Monthly Archives: May 2020

commercial-package-policy

What Does a Commercial Package Policy Include?

When you manage a business, you must take steps to mitigate risk and reduce liability. Commercial insurance is one of the many tools you can use to do that. A commercial package policy combines individual coverages into a comprehensive and customizable package designed to meet the needs of your business.

What Are Common Coverage Options?

The exact coverage you choose will be based on your specific needs. However, there are some types that are commonly included in a package policy. These are:

  • Business property insurance
  • General liability coverage
  • Commercial auto
  • Business interruption
  • Sewage and drain backup coverage
  • Equipment breakdown protection
  • Industry-specific liability protection

How Does Customization Benefit Business?

The experts at SB One Insurance Agency explain that there are numerous benefits to customizing your commercial insurance coverage. Among the most critical are avoiding duplication, minimizing gaps in coverage, and customizing coverage levels and deductible amounts. You will also be able to include industry-specific policies in your package.

How Do You Find the Right Coverage?

Your coverage needs will likely change over time as your business evolves and grows. Regular comprehensive reviews of the coverage you have in place can ensure it meets your current needs.

The right combination of insurance coverage will protect your business from physical damage, loss and claims made against it. Work with an experienced commercial insurance agent to establish what coverages are right for you.


Day Care

What You Can Expect From Adult Day Care Liability Coverage

An adult day care provides a valuable service to the community. You offer a place where families can trust that their aging loved ones will be safe. To protect your business and your staff, you need solid liability coverage.

General Liability

No matter how careful you are or how safe your center is, accidents sometimes happen. Your general liability policy covers accidents that are not specifically related to the services you provide. It can pay the legal fees and settlements associated with a visitor’s injury or property damage that occurs on your grounds.

Specialized Liability

Every industry has specific risks associated with the services it provides, and adult day care is no exception. There are several adult day care liabilities that your staff may be accused of:

  • Medical malpractice
  • Negligence
  • Poor advice
  • Bodily injury
  • Accounting errors

Even if your staff is not guilty of these errors, clients can still sue for damages they believe they are owed. Whether they are awarded said damages or not, you want to make sure the cost of the lawsuit itself is covered by your insurance provider.

Your adult day care staff is committed to giving clients the best care possible. Protect your staff with good liability coverage that specifically addresses the risks of running an adult day care facility.


Risk Management

3 Ways to Improve Manufacturing Risk Management Plans

Businesses continue to rely on manufactured goods whether packaged foods or healthcare supplies. In addition to having manufacturing insurance in New Mexico, manufacturers need these other key pieces to effectively cover their risks.

Protection

Manufacturing insurance in New Mexico protects more than the building, according to Daniels. The insurance takes into account the office equipment and the machinery used to manufacture goods. When a business faces interruptions due to a malfunctioning piece of equipment, the business has coverage.

Assessment

To properly align your risk management plan, you need to look not just to the past and today, but also to the future. Risk assessment needs to be thorough with the business’s best interests in mind to be valuable. Product development, cybersecurity, emerging markets and cloud computing all pose risks in the future if not managed today.

Ownership

Who owns the risks in various aspects of the business? Do the employees, management or owners? Understanding who owns different risks can help the business address them proactively. This then allows for risk oversight that can save the business financial headaches and limit liabilities now and moving forward.

Protect your business with manufacturing insurance in New Mexico. Then take time to assess your current risk management plan and make sure risk ownership is properly allocated. These steps can improve the business’s ability to move forward into the future.


insurance-marketing-agency

Selecting an Appropriate Insurance Marketing Agency

Understanding the unique insurance needs of your business can be a challenge. In order for your company to stay protected in the face of an array of obstacles and unforeseen disasters, you absolutely need to take time to research your options with insurance coverage. The right agency will be able to take a look at your long-term business goals and assess what your needs are based around the highest risks. By using some of your marketing budget to cover the costs, you can easily work this expense into your routine.

Review and Define Your Goals

As reported by experts at insurance marketing agencies, it is crucial to define your short-term goals before looking into coverage options. Your marketing goals will dictate many of the specifics surrounding the needs of your company and its various promotional campaigns. You may also want to review previous marketing endeavors and projects to get a general idea of what risks your company might pose and what the agency needs to know in advance. These can include:

  • Compiling online customer and client reviews
  • Define and track your active channels
  • Extract valuable data from social media

Take Time To Research

In order for you to select the right insurance marketing agency for your needs, you must take the time to prepare in advance. Review what you need to have in order and get ready to take the next big step toward protecting your company.