4 Opportunities to Reduce Worker’s Compensation Insurance Claims

September 13, 2020 Blog

Tips from the Helpful Brokers at The Business Insurance Center

Many expenses are involved in running a business. You depend on your sales to generate revenue upon the delivery of your product or service. Between the moment that a sale is made and a customer pays their invoice, numerous steps must be accomplished. If an employee gets injured or becomes ill during their work responsibilities, productivity is interrupted. Injuries are threatening for all parties involved, from the employee to the employer. How can you reduce injury and thereby, worker’s compensation insurance claims?

Reduce potential claims and protect your employees with proactive safety steps. Another step in protection is to contact your experienced worker’s compensation insurance broker at The Business Insurance Center. We are happy to assist you in reviewing your existing policy and offering solutions to fill any gaps. We also enjoy partnering with you to educate you on the way you can save on rates. Give us a call and see the difference it makes to have a knowledgeable broker in your corner.

You Can Reduce Worker’s Compensation Claims Starting with 4 Action Steps

Reducing the number of claims your employees experience starts with you taking the four proactive steps listed below:

  1. Prioritize Safety: The first step is to be proactive and have a written safety plan in place. It should include disciplinary action for breaking policy and reward systems for following the protocols. Your entire management team should be on board and ensure proper execution of roles and responsibilities. A cohesive and fair implementation of the safety plan, including regular training, will lead to a workplace environment with fewer injury claims.
  2. Take Immediate Action When The Claim Occurs: There will be claims, even when all safety measures have been taken. Time is of the essence so complete an accident report in as much detail as possible, take photographs, and talk to any witnesses. Your first report of the injury should be sent within 24 hours to your insurance company. You should also require a drug test of the employees involved. If you already have a drug testing policy, this should fit right in.
  3. Report Suspicions of Fraud Immediately: Unfortunately, some people will lie. If you suspect fraudulent activity, report it immediately to your insurance company. It will sometimes pay to investigate any suspicion of fraud. For example, imagine if a worker who filed a claim for a back injury was photographed digging a trench. If you had suspected this, you won’t win the suit without the evidence from an investigation.
  4. Review Your Current Policy: Worker’s compensation insurance is not a one-time-and-never-look-at-again purchase. It pays to review your policy for accuracy and to see if the claimant is a repeat offender. Additionally, you will want to check that your experience modification factors reflect the actual number of claims your company files. Your insurance broker can assist you with this.

Reduce Your Worker’s Compensation Insurance Claims with the Right Plan

Lower your company’s overall expenses when you make an action plan to increase safety measures and decrease claims. For over 30 years, the knowledgeable brokers at The Business Insurance Center have worked with small businesses and the self-employed across a wide range of markets. We understand that each enterprise is unique and strive to incorporate the best coverages to meet your requirements. Discover the difference when you contact us today.

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

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6 Mistakes to Avoid When Filing an Insurance Claim

September 11, 2020 Blog

Helpful Advice about General Liability Insurance

Buying business insurance gives you peace of mind knowing that if something goes wrong, you have help to recover. The process works well. You pay for your policy each month so when you suffer a loss, the insurer issues a check and you are back on track taking care of your customers. Well, in a perfect world that is how it should happen. In reality, many additional steps or mistakes can be made to slow the process, or even stop it.

Avoid having your claim denied. Be sure you know what your policy, such as your general liability insurance, does and doesn’t cover. When you have questions, reach out to your friendly and knowledgeable broker at The Business Insurance Center. We are happy to assist you with understanding the coverages you have and what you may need for complete protection.

Steer Clear of these 6 Mistakes When Filing a Claim

In the middle of calamity, it can be easy to overlook steps you should take to make things easier for your insurance claim to be paid. Be prepared by reviewing these common mistakes so that you can avoid a denied claim:

  1. Unfamiliarity with Your Policies: Your general liability policy covers injury or damage to third parties and their property. That means if your equipment gets damaged in a fire at your office, your policy may not cover it. You may have to pay out-of-pocket to repair or replace tools and computers. Your Business Insurance Center broker can assess your existing policies, explain what coverage you have, and develop an insurance plan to fill in the gaps.
  2. Failing to Contact Your Insurer Immediately: The sooner you report property damages, the better. Your memory will be fresh, and claims are easier to adjust in the beginning. Many insurers have quick-response teams ready to assess the situation and damages. Many policies require you to report an incident within 48 hours, or they can refuse payment. Be sure you know what is needed from your policyholder.
  3. Not Documenting Damage: Document the damages done as thoroughly as possible. Photograph damaged equipment, goods, utilities, and anything else that may be costly to repair or replace immediately. It’s a good idea to record the time, date, and substance of any verbal conversations, retain copies of mailed correspondence, and keep all email exchanges in a folder on your computer.
  4. Throwing Out Damaged Goods and Belongings: Hold on to the damaged items until your adjuster lets you know it’s okay to get rid of them. The physical evidence is vital to proving the extent of your loss. It may be necessary to make some temporary repairs to prevent further damage. Be sure to keep your receipts and submit them to your insurance company.
  5. Admitting Fault: Do not admit fault. Doing so removes any doubt about the cause of the accident and you may not know all the factors that came into play. It will also impair your insurer’s ability to defend you. Some policies prohibit you from assuming fault without first receiving consent from your insurer. Admitting fault may put you in breach of contract and your claim being denied.
  6. Not Advocating for Your Company: It might seem counterintuitive to argue with an adjuster about your claim. In reality, it’s not about arguing because you want to cooperate, but it is also about not automatically accepting everything your insurer says. Instead, be realistic about what your damaged property is worth with clear, well-documented evidence. This helps if an adjuster undervalues the items in questions. You can also hire your own adjuster for a second opinion and use a third-party mediator if the values differ.

Make Your General Liability Insurance Claim Count – Help from The Business Insurance Center

Give yourself a leg up when you file a claim by knowing what your policies cover, and reporting and documenting damage as soon as possible. Your Business Insurance Center broker is happy to assist you with all your business coverage needs. We work with a variety of insurers to get you the best coverage at very reasonable rates. We love supporting small-to-medium sized companies, the self-employed, and entrepreneurs alike. Let us give you the help you need to protect your future.

Request a quote online or call and speak with a knowledgeable and experienced broker at the Business Insurance Center about purchasing general liability insurance for your company or non-profit organization. We have a 24/7 call center to serve you and an online Live Chat operator. 

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How to Start a Landscape Contracting Business

September 09, 2020 Blog

Landscape Contractors Insurance and Other Essentials You Need

Many people follow their passion when they start a new business venture. They may love book keeping, or graphic design, or a myriad of other opportunities. Your passion lies in the love of plants and making lawns look gorgeous. You understand the importance of curb appeal and the dangers of overgrown trees hovering over electrical lines. Dirt under your nails is Mother Nature’s manicure. It makes sense that a lawn care or landscape business is the perfect fit.

Enhance your chance for success when you prepare ahead of time for your new enterprise. Build your base by figuring out what services you want to offer and the best business structure first, then contact a knowledgeable broker at The Business Insurance Center for a landscape contractor’s insurance quote. We work with you to ascertain what coverages you need and develop a tailored plan to fit your requirements – all at reasonable rates that won’t turn your green thumb black!

5 Questions You Need to Answer Before You Mow the First Lawn

Setting up a new business requires many steps. Here are five key questions you should answer before you fire up the weed eater:

  1. What kind of services will you offer?Consider what is currently being offered in your local market. Is it primarily residential homes? Do you have business campuses or apartment complexes nearby? Look at your competition. What do they offer, and how can you fill in any gaps? It’s a good idea to find a niche, but you don’t have to pigeonhole yourself either. Here are a few options to enhance your offerings:
    • Lawn mowing and maintenance
    • Seasonal cleanups
    • Gardening, design, and architecture
    • Tree and shrub pruning and removal
    • Irrigation
    • Fertilizing
    • Edging
    • Mulching
    • Snow removal
  2. Do you need certificates or a degree?The answer to this is dependent on how you answered the first question. For some services, like landscape architecture, customers may expect you to have a professional qualification. Set yourself apart from the competition by obtaining certifications through the National Association of Landscape Professionals and the Environmental Protection Agency (EPA).
  3. How do you want to structure your business? The simplest and least expensive structure to open up a business is a sole proprietor. While it is a great option when you are mowing a few lawns, other structures will give your personal assets added protection from liabilities that may arise. For example, a limited liability company (LLC) gives you the benefits of both a corporation and a partnership. It would help if you spoke with your attorney and tax professional about the best option for you.
  4. Do you need a business license?Your state may require a business license, as do some cities and counties but in general, you don’t need to have a specialized license to start your landscaping company. Reach out to your county clerk to discover what types you may need, and potential restrictions.
  5. What kind of insurance do you need? At a minimum, you will want a general liability policy. It will cover you in the event of third partyinjury or property damage. Other options include commercial auto to cover your company vehicle, worker’s compensation to protect employees when they are injured or ill, and business property for equipment and office space. Your broker can discuss your current and future needs to ascertain the best policies for your situation.

 Grow with Confidence – Purchase Landscape Contractor’s Insurance from BIC

Bring beauty to the world with the landscape services you offer. The team at The Business Insurance Center stands ready to help you protect your growing enterprise. We’re happy to sit down and discuss the different options that are available and explain how they can save you, your employees, and your company. Give us a call and let’s get started today!

Request a quote online or call and speak with a knowledgeable and experienced broker at The Business Insurance Center about obtaining a landscape contractor’s insurance plan that fits your unique needs. We have a 24/7 call center to serve you and an online Live Chat operator.

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5 Employment Practices Liability Insurance Claims Trending in 2020 – Are You Covered?

September 07, 2020 Blog

Handy Information from The Business Insurance Center

As a business owner, you want to focus on those issues that will keep customers happy and coming back for more. You expect your team to act like professionals, thus reducing the likelihood of disgruntled clients and co-workers. However, reality dictates that this isn’t always the case and sometimes people act out in ways that create an atmosphere of fear. How do you keep great talent if you become known as “that” employer?

Give your team the support they need by curating an atmosphere of respect and safety. For those times when someone steps out of line and a lawsuit is filed, be sure you have employment practices liability insurance in place. The brokers at The Business Insurance Center assist business owners like you every day to get the best coverage at reasonable rates. Contact us to see how we can help fill in any gaps in your policies.

5 EPLI Trends and What You Can Do about them

In a litigious society, you must always be aware of your company’s actions and do what you can to protect your employees. Here are five trends that demand action to shore up your current protocols so you can build a company culture that works together to keep everyone safe:

  1. Retaliation: This can occur if an employer punishes an employee for engaging in a legally protected activity. It can include cooperating with an investigation with an outside entity like the Equal Employment Opportunity Commission (EEOC). Retaliation can take many forms, like being fired or being passed over for promotion. Here is how you can thwart this attitude of retaliation:
    • Create a policy against retaliation and be sure all your employees are educated on the matter.
    • Implement a confidential process to handle complaints and communicate the anti-retaliation policy to complaining team members in a confidential manner.
    • Keep documents on everything.
  2. Sexual Harassment: The #MeToo movement sparked a rise in sexual harassment claims and it spans all types, including LGBT-based ones. You can mitigate potential claims against your company and team when you:
    • Develop the needed policies against sexual harassment
    • Provide regular training to prevent sexual harassment from occurring in your workplace
    • Create the type of company culture that does not allow for nor support sexual harassment
  3. Wage and Hour Litigation Threat: Some people participate in the gig economy where they work as contractors, but they should be classified as employees. The result is that they don’t enjoy the same pay structure or benefits. To keep lawsuits to a minimum or even non-existent:
    • Be sure you have classified all your employees properly
    • Stay up to date on new laws
    • Utilize government resources like the Fair Labor Standards Act guide
  4. Gender Pay Gap: Yes, even in 2020, there is a gap between what women earn versus their male counterparts. You don’t have to stay behind the times.
    • Encourage women to succeed with policies like flexible hours and parental leave.
    • Create mentorship programs and opportunities for women.
    • Pay the same for the position, not the gender.
  5. Marijuana Legalization: More and more states are legalizing marijuana for recreational and medical use. This puts employers in a precarious position, especially when using dangerous equipment. You can be prepared by taking these steps:
    • Stay up to date with the marijuana use laws in your state.
    • Review relevant laws before you fire or refuse to hire a worker over marijuana usage.
    • Create and enforce drug policies that focus on safety in the workplace.

Protect Your Business and Your Employees with EPLI from BIC

Protecting your team begins with plans aimed to create a company culture free from fear of retaliation and is open to discussion. At The Business Insurance Center, we understand some of the issues you face, and we’re here to help you get the coverage you need. Contact us today to shore up those areas you may not realize are weak.

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

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How to Protect Your Business during Civil Unrest

September 07, 2020 News

What You Should Know about Business Insurance Programs

The year 2020 will go down in the history books as one filled with a crippling pandemic, monstrous natural disasters, and numerous episodes of protests and riots. As a business owner, you understand there are risks in everything you do, yet there’s nothing that can prepare you for the potential of hundreds of people marching down your street in protest. You may agree with their right to voice their opinions and demand change, but if you see some protests turn violent, it’s understandable to become nervous. What happens if your convenience store, restaurant, or plumbing service gets ransacked?

Do what you can to protect your livelihood during times of civil unrest, but remember, the most important thing you can do is keep your employees, customers, and yourself safe. The brokers at The Business Insurance Center are ready to check your existing business insurance program to shore up any areas that may need more coverage. Additionally, we can help you file your claim if your place of business is ransacked,. We’re here for our customers so give us a call.

5 Suggestions to Keep Your Business Protected in Times of Unrest

During times of civil unrest, it’s imperative to keep a level head. As one community news article put it, “Civil unrest can create unique challenges for businesses.” Here is a summary of how you can prepare for potential unrest in your area:

  1. Stay Informed of Conditions from Local Authorities and News Outlets: Your best source of information should come from reliable sources like your local authorities and news media. Some social media may be okay but you do run the risk of misinformation. You may want to contact your police department for additional tips on how to prepare and what plans they have in place in the event of riots or peaceful protests that get out of hand.
  2. Inspect Your Business for Potential Vulnerabilities: Now is the time to make sure that the wonky lock on the back door is fixed, or that your security cameras work consistently. You may also want to board up windows and doors if you fear riots will break out in your area.
  3. Remove Valuable Items from Your Location: Looters will look for valuables. Avoid leaving any in the area by removing those items most valuable to your operations, such as removable equipment, fleet vehicles, and cash.
  4. Change Your Business Hours: Depending on how things progress, consider adjusting your business hours. It can help keep your customers and employees safer if they are out of the building before nightfall.
  5. Communicate Evacuation Plans with Your Employees: Things can escalate and spread quickly, leaving you and your team scrambling to get out of the way. Discuss options for evacuating if things get testy and you fear for your safety.

Keep Protected Amid Protests with a Solid Business Insurance Program

Check-in with your insurance broker to review your insurance policies and discuss potential gaps with your coverage. Business insurance programs from The Business Insurance Center are specifically designed to provide the necessary protection for your unique situation. Your broker will assess your existing plan, look for any gaps, and develop a plan for you. Give us a call today!

Request a quote online or call and speak with a knowledgeable broker about business insurance programs. We have a 24/7 call center to serve you and an online Live Chat operator. 

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4 Reasons to have Directors’ and Officers’ Liability Insurance

August 17, 2020 Blog

Help from the Professionals at Business Insurance Center

Growing companies rely on their board of directors and officers to make major decisions. These men and women work diligently to assist in the success of your business. Yet, when they have to make unpopular decisions, it may place them in the position to be on the receiving end of a lawsuit. Few people want to take the chance that their personal assets could be at risk from a commercial decision. Instead, they want assurance their private belongings are safe.

Protect your executives from potential lawsuits when you choose directors’ and officers’ liability insurance from The Business Insurance Center. Our nationwide network of experienced brokers helps you protect quality talent and safeguard your company. Give us a call and let us put our knowledge to work for you.

Benefits of Investing in Directors’ and Officers’ Liability Insurance

Are you looking to secure venture capital or investor funding? Do you want to attract and retain qualified directors? Then you should invest in D&O liability insurance. Here are four benefits to consider:

  1. You can find high quality executives to help your company grow. Few in the C-Suite would want to subject their own and their spouse’s personal assets to a potential lawsuit. With D&O coverage, they don’t have to worry about their private assets being lost if they are personally sued.
  2. Your company is protected in the event of a lawsuit. The protection covers legal fees, settlements, and other costs associated with a claim. It is used as the financial backing for indemnification purposes, which is what holds officers harmless for any losses from their role in the company.
  3. The protection includes a broad range of reasons. You may find your enterprises facing a variety of claims that may be covered. They include a breach of fiduciary duty, misrepresentation of business assets, misuse of company funds, fraud, theft of intellectual property, or lack of corporate governance.
  4. You don’t have to be a large organization to benefit. If you’ve heard that only large, public corporations should have directors’ and officers’ liability insurance, you heard wrong. Companies and non-profit organizations don’t have to have millions of dollars of revenue to benefit from proper coverage. Smaller entities need the protection just like the big companies too.

Protect Your Commercial or Non-Profit Enterprise

Focus more on running your organization efficiently and less on potential lawsuits when you purchase directors’ and officers’ liability insurance. The brokers at The Business Insurance Center not only look at your current policies for gaps in coverage, but they also tailor a plan that meets your company’s needs. We work with leading carriers to give you the best protection at reasonable rates.

Request a quote online or call and speak with a knowledgeable and experienced broker at the Business Insurance Center about purchasing directors’ and officers’ liability insurance for your company or non-profit organization. We have a 24/7 call center to serve you and an online Live Chat operator.

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4 Apartment Building Insurance Policies You Should Have for Your Complex

August 15, 2020 Blog

Helpful Suggestions from the Brokers at The Business Insurance Center

Owning an apartment building or two, or an entire complex is not a small investment. You may be bringing in passive income from rent, but you still have the expense of maintenance and potential lawsuits. There are plenty of risks you face as a landlord. There may be property damage from weather or vandalism. You may have a claim filed against you for personal injury. If those claims go to court, you may face increased costs because of legal fees that can tap out your insurance limits.

Safeguard your livelihood when you carry the appropriate policies for your needs. The knowledgeable brokers at The Business Insurance Center help landlords like you with finding the best coverage for your situation. We offer a variety of policies backed by prominent insurers through our apartment building insurance program. Let us help you rest easier at night knowing you are properly covered.

Apartment Building Insurance Policies to Keep Your Livelihood Protected

You provide a safe place for your tenants. When things go wrong, you need to know you have safeguarded your business. Here are four policies you should consider having in your plan:

  1. General Liability Insurance: Every business benefits from this policy. It steps in when someone gets hurt while on your premises. For example, you keep the common areas, like hallways, gym, pool, and parking lot maintained. However, a tenant’s guest accidentally slips on a mat in the lobby and hits their head. They may file a claim, and your general liability can help cover costs including legal fees.
  2. Property Insurance: This coverage is slightly different as it protects the building structures from covered events. This can include things like fire, smoke damage, vandalism, vehicle and aircraft damage, explosions, and riots.
  3. Business Income Loss: When tenants must leave because of a covered loss, you lose money. You might be reimbursed for the income you lost from events like fires or flooding for example. The tenants have to leave, but you can still get paid.
  4. Umbrella Insurance: Your policies have limits. When claims exceed those limits, the balance comes from your pocket unless you have umbrella insurance. Think of it this way, you wear a raincoat for protection over the majority of your body, except your head. If it rains, you put up your umbrella to keep your uncovered head dry. Your general liability policy might pay out a portion of claims against you in a lawsuit and your umbrella policy can step in to cover the rest.

Sleep Easier – Choose Apartment Building Insurance from BIC

No more lying awake at night wondering when catastrophe may hit your complex. Choose to work with the experienced brokers at The Business Insurance Center. We help you determine the best plan to give you the appropriate protection against property damage, personal injury, and income loss claims. We also find gaps in your current coverage. Sleep better knowing you have safeguarded your livelihood.

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

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Discover the Difference between General Liability and Commercial Property Insurance

August 20, 2020 Blog

Useful Information from The Business Insurance Center

Businesses need insurance. It helps to protect against claims that can financially devastate a company. Yet, deciding on what type of coverage will give you the protection you need can be confusing. Should you buy general liability? What about business interruption? What do I need if I have a fleet of trucks? The options are almost endless, but you can make a guided decision.

Get the help you need from a team that cares about your success. Talk to the knowledgeable brokers at The Business Insurance Center about commercial property insurance and other types that can safeguard your enterprise. We are happy to help disseminate all the information so that you can make an informed decision.

Breakdown of General Liability vs. Commercial Property

When you compare different types of insurance coverage, liability steps in for those times when there is bodily injury resulting from your business. Commercial property is for those times when something happens against your business assets. Here is a breakdown with examples:

  1. General Liability: When something happens that your company is legally responsible for, it is called a liability. If someone suffers a loss, you must make up for the loss. Most often, these are claims of bodily injury, third-party property damages, or harm to someone’s reputation. Additional liabilities include professional mistakes and oversights, as well as unfair hiring practices.
  2. Commercial Property: As you set up your shop, you may buy, rent, or lease office space for storing your equipment. You may have tools, computers, office furniture, and inventory on your premises. When damage occurs, it can be devastating. Common events include fire, theft, vandalism, and some weather events. You need adequate coverage to recover your losses.

Protect Your Business Assets with Commercial Property Insurance from BIC

Safeguarding your livelihood and that of your employees starts with purchasing the correct type of insurance coverage. You don’t have to wade through all the jargon you don’t understand. We assist you in ensuring you have the best protection with the appropriate insurance policies including commercial property, general liability, commercial auto, and many others. Use our 30 years of experience to your advantage by giving us a call today!

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

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5 Types of Specialized Contractor Insurance and Why You Should Choose the Right One

August 13, 2020 Blog

Guidance from the Knowledgeable Brokers at the Business Insurance Center

When you show up on a job site, you already know what role you have in the project. Masons handle all masonry work. Roofers work on the roof, and HVAC technicians take charge of the heating and cooling equipment and set up. Each have their part, yet, your requirements are all different. For example, you can’t install a furnace in a new home if there is no roof yet. Likewise, you don’t call a plumber to fix a clogged fireplace. In other words, you need a specialist, not a generalist. The same holds for your commercial insurance needs.

Obtain contractor insurance that meets your unique area of expertise when you contact the team at The Business Insurance Center. Our nationwide network of brokers understands your specialized needs and can custom tailor a plan to fit them. We can even review what you have now, find any gaps in coverage, and give you options to improve your protection.

5 Types of Contractor Insurance to Fit Your Unique Needs

All contractor insurance has the same basic opportunities for coverage, including general liability, worker’s compensation, and commercial property. Yet, different trades require different approaches. Here are five different kinds you can find for your specialty:

  1. HVAC Contractor: You and your crew spend a lot of time on other people’s property, installing and repairing air conditioner units and furnaces. You work with specific chemicals and face liabilities for potential installation issues. You need liability, property, and transportation protection on par with your risks.
  2. Landscape Contractor: Not only do you work wonders with a chainsaw and shears, but you may also provide designing and lawn care services. You understand that a poorly cut tree can land on a home and cause extensive damage. You should choose specialized protection that keeps the grass greener on both sides of the fence.
  3. Mold Remediation Contractor: Mold is the nemesis of allergy sufferers around the country. When disaster strikes in the form of hurricanes or other severe storms, your customer depends on you to suit up and clean out the menacing mold spores. Your job is crucial to the health of others. Work with an insurer that knows what you are up against, like fire and water restoration, and is ready to assist you in protecting your business.
  4. Plumbing Contractor: From septic tanks to home builders, plumbing is vital to our health and safety. Stepping onto a site with your specialized tools should be about solving your customer’s problem, not about worrying if you have the right coverage when a claim arises.
  5. Roofing Contractor: Similar in importance to the foundation, a roof ties a structure together and protects the inhabitants within. Your skills help ensure that families and companies don’t suffer from leaky roofs that often lead to mold and mildew build-up. Roofing insurance should focus on safeguarding you and your company in the event you are sued.

Find the Right Contractor Coverage through The Business Insurance Group

While it may be tempting because it seems straightforward, it’s best to avoid the one-size-fits all approach to insurance coverage. Talk to the professionals at The Business Insurance Center. We will gladly sit with you and discuss the best plans for your area of expertise. Then we’ll develop a customized contractor insurance package to give you the best protection at reasonable rates.

Request a quote online or call and speak with a knowledgeable and experienced broker at The Business Insurance Center about obtaining a contractor insurance plan that fits your unique needs. We have a 24/7 call center to serve you and an onl

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Don’t Cancel Your Commercial Insurance during COVID-19

August 13, 2020 News

Suggestions from the Business Insurance Center

Nothing could have prepared the world for COVID-19. This virus has brought the world to a halt and left people, businesses, and countries scrambling to figure out the next step. From Main Street to Fortune 500 companies, everyone has felt the effects of losing jobs and customers. Making payroll weighs heavier on business owner’s minds as each day new restrictions are put into place. Many are continuing to cut as many expenses as possible in hopes of coming out on the other side. Some may consider dropping certain insurance policies in hopes of easing their financial strain.

As tempting as it may seem, avoid canceling your insurance. Instead contact the dependable team at The Business Insurance Center to ask about commercial insurance providers. We are happy to assist you through this crisis and into the future. We can assess your current policies, look for gaps, and see where you may have too much coverage. You need the correct protection at reasonable rates, especially in this uncertain world.

4 Suggestions to Keep Your Company Protected

Little could have prepared us for the pandemic. According to this CNBC article, the insurance industry is confronting this unprecedented event head-on. We agree, and we are here to assist you. When you struggle to make ends meet, consider these four tips before you let your policies lapse:

  1. Communicate with Your Commercial Insurance Provider. Reach out to your broker or insurer and ask for help. We are all in this together and insurance companies are trying to accommodate as much as they can. They may be able to defer payments, extend payment plans, or other offer options that may be available. You must let them know, though.
  2. Adjust Your Worker’s Compensation Insurance. Many companies had to temporarily shut their doors or layoff employees. This means less payroll going out. You can ask about switching your worker’s compensation policy from an annual estimate to pay-as-you-go. This can free up cash flow in the immediate period. You may be able to reduce your premiums by reducing your annual payroll estimate now instead of waiting for an audit.
  3. Make Changes to Your Liability Insurance. Your premiums are generally based on the number of employees you have or the annual estimate of receipts. Talk with your broker about determining a new estimate of receipts based on the changes and downturn in the economy, helping to ease your immediate cash flow concerns.
  4. Ask about Adjustments to Your Commercial Auto Coverage. If your fleet has been left at the shop instead of out on the road servicing customers, you may qualify for a credit for the time the vehicles have not been in use. Your agent can let you know if your policy allows for this type of “lay-up” period.

Stay Protected Even Amid a Pandemic with Commercial Insurance

Take proactive steps to shore up your business and come out of the pandemic in a better position. Talk with the caring commercial insurance brokers at The Business Insurance Center. We understand you have worries and concerns, and we are here to assist as best as we can. Don’t cancel your policies! Give us a call and discuss your needs today.

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

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