A Guide to Choosing Your Business Coverage

Every business should be covered by business insurance. If business owners attempt to proceed without, they are exposing their whole business to serious hazards. When businesses are not covered even by general business insurance, one court case or workplace accident can easily deplete all the company’s resources and force the business into bankruptcy.

If you are a newly established business and you are unsure which business coverage to opt for, you should study the various types of business insurance first. Depending on your type of business and the extent of coverage you prefer, there is an applicable business insurance for you. Some of the most common business insurances are general liability business insurance, umbrella liability business insurance, property or casualty insurance, Business interruption insurance, worker’s compensation insurance, and disability and life insurance.

General liability insurance is the kind of business insurance that will protect you if someone gets wounded inside your business establishment. Any injuries brought about by the product or service you put up for sale is also insured by the general liability business insurance. However, because it is only a general liability insurance there are any exceptions to its coverage so it is suggested that you acquire umbrella liability business insurance. 

When you want a gap filling insurance that covers all the other things not insured by your other types of insurance, the umbrella liability insurance is for you. This is recommended for businesses or companies that is prone to accidents or that has a complex working environment. It protects you from having to be responsible for a whopping amount of fees due to the unpredictable hazards at work.

Property business insurance offers coverage for risks to property such as fire, weather damage or theft. It is advised that you get a comprehensive property insurance, which is the one that indicates to insure all risks or all perils, which covers pretty much everything from natural disasters to human-induced damage to your business property. It is recommended that you find an insurance property that specifies to rebuild the structure keeping in mind its current cost.

If the area of your business is susceptible to having earthquakes, storms, or blackouts that could potentially close your business for several weeks and sometimes months, it is a good idea to get a business interruption insurance. This type of business insurance is best for situations when great hurricanes strike that not only disrupt business but also disrupt lives. Business interruption insurance will cover all your losses from the time the business disruption happened to the time you resume business again once it is rebuilt.

Businesses with employees are required to have workers’ compensation business insurance. It essentially takes care of the all the medical fees and lost salaries of workers who met an accident on the workplace. Compensation for employees who have died or who have been permanently disabled is also covered by the workers’ compensation insurance. 

Disability and life business insurance protects the business against loss of valuable and significant employees because of death or disability. This type of business insurance covers the money associated to the disposition of a business interest upon loss of the key person in the business. If a partner of the company dies with the business all planned out and assured the amount of funds of the insurance can be utilized by the business to purchase the share of key person who passed away.

A special kind of business insurance that can be a combination of the types of business coverage mentioned is called scripted business policy insurance. For companies who are very much complex in structure, this type of business insurance allows them to specify the type of coverage they want. This is common for famous celebrities.

There is no doubt that business insurance gives companies a peace of mind from unexpected loss from lawsuits, workers’ injuries, property damage, disruption in business and death. To keep business operations from going despite these unforeseen events, business coverage is but necessary. Don’t wait until disasters strike before you your business is covered.

The Unexpected

When were in love we always think of something special to show to the person we love that we appreciate him. That we value every bad and good things we shared with him. On our third wedding anniversary I wanted something special to commemorate this event.  That despite of the challenges in life we couple remain strong.

bali, indonesia

Bali, Indonesia

I’ve always wanted to go on a romantic getaway to treat ourselves from daily stress on work. My husband and I discussed it and plan for this trip. And because my husband has no time to organize a trip, so I did all the planning. What I did I choose an island that is safe with good weather, less risk on health problems and I choose Bali, Indonesia.

I choose Bali because of its lovely ambiance perfect to celebrate our anniversary. After days of planning for our itinerary and when everything is packed my husband called me to say that the trip is cancelled. He has to go to the Philippines that day because of a business meeting. I can’t explain my feelings at that moment. I was confused and angry because he knew of our plan and yet he decided to go to the Philippines.

boracay island, philippines

Boracay, Philippines

After that conversation, I grab my purse and stay in a hotel. My husband kept calling me but I just ignore his calls all day. When I knew my husband already left the country I head home and saw a sorry letter and a plane ticket to the Philippines. I was about to tear it but then I saw a catalog about Boracay. I’ve heard of it but I never imagine going there. After reading it I was shocked that I wanted to visit the island.

When we were in Boracay, I was amazed of its beautiful wonders. We went scuba diving, island hopping, and parasailing. We also tried their delicious delicacies. My husband and I enjoy eating grilled seafood’s like squid and tilapia or milk fish. When we are tired from walking around we just laid at the beach while sipping fresh juice or milk tea. Speaking of milk tea, my husband is really fond of drinking this beverage whenever his at home I always make him this refreshment. And if you’re looking for a reliable milk tea supplier visit this page. http://www.pinoyexchange.com/forums/showthread.php?t=728182&p=71235361

We spend most of our time walking around the shores and talking. He knew about the business trip after we plan to go to Bali and he can’t bear to tell me that we can’t go to there so he secretly plan a trip to Boracay so that he won’t ruin our wedding anniversary. And it made me smile then I realized that it doesn’t matter where we are as long as were together and happy. What do you think guys, is my husband is sweet or not? lol