Own a Small Business? Insurance is Vital

From the day a small business owner begins operations, he or she becomes exposed to certain risks that must be faced. Even before the first customer is served or the first transaction is conducted, it's vital that the proper small business insurance be put in place for the protection of the you, the owner, plus your employees and the business itself.

A single lawsuit or other catastrophic event could take out your small business before it's even had the chance to get off the ground, and if you're held liable for any significant loss it could negatively affect the rest of your life. Fortunately, there's a wide variety of insurance coverage options that offer you protection against the effects of these risks. Buying small business insurance protection should, therefore, be at the top of your to-do list when embarking on your small business enterprise.

What Exactly Do You Need?

You need property insurance to protect you from losses to your building that are caused by things such as fire, storms or vandalism. If you rent your building, you still need coverage to protect the equipment, stocks and supplies kept in the building in the event that something happens to damage or destroy them.

You also need general liability coverage to protect your interests in case someone, including an employee, becomes injured while on your property. Employees must also be covered by workman's compensation insurance in North Carolina if a business employs three or more employees, full- or part-time. You may also want to consider providing disability coverage to your employees.

How Much Liability Coverage Should You Have?

Although every small business is different from the next, the rule of thumb for general liability insurance here in NC is between $500,000 and one million. If you're operating a higher risk operation, such as one of the building trades, it's recommended you increase these limits. The same goes for businesses with a high customer interaction rate such as restaurants or retail sales. Even if you're running a small business out of your home you should have business insurance, keeping in mind that renter's or homeowner's insurance typically provides limited coverage for business liability and business losses.

Additional Coverage Options

In addition to property and liability insurance for your small business, additional optional coverage includes:

• Product liability insurance
• Company vehicle insurance
• Business interruption insurance

Check with your agent for details and coverage advice.

Understanding the Greensboro Auto Insurance Claims Process

It's important for individuals buying Greensboro auto insurance to:

• Read and fully understand your auto insurance policy as it relates to your specific coverage, rights and responsibilities. Any questions you have should be directed to your insurance representative for clarification.
• Learn what steps you need to take in the event of an accident or other loss regarding your vehicle. Don't wait until it's time to make a claim to learn what's required.

The following information may be helpful in educating you about the Greensboro auto insurance claims process.

To Claim or Not to Claim

The only time you may want to consider NOT filing a claim when your vehicle suffers some type of damage is when the amount of said damage is less than the amount of your deductible. Even if the cost of fixing the damage is only slightly more than the amount of your deductible, you may want to pay the difference out of your own pocket just to keep from having that minor insurance claim on your record.

When involved in a vehicle accident where there's an injury or property damage, you need to report it to your insurance agent or insurance company as soon as possible, regardless of who is deemed at fault. The limit most insurers put on reporting an incident is seven days, although it's best if you can contact your insurer immediately, even while at the scene. This not only lets them open your file right away, but also lets them guide you through the entire Greensboro auto insurance claims process.

Calling the Police

State law in North Carolina requires that drivers involved in a vehicle accident notify the appropriate law enforcement agency by the quickest means possible if:

1. There are injuries to anyone involved
2. Someone dies
3. Total property damage equals $500 or more

Even if none of the three above apply, it's a good idea to call the police so an accident report will be filed. When notifying your insurance company of your loss they will require certain information that you should have collected at the scene, including:

• Name of drivers and registered owners of other cars involved
• Insurance company name/policy number
• Full details of the accident, including date, time and location, extent of injuries, extent of vehicle damage, passengers involved, names and contact info on any witnesses, name and badge number of the investigating officer and your description of what occurred

6 Solid Strategies For Low Cost Car Insurance Quotes Online

It used to be that getting car insurance quotes meant going through the Yellow Pages and calling a number of insurance company representatives looking for the best deal you could find. This process could be time-consuming and frustrating. Another alternative was to get a referral from a friend or family member of an insurance agent who had given them great service and rates.

Today, however, most people seeking car insurance quotes go to the Internet first for information. Statistics gathered by J.D. Power show that approximately 74% of car insurance shoppers go to insurance company websites or aggregators – companies that provide comparison rates from a number of insurers – to get their quotes or conduct their research.

Using a company that has access to multiple insurance companies can take a lot of the work out of car insurance shopping. Why not let them do the initial work for you? Then, when you've narrowed it down to a few different insurers, you can choose which one offers the policy best suited to your needs. There are some things you can do to ensure you get the best protection at the best rate. Hopefully this advice will make your job of getting the best coverage as successful as possible.

Solid Strategies for Getting Low Cost Car Insurance

1. Always compare at least three or more companies' quotes.
2. Always compare “apples to apples.” You'll only get a fair comparison on policies if the coverage is basically the same on each, with the same deductible and the same coverage benefits.
3. The best policy isn't necessarily the cheapest policy. Your goal isn't to get the cheapest policy but, rather, the best rates on the policy that's exactly right for you.
4. Choosing a higher deductible can save you premium dollars, but don't make it so high that you wouldn't be able to realistically pay that amount if you had to make a claim.
5. If your driving record has blemishes, consider adding someone who has a squeaky clean driving and insurance-claims record to your policy as a secondary driver (with their permission). This can help lower your policy costs.
6. Make sure you're not adding benefits to your car policy that you're already carrying from elsewhere, such as benefits on your homeowner's insurance or your bank account or credit card.

Do your homework and use these and other available tips to obtain the best coverage for your needs.