A Breakdown from the Team at the Business Insurance Center

When protecting your condominium association, it helps to understand who is responsible for what. For example, who covers the roof if storm damage occur? Does the association pay for a broken stove inside of a unit? Each party has specific areas they need to safeguard in the event of a claim. While individual unit owners own a portion of the building in which they live, it does not mean they have to cover common areas with a personal policy.
Understanding where the association’s liability ends helps when obtaining the appropriate amounts of condo association insurance. When you speak to a knowledgeable broker from the Business Insurance Center, you will find someone to help you navigate the nuances of the coverage you seek. We work with stable insurance companies to offer you the best protection at reasonable rates.

What a Condo Association Insurance Policy May Cover

In general, a condominium association is responsible for making decisions concerning the management of the buildings and common areas. They establish rules and by-laws to ensure things are taken care of so everyone can enjoy living in the community. Here are the different aspects a condo association insurance policy may cover:

1. Master Policy : This type of policy provides coverage for common areas, including hallways, elevators, and sidewalks. Generally, it is found in three types of coverage:
   • Bare walls coverage takes care of the basic elements like walls, roofs, floors, and elevators.
   • Single entity coverage includes the basic elements of the building as a whole, and the standard finishes within a single unit. It does not include the personal property of the condo owner.
   • Modified single entity/all-in coverage is much more comprehensive as it includes fixtures, installations or improvements within the interior surfaces of the individual units while also covering the common areas.
2. General Liability : This policy is used for potential lawsuits if someone slips and falls on the grounds, for example, if there is a crack in the sidewalk. It may also provide protection if a resident’s unit is burglarized and the association failed to have adequate security.
3. Other Areas of Coverage : It is possible that your condo association needs additional protection. Here are some other policies you may seek:
   • Directors’ and officers’ liability in the event a member of the board is sued because of their performance on the board.
   • Crime and fidelity coverage may help if there is theft of association funds or financial misconduct.
   • Sewer backup may help reimburse in the cases where damage related to a sewer or drain backup occurs

Comprehensive Condo Association Insurance from Experienced Brokers

Ensuring all your residents enjoy the benefits of living in your community should be backed up with a comprehensive insurance package. When you work with the experienced team at the Business Insurance Center, you can rest assured that you will have the best coverage for your needs at a reasonable rate. Give us a call today and let us assess your condominium community’s needs.

Request a quote online or call and speak with a knowledgeable and experienced broker at the Business Insurance Center. We have a 24/7 call center to serve you and an online Live Chat operator.

Suggestions from the Helpful Team at the Business Insurance Center

Since the passage of the 2018 Agricultural Bill, many farmers are making the leap from traditional crops like tobacco, corn, or soybean to hemp. This handy plant is used in a variety of commercial and industrial products, like rope, textiles, and clothing. Until about 70 years ago, it was grown here in the land of the free and home of the brave. When Congress classified hemp as a narcotic in 1937 through the Marijuana Tax Act, companies had to import the plant from other countries.

Now that it is legal to grow again, farmers are looking to this potential cash crop to save their farms and families. The decision to till many acres of a known crop in favor of a new one should not be made without considering all that it entails. If you do choose to become a hemp grower, be sure to talk with the knowledgeable team at the Business Insurance Center and obtain hemp grower’s insurance to protect your new investment.

Common Questions about Growing Hemp

Hemp has been around for thousands of years and has a myriad of uses. When it comes to growing the plant, consider these answers to common questions:

1. Why should I grow hemp? Besides the lucrative CBD oil industry, hemp has over 25,000 known uses. It grows more vigorously than corn with less water, pesticides, herbicides, and fertilizer. Almost all parts of the plant can be used. For example, the biomass can be used for livestock feed, biofuel, paper, and textiles. The seeds and oil are used in both culinary and industrial industries. The stock, called hempcrete, can be used as an alternative building material.
2. What part of the country does hemp grow best? For the most part, this rigorous plant can grow in just about any region of the country. It loves warm weather with well-drained soil saturated in organic matter. They are relatively drought-resistant plants but do require some irrigation in the early part of their growth cycle.
3. How much land do I need? You need to think in industrial-sized terms. This isn’t a plant you harvest and take to your local farmer’s market. To be profitable, expect to sow at least 50 acres of seeds.
4. What kind of regulations are in place? The landscape of growing hemp is changing. As of the 2018 Farm Bill, the plant was reclassified and became legal to grow. However, you must follow the regulations of your particular state, as well.
5. Can I expect to make a profit? It is possible, and a very attractive option too! The market is still in its early stages, so only time will tell what the industry’s success rate will be.

Get Off on the Right Foot – Buy Hemp Grower’s Insurance from the Business Insurance Center

In addition to following the correct state mandates, get the right coverage for your hemp growing operations. The experienced brokers at the Business Insurance Center understand the uncertainty you face and are available to help you find obtain policies for crop protection, equipment, sales and revenue, and health, life, and disability. Let us assist you as you make the jump into this new and blossoming crop.

Request a quote online or call and speak with a knowledgeable and experienced broker at the Business Insurance Center. We have a 24/7 call center to serve you and an online Live Chat operator.

Handy Suggestions from the Team at the Business Insurance Center

Supporting other organizations with your cleaning company is a fabulous service. It’s that background task that helps companies, medical offices, schools and stores keep their premises clean and ready to begin the next day’s work. In some ways, your service is an unsung hero. Once you have your business structure and name chosen, you may think you can jump right into cleaning office buildings.

Before you set loose with your vacuum and cleaning supplies, ask yourself if you have everything in your arsenal, including insurance for your janitorial services. The experienced brokers at the Business Insurance Center help small business owners, entrepreneurs, and self-employed individuals like you get the coverage you need to protect your company. Let us work with you to determine the best policies for your needs.

6 Types of Insurance Policies for Your Cleaning Service

Don’t be caught off guard when an unfortunate incident occurs and you find yourself at the wrong end of a lawsuit. Start with these six types of insurance policies and gain peace of mind that you can keep moving forward for your clients:

1. Start with general liability insurance. This may be the most widely known type of coverage. Sometimes called the ‘slip-and-fall lifeline,’ it steps in when a non-employee slips and falls, an employee causes property damage, or you are sued for advertising-related injuries.
2. Next, add a business owner’s policy. Think of this as protection for your capital expenditures like purchases of commercial cleaning equipment or office space. This can help in the event of a fire, theft, vandalism, and certain weather occurrences which cause you to incur costs for repair or replacement.
3. Remember to stay legal with workers’ compensation insurance. Most states require you to purchase workers’ compensation insurance when you hire employees. Injuries can happen, and this policy helps your employees pay for medical costs and lost income. It may even help if a lawsuit is brought against you from an employee.
4. Give your clients confidence with a janitorial bond. Show your potential customers that you are trustworthy with a bond. If an employee steals or breaks something, your bond can help cover the replacement costs.
5. Add on commercial automobile liability to protect your vehicles. Driving between sites can result in an accident. Your personal car insurance will not cover your vehicles used for commercial purposes. Get the coverage you need with the right type of policy.
6. Just in case you cannot work, business interruption coverage may help. As a small company, you may have yourself and only a couple of employees running things. If you cannot work because of a covered event, this policy may be able to help you keep the lights on.

Safeguard Your Janitorial Service with Appropriate Policies from the Business Insurance Center

Don’t wait for a catastrophe to happen. Talk with the knowledgeable staff at the Business Insurance Center and get the best coverage for the right rate. We work with you to ease your concerns about the types of protection you require. We can look over your existing policies and assess where you may have gaps. Then we will custom-design a plan for you and your business. Give us a call today, and rest assured your enterprise is appropriately covered.

Request a quote online or call and speak with a knowledgeable and experienced broker at the Business Insurance Center. We have a 24/7 call center to serve you and an online Live Chat operator.

Suggestions from the Business Insurance Center Team

Starting a new business venture is both exciting and nerve-wracking. You have an excellent service or product that can help your clients and you’ve taken the necessary steps to get started. You have opened your bank account and your family understands that you have “office hours” each night after dinner. You have joined the ranks of thousands of other entrepreneurs starting a new business each year. You know you will succeed and are doing everything you can to achieve the results you want. But are you prepared for a situation when a disgruntled client sues you? The classification of your business determines whether your personal assets as well as your business assets are affected by a claim

Most people start out as a sole proprietor. Others invest in a limited liability company (LLC). Do you know which entity you should choose? No matter which choice you make, working with knowledgeable commercial insurance providers such as the brokers at the Business Insurance Center is a step in the right direction. We can assist you in finding the best coverage and reasonable rates so that you can be protected when the unexpected happens.

Understanding the Differences between a Sole Proprietorship and an LLC

When you understand the differences between conducting business as a sole proprietor or an LLC, you will see the risk you are exposed to and the taxes requirements for each. You should speak with your tax accountant for specific questions regarding taxes but understanding the main differences between the two types are listed here:

1. You are a sole proprietor by default. According to the IRS, if you own an unincorporated business that is not registered as a corporation, partnership, or limited liability company, you are a sole proprietor.
2. You are personally liable for any debt your business accrues if you choose sole proprietorship. This goes for lawsuits and other business obligations, as well. Your personal assets can be used to cover any lawsuits after business assets are taken.
3. You will pay some fees for filing for an LLC. Prices vary across the states and may take a few weeks. Sole proprietors do not have to pay fees, and you will manage your own tax withholding and insurance.
4. Your business may look more credible as an LLC. Lenders look at businesses differently when they are listed as a corporation, partnership, or limited liability company. You may have more collateral for a bank to consider for loans.
5. The ownership of a sole proprietorship stops when you pass away. If you want your spouse or children to take over when you die, you may want to consider other measures.

Safeguard Your Enterprise with Commercial Coverage from the Business Insurance Center

Deciding on the best entity for your new business is paramount. Once you choose, reach out to the experienced brokers at the Business Insurance Center. We work with many different businesses across a wide range of industries. We can help you get the most coverage for your budget. Let us help you protect your new venture.

Request a quote online or call and speak with a knowledgeable and experienced broker at the Business Insurance Center. We have a 24/7 call center to serve you and an online Live Chat operator.

Tips from the Team at the Business Insurance Center

Most people who consider going into business have heard of a general liability policy. It is the most common form of coverage and helps protect the company in the event of personal injury or property damage to a third party. This type of policy is exactly what the name suggests, general, and is the starting point for protecting your enterprise. Depending on your industry, you may benefit from more than one type of coverage.

Determine what kind of protection you need by talking with an experienced broker from the Business Insurance Center. We work with reputable insurers with knowledge in many different industries. Benefit from our knowledge and insight when you talk to us about general liability insurance today.

2 Questions to Ask When Choosing a General Liability Policy

The choices may seem complicated but when you know what you need, it is much easier to decide. A reliable agent will be able to answer your questions and help guide you on what to look for. Here are two questions to get you started:

1. What types of liabilities do I need to protect my business from? Each company is different and faces its own set of challenges. You might have customers continually traversing on your property where you may worry about slips and falls. Another business may have dangerous equipment that employees can get hurt on. It helps to list everything you can think of that might make you worry about a possible lawsuit.
2. If someone got hurt, how much money would my company need? When you know what you need protection from, you can then determine how much coverage is required. It would help if you considered not only lawsuits but also medical bills and other potential claims. Depending on the size of your company, you may need more protection than others in lower risk industries.

After you’ve contemplated these questions, set up a time to discuss your needs with your insurance broker from the Business Insurance Center. We will sit down and look through your “worry” list and what you think you may need to recover. Then we will assess your current policies to see if there are any gaps and suggest opportunities to shore up the leaks. You don’t have to navigate the insurance world alone.

Safeguard Your Company with General Liability Insurance from the Business Insurance Center

Gain peace of mind that your organization can recover if a claim or lawsuit is filed against you. Talk with the team at the Business Insurance Center. We strive to consistently assist small business owners, entrepreneurs, and the self-employed with products that help you protect your enterprise, so you can continue to serve your customers.

Request a quote online or call and speak with a knowledgeable and experienced broker at the Business Insurance Center. We have a 24/7 call center to serve you and an online Live Chat operator. 

Help from the Team at the Business Insurance Center

Protection for employers and employees comes in a variety of forms. There are government regulations like OSHA, laws, and insurance. One such format gives your team what they need when they get hurt or sick on the job, and then it turns around and protects employers from being sued. Nearly every state offers workers’ compensation insurance in some form. Most states require that you purchase this coverage; however, there are a few exceptions.

Ensure you are following the regulations of your state when you purchase the correct workers’ compensation insurance. The knowledgeable brokers at the Business Insurance Center help self-employed individuals, entrepreneurs, and small to medium-sized businesses with all their policy needs. Let us assist you in finding the right coverage at reasonable rates.

Exemptions to Purchasing Workers’ Compensation Insurance

In general, you are required to purchase workers’ compensation if you have employees. Some states allow exemptions. You should check with your state’s laws, but here are some basic segments that don’t require the coverage:

1. Ownership Status: If you are a sole proprietor, partner, member of an LLC, or a corporate officer with a certain percentage of stock ownership, you may be able to exempt yourself.
2. Lack of Employees: You may own an LLC but have no employees. In cases similar to this, you might be eligible for a workers’ compensation insurance exemption. You should keep in mind that some clients may request a certificate of coverage, so it would still pay to purchase a policy.
3. Independent Contractors: Using an independent contractor has its benefits, including not having to provide health insurance, pay payroll taxes, or make contributions toward a 401k retirement plan. It may also mean that you don’t have to purchase workers’ compensation.

Qualifying for an exemption requires different steps, depending on the state you are doing business in. One thing to keep in mind is that even if you can get an exemption, choosing to do so may not be the best choice. The cost of purchasing a policy may be minimal in comparison to increasing your employee’s morale. They will have immediate access to medical services, and you will have peace of mind.

Worker’s Compensation Insurance Makes Good Sense

Ensure you are following the regulations for your state when you purchase workers’ compensation insurance. The dependable staff at the Business Insurance Center takes the time to assist you with all your business coverage needs. We can even look over all your policies to find any gaps. If you want coverage at reasonable rates, give us a call.

Request a quote online or call (888)-585-0511 and speak with a knowledgeable and experienced broker at the Business Insurance Center. We have a 24/7 call center to serve you and an online Live Chat operator. We serve the entire United States.

Advice from the Helpful Team at the Business Insurance Center

Any type of insurance you obtain is to help mitigate risk. When shopping around for the right policies, it is imperative that you get your questions answered. It is also vital that your agent asks you the right questions, ensuring that you will have the specific type of policies for your unique business. For example, if you have commercial property insurance, it covers business equipment while it is on your property. The moment it leaves the premises, it is no longer covered. Imagine being a landscaper and having your lawnmowers stolen and not having the right policy in place to protect you!

Be sure you are getting the protection you need. Sit down with a knowledgeable broker at the Business Insurance Center. We understand that each industry is different and needs to be treated as such. When you talk with us, you gain peace of mind that you have a partner for your company’s wellbeing.

4 Questions Your Commercial Property Insurance Broker Should Ask You

Having the wrong insurance is like having none at all. When shopping for new or replacement coverage, your prospective broker should be asking you these questions:

1. What is the type or nature of your business? A plumber will have different requirements than an RV park or a daycare. There are different types of equipment and expectations between them all, and a good broker will understand this.
2. Do you work offsite, and how much time do you spend? If you take equipment off your business premises, it may not be covered under a commercial property insurance policy. It might require inland marine protection, for example.
3. What types of equipment do you use when you are away from your business premises? Will you be taking laptops away from your office and onto a job site? The coverage may need to be different to be sure your devices are adequately covered.
4. What do you feel are the most significant risks to your business property? There may be specific situations that you are aware of that can help your broker determine insurance options. This is especially true if those risks occur primarily offsite.

In today’s technology-driven world, it is not uncommon to have expensive equipment with you on a job site. Without the right policies in place, you face the possibility of paying out of pocket if an unfortunate event happens.

 Find the Right Policies with Help from the Business Insurance Center

Expect more when you talk with a broker about commercial property insurance. The experienced team at the Business Insurance Center stands ready to answer and ask the questions that will get you the right coverage for your company.

Request a quote online or call and speak with a knowledgeable and experienced broker at the Business Insurance Center. We have a 24/7 call center to serve you and an online Live Chat operator.