BUSINESSOWNERS INSURANCE
Owning a business in this state, may require insurance coverage to protect your company assets. Depending on the type of company that you own and the details of your services, it may be useful to work with an independent agency like Mainstream Insurance Services to identify the appropriate coverage for your business.
General Liability Insurance
Liability plays a key role in any business. General Liability (GL) policies provide protection against financial losses if you are sued, if an individual is injured, or if you are otherwise responsible for wounds that an individual faces. The amount of coverage you may need can depend on the number of potential risks. Even an accidental slip and fall on your company property may result in financial charges to pay for medical bills, so most businesses will need some protection.
Business Property Insurance
Keeping your business property safe depends on the amount of property and the type of building. Even vacant land may need protection against vandalism or similar problems. You will want coverage to protect against fires, theft, vandalism or any other source of potential damage to your company property.
Commercial Auto Insurance
In this state, you are required to purchase auto insurance coverage for any vehicle that is on the road. As a company, you may need a commercial policy that covers every potential driver and all of the vehicles that are owned by the business. The amount of coverage you need may vary based on the services that you provide.
You may be eligible to keep your vehicle under your personal auto coverage if you are an Artisan Contractor and you use your vehicle everyday to haul equipment to your job sites.
You may be eligible to keep your vehicle under your personal auto coverage if you are an Artisan Contractor and you use your vehicle everyday to haul equipment to your job sites.
Workers Compensation Insurance
Employees within your company may be injured on the job, particularly in high-risk industries. Workers compensation insurance is designed to pay for medical bills, lost wages and similar related expenses when an employee is injured at work. You are required in this state to purchase workers compensation insurance if you have employees in most circumstances.
Businessowners Policy BOP
A BOP is also known as a business owners policy. It is a basic policy that will offer coverage for company property and basic liability. It may be useful if you are not sure about the best plan and want some protection.
Every company needs some protection against potential problems. Depending on the company assets, concerns and potential risks, the amount of coverage that you may need can vary. The best way to find a plan that is appropriate for your business is with the help of an independent agency like Mainstream Insurance Services because you can ask questions and learn more details about the options.
Every company needs some protection against potential problems. Depending on the company assets, concerns and potential risks, the amount of coverage that you may need can vary. The best way to find a plan that is appropriate for your business is with the help of an independent agency like Mainstream Insurance Services because you can ask questions and learn more details about the options.
Self-Employed Disability Insurance
Self-employed workers don’t have the same luxuries as salaried employees when it comes to sick days and disability leave. Usually, if you’re not working, you’re not getting paid. But long-term disability insurance for self-employed workers is often overlooked because they don’t understand how it will benefit them. Long-term disability insurance provides income protection, bringing in money when you can’t work so that you’re able to continue to pay bills and keep your business out of danger.
Long-term disability insurance is important. Even though self-employed workers may have to do a little more legwork initially to get a policy in place, it’s a simple process when you have others working with you to get you through the financial underwriting. An independent agency like Mainstream Insurance Services can help you determine the necessary documentation so you get an accurate rate for your policy.
Long-term disability insurance provides a lot of financial benefits for self-employed workers. But one of the biggest benefits is one you can’t see: the peace of mind it provides. The most important thing when you’re disabled is focusing on your recovery. Depending on the ailment, that can be a full-time job on its own. You don’t want to be weighed down by the worries of whether or not your business will be financially okay or how you’ll pay your bills or if you’ll need to rush back to work before you’re healed.
Long-term disability insurance is important. Even though self-employed workers may have to do a little more legwork initially to get a policy in place, it’s a simple process when you have others working with you to get you through the financial underwriting. An independent agency like Mainstream Insurance Services can help you determine the necessary documentation so you get an accurate rate for your policy.
Long-term disability insurance provides a lot of financial benefits for self-employed workers. But one of the biggest benefits is one you can’t see: the peace of mind it provides. The most important thing when you’re disabled is focusing on your recovery. Depending on the ailment, that can be a full-time job on its own. You don’t want to be weighed down by the worries of whether or not your business will be financially okay or how you’ll pay your bills or if you’ll need to rush back to work before you’re healed.
Key Person Insurance & Entity Redemption Plan Insurance
New events can cause more turmoil in a small business than the death of an owner. Besides the personal loss, there’s the practical loss of a key asset and the question of ownership going forward.
A life insurance payout can provide operating cash to get the company through a tough time. It can also help the surviving owners buy a late partner’s share from his or her heirs. Arrangements like this are often set in a buy-sell agreement, one of the most important documents in any business partnership.
Buy-sell agreements are like prenups. They’re legal contracts between business co-owners, detailing how the ownership transfers if one partner dies, becomes disabled or leaves the business. Creating an agreement is one step in the succession planning process. Funding is the other. That’s where life insurance for business owners comes in.
A life insurance payout can provide operating cash to get the company through a tough time. It can also help the surviving owners buy a late partner’s share from his or her heirs. Arrangements like this are often set in a buy-sell agreement, one of the most important documents in any business partnership.
Buy-sell agreements are like prenups. They’re legal contracts between business co-owners, detailing how the ownership transfers if one partner dies, becomes disabled or leaves the business. Creating an agreement is one step in the succession planning process. Funding is the other. That’s where life insurance for business owners comes in.
