What Factors Affect the Price of Commercial Liability Insurance?

Almost every business needs commercial liability insurance, no matter its size and industry. This type of policy can protect your company from financial ruin when a claim is made against you, for example after someone gets injured while on your premises or their property gets damaged. It also pays out if you face a lawsuit related to libel, slander, or false advertising.Fortunately, general liability insurance doesn’t have to be extremely expensive, and small businesses can find policies from around $50 per month. The size of the business, the risk levels, the location, the deductible, and whether the firm has ever made a claim in the past can affect the cost of insurance. Today, we’ll have a closer look at each of these factors and discuss whether you should take out a policy.What Affects the Price of Commercial Liability Insurance? The insurance business is highly competitive, and companies offer various prices for…

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What Is the Difference Between General Liability and Garage Liability?

Nowadays, every business needs insurance. Often, general liability is the best option because it covers issues such as bodily injury or property damage on the company’s premises, problems with an advertising campaign, or issues with products. However, some firms need a more specific policy that addresses the risks of their industry. For instance, those operating in the automotive industry can benefit from garage liability.While general liability is designed for a wide variety of businesses, garage insurance is targeted at people working with vehicles. In some cases, both policies might be necessary, but many companies are well served with just one or the other. Today, we’ll have a closer look at the two types of insurance and discuss how you can find one that suits you.What Is the Difference Between General Liability and Garage Liability?A liability insurance policy is designed to protect a business or individual when a lawsuit is brought…

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How Much Life Insurance Should You Get?

Nobody likes to think about their passing, especially at a young age. This might be the reason why almost a quarter of US adults don’t have life insurance. But if you have dependents who rely on your income, it is highly recommended that you take out a policy to protect their interests. Although speaking to an insurance specialist before purchasing a policy is almost always the best way forward, you can start figuring out what you need on your own before then.To determine how much insurance you should buy, you must take into consideration how much money your loved ones will spend after your passing and what debts they will need to pay off. Additionally, there are one-off expenses that shouldn’t be forgotten. Read on to find out how to calculate the amount of insurance you need and what policies there are.How Much Life Insurance Should You Get? How much insurance…

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What Does Commercial General Liability Insurance Cover?

Because we live in a litigious society, small and medium-sized businesses have to protect their finances. If you or your employees work with customers, operate out of physical locations, advertise, or rent space to others, you should take out commercial general liability insurance. This can protect you if things go wrong and someone gets injured or their property gets damaged while they are interacting with you.CGL insurance is extremely important for companies because it can cover the costs of a lawsuit, including the legal fees and any compensation your firm has to pay the claimant. Since some lawsuits result in a six or seven-figure fine, your insurance policy protects you from an event that could be detrimental to your firm’s finances. Let’s have a closer look at what is covered by CGL insurance and whether you should take out a policy.What Does Commercial General Liability Insurance Cover? Almost every business transaction…

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What Is General Liability Insurance for?

General liability insurance is a type of insurance that can protect homeowners and business owners from risky situations that could levy thousands of dollars in unexpected costs. These scenarios include financial loss caused by property damage, bodily injury, slander, and more. This insurance shields you from the financial fallout caused by follow-on lawsuits and medical costs.What Is General Liability Insurance For?Accident ProtectionHomeowners and businesses need general liability to protect themselves from potential lawsuits arising from misfortune. Accidents can happen on your property or site of business which could result in costly injuries and potentially expensive litigation fees. This is especially important if you own property that is especially valuable – such as a business or rental property – and can result in expensive payouts for any damages.For example, let’s say you’re hosting an outdoor party. One of your guests falls down your stairs due to poor lighting conditions, and this…

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Why You Need Garage Liability

Small businesses are the backbone of the American economy, and automotive small businesses are no exception. These hardworking people keep America moving by repairing and servicing our cars. But even the smallest business can be at risk for liability claims, which is why garage insurance is so important.Why You Need Garage InsuranceWhat Is Garage Liability Insurance?Garage liability insurance is a type of umbrella insurance policy that covers the risks associated with automotive businesses and potential issues that impact third parties, like customers or visitors. It’s specifically targeted toward the automotive industry and understands the nuances of the work involved.Dealerships, tow-truck operators, parking lots or parking garages operators, auto service stations, auto detailers, emissions testing centers, custom auto shops, and repair shops are candidates for this type of coverage.Why Is Garage Liability Insurance Important?Garage liability insurance can protect you from lawsuits arising from third-party property damage, third-party bodily injury, product liability,…

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Directors And Officers Liability Insurance

As businesses grow, so too do their risks. Large organizations find themselves under increasing scrutiny and regulations, which increases your potential liabilities. Although you likely have a great deal of trust in your senior management, mistakes can happen at any level. When a serious problem arises due to the actions of your top brass, directors and officers liability insurance (D&O insurance) can help you recover damages. Here’s how it works. What Is Directors and Officers Liability Insurance? First of all, there is more than one kind of D&O insurance. In general, D&O insurance can be broken down into two types. The first is a form of protection for directors and officers. The latter protects the company against damages caused by directors and officers. Both kinds can be valuable to businesses of every size. Consider some situations where you could benefit from having directors and officers liability insurance in your portfolio:…

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11 Signs You Need General Liability Insurance

Every business needs general liability protections. This is obvious for most companies, but this type of insurance is often misunderstood and underappreciated until it’s too late. Without general liability coverage, a person could sue you if they get hurt at your place of business, without having to prove that you did anything wrong—which means they’d win by default. So what happens when you don’t have general liability coverage? Here are 10 signs that you need general liability insurance.11 Signs You Need General Liability Insurance1. You Don’t Have Any Now     If you’re a business owner, it’s in your best interest to have the necessary protections. This type of insurance protects you from lawsuits if someone gets hurt while on your business site. Even if you’re not at fault, you could still be sued if someone gets injured. If you don’t have this insurance now, you could end up in a…

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10 Tips for Small Businesses Looking for Commercial Liability Insurance

Small businesses are the backbone of the United States economy. According to recent studies, small businesses account for more than half of all private-sector jobs and over 60% of net new jobs since 2000. Despite their importance, many small businesses lack essential protections like commercial liability insurance, also known as “business insurance”. Keep reading to learn our top tips on how to find and secure the right business insurance for your organization!10 Tips for Small Businesses Seeking Commercial Liability Insurance1. Understand What This Type of Insurance IsCommercial general liability insurance is a form of insurance that covers bodily harm, personal injury, and property damage caused by the company’s operations, goods, or injuries that take place on its premises or wherever the company’s services are performed. It’s comprehensive. It does not, however, cover all the potential risks that a company might face. This type of insurance policy is essential for small…

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Why Is Umbrella Insurance Worth Getting?

Do you have general liability insurance? You might think that with your current insurance policy, you’re all set. But if you’re hit with a claim that’s more expensive than you expected, you could find yourself and your business floundering. For cases like these, you’ll want to consider having commercial umbrella insurance.Why Is Commercial Umbrella Insurance Worth Getting?If you own a business, it’s important to make sure that you’re keeping it and yourself safe. Having the right insurance will do that. However, not all insurance policies will cover every potential liability. You should always make sure to read through your policy and understand what you are and are not covered for.You should also consider purchasing commercial umbrella insurance, which is a great way to keep yourself and your business safe. Umbrella insurance will cover additional potential costs that your current insurance policy may not. It can also take over any costs…

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What Does Liability Insurance Actually Cover?

Owning and operating a business can come with unforeseen expenses, such as liability claims. Many businesses are unprepared to cover these costs, even though liability claims are unfortunately quite common and usually result from normal business operations. Having liability insurance coverage can keep your business from having to pay these costs out of pocket. Read on to find out what types of claims liability insurance can protect you from. What Does Liability Insurance Actually Cover? Sensible risk management strategies are a must for business owners, as it’s essential to keep your business protected from unnecessary expenses. Though there are many perils associated with business ownership, the number one way to keep your business protected is to ensure your business is properly insured. When you’re unexpectedly hit with a liability claim, insurance can be the difference between your business coming out on top or facing financial ruin. Liability coverage is an…

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Can You Get General Liability Insurance as an Individual?

As someone running a business, whether you have employees or you work alone as an individual, protecting yourself and your work is the most important thing to do. At ISU Armac, our insurance options, including general liability insurance, will help keep you and your business safe. Can You Get General Liability Insurance as an Individual? If you are looking for ways to protect yourself and your business, then general liability insurance is something that you’re going to want to consider. Businesses can benefit greatly from this type of insurance, especially if something unexpected happens in your workplace. This type of insurance is an integral part of protecting yourself, your clients, and your business. But while it’s important to have if you run a business with employees, you might be wondering if it’s something that could be useful if you’re an individual or an independent contractor? Can it still benefit you?…

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David VS Goliath Podcast – Episode 3- Ryan McEachron – Welcome to the gun show!

https://www.youtube.com/embed/F3eYvKkeLgs David Vs Goliath Podcast features some of the top small business CEO’s stories of how they where able to leverage technology or other secrets to not only compete with their big competitors but actually win! In this fun and entertaining format your host Adam DeGraide will keep it interesting, educational and practical. This is a must view podcast for any existing or aspiring entrepreneur who has the desire to FIND, SERVE & KEEP more customers….PROFITABLY. In this Episode Adam DeGraide discusses the challenges of inheriting a successful small business and the need to not only sustain it but grow it in today’s fast pace high tech world. ISU-Armac is an insurance agency located in Victorville CA and provides both personal lines and business insurance nationwide. Find them online here https://www.isu-armac.com/

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How Do I Get California Home Insurance in High Fire Risk Areas?

Coverage for an accidental fire is one thing, but what if you happen to own a home in a geographical area that is at higher risk of wildfire than other parts of the country? Is coverage for wildfire damage part of your insurance policy? Understandably, many people who live in California and other western states are very concerned with fire risk home insurance since wildfires are worsening due to the impact of climate change. The good news is that it’s easier than you think to have coverage for your home in case of wildfire damage. How Do I Get California Home Insurance in High Fire Risk Areas? Many homeowners are surprised to learn that coverage for fire damage, including damages caused by wildfires, is typically part of a standard homeowner’s insurance policy. That’s right – instead of searching for a specific policy to add to your existing insurance, your first…

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What Insurance Do I Need to Run a Garage?

Every business needs to be insured. A single mishap could spell the end of your company if you aren’t. However, insurance needs vary wildly depending on the profession involved. For example, medical professionals need malpractice insurance, something that few other jobs call for. So, what about a mechanic that runs a garage? Is there a sort of “garage insurance” that you can buy? Insurance companies often bundle together a suite of insurance plans to cover all the needs of a specific business. Essentially, garage insurance is the perfect combination of insurance products to make sure that your garage can operate worry-free. Let’s take a closer look at each of the items that we would include in a comprehensive garage insurance plan. We’ll look at ones you absolutely must have, along with some that might be good options to add to your plan.   Garage Insurance: What Insurance Do I Need…

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What Is the Difference Between Garage Insurance and General Liability?

All businesses need liability insurance, but some specific industries may require specific insurance policies. While many small businesses can benefit from a general liability insurance policy, car garages, mechanics, and other businesses in the auto industry may benefit more from garage insurance. But what’s the difference between garage liability and general liability? What Is the Difference Between Garage Insurance and General Liability? General liability is a multipurpose policy that protects small businesses from a variety of common risk areas. Most business owners take out a general liability insurance policy to protect the business from lawsuits related to injuries, damage to client property, and accusations of false advertising. In general, having general liability insurance is a standard requirement for most businesses. Garage liability is different. For garage insurance, the components of the policy are specific to the automotive industry. Garage liability insurance provides coverage for claims related to injuries and property…

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What Happens If a Wildfire Burns Down Your Home?

Wildfires have become more common in the last decade, and they are likely to keep increasing in both frequency and strength due to high levels of climate change. While people around the world have seen the damage these natural disasters do on the news, not everyone is aware of the financial impact such an event has on the residents. If you’re concerned, taking out a high fire risk insurance policy could set your mind at rest. A high level of insurance can help you to find a new place to live while your home is uninhabitable, keep covering your mortgage payments and repair your property, and replace the personal items that you’ve lost as a result of the fire. While it has been difficult to find great policies in the past, this is changing, and some insurance companies are offering plans specifically aimed at people like you. Let’s have a…

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How Much Does Commercial Restaurant Insurance Cost?

Whether you run a coffee shop or a fine dining restaurant, working in the food industry means that you need different insurance than other small business owners. Commercial restaurant insurance provides all the protection you need to run your business safely and smartly for yourself, your employees, and your customers. But how much does it cost and what can this insurance do for you? How Much Does Commercial Restaurant Insurance Cost? Just like any other type of insurance, the cost of coverage for a restaurant will depend directly on the policies you apply to your insurance plan. The most common type of insurance for restaurants is business owner’s policy insurance, which bundles general liability, commercial property, and business income coverage into one plan. Bundling your insurance policies into a single plan can go a long way to making your insurance more affordable each month. Of course, the overall price may…

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What Insurance Does a Restaurant Need?

As with any business, owning a restaurant comes with a long list of potential risks and liabilities. Having the right kind of restaurant insurance can go a long way towards protecting your investment and ensuring that you are covered in a number of different scenarios. Keep reading to find out how you can properly insure your restaurant and save yourself from potential hardships down the road. Selecting the Right Business Insurance Package  A restaurant needs business insurance, of course, but tailoring the right package that includes all the specific policies that will keep you covered in a variety of situations is essential. Properly insuring a restaurant requires a comprehensive package that will protect you against the risks that are unique to restaurant ownership, as well as the more general risks that come with owning any business. Specific Insurance Requirements in the Restaurant Industry  There are certain risks that a restaurant…

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Does Homeowner’s Insurance Cover Wildfires?

With significant droughts being experienced across large areas of the western, southwestern, and midwestern United States, for the 4.5 million homeowners in fire-prone areas there’s one question that’s on everyone’s mind: if my house burns down, will my insurance cover it? It’s no surprise this is keeping many of us up at night; losing your home is bad enough, but if your insurance can’t cover it, for many people this could be a one-way ticket to bankruptcy. Does Homeowner’s Insurance Cover Wildfires? The good news is that most homeowners’ insurance policies will cover wildfire damage as a matter of course. In fact, there are usually several coverage types that will help you repair or rebuild your home, replace your belongings, and even help you and your family find temporary accommodation if it’s not possible to live at home. Dwelling Coverage Dwelling coverage is a simple form of coverage that will…

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