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Business Insurance - And What You Need To Know
Getting your business up and running is exciting, challengingand hard work. You're finally making money - and you are thedriving force that is making your business grow. But have you taken care of the "What ifs". Like - "What if I get sick, how do I pay my bills" or "What if I have a fire, how do I keep my business running". Simply put, the one thing you do not want is to have the business that you have labored so tirelessly on, hit a financial snag. If you are a sole proprietor or a partnership - both yourbusiness and personal liabilities are at risk. Do you thinkyou're safe if you incorporate or have an LLC? Manyare misled into believing this is so, however, you too canbecome personally liable if you sign a personal guarantee ona loan, personally injure someone or act irresponsibility. Asyou will see, owning business liability insurance can anddoes protects your business and personal life from financiaruin. My discussion here will be limited to Business Interruption,Overhead, Umbrella Liability and Liability Insurance - explaining what these four types of insurance are, and what they can offer you and your business. Business Interruption Insurance Business Interruption Insurance helps to insure against anyeconomic losses that you may encounter if something shouldhappen to close down your business. For example, you havea fire in your corner of the house - your business office.Your home is covered for property damage - thus, the rebuilding is covered, however, what about the lose income you're losing while you rebuild? That's where Business Interruption Insurance can come in to play. Overhead Insurance There is one type of business insurance that you may want toconsider when your business is making a good profit, and that would be Overhead Insurance. Overhead Insurancecovers rent, salaries, utilities, insurance premiums and/orinterest payments that are related to the business - thistype of insurance would cover you in case of a majorillness or accident. Umbrella Liability Insurance Umbrella Liability Insurance is used for catastrophiclosses. This will protect you in the event someonewants to sue you. An umbrella policy will upgradeyour basic auto, homeowners or business insuranceto cover these unforeseen events. Liability Insurance If you have people coming to your home-based business,than liability insurance may be something you shouldlook into it. Liability insurance will cover you againstclaims made by others against you for injuries or damagesthat occurred on your property. Yes, your homeowner's policy includes some liabilityinsurance, but it may not cover you for liability claimscaused by your business. To conclude, life offers many unexpected turns in theroad - and basically, that's what all insurance does - itprotects you against those unexpected bumps in theroad - and keeps you moving toward your goals with onlylimited stales. Personally, I believe I can deal with a small bump in the road better than a complete halt inbusiness. How about you? To your success. Vickie J Scanlon has a BBA degree in AdministrativeManagement and Marketing. Visit her siteat: http://www.myaffiliateplace.biz for free tools, articles,ebooks, how to info, affiliate opportunities, servicesand products - to meet your budget and needs.
Latest News:Site: Yahoo! News Search Results for news Futures flat; Lehman buyout news, data awaited (Reuters via Yahoo! News) Stock index futures were little changed on Friday as investors awaited news on the fate of Lehman Brothers after a slide in its stock this week heightened fears over whether the investment bank can survive. Myanmar's Suu Kyi to get family letters, news mags (Reuters via Yahoo! News) Detained Myanmar opposition leader Aung San Suu Kyi has managed to wring small concessions from the ruling generals in the form of letters from her family and some international news magazines, her lawyer said on Friday. SEC Looks Into UAL Stock Scare; Implications For Online News? (CBS News) A ton of digits have been devoted to this in other spots but the SEC's decision to investigate takes it to another level. The backstory: a six-year-old news story about UAL declaring bankruptcy made it into the Tribune-owned Sun-Sentinel 's current news flow, was picked up by a Google (NSDQ: GOOG) News bot and, via a reporter for a newsletter, made it onto Bloomberg News. After a lot of buck ... JCDecaux in talks for News Outdoor Group in Russia (AP via Yahoo! News) French outdoor advertising firm JCDecaux SA said Thursday it is negotiating to buy Russian rival News Outdoor Group from global media company News Corp. News Corp tightens grip on Premiere with new CEO (Reuters via Yahoo! News) Rupert Murdoch tightened his grip on German pay-TV broadcaster Premiere by appointing News Corp executive Mark Williams as CEO in a move to get the company back on track. Phila. mayor to announce grim budget news (The Philadelphia Inquirer) The Nutter administration is expected to announce grim budget news today, which is all but certain to lead to significant spending cuts - perhaps as high as 10 percent - in some city departments, according to three sources familiar with the budget. Help News pick Stadium's greatest moment (New York Daily News) The News is marking the countdown to the final game at The House That Ruth Built by reflecting on Yankee Stadium's greatest moments - and we're asking you - the reader - to help us pick out the best of the best. JCDecaux and News Corp. in talks to combine outdoor ad groups (International Herald Tribune) The News Corp. chief executive, Rupert Murdoch, has recently expressed nervousness about investments in Russia, where News Outdoor generated the bulk of its revenue last year. SEC Looks Into UAL Stock Scare; Implications For Online News? (paidContent.org via Yahoo! Finance) A ton of digits have been devoted to this in other spots but the SEC's decision to investigate takes it to another level. The backstory: a six-year-old news story about UAL declaring bankruptcy made it into the Tribune-owned Sun-Sentinel's current news flow, was picked up by a Google News bot and, via a reporter for a newsletter, made it onto Bloomberg News. JCDecaux in talks to buy News Corp. billboard unit (AP via Yahoo! Finance) In a deal that would create the world's largest outdoor advertising company, French conglomerate JCDecaux SA said Thursday that it is in talks to buy Russian rival News Outdoor Group from global media company News Corp. Site: news - Google News News Analysis A Difficult Road Awaits Panetta at the CIA - New York Times
MORE RESOURCES: Site: Yahoo! News Search Results for insurance NC insurance commissioner orders lower auto rates (AP via Yahoo! Finance) North Carolina State Insurance Commissioner Jim Long on Thursday rejected an industry request for an almost 13 percent increase in auto rates and has ordered a reduction instead. Auto-insurance rates in N.C. ordered cut by 16.1 percent (Winston-Salem Journal) N.C. Insurance Commissioner Jim Long rejected yesterday an industry request for an almost 13 percent increase in auto rates and has ordered a reduction instead. Survey: Insurance Industry Expects Subprime Issues to Negatively Impact 2009 Performance (Insurance Journal) Insurance executives expect subprime and other credit issues to continue to have a significantly negative impact on the industry's financial performance in 2009, and they see credit and pricing risks Nevada Names Baker Acting Insurance Commissioner (Insurance Journal) The Nevada Department of Business & Industry named Betty C. Baker acting commissioner of the Division of Insurance. Baker will oversee the Division while a replacement is sought for Alice Molasky-Arma Here's the lowdown on 'private' bank and broker insurance (USA Today) Q: I've noticed several banks and brokerage firms claiming they have private insurance that protects accounts above the FDIC and SIPC limits. Should investors trust those promises? State unemployment insurance claims up (Macon Telegraph) The Georgia Department of Labor announced Thursday that 59,090 laid-off workers filed first-time claims for unemployment insurance benefits in August, an increase of 72.1 percent from August 2007, but a slight decrease from July to August this year. Fitch Ratings Gives Island Insurance an "Aq" (Insurance Journal) Island Insurance Co. Ltd., Hawaii's largest locally owned and managed property and casualty insurance carrier, has reaffirmed its "Aq" rating for Quantitative Insurer Financial Strength (Q-IFS) by Fit Looking for Free or Low-cost Health Insurance? (Carteret County News-Times) (ARA) - It's no secret that accessing health care is a challenge for the 47 million Americans who are uninsured. Lack of health insurance forces many Americans to choose the health care they receive based on what they can afford, not what they actually need. Uganda: Health Insurance May Face NSSF Fate (AllAfrica.com) The government has finally resolved that all salaried workers and employers, will with effect from July 2009, be required to make compulsory contributions to the new National Social Health Insurance Scheme. The net inflow from life insurance companies into equity stood at Rs550bn till March 31, 2008 , foreign institutional ... (India Infoline) The life insurance industry was the largest investor in the Indian equity markets, ahead of foreign institutional investors and mutual funds, according to the reports. Site: insurance - Google News US health care overhaul needn't break bank: study - Reuters
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