Portugal Travel

Small Business Insurance Testimony
Besides your attorney and accountant, another professional to be incorporated during the process of forming his new company will be your insurance agent. It may be useful to have an agent handle your insurance needs. The market offers insurance policies specifically designed to provide coverage to small businesses and that in one package will cover your insurance needs.

Insurance will not only be important to you, but also for their other business relationships. For example, if you choose to lease office space, the landlord will typically require a certificate of insurance or be listed as additional insured on your policy to ensure that your company will not disappear overnight in case of an accident.

Some of the risks to be covered by insurance are:

Insurance against damage to tangible property company

This type of insurance should include comprehensive coverage designed to protect against a variety of risks. Your  Business insurance policy should include:

Buildings. Coverage would be required if you own the building where their business. In the event you lease premises, your landlord should provide this coverage.

The assets of the company include tables, desks, chairs and equipment. You also want to include the improvements made in the leased property. An example of this would be a room divider that builds inside the building, an exhibition area or a meson made as installed in the customer reception area.
Loss of income.

Remember that an all-risk policy can cover all its teams, which provide the computer hardware and software, plus your valuable records. A properly written policy will include loss of income that might result from breakdowns, as well as other risks that could disrupt its operations temporarily.

Liability Insurance

A civil liability insurance against all risks is to provide coverage to third parties in respect of:
Personal Injury and Advertising Injury

Fire Legal Liability, which is often mandatory if you lease susinstalaciones. This protects you if your negligence results in damage or loss affecting the good of his landlord. For example, you mistakenly leave a small electric heater and goes home at the end of the day. At night, the heater shorts and starts a fire, where fire and smoke damage to property. In this case, the loss was caused by the negligent act of leaving on the stove. This is where the fire insurance protects your investment.
Products and Completed Operations

Expense or medical payments

Overall responsibility for their facilities. The best illustration is the common "tripping due to a torn carpet, causing physical damage."

In some cases, some policies will exclude coverage for products and completed operations and / or personal injury and advertising injury, depending on the services provided by your company. In these cases you must have a policy of professional liability, professional negligence or errors and omissions specific to your business that will cover for errors and omissions that may result in legal action against your company. This applies particularly true of professions subject to a greater degree of care or standards, for example, lawyers, engineering consultants, insurance agents, realtors, doctors and dentists.

Workers' Compensation Insurance

If your business has employees, workers' compensation insurance is required. In general, the needs of a company that began its operations can be covered by state compensation fund. As the company grows, you can "explore the market in search of better prices for the coverage. Moreover, some insurers offer additional accidents such as risk management and loss control services that may be beneficial for your business. These services are usually very helpful, as they reduce claims costs in the long term. Do not confuse risk management with their responsibility for risk. The insurance company should assume 100% of the risks under the worker's compensation insurance.

Other insurance
Car insurance for company vehicles. (Civil liability, all risks, accidents and uninsured motorists / underinsured).
Health insurance plans tailored to the size of your business (benefit: this coverage is an advantage when recruiting good employees).

Complementary insurance surplus

Liability limits are available above the ceiling may provide your insurer and can be accessed in two ways:

In general, the additional coverage for risks not covered can be added for an additional cost to the respective policy on the basis of amounts of USD 500,000 to USD 1 million, sometimes up to about $ 5 million.
Acquire what is called a "commercial insurance coverage, which provides additional coverage to most of the basic policies, including trade policies, trade policies and institutional auto policies against accidents.

ALWAYS REMEMBER: The insurer has chosen to offer lower limits, which is attractive from the point of view of the premiums payable. However, savvy business owners should contemplate liability limits of at least $ 1 million. Typically, the additional cost is reasonable and appropriate, considering the difficult business environment of today.
Example: You, the employer suffers a car accident in which it is determined that you committed a foul. Moreover, because of the accident, the person concerned is paraplegic. This type of accident can result in a multimillion-dollar decision against him.

Coverage Employment Practices Liability

Insurance Employment Practices Liability coverage is starting to become popular among companies and includes premiums that exceed $ 2,000 per million dollars of coverage. Although it is highly unlikely that accidents occur on labor practices in small businesses, the threat of dismissal improper or sexual harassment lawsuits, which are excluded from most commercial policies, increases as the company grows.

Life insurance

As mentioned earlier, if you have a partner, the repurchase agreement may be funded by life insurance in case of death of a partner. The amount of this insurance may increase as your business grows.