Print Page   |   Contact Us   |   Your Cart   |   Report Abuse   |   Sign In
News & Press: Arizona Business News Updates

4 Things You Should Know to Protect Your Small Business

Thursday, January 10, 2013   (0 Comments)
Posted by: TJ Green, Allstate Insurance
Share |

Whether you’re a small business owner working from home, in an office or on the road, it’s critical to protect your business from losses. Here are four business insurance basics you should know to help protect the small business you’ve worked so hard to build:

 

1. Assess Your Needs

The first step to determine what you need protected is to assess your business needs. What data, equipment, vehicles and properties do you have? If you’re working from home, you may have thousands of dollars worth of computer equipment and software with sensitive information. What would happen to your business if something happened to that?

The amount of money you make shouldn’t trigger your insurance needs. The amount of potential loss to your small business should. That’s when a local insurance agency can guide you through the best protection based on your unique business’s needs.

2. Get the Right Type of Business Insurance Policy

It’s important to consider what type of business insurance policy you need. If you rely on your vehicles, one minor accident can be a major setback. It’s important to cover your valuable equipment with a business-specific auto insurance policy, especially if you’re loading or unloading a vehicle or driving for daily business purposes.

The most inclusive business insurance package is the Business Owner Policy (BOP). Typically, BOP covers business property, general liability, equipment, computer data and loss of business income. BOP is important to small business owners because it covers additional liabilities in and out of your home and is flexible for a small business owner to add specific small business coverages. Be sure to consult with your insurance company about what’s right for you.

3. Know your policy’s limitations

Most small businesses, even if they’re home-based, are not covered under personal auto and homeowners policies. Imagine if you are delivering a fragile package and slip and injure yourself without business insurance. Your homeowner’s policy probably does not cover your injury or the cost of the package. Ask your business insurance company to provide you with a comprehensive review to ensure you’re prepared.

4. Build a relationship with your insurance agent

This is just the beginning. Buying insurance shouldn’t be like buying a song on iTunes – the sale isn’t over when you have it. There may be some websites that offer business insurance, but most local insurance agencies are small businesses like you. They know what it’s like to operate a business in the local market and what coverages would be best for you. Many insurance companies have online searches to find a local agent that can help you with business insurance. Making a phone call or paying them a visit could save you time, money and a headache when the unexpected occurs.



Healtcare Forum for 2017

REGISTER

Date: Tuesday, November 15, 2016
Time:
11:30 AM - 1:30 PM
Location:
ASBA's Business Education Center, Phoenix

RSVP

ASBA's Fantasy Lights Holiday Soiree

REGISTER

Date: Thursday, December 1st
Time:
6:00 PM - 9:00 PM
Location:
Stone House Pavilion at the Phoenix Zoo

Get $5k-$20 in Free Marketing: Make 2016 Your Year for Success!

In Business Magazine

Use In Business Magazine as a tool to reach your customers for 2016. Through Print, Online, Social Media, Email & Events, you can realize an additional $5k to $20k in free advertising with In Business Magazine over 2016.

LEARN MORE

Small is the New Black

ThinkSmallBiz

What's trending for 2016? Small Business! This year, resolve to support our local economy by "Thinking Small" at least one time each week! Need help finding a small biz? Visit ThinkSmallBizAZ.com! #ThinkSmallBiz

LEARN MORE

Allowing you to concentrate on what's really important.

Low and Johnson Inc.

We understand the insurance needs of locally-owned businesses because we're one, too. As an ASBA member backed by CNA, we're dedicated to helping small businesses like yours safeguard all you've worked so hard to build.

LEARN MORE

RSVP

ASBA 101

REGISTER

Date: Held monthly
Time: Click to check times
Location: Phoenix or Tucson

RSVP

ASBA Speed Networking

REGISTER

Date: Every 2nd Tuesday of the Month
Time: 3:00 PM - 4:30 PM
Location: Phoenix or Tucson

You're important to us and we want to help protect you

Mutual of Omaha

Protecting you and your family through the use of insurance products. Purchase an insurance policy with lower premiums and/or enhanced benefits not available to the general public.

LEARN MORE

Have questions on small business and health insurance?

Health Insurance

Get the latest on individual, sole proprietor, or group plans related to small business. We can help you find the right plan for you, and your employees. Click to learn more!

LEARN MORE

CopperPoint Insurance Companies

CopperPoint Mutual

CopperPoint Insurance is Arizona's premiere provider of workers compensation insurance. We've been providing coverage and advocating for Arizona businesses, small and large, throughout the state since 1925.

LEARN MORE

Association Management Software Powered by YourMembership  ::  Legal