone else's property without liability insurance. Now, in the throes of a possible recession the already high risk is increased further.

Fraudulent claims increase when unemployment increases. Your "customer" may want a new TV or a new carpet but haven't got the money to pay for them.

You were there last week fixing the boiler and "you walked oil through our house" so they say and low and behold they make claim against you. Now you know you didn't do it but you are an easy target, a sitting duck. Who else can they claim from? They haven't got their contents insured because it was too expensive so you are their only option.

Whilst a claim against you will have to prove you are legally liable, would you want your reputation ruined?

This loss may only be small but if you did cause more damage, could you pay for it? Have you self insured? Do you have thousands in the bank for any claims that occur? Of course you haven't, no one does. Would you be able to continue in business if you had to pay thousands of pounds in compensation to a customer whose house you had damaged? You don't need to be in that position, just see insurance for what it is, not an unnecessary expense but a necessary business protection.

Public liability insurance isn't that expensive. So if times are getting tough, think before you cancel. The consequences could be far greater than you realize.

Legal fees and tenant lawsuits can be crippling to any landlord. Learn if landlord liability insurance is right for you and how you can protect yourself from any financially painful lawsuits. No matter how capable you are as a landlord, some nasty things are just plain possible to avoid if you are unlucky. One of them includes having your tenant sue you because they were injured due to any defects on your rental property.

When will Your Tenant be Able to Sue You for Their Injuries?

If you picked up the phone one day to hear your tenant screaming for blood and threatening to haul you to court, there are no need to panic yet. Just because he was hurt while living on your rental property doesn't that you are responsible for his injuries in the eyes of the law.

To begin with, you will have to be aware of the property defect that caused the injury. If you carry out your property inspections regularly and your tenant did not inform you of any property damages in advance, you will not be responsible.

Secondly you have to be responsible for the faulty part of the property that resulted in your tenant's injury. If your tenant was burnt while preparing lunch on his own defective gas stove, then it's no fault of yours. As the owner of the gas stove, it's his duty to make sure that it's in good working condition.

Your tenant also has to handle your furniture and appliances in the way they are intended to be used. For example let's say your tenant stood on your tiny coffee table to replace a light bulb. If the coffee table collapsed and he fractured his wrists, you will definitely not held responsible. In fact, he will have to pay you for another coffee table in this case.

However if you were sloppy in maintaining your property and your negligence caused your tenant to be hurt, you can sued especially if you were informed of the property damage well in advance and that damage is an obvious safety hazard.

How You will Benefit from Buying Landlord Liability Insurance?

If your tenant takes you to court, your landlord liability insurance will pay for any legal and courts that you rake up.

In case your tenant does win the lawsuit, your insurance company will be the one forking out money to pay his claims for medical bills, physical disability and loss in earnings during recovery. If his belongings were wrecked - For example your garage roof crashes onto his car, he will also be able to claim money from your insurance company to fix it.

For a greater peace of mind, choose a liability insurance that gives you wider safety net. It's a good idea to pick a policy which also includes protection against lawsuits due to illegal evictions, unfair treatment, slander or violation of tenant rights.

I will recommend every rental property to buy landlord liability insurance unless you are a skilled landlord who maintains your rental property flawlessly. If you have an understanding tenant and your property is in tip top shape, then perhaps you can also choose to skip on this type of insurance to cut costs.

Otherwise the financial blow that a tenant lawsuit can deal you is not something that most landlords can afford to bear.

Picture the scene, you run a small nursery or kindergarten and despite having a great reputation in your area you find the number of children attending your establishment and subsequently your profits falling. In many cases this is through no fault of your own as due to tax breaks or changing working patterns, parents can no longer afford to send their children to your nursery or day care establishment.

If this story sounds familiar and you are looking to save money on your nursery insurance premiums, the nursery insurance broker has produced these simple yet highly effective tips that could help make sure your nursery business insurance premiums do not increase and in many cases, actual fall.

The way most commercial insurance works is that businesses either approach a broker to source them the best deal or they instead they go direct to an insurance company. Each of these has their own benefits but top tip number 1 when it comes to saving money on your nursery insurance or business insurance is approach an insurance provider who specialises in the type of business you are looking for. For example, if you are looking for a nursery insurance quote then approach an insurance broker or insurance company who specialises in child care insurance. These can easily be found by searching the likes of Google or Yahoo for term like Nursery Insurance or Nursery Business Insurance. If you therefore want to keep your business insurance premiums under control, use an expert.

The final way which nurseries, kindergartens and child care providers can stop their business insurance premiums increasing is making sure they have an effective risk management system in place. Not only will this prevent potential accidents and therefore insurance claims which may see their insurance premiums increase but certain insurance companies will also reward you with premium discounts.

When you consider that simple slip and trip accidents account for a third of all report major injuries, having a system in place that could prevent or certainly reduce, such incidents occurring could have a major impact on what happens in your nursery and what you ultimately pay for your nursery business insurance premiums.

Making sure your nursery or other business premises is safe and secure is vital not only to the well being of your children, staff and visitors but also potentially to what you pay on your insurance premiums and ultimately your profits.

If you want your nursery, kindergarten or child care establishment to be as successful and profitable as possible follow these simple but high effective tips and stop your business insurance premiums increasing.

Firearms are dangerous and carry risks, therefore, insurance is always advisable. However, there are different types of coverage and not all of them are suitable for any situation. The difference between firearm insurance and firearm business insurance is based on the use that the weapons receive. Therefore, a business working with firearms should not be satisfied with firearm insurance and should get firearm business insurance too.

Simple firearm insurance protects the bearer from accidents and liability by damages produced with the gun. However, if the firearms are used as part of a business like in sporting firearm commerce or collector’s exhibitions, there is another kind of policy that needs to be purchased. Moreover, there are actually two different policies that are known as firearm business insurances.

Firearm Insurance

Firearm insurance protects the owner and or bearer of the weapon from damages caused by its use or misuse (depending on the extension of the insurance contract). The average policy includes only accidents caused by the use of the gun, however, some insurance policies may include other risks like damage to properties when using the weapon reasonably, etc.

Under no circumstances an insurance policy will cover for the illegal use of a firearm that results in damages to people or possessions. However, damages caused when using a firearm to defend oneself are usually covered by firearm insurance policies as the self defense is an exception that excludes the misdemeanor from most actions that would otherwise constitute a crime.

Firearm Business Insurances

As explained above, there are two different types of firearm business insurances. Neither of them has to do with actual firearm insurance and should complement it. These insurances protect the holder, user or transporter of any damages caused to the weapon or by the weapon under its commercial use. Since firearms can be used commercially in different ways, more than one insurance policy had to be created.

Collector policies are firearm business insurance that protect the owner against damages when the weapons are not fired or used. This includes the use of weapons only for exhibits, and needs also to protect the goods while they are in route to a show or exhibition against: fire, flood, theft, damage, explosion or other accidental damages that may render the firearm useless for the commercial purpose covered.

Sporting firearm business insurance, on the other hand, protects weapons that are used for competitive shooting, target shooting, hunting or any other LEGAL use that implies firing the weapons. It obviously protects both the weapons and other possessions and people from the damages caused by the firearms.

On both cases, it is very important to obtain, prior to the insurance contract, an appraisal of the firearm value, especially when the weapon is an antique. It is advisable to get it from a third party and not to resort only to the insurance company’s appraisal specialists even if your are asked to provide a value yourself for the insurance contract as price variations can occur and you should be protected of that too.

Lara Sawyer is a professional loan advisor who helps people to secure Unsecured Loans and Bad Credit Personal Loans. At www.fastguaranteedloans.com you'll find all of her tips on how to get approved without hassles.

How you secure insurance for your cargo can make a significant difference in the cost of the protection and the terms of the coverage that you receive. Here is a brief discussion of those options with the key points of comparison:

(1) Insurance can be obtained through a freight forwarder or customs house broker. Most of these companies have an in-house ocean cargo policy that is made available to their customers. This is a significant profit center for these companies due to the high mark-up charged to the shipper. These "all purpose rates" can be much higher than the rates for your specific shipment. Despite these issues, this is the preferred option for the small shipper with four or five shipments per year. Due to the minimum premium required for an "Open Cargo" Policy, this may be a more economical way to purchase coverage. But if a shipper does enough volume, the savings could be up to 50% of what he is currently paying.

(2) Insurance could be secured through the carrier shipping the cargo. Unfortunately, this makes the carrier the named insured, not the shipper. This protects the carrier not the shipper. If there is a loss, the shipper will need to file a liability claim against the carrier and their insurance company. And the insurance company will seek to protect the interests of their client, the carrier, not the shipper.

(3) Overseas suppliers might provide the coverage for YOUR cargo. This arrangement raises a number of significant questions. "Will the coverage be placed with a U. S. company, or will you have to collect on a claim in a foreign company?" "What perils are covered by the policy (All-Risk vs. Named)?" "What language is the certificate written in?" "Will you be paid in dollars or some other currency?" "Is the cost of the insurance passed on to you and if so, at what cost?" "What is the deductible?" "What are the exclusions and conditions of the coverage?" "At what point does the insurance coverage cease to cover your cargo?" Do not let the supplier make YOUR business insurance decisions. Do not relinquish control!

(4) Occasional shippers can purchase a Shipment Certificate. Although this is a more expensive way to buy coverage, it may be to be the most economical and efficient method for the small shipper.

(5) BUY YOUR OWN "OPEN CARGO" POLICY!
The cost of cargo insurance is small in comparison to the total cost of packing, handling, and shipping goods. Bypassing the middleman (freight forwarder, customs house broker, overseas supplier) can yield a huge savings in the cost of your shipping. You will be the insured. You will know what you are getting. You will have the right coverage to meet your specific needs. Your interests will be protected, not the middleman's interests. If you should have a claim, you are the insured and the insurance company who issued the policy has a vested interest in handling the claim promptly and fairly. Your shipments will be automatically protected with no chance of failing to insure a shipment. You will have a single point of contact for all of your cargo issues rather than having to deal with multiple coverages with different terms of coverage from different sources. You will be free of "GENERAL AVERAGE" claims. And if you don't know what that means, you need to understand this point before you have a major surprise.

You know that you need cargo insurance or you will recover very little for damaged goods. The question is, "Where are you going to get it?" The answer is at M. Silver and Associates.com.

If you have a question about cargo insurance or your need for cargo insurance, contact our cargo department by e-mail at cargo@msilverandassociates.com. To receive a cargo insurance quote, please download our Open Cargo Insurance Questionnaire.

Losing your business assets in a fire or other unforeseen event is a disaster, even if you're covered by insurance. If you're not insured, or if your policy is inadequate, that disaster situation could mean the end of your business. There's little you can do to solve the problem if you're not covered by insurance, so it's definitely worthwhile spending a little money now to save a big headache later on.

Before Choosing Insurance

Insurance companies tend to impose heavy requirements on businesses to make sure they take due care of their assets, both to minimize the risk and to reduce the possibility of fraud occurring where a company deliberately destroys assets to benefit from making a claim. Before taking out a policy, there are some important things to consider. For example, what exactly constitutes a business asset? Is your mobile phone a business asset? What about the chairs in your home office? Many small business owners don't give this enough thought, and small businesses are usually the ones hardest hit by losses for this reason.

To decide whether an item is an asset, just consider whether or not your business will be hindered in any way if the item should be lost. If you regularly meet with clients in your home office, losing those chairs might constitute a business loss. Once you've decided what your business assets are, they need to be evaluated so you can calculate a total amount to insure them for.

Another thing to bear in mind is that you ideally want an insurer who specializes in insuring the type of business you operate, and who understands the specific types of risks involved. If you're insuring heavy manufacturing machinery, for example, an insurer that understands the particular types of risks involved in maintaining and operating such machinery is important. Finally, try to have a goal when it comes to the premiums you want to pay. The amount you can afford might change with business or economic cycles, so it pays to have a figure in mind that you can afford whether business is good or bad.

Before Signing

Before you go ahead and make the commitment, here are some more things to consider:

* Read the documentation and look for clauses dealing with asset depreciation, exclusions, and faults. Make sure you understand exactly what's involved, particularly when it comes to depreciation of machinery and equipment.
* Take note of any insurance company requirements, such as specific security measures you must undertake. Following these to the letter is important because your insurer company will have sound cause to reject a claim, and courts will almost always side with the insurance company in cases where the claimant has failed to follow the policy requirements.
* Make sure you understand how the claims process works, including the length of time it takes to settle claims, and the types of documentation you need to provide when making a claim. This information is crucial to helping you minimize interruptions to your business if you have to make a claim.

Save time searching for leading business insurance providers online by searching the UK Insurance Index directory. You can find a comprehensive list of commercial insurers plus business insurance reviews submitted by real UK customers.

ealth insurance is a topic that never ceases to be discussed. The high cost of medical expenses will not let the topic die a comfortable death. There are a lot of people that have no health insurance and small business owners are in that number.

When every dollar counts, health insurance is one of the items that is frequently excluded from the budget of a small business. The owners just hope that nothing catastrophic happens until insurance can be budgeted.

The government and health insurance companies have been working for years to remedy that situation. As a result, a variety of health insurance plans are now available to fit any budget.

Robust Business

Insurance is formally defined as guaranteeing protection. That is what a small business owner needs – protection. Many small businesses are heavily dependent upon the owner remaining healthy.

What’s good for the goose is good for the gander. Employees need health insurance coverage also for their welfare and the welfare of the business. Maintaining a robust business means encouraging employees to care for their health. This is much more likely if they have health insurance.

Circular Logic

The options for health insurance have significant differences. The option chosen normally depends upon the cost of the plan and the level of coverage desired by the small business owner.

On the other hand, the actual level of employee utilization often determines annual cost for out of pocket expenditures. Following is a summary of the most common health insurance plans available for small business owners.


* There is health insurance coverage purchased by the company that covers the owners and the employees. This is the traditional fee-for-service. The dollar amount covered for health costs are determined by the amount paid by the owner to a provider based on the number of employees included in the plan. More expensive plans will naturally have lower deductibles and copays.


* In some states there are health insurance plans that cover the owner only. It is the perfect solution for small business owners, especially one with no employees except for the owner.


* Health Maintenance Organizations (HMO’s) are private insurers who limit access by members to designated services and doctors. The cost efficiencies are derived the careful control kept on reimbursable expenses.


* Insurance pools offer insurance to people considered high risk and that includes small business owners.



These are the major kinds of health insurance available to small business owners. Additional plans include a Preferred Provider Organization (PPO) or Point-of-Service (POS).

Choosing Coverage That Won’t Disappoint

When choosing a health insurance for you or your business, it is important to understand the level of coverage desired so you don’t under or overspend. Insurance contracts have a lot of fine print and it can be distressing to discover services you thought you were paying for with the monthly premium are not covered.


* If an HMO or PPO, make sure there are enough service providers in the area


* Make sure that the plan covers high maintenance diseases such as diabetes if possible


* Verify that the provider is reliable and pays its claims in a timely manner


* Have a clear understanding of prescription coverage


* Have a clear understanding of procedures that are excluded


* Decide if you want to include dental and vision coverage



It is important to shop around for coverage even if it is to cover only one person. There are a lot companies entering the health insurance market that are not credible.

Medical costs can literally bankrupt you or an employee if coverage is inadequate. It is worth spending the time to study the options so that there are no disappointments later.

If you own a business there is every chance you will try your very best to make sure it is run in the correct way. From employing the right staff to what service providers to use, you are faced with decisions at every turn to make sure your business runs smoothly and hassle free.

The trouble with running a business (and indeed life in general) is that the unexpected often happens and as a business owner it is your responsibility that if the unexpected does happen your business isn't affected too much.

And that is where buying commercial insurance for your business is so important.

Here are just a few examples of things that can happen to businesses and what might happen in the event of no insurance, the wrong insurance and right commercial insurance being in place.

Landlord Building Insurance Claim

You are a property owner with a portfolio of house, flats, apartments and commercial property. You have decided that the chances of anything happening to your new block of flats is pretty remote as they are currently empty so you have decided to either not insure them or you have not got around to telling your insurance broker.

Over the weekend your newly built and decorated flats are broken into and the brand new kitchen and bathroom suites are ripped out and stolen.

What happens now?

1. With no insurance you basically have to pay for everything
2. If you did actually get around to getting the flats insured but decided to exclude theft cover (what with no tenants and no furniture you may have done this to save some money). As the damage caused was as a direct result of theft then once again it is possible the damage costs will have to met by you
3. If you have correct level of landlord building insurance in place you ring your insurance broker, they hopefully sort the repairs and replacement of items with your insurance company and the flats are restored to their original state leaving you with just a small excess (or deductable to pay).

So for the sake of a relatively small landlord insurance premium you could be left with a bill for hundreds or thousands of pounds. Hardly worth the risk right?

So maybe you are thinking that if your have a portfolio of properties you would definitely make sure they are covered. What about if you just have one though and money is tight? There is every chance you might take the risk and either have no insurance or insurance that does not meet your needs.

People and businesses do it all the time. When money is tight a service like insurance is often the first thing to be sacrificed.

It maybe that you have just forgotten to renew your commercial property insurance or business insurance policy. With so many other things to think about that could easily happen.

Here is another example of a claim that could be made against you. You own a small business and need commercial property insurance for your factory. You know by law that employers liability insurance is needed so you always make sure this is in place. What about the factory though? The staff are all experienced, you have an alarm and people know what they should be doing (and more importantly what they shouldn't be doing). The risk seems pretty low so when a fire happens overnight you are left with the following scenarios:

1. With no insurance your business is potentially destroyed as the burden of starting all over again is with you
2. You actually just renewed your commercial combined insurance policy so you are covered. Well done. However to make your premium cheaper you decided on a very big excess (or deductable) and you decided against business interruption insurance. The result being that you are left in a position without the correct needed for your business to recover.
3. You got advice from your insurance broker, they discussed the cover you really need and they made sure your excess was at a sensible and affordable figure. The result is they act to make sure you get a interim payment on the claim and that your business continues – just for the sake of a small premium and excess.

Most people do not like insurance but for any business owner, business manager or person responsible for making sure the business is protection it really is a vital purchase.

Get the right business insurance cover and if a loss occurs you will know the business is in safe hands. Risk having no commercial insurance or not getting the right business insurance cover can leave you and your business with nowhere to turn. Is it worth the risk?

Depending on which part on the Motor Trade you work in you will no doubt have your own individual needs, concerns and worries.

For car manufacturers these could be falling sales, competition from abroad or Government policy changes over CO2 emmissions.

If you are an MOT Station you may still be coming to terms to computerisation.

And for body repairers, bodyshops and garage servicing units your focus maybe on gaining accreditation to the BSI Kitemark scheme or making sure your staff are trained to a certain standard.

The bottom line is you are a Motor Trader you have numerous issues to deal with on a daily basis before you even start to think about your customers and suppliers.

And yet despite this apparant need for people in the Motor Industry to make their lives easier it is suprising to see many traders still choosing to have their Motor Trade Insurance policies with many different insurance brokers and companies rather than under a single Motor Trade Combined Insurance policy.

The result of this is that many Motor Traders pay too much for their insurance and they spend time (that they simply cannot afford to waste) on looking after them.

Here a just a couple of reasons why Motor Traders should seriously consider a Combined Motor Trade Insurance policy when their insurance is next due for renewal:

1. All your risks together. By opting for a Combined policy your vehicles, your staff, your premises and your profits can all be protected under one policy. No longer do you need your buildings insured with one Broker, your Business Interruption and Liabilities with another and your Road Risks with yet another. Just all your risks under a Combined Motor Trade Insurance policy.

2. Time Savings. Gone are the days of many different types of cover with different renewal dates and provided by different companies. Just your Combined Insurance policy with a single renewal date. If you need to make a change you just need to ring one broker rather than hunting around looking for your paperwork to find out who it is insured with. And if you chose the right broker they should ring around all the main Motor Trade Insurance companies to find you the best deal.

3. Money Savings. By putting all your risks under a Combined Motor Trade Insurance policy you can very often benefit from savings on your premiums as many providers offer discounts. At a time when getting value for money from your service providers is vital then making savings by getting a policy that is easier to administer could be just what you need.

Combined Motor Trade Insurance can save you time and save you money and that is why it works.

When looking for your insurance, the chances are that the answers to some of these questions will be influence your decision:

• Who gives the best service?
• Who understands my needs?
• Who do I like?
• Who has the best policies?
• Who is the cheapest?

When purchasing insurance many businesses focus on "Who is the cheapest?" Whilst this is understandable, making a decision based on price alone can often lead to more harm than good. Any good insurance provider would recommend you look for a company who can provide you with a mix of all the above factors so you end up with someone you trust, who has found you the right policy and at the right price.

Here are a few tips to help you understand insurance providers and to ensure you get the best deal:

Answer their questions honestly: Many people when buying insurance hold back information for fear that it will affect their chance of getting the best deal. The truth is it won’t! The more correct information you give your insurance provider, the better deal they will be able to get for you. If they ask what premium you are currently paying or who you are insured with - tell them (and be honest). If you make up a really low premium, the chances are they won’t be able to beat it. If however you tell them your genuine best price, they will often give you an immediate indication whether they feel they can improve on it.

Use a broker: A good insurance broker can be worth their weight in gold for local businesses. They should understand your needs, your business and your industry. And because of this, they can recommend the correct level of cover you need. They will also search the entire market for you so it saves you time and possibly money.

Recommendations: If you’re happy with your insurance provider, tell people about it. Not only will this allow your friends and family to benefit from their services but you may also receive reductions and further discounts on your policies because of it.

Multiple policies: The more policies you have with one particular insurance provider, the more likely it is that they will benefit from discounts and reductions in premium. It also makes your administration far easier.

If you're looking to buy Business Insurance you'll have a certain level of power over a number of insurance brokers, insurance companies and insurance providers all wanting to do business with you.

With this in mind we'll put you in the position of the dealer in our game of Business Insurance Poker so you can watch the game develop. Are you sitting comfortably? Then let's begin:

If you already have Business Insurance we'll give your existing insurance provider the dealer button as they really have the best seat at the table. They've already built some kind of relationship with you and they can sit back and wait to see what the competition does before they decide to act.

So next is the small blind. The small blind has an interest in your business as they've put in some of their own money in the hope they can win your business. You may have seen an advert for them, they may have sent you a letter or they may have called you to see if you'd like a quote for your Business Insurance.

Next is the big blind. The big blind when it comes to Business Insurance could well be an insurance provider you've heard of. They've spent a sizeable amount of money to get your attention (maybe a television advert or some promotion in the National press) and they aren't likely to give up without a struggle.

So those are the 3 insurance providers who definitely are interested in you and your Business Insurance:

Dealer button - Your existing insurance

Small blind – Maybe an insurance broker who would like to help you

Big blind – Perhaps an insurance company who has a large marketing spend and has got your attention.

It's possible that this is only a 3 player game but as is becoming more common with insurance brokers and insurance companies other parties enter the game. These other insurance providers generally fall into 2 categories:

1. They are likely to offer something (or have a hand) similar to either your existing insurance provider (who still has the button) or the small or big blind.

2. These new insurance providers will offer you something different. They get your attention as they have noticed an element of weakness with the other people at Business Insurance table and are planning on showing you how good they are. So how are they going to do this? Well more often than not they will raise and when it comes to Business Insurance this means they will give you more than the other people at the Business Insurance table.

Let's play the Business Insurance Poker hand to explain in more detail:

a. Your existing insurance provider sends you your renewal terms but you decide to look around for alternative insurance quotes as it's either more expensive than last year or you just want to see what else is available.

b. You receive a letter from an insurance broker who seems similar to your existing insurance broker but they save you a little on your insurance premium. It gets your attention but it is enough?

c. You are now contacted by a direct insurer. You know their name, you've seen their adverts and they knock even more off your renewal price. Sounds great yes? Well maybe but let's see how the game develops.

d. Another player enters the game and makes a bet (or in this case makes you an offer). Their offer is different in that:

1. They specialise in the type of business insurance you are actually looking for

2. They appear to focus more on you and your business rather than on how good they are and how cheap they can get your premium

3. They quote you a very good premium but in addition to this offer you advice, guidance and tell you that if you do suffer a loss with them they will be there to help you. They don't have call centres', they don't keep you waiting in queues. Instead they employ people who understand your business, understand your needs and are here to help you.

So with the bets (or business insurance quotes) all on the table it's possible you may want to play one off against the others with bluffs, raises (or in this case reductions in premiums) until everyone has played their hand and you have to decide who to look after your insurance for another year.
Will you choose?

1. Your existing insurance provider – who gave you your renewal premium but only really started to play when under threat from other providers

2. Someone who offers you the same thing but saves you a little money

3. A company who saves you a little more money but doesn't really stand out from crowd

4. An insurance broker who seems to understand what you need and will do whatever it takes to make sure you are satisfied

Insurance companies and insurance brokers need to pay attention as although insurance is still a very price sensitive business the reality is customers and people buying business insurance want more than a cheap premium.

They want cover tailored to their needs, they want an insurance provider who will work for them and with their interests at heart and they want someone to speak to when they need them most.

They don't want to be held waiting in queues or even worse be keep waiting only to be cut off. They also don't want to speak to someone they don't understand or who doesn't understand them.

Texas Holdem Poker is a great game but insurance for your business is a serious matter. Make sure you get the cover, service and insurance provider you deserve and don't muck it up.

Be honest.

It may sound the most obvious statement but forgotten or inaccurate information could affect your Business Insurance at a later date. Your motto should be, if in doubt, disclose it.

Use an Insurance Broker

If you can’t spare the time to phone or shop around yourself. An insurance broker will search a large number of leading insurers for you so you could save money as well as time. Not only this a good Insurance Broker should discuss your needs and offer advice and guidance to meet them. A good Insurance Broker will tell you what you need (and just as importantly - what you don't need).

Choose the right Insurance Provider

Whether you decide to use an Insurance Broker for your new Business Insurance or whether you decide to deal direct with an Insurance Company make sure you choose your Insurance Provider carefully.

A recent survey conducted by Holden Pearmain, the market research company, showed that 63% of small and medium sized businesses (SME’s) preferred using a local supplier when it came to choosing their insurance provider. And 42% surveyed felt using an insurance broker was the best way to get the best deal.

When choosing your insurance provider look for a company that understands your needs and has facilities with leading insurance companies to ensure you get the right cover, at the right price.

Make sure you’re covered correctly.

Business Insurance can be confusing so if you are unsure of anything, ask your Insurance Broker or insurance company to explain it before taking out a policy. They are the experts so take advantage of their knowledge. And make sure they explain it in a language you understand. The Insurance industry is known for it's use of Jargon so if you don't understand what they are telling you - ask.

Increase your excess.

Most new businesses will want to keep outgoings to a minimum. If you’re looking to reduce your premium without sacrificing cover, you could opt for an additional voluntary excess on top of your compulsory excess. When making the decision on whether to increase your Insurance excess or not though make sure the amount you agree on is affordable.

Put it all together

Consider putting all your insurance policies with the same insurance broker or company. Not only will this make your administration far easier (vital for any new business), but you may also qualify for discounts for having more than one policy with them.

The cheapest isn’t always the best.

As Business Insurance isn’t a "sexy" purchase, many new businesses opt for the cheapest is best option. Don’t always assume this is the case. Make sure the policy you buy gives you the level of cover you require. Don’t leave it until you make a claim to find out if the policy meets your needs. Make a list of what you need from an insurance policy and make sure the policy you buy includes it. And if in doubt, ask.

Finally, your insurance provider should give you advice and guide you through your options so you end up with the correct cover, at the right premium and ultimately have peace of mind that your new business is protected against the unexpected.

So what exactly is Commercial Insurance?

Seems like a pretty straightforward question so here goes:

Put very simply, Commercial Insurance is protection for your business. From new start businesses to those well established; an unexpected event could destroy your business if adequate cover isn’t in place.

With so many insurance products and providers, it would be easy to think Commercial Insurance was a complicated matter. It doesn’t however need to be this way. Commercial Insurance can easily be broken down into 3 keys areas:

1.Keep it legal
2.Protection
3.How to buy

Keep it legal

Certain types of cover are required by law. Employers Liability insurance, which covers claims from employees for accidents and sickness they may suffer as a result of working for your business, is one type of cover that must be purchased. You will also need to purchase at least third-party motor insurance for all motor vehicles used by the company.

Protection

Ensuring you have the right cover and protection is vital so time should be taken to ensure you find a policy (or policies) that give you exactly the level of cover you require. This again need not be a complicated task if you break down your requirements:

A. Insure your people – many firms are often dependent on the people they employ. Insurance is available which will protect the business in the event of employees being unable to work. Types of cover available include Keyman insurance, income protection, directors & officers insurance and private health & critical illness cover.

B. Insure the common risks – certain risks are common to all businesses. These include fire, theft and equipment failure. It is worth investigating (or getting someone to investigate for you) whether common risks such as buildings and contents insurance, cover for money and goods in transit and business interruption insurance can be covered under an all-risks type policy. This may save your business time as well as money.

C. Specialist cover – depending on your industry and requirements, policies can often be packaged together with some even being industry specific with packages tailored to cover specialist sectors like engineering or manufacturing. Other specialist cover available includes public and product liability and professional indemnity cover.

How to buy

Commercial Insurance is more often than not purchased using an Insurance Broker. The benefit of using an Insurance Broker as opposed to buying Business Insurance direct is that they are insurance professionals who can recommend policies to you whilst searching the market to find you the best possible deal.

A good Insurance Broker will offer a personalized service and will understand your needs and that of your business. When looking for an insurance provider it is often worth checking to see if they are well established, have schemes with the leading insurance companies and whether they offer a local and personalized service.

Employers Liability

This is required by law and it covers personal injuries sustained in the course of their employment by your employees. It will also cover an employee (current or former) if they become ill as a result of their work. Failure to take out an employer’s liability policy can result in fines of up to £2500 for any day you are without suitable cover.

Public Liability

This covers injury to a member of the public or damage to their property caused by you or your business. Premiums depend on the type of business you run, your turnover and the number of employees you have.

Products Liability

If you sell (or give away) a product you are legally responsible for any damage or injury that the product you supply may cause. Products Liability will cover you against any compensation awarded as a result of damage or injury caused by your product. Cover is also available to protect you against costs incurred in having to recall a product. With some recent high profile product recalls (SAAB recently announced it was recalling 33,100 cars in the UK and 297,000 units Worldwide due to a ignition problem) now, more than more, is it crucial to ensure you have the correct level of cover.

Directors & Officers Insurance

Directors & Officers Insurance (or D & O) is a policy that protects officers and directors of a corporation from liability in the event of a claim or lawsuit against them claiming wrongdoing in connection with the company's business. Premiums for this type of cover have risen dramatically in recent times so the use of a good insurance broker is highly recommended to ensure you get the best deal.

1. Be honest. It may sound the most obvious statement but forgotten or inaccurate information could affect your insurance at a later date. Your motto should be, if in doubt, disclose it. Whether you’ve had a small bump in a supermarket car park or have made a claim against your liability insurance - tell your insurance broker or company up front or when it happens.

2. Use an insurance broker if you can’t spare the time to phone or shop around yourself. An insurance broker will search a large number of leading insurers for you so you could save money as well as time. When deciding which insurance broker to use things to look for are:

Are they well established?
Do they have facilities with the leading insurance companies?
Are their staff experienced and do they understand your industry?

3. Choose your insurance provider carefully. A recent survey conducted by Holden Pearmain, the market research company, showed that 63% of small and medium sized businesses (SME’s) preferred using a local supplier when it came to choosing their insurance provider. And 42% surveyed felt using an insurance broker was the best way to get the best deal. When choosing your insurance provider look for a company that understands your needs and has facilities with leading insurance companies to ensure you get the right cover, at the right price.

4. Make sure you are covered correctly. Insurance can be confusing so if you are unsure of anything, ask your broker or insurance company before taking out a policy. They are the experts so take advantage of their knowledge.

5. Increase your excess. If you’re looking to reduce your premium without sacrificing cover, you could opt for an additional voluntary excess on top of your compulsory excess. By increasing your excess you could reduce your premium.

6. Make sure your premises are secure. Many insurers will only offer cover on certain premises if they are fitted with a certain level of security. Find out the exact type of security your premises has as this could reduce your premium.

7. Consider putting all your insurance policies with the same insurance broker or company. Not only will this make your administration far easier, but you may also qualify for discounts for having more than one policy with them. Certain insurance brokers and companies also offer discounts for recommending them to your friends and family. If in doubt, ask.

8. The cheapest isn’t always the best. As insurance isn’t a "sexy" purchase, many businesses opt for the cheapest is best option. Don’t always assume this is the case. Make sure the policy you buy gives you the level of cover you require. Don’t leave it until you make a claim to find out if the policy meets your needs. Make a list of what you need from an insurance policy and make sure the policy you buy includes it.

9. Don’t forget the additional cover. When buying insurance for your business, remember that there are several types of additional cover that maybe offered to you. Whilst not all of these will be necessary, there are certain types of cover that maybe of real benefit to you. Some examples of these include:

-- Legal Protection
-- Personal Accident
-- Directors & Officers Liability
-- Public & Employers Liability
-- Business Travel
-- Key Person Insurance

10. Don’t worry. Buying insurance for your business can be a minefield with so many insurance providers and insurance policies available. However, there is no need to worry as providing you choose the right insurance provider, they should have the experience and expertise to guide you through your options and make sure you get the best deal.

Of course, you need to check with an accountant or lawyer for specific information, but in this article, you'll learn what small business insurance has worked for our computer consultants and customers in the past.

What Type of Small Business Insurance Do You Need?

You should definitely have both a general liability as well as a professional liability policy for your services. That professional liability should have the errors and omissions insurance rider folded into it as part of your small business insurance coverage.

How Much Will It Cost You?

This insurance will range in cost, but $3500 is about average. Typically, small business insurance companies will base your price on your size, in terms of employees, the sales volume you’re doing, and how they characterize you by risks.

Take time to carefully explain and look at the categories with your agent before they lump you into something that you’re not. A lot of times they might classify you into software developers which could be a very different risk category than network installers or resellers.

Do Your Subcontractors Need Small Business Insurance?

Yes, each of your subcontractors should definitely have general and professional liability and errors and omissions insurance. You should not be covering them. Otherwise what you’re doing is probably providing benefits that are more like what you would do for an employee as opposed to a contractor.

What's The Next Step With Your Small Business Insurance?

Talk to your attorney and talk to your insurance agent. If you have an insurance agent that takes care of your property and contents insurance needs, you should definitely sit down and talk with them. You might want to ask this question of your accountant also because they have a relatively similar business model in your same area.

Last month I had to drive down to London. I don't like driving at the best of times but the rain, spray and heavy traffic on the M1 made conditions difficult. Radio 2 kept me company and the heater kept me warm. Then I hit that queue - six miles solid and I was soon an hour behind schedule.

They were still clearing up the accident when I got there. It was nasty. A lorry and what was left of two cars. Made me think, after all that could have been me. Yep, my life insurance is up to date and my Will was renewed only last month. The family would be well cared for and the mortgage repaid. Had I missed anything?

The business. What would happen to that? We have two directors, 7 employees, an overdraft and lots of insurance. Public Liability, professional indemnity, vehicles and stock are all insured. We even have legal protection insurance. Had I missed anything? I got to thinking.

Thank goodness it wasn't George in that accident. A great guy and he's been with us five years. He's our top salesman. There again what if it had been my co-director who also owns 50% of the business? What would be the repercussions on the business?

Sales down, profits down, bank phoning all too politely to ask about the Directors guarantee on the overdraft. Then I'd have to try and buy his shares. I wouldn't want someone else to get hold of those. At some stage I'd have to recruit someone of his calibre to continue the company going forward - that wouldn't be easy! And recruiting top people doesn't come cheap. That's more time and more money. The personal problems …… the repercussions …….. the extra work ……… the extra stress ……..

Oh heck, I don't want to think about it all. Quickly, switch over to Radio 1 .

Does all this ring alarm bells with you? 95.2% of UK businesses employ less than 10 people and these are precisely the organizations most at risk from the impact of severe illness or death of a key person. The risks of a key person being stuck down with a long term illness or death are real. 1 in 5 men suffer a critical illness before their normal retirement age. Then there's the M1. The fact that it hasn't happened so far might just mean your business has just been lucky.

Now to those actuarial boffins in insurance companies, risk and luck are flip sides of the same coin. And they can provide insurance cover for most risks. After all they too want to increase sales. But they're scratching their heads about Keyman Insurance. Most of Britain's 4.1million small businesses should have it but few do. What can it do? It can be structured to:

Provide an income stream to the company whilst the key person is incapacitated (compensation for the lost contribution from the Keyman)

Provide a lump sum to the business in the event of death (pay off the overdraft or simply bolster cash flow?)

Provide money for remaining shareholders to buy the shares from the original shareholder or their estate.

You'll need to talk to a Financial Adviser about these issues but they are all insurable. Can your business afford to take a risk it doesn't need to?

Memo to myself – get Keyman Insurance!

As a businessman you might have public liability insurance and you insure your buildings, stock and vehicles. You may even have professional indemnity insurance and legal cost insurance. Is that all? What about your other primary assets – your key staff?

Key staff represent the heart of every businesses but no more so than the UK's 3.9 million small, often family, businesses that have up to 4 employees. Prolonged absence through serious illness or even death can be terminal for some of these enterprises. The risks are the same for limited companies, a partnerships and sole traders.

In this context Keyman Insurance is a must. Keyman Insurance represents a group of insurance plans all designed to financially protect business from the affects of prolonged illness or even death of staff who are central to the prosperity of the business. The insurance can't replace people but it can provide cash to buy time and cover the costs of temporary staff, recruitment, loss of profits or provide a cash injection.

The insurance falls into four categories – insurance to help your business recover during the extended period when your key personnel are unable to work or to train or recruit a replacement, insurance to protect profits, insurance to protect shareholders or partnership interests, and insurance for anyone involved in guaranteeing businesses loans or banking facilities.

Keyman Insurance on those who are central to your business.
Who are your key people? They are the ones who steer, create and drive your business. The people without whom your business would lose sales and profits or without whom even the basic viability of your business would be shaken. Look at the Directors, Partners, owners and beyond. Consider the roles of senior managers in sales, technical development and operations – the roles will change in every business but the candidates are sure to jump out at you.

Insuring these people will provide the extra cash needed to take on temporary staff or recruit and train a replacement.

Keyman Insurance to protect your Profits.
The effect of losing key staff goes well beyond simply the cost of their salaries and the cost of replacement. As they're central to the businesses prosperity, their loss will knock on to the bottom line. You can insure for loss of profits too!

Keyman Insurance to protect Shareholders or Partners.
Here we are talking about insurance to protect interests in the event of long-term illness or death. Families may want to sell their stake in the business but the remaining members in the business may not want those stakes held by newcomers. Keyman insurance schemes can be implemented which provide the necessary finance to buy the shares from the original shareholders or their estate.

Keyman Insurance insuring those who provide personal guarantees.
When a business takes out a loan or raises bank finance the lender is quite likely to require a personal guarantee or a charge on their personal property. This especially applies to small and new businesses. So what happens if these guarantors become seriously ill or die? The lenders may well be in a position to call in the loan. What happens then? Again, Keyman Insurance is the answer. Insurance can be structured to pay-off the loan and thus free the business and the guarantor's family, from major worry.

Most of the UK's leading insurance companies offer Keyman Insurance as a development of their Life and Critical Illness Insurance interests. They have all the necessary paperwork available to implement the cover you need and ensure the taxman is kept at bay.

So, can your business afford to ignore Keyman Insurance? You'll be either a brave or foolish man to say NO!

You may not require all types of insurance listed here, but taking some time now to consider your insurance needs can save you money and headaches in the future. Ultimately, after reading this article, the best way to determine your complete needs is to consult with your insurance agent. Explain to them the details of your home-based business and he or she should be able to determine the best insurance coverage for you (and any employees).

Health Insurance

Health insurance should be the first consideration for yourself and any employees you may have. If you have just left your current job to start your own business, you may be eligible for COBRA, which will provide temporary interim coverage. This will keep you covered while you search for the best health insurance policy.

Disability Insurance

Disability insurance will guarantee that you have some income should you suddenly become unable to work because of injury or illness. Having this extra peace of mind is almost always well worth the extra money you pay.

Life Insurance

Life insurance will help ensure that your family has the money it needs should you meet with an untimely death. Some lenders require that you have life insurance before they'll issue a loan; this guarantees that the loan will be repaid if you meet with an untimely end.

Business Property Insurance

Business property insurance helps protect you against loss of inventory or equipment. If your business equipment or inventory is damaged in a flood, fire, or other disaster, this type of insurance will allow you to recoup your losses.

General Liability Insurance

Comprehensive general liability insurance is necessary for your home-based business if you plan on having clients or customers visit your home. Whether you plan to hold meetings, allow customers to pick up merchandise, or have members of the public enter your home for any other reason, this insurance will protect you if someone is injured while on your property. This insurance will typically pay for your legal defense should you face a lawsuit as the result of a fall or other damage that occurs on your property.

Business Interruption Insurance

Business interruption insurance will help your business recover from natural disasters. It will cover you for income lost during the disaster, and will pay for operating expenses that continue to accrue, even though your business isn't up and running.

Workers Compensation Insurance

Workers' compensation insurance is an absolute necessity if you plan on having employees working out of your home. Without workers' comp, you'll be responsible for any medical expenses arising from injuries employees sustain while working for you. Many home-based business owners mistakenly believe that this type of insurance is only required by businesses that have a retail or separate location, but that's not the case. Another mistake is assuming that only ‘dangerous’ employers (such as construction or movers) need this type of insurance. But what if your employee slips on the stairs or their chair breaks? While those are both unlikely, they are possible and the less risky your business, the cheaper the insurance will be.

These insurance plans can help ensure that you are prepared to face any eventuality that might occur while you are running your own business. Disasters, accidents, and crises can strike at any time. By preparing now, you may be saving you and your company significant financial loss, wasted time, and difficulty.

About the author:

Matt McWilliams is one of the co-founders of HometownQuotes.Com, an online insurance quotes web site. He is originally from Pinebluff, NC and attended Middle Tennessee State University. He is considered an expert in the field of online insurance shopping and finding new ways to help consumers save money on their insurance.

Fears that the environment will suffer under the Republican administration are misplaced, say the world's leading pollution liability experts. Thanks to privatization and the shift to state enforcement, pollution is being rapidly uncovered. Good news for Mother Nature -- devastating news for those footing the clean-up bill.

The fact is, nearly every business -- from farms and schools, to contractors and developers, to printers and manufacturers--is a potential polluter facing third-party liability claims, clean-up costs, business interruption, and damaging publicity. That's according to the environmental insurance experts at Assurex International, the world's largest privately held risk management and commercial insurance brokerage group.

Ironically, business owners who devote considerable resources building healthy organizations often risk it all by neglecting pollution liability insurance coverage. They mistakenly believe their companies are free of environmental exposures, or that pollution coverage is unavailable or unaffordable. Both assumptions are false and potentially costly to businesses large and small.

Former and current land and business owners, waste generators and transporters all can be held liable for environmental exposures. "Acquire a company that buried tanks 15 years ago, construct homes on arsenic-laced farmland, build a school on toxic land, and you'll share liability with the polluter--unless you have environmental liability insurance," notes Assurex President and CEO Thomas W. Harvey.

Environmental insurance helps offset costs associated with pollution clean-up, business interruption, lawsuits, construction delays and property value diminution. "Environmental insurance can mean the difference between business survival and devastating financial loss," says Harvey.

You don't have to be a chemical manufacturer or other big operation to be at risk of environmental liability. Businesses large and small are potential polluters. For a small, neighborhood grocery store, just one broken bottle of ammonia could release fumes, overcome shoppers, and create potential liability problems.

On a somewhat larger scale, take the case of the entrepreneur who bought an aging fast-food restaurant. While remodeling, the new owner discovered underground storage tanks buried 20 years earlier when a gas station sat on the site. The new and previous owners shared responsibility for removing the tanks at a cost of $20,000 to $1 million-plus. With an environmental liability insurance policy in place, clean-up costs might be covered.

Large organizations experience environmental surprises, too. When construction began on a $200 million school complex in Los Angeles, officials had no idea their state-of-the-art learning center sat on toxic land. Once environmental contamination was uncovered, construction on the nearly complete building stopped. Had a site survey been conducted prior to construction, this costly disaster might have been avoided.

While a site survey should be part of any merger, acquisition or real estate transaction, surveys sometimes fail to unearth exposures. Environmental insurance, on the other hand, is a certain way to transfer risks and mitigate financial losses.

According to Brad Maurer, an environmental insurance expert with New York City-based Assurex Partner Frenkel & Co., most business executives would be surprised to learn what's covered by an environmental insurance policy. "Insurance can cover existing exposures today, as well as future risks. Even known environmental conditions may be covered, if surveys indicate there is no immediate health threat," notes Maurer.

"Environmental insurance policies are becoming popular tools for real estate and business transactions," adds Maurer. "Environmental insurance allows buyers and sellers to transfer a deal's environmental risk to an insurer, rather than wasting time and money negotiating who will bear and fund the risk."

The Assurex environmental risk management experts identify six pollution-related losses typically covered by insurance:

1. Defense costs incurred when a third party files a lawsuit against the insured.

2. Defense costs related to government-mandated clean-up.

3. Internal business expenses, including business interruption costs related to clean-up.

4. Development delays when chemical drums or other environmental conditions are discovered on construction sites.

5. Property value diminution.

6. In addition, banks and other lenders may purchase insurance to pay off property loans after environmental conditions are discovered.

The pollution liability experts at Assurex offer tips to help business and land owners avoid environmental disaster:

- Consult with an experienced insurance broker familiar with the environmental risks facing your company and industry. A pollution liability expert will know what coverages exist, which insurers will underwrite your risk, and how to negotiate the best coverage at the most attractive cost. The benefit of consulting a knowledgeable professional is demonstrated by the experience one Assurex Partner had with a major food wholesale client. A food industry specialist, the broker contacted an underwriter who was equally knowledgeable of the client's risks. Because the Assurex Partner/underwriter team recognized ammonia as a common refrigerant and potential polluter, the wholesaler was covered when an ammonia cloud from the plant closed one of the East Coast's largest bridges, sending toll workers to the hospital and commuters to alternate routes.

- Don't let an environmental crisis blind-side you. Do the necessary due diligence, and look deeply into the past of any business or property you plan to buy. Before purchasing property, always hire an engineer to conduct a Phase 1 Environmental Assessment. Had residential developers surveyed the notorious Love Canal before constructing homes and a school on the site, children, teachers, and parents would not have been exposed to this deadly cancer cluster.

- Transfer your risk with environmental liability insurance. Quotes are free and coverage is broader and more affordable than ever. Environmental insurance offers an economic way to address uncertainty. The property that looks like a tranquil pasture today might once have been the site of toxic dumping. Current owners, former owners, waste generators, and transporters can all be held liable, retroactively to the 1920s. Environmental insurance offers peace of mind by transferring risk and liability away from you to the insurance company.

- Don't let an inexperienced insurance agent practice on your company. Environmental exposures and insurance coverages are complex. A novice, unaware of available pollution endorsements, might not realize that a pollution liability policy alone does not always offer adequate coverage.

For additional information about Assurex International, visit www.assurex.com.

Courtesy of ARA Content, www.aracontent.com, e-mail: info@aracontent.com

EDITOR'S NOTE: Assurex International is the world's largest privately held commercial insurance brokerage group. Assurex is owned by more than 65 of the largest independent brokers in the United States and Canada. In addition, Assurex maintains affiliate relationships with Assurex Synergy Group Partners in more than 60 foreign countries. With local brokers in every major city of the world, Assurex is positioned to deliver seamless global insurance and risk management services wherever clients have assets at risk. Independent Assurex brokers and affiliates employ more than 12,000 professionals on six continents and generate annual premiums in excess of $14 billion.