When you get a home, you should make sure that you have adequate homeowners insurance. If you have a mortgage, your lender is going to require that you spend $500 to $1,000 to make sure that you can fix any damage that happens to the home. It will also provide you with financial protection in the event that anyone is injured while on your property.
Don’t Put Your Family or Your Business at Risk
If someone is hurt on your property and wins a judgment against you, the judgment could be worth thousands of dollars or more. In extreme cases, you may be forced to sell your home or other belongings to pay that amount. In the event that you have to file for bankruptcy, business assets as well as personal assets could be liquidated if you operate as a sole proprietor. In a Chapter 7 case, you are obligated to stop running your company.
Business insurance offers many benefits to you, such as providing you with liability coverage, loss of income coverage and more. However, the premium is a regular expense in your budget, and you may be looking for an effective way to reduce the cost of your premium so that you can enjoy lower overhead in the months and years to come. There are a few helpful tips you can follow that could yield a lower premium.
Opt For a Higher Deductible
The deductible on your business insurance policy is directly linked to your premium. When the deductible is higher, the premium will be lower. You can speak with your insurance agent to learn more about the premium savings available to you by opting for different deductible amounts. Keep in mind that you will need to pay for your deductible each time you file a claim.
Business insurance is a necessity, but buying insurance can seem confusing at times. For example, you may not know how much coverage you need or even what some of the different insurance lingo means. While you could buy insurance on your own, a better idea is to put the services of a skilled and experienced business insurance brokers to work for you. Your business insurance agent can help you with your new policy in several different and beneficial ways.
Identifying Your Coverage Needs
From liability to loss of income and more, there are various components to a business policy that may benefit you at one time or another. Determining which coverage is needed can be challenging. Your insurance representative will help you to identify which type of coverage is most beneficial. In addition, your agent can explain what coverages that benefit your particular situation and that are also the most cost-effective.
If you have a car, you need to have auto insurance. In fact, if you finance your car, you have to have insurance as a matter of getting a loan. Most drivers hope that they never have to use their auto insurance, but it can save you hundreds or thousands of dollars in the event that anything happens to your car. Here are some ways that you can save money on your auto insurance.
Saving on Insurance
Bundle Your Auto Insurance with Another Policy
One of the easiest ways to save money on your auto insurance is to bundle it with some sort of other policy. For instance, you could try to bundle your auto coverage with your renters insurance or homeowners insurance. That may entitle you to a discount on both policies, which allows you to save money that could go toward a vacation or help pay down other debt.
Allied Insurance Managers, Inc. understands all the risks involved for professionals working in the construction industry. Financial costs that can arise out of bodily injury or property damage to a third party can be extremely high for both upper tier and lower tier contractors, hence the need for insurance coverage that covers all bases. As a leading business insurance broker in Michigan, our company specializes at insuring all types of contractors in order to help relieve professionals of financial responsibility and liability.
Although insurance is what we mainly offer, we also specialize in risk transfer, loss control and other risk management solutions for the Construction Industry. We cater to general contractors, paving contractors, street and road contractors, mechanical contractors, HVAC contractors, plumbing contractors and more.
People in Michigan appreciate some natural wonders that residents of more southerly locales can’t always enjoy. The State of Michigan encompasses two peninsulas that span the entrance to Lake Michigan. Blessed with some exceptionally lovely wilderness areas, this region of the United States offers incredibly beautiful winter scenery.
Along with memorable snow covered landscapes, during colder months Michigan residents endure bitterly cold weather. Frigid winds blow across the icy Great Lakes. These conditions sometimes create unusual hazards for homeowners. Purchasing a homeowners insurance policy furnishes greater peace of mind for property owners during winter months. Even the hardiest residents of ‘The Great Lake State’ appreciate this extra protection.
Risks associated with doing business exists for companies of all sizes. The business may be in its fledgling stages or it may have grown considerably to a thriving small company. In either case, no business owner can afford to risk their life savings or good name in the event of an accident or legal claim.
Protecting Your Business
Businesses should be protected with the right level of insurance. A brick and mortar storefront with an influx of customers will likely need property insurance should an accident or fall happen. If an employee becomes injured while out on the road conducting business on a company’s behalf, the right worker’s compensation policy could be key in limiting out-of-pocket expenses. Although a company may not operate a full fleet of vehicles, any car used for business purposes should be protected just the same.