During these scary times it becomes imperative to save your business and your employees money on healthcare, and just finding an adequate health plan for your business is half the battle! When you are a small business owner you may become a bit overwhelmed with the choices that you have when it comes to health insurance plans for your business, but all you really have to know from the get-go is: Does my business need a Fully-Insured Healthcare Policy, or a Self-Funded Healthcare Plan?
The most famous one of the two categories of insurance would be Fully-Insured plans. These types of plans follow a simple path: You pay a premium to an insurance provider and have all insurance liabilities go through them. This arrangement does insulate your business from claims that can cost a lot and might be a little more simple to set-up, but it can cost more than other alternatives—which brings us to our next category: Self-Funded Plans!
Self-Funded plan are usually the other category that businesses fall into having, and 
these are usually cheaper than a fully-insured plan—and I should add: Cheaper while within optimal conditions! If your Self-Funded plan has a lot of claims and high administrative overhead it might be more than a Fully-Insured plan, but in the end a Self-Funded plan usually comes out to be cheaper! There also is another incentive to keep in mind if you are open to having a Self-Funded plan: they are exempt from most state premium taxes!
It is worth it to take a look at both with your insurance agent and see if your business would benefit from either! If you have a smaller business that might fall under the thresholds to get one of these plans there are alternatives as well! Help your business and your employees by having the best insurance plan for your needs, and at the best price!
In today’s constantly changing environment we are starting to see that in business: Cash is king. With businesses closing due to severe economic pressure, we are all starting to see that having a reserve of cash is one of the best things to have today! If you own a business and are feeling the crunch, here are a couple Commercial Insurance-related tips that can help you keep afloat:
might not even be an option! If your business is feeling the money-pinch right now, feel free to give your agent a call to see what kind of money you can save!
It’s hard being a small business owner and keeping your business afloat in the best of times, but right now it’s easy to see that it’s even harder to do during a pandemic! Right now businesses around the country are facing unprecedented risks and uncertainty since we do not know how long this will last! Thankfully there are avenues that a small business owner can take to ensure their business’ survival, and the survival of your employees as well!
requirements in order to do so! Loan payments can be deferred up to a year with limited interest (4% per each loan), but as mentioned before you must obey the requirements—such as maintaining payroll for employees making less than $100K a year!
It’s extremely difficult to see anything good coming out of this pandemic while cooped up at home watching YouTube and Netflix—but if you start to look around you will begin to notice that there are some flowers sprouting out of the cracks in the concrete! If you are an admirer of nature you will love to know that global pollution has plunged to levels not seen in a long time! For example in China, the drop in air pollution is said to have saved up to 77,000 people’s lives since the beginning of their lockdowns this past December—a staggering number to say the least!
example has seen an overall drop of 42% in serious crimes, and has even acknowledged the steep decline in general crime in various press releases since the beginning of the lockdowns! We are also seeing a spike in the amount of births around the world, and with parents everywhere being able to work from home we are also seeing a lot of children being able to spend time with family that wouldn’t have ever happened before!
When you own a Pub or Restaurant you begin to realize that the problems you will face are almost as endless as the beer that you must always have on tap! But there are three big problems—or as we should say, Liabilities, that can devastate any establishment, and neglecting any single one of these instances can end very badly!
Just like wildlife, there are many different shapes, sizes, and characteristics with Pubs and Restaurants—and with this being said there are many different things that can affect the cost of a Pub and Restaurant Insurance premium! If you have ever gone through the underwriting process with a hospitality establishment you will know that there are a lot of questions that go into the insurance company’s decision, but each of these questions serve a purpose to find the right level of coverage for you!
requirement for the minimum amount of coverage if you lease a space or if you are in a franchise agreement! It really helps to check with your lease or agreement before deciding on what is the right coverage for your pub or restaurant! It is always better to be prepared than to not—you should never pinch pennies by skipping out on insurance or by getting insufficient coverage, you will always thank yourself for having it when trouble comes knocking!
If you have a liquor license for your business you know that you are in a highly regulated space that has a ton of rules and is much different than if you just ran a place that sold only T-shirts and shoes! You know that there are a certain set of rules and guidelines that you must keep track of to retain your license—and due to this a common liability insurance plan definitely wouldn’t cut it!
St. Patrick’s Day by getting Liquor Liability coverage! You can’t control what your customers do when they leave and are intoxicated—just be sure to speak with your insurance agent in order to cover your Pub or Restaurant from any harm with good insurance coverage!
Owning your own restaurant, pub, bar, saloon, taproom, can be a very fun and lucrative career to embark upon, but you will soon discover that it can be a ton of work too! Establishing a presence, creating a local rapport—and with the usually large initial investment it takes to start-up, things really start to become clear that protecting all of this hard work is key! Luckily, there are ways to protect that using Pub and Restaurant Insurance!
to spoil, it will be a huge hit to your business in many ways—the time it takes to clean them out and to disinfect, restocking it all with fresh food, and the loss of revenue from not having food at that time can really add up! But if you added Food Spoilage coverage to your policy this situation would be a lot less stressful for you and your business!
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