PHONE : 1-888-242-4675 | E-MAIL : Info@insureyourcompany.com
Business Type :
Login
Best In-Class Business Insurance for Technology Firms & IT Consultants
At InsureYourCompany.com, we are dedicated to helping our clients navigate the murky waters that sometimes come with the territory of running a business. One of the major challenges a lot of people have encountered recently is understanding the rapidly changing Affordable Care Act and how the repeal and replacement of it may affect them.
With so much about the fate of the ACA unknown, many employers are wondering how penalties will be enforced and what forms will be required going forward.
We have put together a brief update to help you determine how best to move forward as we wait for more concrete details to emerge. Click the thumbnail below to download the PDF.
If you would like more information or have questions or concerns, please contact Gauri Gupta at gauri@insureyourcompany.com or (732) 832-7997 x2008.
Information courtesy of Emerson Reid. This document is designed to highlight various employee benefit matters of general interest to our readers. It is not intended to interpret laws or regulations, or to address specific client situations. You should not act or rely on any information contained herein without seeking the advice of an attorney or tax professional.
Here at InsureYourCompany.com, we’ve been providing business insurance for small businesses since 2001, including general liability insurance, worker’s comp, commercial property insurance, and more.
But did you know that we also offer employee benefits?
Check out our latest video to see our very own Alan Levenson battle the day-to-day risks that every company faces to help provide group health insurance benefits for small businesses like yours!
Are you ready to start providing your employees with excellent benefits like group health insurance? Contact us today for a free quote! Our experienced team will help you find the best coverage for your unique needs.
If you think losing an employee doesn’t cost you anything, think again. According to a study from Forbes, the average cost of replacing an entry-level employee is about 50% of that employee’s annual salary. And the cost goes up the higher up the ladder an employee is—for mid-level employees, it’s 150% of their annual salary, and for high-level or highly specialized employees, it’s 400% of their annual salary.
So, do the math. If you lose 1 employee each month for a year—6 entry-level employees at $40,000 a year, 4 mid-level employees at $80,000 a year, and 2 senior-level employees at $120,000 a year—the cost to your small business is $1.5 million.
Clearly, high employee turnover could make your business less profitable. That’s a good reason to find ways to improve employee morale, engagement, and satisfaction in order to retain your staff over the long term.
An improving economy is generally good news for your business, but it also means that unemployment is down and employees have more options.
Figures from Ere Media indicate that 1 of every 3 new hires will quit his or her job within 6 months of being hired—and 1 out of 3 make the decision about staying or leaving within their first week on the job. Facing the high costs associated with replacing those employees, almost 4 of every 5 business leaders now rank employee retention as “important” or “urgent.”
Employees leave their current positions for many reasons, some of which you have little or no control over. For example, if someone decides to move to another state, there’s little you can do to change their decision.
But most of the causes of attrition are things you can influence. Among the top reasons employees leave for new jobs are a poor relationship with their boss or coworkers; another job that offers a higher salary or better benefits (like more flexibility or better health insurance); because they’re bored on the job; or because they don’t think their work is valued.
What most of these causes have in common is that they all contribute to poor engagement. According to Gallup’s daily tracking poll, less than 34% of American workers say they are “engaged” on the job.
When the majority of your employees are not engaged, morale suffers. When that leads to high turnover rates, morale suffers even more.
Said differently, if people work at a company where they don’t like their jobs, and where some of their closest friends have moved on, morale is going to be at rock bottom.
The good news is that there are specific actions you can take to improve your employees’ morale—and, in the process, reduce turnover and increase productivity and profitability.
Here are 5 things you can do to improve morale in your small business:
Most organizations spend a lot of time talking about failures, but almost none talking about successes. Take the time to celebrate your employees’ accomplishments! You can make employees a part of the process by asking them—at least once a year—to tell you what they consider their top achievements of the year. You can then congratulate them individually and host an annual event where you read out the top accomplishments of the year.
Doing the same things at the same times every day contributes to boredom and low morale. Find new ways of doing the same things and surprising your workers. For example, you could give them the option of flexible hours, let them perform some of their duties remotely from home, or give them more say into the contour of meetings.
When your employees go home at night, they find ways to unwind and relax. You can help them achieve a better work-life balance by bringing some of that fun into the workplace. For example, the online discounter, FatWallet, invites its 55 employees to a monthly “Game Day” with activities like Trivial Pursuit and bowling matches. Get creative and find ways to let your employees unwind on the job.
Giving your employees an opportunity to perform community service a few hours each month builds camaraderie and morale. Let them choose the service organization they’ll work for, and be sure to pay them for those hours. They’ll come back to work refreshed and feeling good both about what they did and the fact that you let them do it.
If you’re not regularly using employee engagement surveys, you should seriously consider starting. The best way to find out what your workers like—and what they don’t—is to ask them. You can use online services like Survey Monkey to help you create your survey. The key is to take these surveys seriously, let your employees know you take them seriously, and make substantive changes directly related to what your employees are telling you. If they want greater flexibility in their jobs or group health insurance, work with them to turn those wants into realities.
The suggestions above are just a few of the ways you can improve morale among your employees. One of the best ways to boost morale, as we just mentioned, is to give your employees great health insurance benefits.
A good start is to read our free ebook, The Employer’s Guide to Group Health Insurance. This will explain what group health insurance is and how to create a plan for your business.
To learn more about our custom insurance solutions for small businesses in New Jersey and nationwide, request a quote today!
When many homeowners purchase an insurance policy for their new property, they expect that it’s going to provide coverage for just about anything that could go wrong with the house.
Unfortunately, this isn’t always the case.
While a homeowner’s insurance policy should give you some added peace of mind and protect you from most unforeseen disasters, these policies are not meant to cover every single repair and expense related to your home.
Whether you’re looking to buy or have recently purchased a home, being informed regarding what your policy does cover versus what it doesn’t cover will help you to avoid unexpected surprises down the road.
While coverage specifics will vary from one policy to the next (and coverage requirements can even vary from state to state), it is safe to say that most home insurance policies, at the very least, will provide coverage for your home in the event of a sudden disaster or theft.
Pretty much anything that happens suddenly and that results in damage to or a complete loss of your home should fall into this category. Some examples include:
Depending on your policy, you may also have coverage for things like damage from falling objects, flooding from appliance malfunctions, and even power surges.
While your homeowner’s insurance policy includes plenty of coverage for abrupt damage to your home cause by outside factors, it’s important for homeowners to understand that there are also a number of things that generally will not be covered. In most cases, these are things related to long-term, gradual damage that occurs as a result of poor maintenance.
Mold is an excellent example of this. Most homeowner’s insurance policies will not cover mold; this is because mold is caused by moisture problems, such as busted pipes or water leaks that, in your insurance company’s mind, you should have repaired right away to prevent mold growth. Some insurance companies allow policyholders to add this coverage to their accounts at a monthly premium, but even then, mold damage and remediation may only be partially covered.
Termites are another form of gradual, long-term damage that will likely not be covered by your home insurance policy. This is another situation where your insurance company places the responsibility on you to have your home inspected on occasion for pests (such as termites and carpenter ants) and treat for them as needed. By being proactive about wood-boring and wood-eating pests in the home, it is possible to avoid significant (and expensive) structural damage.
For business owners who work from a home office, you should also be aware that damage or destruction of business equipment (such as computers, desks, and other property) likely will not be covered. For this, you’ll need a separate business insurance policy.
Water damage from flooding is a common topic of contention among homeowners and insurance companies. So many homeowners are under the assumption that damage caused by flooding is covered by their insurance, but this is almost never the case.
Homeowners who want this type of protection will need to purchase it separately and at an additional cost. And for homeowners who live in known flood plains, this may actually be required by mortgage lenders in order to obtain financing for the house in the first place.
Finally, keep in mind that even things that are covered by your home insurance company may first require you to pay a deductible out-of-pocket before coverage will kick in, so make sure your deductible is something you can afford.
Want to find the best rates and most comprehensive coverage on your home insurance? Be sure to contact us today to request your free and zero-obligation quote!
Running a small business in the digital age means you aren’t just competing with your geographic neighbors. Depending on the nature of your business, you may also find yourself in competition with companies like yours from across the country—or the world.
With all that competition, how do you make your business stand out?
There are several strategies that can differentiate you from your competitors and help customers find you amidst the noise.
Customer service is one of the biggest factors in setting your business apart from the competition. In fact, New Voice Media estimates that $41 billion is lost each year as a result of poor customer service.
Customers want great service: a company that they can trust to provide them not only with genuine value, but with products that they’ll stand behind. 90% of customers prefer an online customer service option that will allow them to take care of their customer service needs on their own time, rather than being required to call in to a customer service line.
In a world where many products are little more than carbon copies of each other, offering a unique new product or service is the key to attracting customers straight to your business.
Think about your product from your customers’ perspective. What can it do to alleviate a pain point for them in some way? How can you do something different from your competitors? The more different your product is—especially if it goes further toward solving problems for your customers—the greater the likelihood that you’ll make your business stand out.
Maybe it’s that you hand out free samples with every order. Perhaps your services go above and beyond your competitors’. It might just be the information you provide on your website: detailed descriptions, in-depth blog posts, and infographics and other data that provide potential customers with exactly what they need to know before making a purchase.
Whatever the case, when you’re committed to doing more for your prospects, you’ll find that they’re more likely to come to you for all their needs within your industry.
Today’s customers are looking for personalized connections. From marketing emails that are specifically targeted to your customers’ needs to tracking all of their encounters with your company so you can be sure you’re providing consistent information with each communication, today’s customers want you to be more personal. Personalization helps your company stand out from the crowd of competitors.
Whether you offer a guarantee and stand by it or you’re providing a detailed account of exactly what goes into your products, make sure that you’re honest with people. They aren’t interested in false promises or hidden truths. Instead, be open about your business practices and share exactly what ingredients went into your products.
If you support a charity or other organization (and you should—many people are more interested in companies that support causes they believe in), be honest about the percentage of your profits or the actual numbers that are being donated.
And stand behind your products! When something doesn’t go according to plan, make sure you take the necessary steps to make it right. When you’re honest about what customers can expect from your company, customer satisfaction ratings will increase.
There may be plenty of competitors in your market, but that doesn’t mean you can’t make your business stand out. By utilizing these five key tips, you can make your business shine brighter than your competitors, attracting more customers to your doors and retaining their loyalty.
Sports are an excellent way for children to stay active and develop important life skills. Numerous studies have touted the benefits of organized sports during adolescence. But unfortunately, nearly everyone has a sports injury story. This is especially true for contact sports like football and hockey.
After a sports-related injury, many parents wonder if they can sue for medical bills, pain and suffering, and in severe cases, loss of enjoyment and loss of future potential.
In most circumstances, people cannot sue for sports-related injuries that occur during the normal course of a sporting event. If your child plays football, for example, there is always a chance that your child will sustain a particularly hard hit and get a concussion. If they play hockey, a hard slap shot may fracture a bone. A tennis ball to the nose can result in a trip to the ER. We expect these things to happen sometimes, and they are what is known in legal terms as “assumption of risk”.
Assumption of risk is a legal doctrine that means when people engage in dangerous activities, they assume the risk of injury due to things that normally happen in the sport—even if those injuries are due to penalties. For example, fighting is a sanctioned part of hockey. If a player is injured in a hockey fight, they probably can’t sue their opponent in court.
There are some situations where a parent may be able to sue for an injury to their child. The deciding factor is often whether the offending player went outside the bounds of the sport. An elbow the face during a basketball game usually comes with the territory. A player grabbing a chair from the sidelines and beating an opponent with it would obviously give rise to a lawsuit.
Generally speaking, you can sue for intentional acts outside the bounds of the sport, reckless behavior (like skiing while blindfolded), a defective product (like a defective chest protector), or negligent coaching.
Negligent coaching is a common allegation among sports injuries. If a coach puts a player in an unreasonable or dangerous situation, he or she may be liable.
For example, an after-school basketball program is open to kids of all ages. During a scrimmage, a 5-year-old is hurt when a 10-year old runs into him. The 10-year old is much bigger. As a result of the impact, the 5-year-old suffers a fractured arm. In this situation, the coach may be liable for the accident for not separating the players based on age, size, or ability.
Most sports injuries fall within the realm of “assumption of risk” and therefore are not compensable. However, each situation is different and your child may be able to recover for their injuries if they were due to the negligence of a coach or egregious conduct from an opposing player.
When in doubt, of course, it’s always best to consult with an experienced attorney.
Michael Levenson has extensive experience working for insurance companies and in the health care field. Prior to joining InsureYourCompany.com, Michael was an attorney with one of the largest insurance defense firms in the country where he specialized in health care law and previously served as the judicial law clerk to a judge presiding in the New Jersey State Superior Court.
Mr. Levenson earned his Juris Doctor degree from Albany Law School with honors. While in law school, he served as a Constitutional Law Teaching Fellow and worked at Albany Law School’s Civil Rights and Disabilities Law Clinic, where he dealt with a myriad of health care law issues.
Have you read the news lately? Cyber attacks are becoming increasingly common—and unfortunately, hackers are becoming increasingly savvy.
Just a few years ago, small businesses were rarely targeted. Now, they are considered prime targets for many hackers who know that owners like you probably don’t have the extensive budget for security often found in larger businesses.
While you can’t close every gap in your security, implementing these five vital processes will help you prepare your small business for the next wave of cyber attacks.
Industry compliance often lags behind true security—and in today’s tenuous digital climate, simply being compliant isn’t enough to keep your small business safe.
You may hire a security company every year to audit your systems and ensure your compliance. But are you going above and beyond what’s absolutely necessary, taking their recommendations and filling in holes throughout your entire business? If not, you’re leaving your business wide open for a cyber attack.
Instead, make a habit of going beyond the minimum in order to ensure a more effective security strategy for your business.
You don’t want to think of your employees as potential security hazards, but in fact, they can be one of the biggest security holes in your business. Take the time to train every employee in proper online security, from creating passwords that are harder to crack (or using two-factor authentication instead of traditional passwords for company networks and systems) to avoiding unsafe links and spotting phishing scams before they give out important information.
Your employees can be either your greatest security weakness or your company’s strongest line of defense—and your training can make the critical difference.
When a hacker locates a new exploit, most companies work to patch the problem as quickly as possible. If you aren’t updating your software regularly, however, you won’t be able to take advantage of that fix!
Make sure that you have a policy in place to update your software regularly. Talk to your IT department about staying on top of new security problems so that they can push through updates when necessary in order to keep your company safe. Software that hasn’t been patched can leave your business wide open to attack—and that’s the last thing you want.
The financial impact of a cyber attack can be devastating—and you can’t guarantee that you can close every security hole in your business no matter how hard you try.
By purchasing cyber insurance, you gain both financial protection and legal advice you can rely on to provide you with the vital advice you need when your business falls victim to an attack. Plus, going through the process of obtaining this coverage will help you get a 10,000-foot view of your business, as it will prompt you to answer questions such as:
Don’t leave your business’s security to chance! Instead, purchase cyber insurance that will protect you in the event of an attack.
One of the worst parts of a cyber attack is your inability to do business while you’re dealing with the aftermath.
Creating a contingency plan will enable you to get vital functions back up and running faster. This might include a cloud server that will allow you to quickly shift your business to another location in the event of a disaster or data backups that will provide you with the information you need to continue doing business despite the attack.
Cyber attacks are terrifying for both small and large business owners. If you want to provide a deeper layer of protection for your small business, contact us today to learn more about cyber insurance and how it can help you keep your business financially stable following a cyber attack. You can’t guarantee that you won’t be a victim, so don’t leave it to chance! The next cyber attack could come from any corner.
When you are operating a business in New Jersey, it’s important to explore your commercial property insurance options. Property insurance will provide you with financial protection and help you to avoid legal issues related to incidents that occur at your physical location.
There are several ways to get the best property insurance rates to stay within budget while still protecting your business.
It’s important to understand that property insurance is required for every type of property you conduct business on.
If you are a small business, you might do business from your home. If this is the case, you cannot depend solely on homeowner’s insurance to provide financial protection. You will also need to add property insurance so that you have a greater level of coverage for things like your business equipment.
If you have a physical address for your business, commercial property insurance is definitely a must-have. The complete level of coverage will depend upon whether you own or lease the property. Lienholders might have specific requirements as to the level of coverage that you need. As you begin to shop property insurance rates, it’s important to know what these requirements are.
Finally, if you conduct business at various properties, you might need temporary property insurance. This is particularly true if you are an event coordinator or catering company.
Various discounts are available for property insurance. You should take the time to explore the discounts offered by individual insurance companies. Many will provide you with what is known as a “multi-line” discount. This is available to you if you have more than one type of insurance from the insurance company. It’s their way of rewarding you for your loyalty.
You might also qualify for discounts if you are within a specific industry or belong to a particular organization. For example, members of teacher’s associations or military organizations may qualify for discounts from different insurance companies.
It is critical to look at the different insurance companies that will write policies in New Jersey. As you familiarize yourself with the companies, you will be able to learn more about the discounts that are offered.
Every insurance company is different in one way or another. They might offer different property insurance products. They might have a different way of factoring in the various aspects that are used to calculate the cost of insurance. Additionally, some insurance companies are going to have better reputations than others.
It’s a lot to try navigating on your own, which is why you should work with a professional insurance agency.
Insurance agencies and brokers work with multiple insurance companies. The benefit to working with such a partner is that you will get a better overview of what your options are. They will learn about your business in depth and determine the type of property insurance that you need.
Plus, insurance agencies can shop around on your behalf to make sure you have enough options to choose from. From there, they can help you to explore the best property insurance rates in New Jersey so that you save more money.
You need to find a healthy balance between good coverage and affordable rates. Often, businesses try to save money by skimping on their insurance coverage. The problem with this is that it leaves you vulnerable to liability issues. If you have a claim filed against you, you want to know that your property insurance will protect you. The same is true if there is a break-in on your property or some other kind of unpredictable damage.
Having peace of mind that you can file a claim is priceless. With a little effort and a little assistance, you can obtain the best property insurance rates for your business in New Jersey.
Your small business is growing. At long last, you’ve finally met a major milestone: you’re able to move your business from your home office to an actual brick-and-mortar office!
While you’re excited about this momentous change, you’re also anxious about making the transition and ensuring that you’ve done everything correctly. Make sure that your transition moves smoothly and that you still have everything your small business needs by paying attention to these key details.
When you transition your small business to an office environment, your insurance needs are going to change. In your home-based business, you may have carried insurance that would protect your equipment or that would protect you in case business associates visiting your home had an accident on your property.
As you make the transition to an office environment, your insurance needs will change. Make sure that you have insurance that will cover:
Talk with your insurance provider to ensure that you have the right type of coverage to take care of your business no matter what happens. From policies that will cover natural disasters to policies that will cover you in case of legal issues, make sure you have business insurance that will fit the changing needs of your business.
For years, you may have handled most of the needs of your business yourself or with employees who are also members of your family and therefore trustworthy.
Now that you’re transitioning to an office environment, however, you may have broader needs for your employees—and the security that comes from knowing that they won’t be working inside your home.
Ask yourself these key questions:
Your need for employees will continue to change as your business grows. Evaluating those needs now, however, will help smooth your transition.
When you’re ready to move your small business into an office environment, you want to choose the right setting for your office. Don’t choose it just because it’s cheap! Instead, examine your area to find the perfect place for your office.
These questions can help:
Transitioning from home to an office with your small business is a big step. We’re here to help! If you need to know more about evaluating your insurance needs as you make the transition to an office environment, contact us to learn more about what we can offer to protect your small business from disaster.
As a small business owner, you wear many hats and perform many duties over the course of a normal business day. You might need to be a negotiator, a salesperson, a marketer, and a handyman—all in the space of a few minutes, much less a few hours!
The staff you choose for your small business are critical in helping you meet your business goals and ensuring that you have the help you need day to day. Sometimes, however, you may opt to not hire more staff in the interest of saving money—and as a result, your business suffers.
So, is your small business understaffed? These signs may suggest that you need more employees to help meet your needs.
If you have more business than you can handle, it’s a huge red flag that it’s time to hire more employees! Feast is always better than famine, but your business can’t continue to grow when it exceeds the workload that you and your current staff can handle.
Not only that, but if you’re turning new business away due to a lack of resources, hiring a few new staff members may actually increase your income rather than taking away from it, as you’ll be better equipped to take on new customers or clients.
Sure, there are plenty of things that you’ll need to do yourself as a small business owner, especially in the early days of your business. As your business grows, however, you’ll have to learn to evaluate the work you’re doing and hand some of it off.
Could someone else do it more effectively? Are you spending too much time struggling with tasks would be better handled by someone else with more experience? Keep in mind that your time is valuable and will only become more precious as your business grows. Increasing your existing staff might help your workday flow much smoother.
Your customers may be used to receiving a personal touch from your business. As your business grows, however, you will have less time to spend on each customer individually. And if you’re producing goods faster and faster to meet demand, your quality may also decrease as a result.
Don’t find yourself trapped by this cycle! Instead, hire the staff you need to keep providing high-quality goods and/or services to your customers.
If you and your current staff are constantly running around feeling as though you’re laboring under a heavy load, it could be a result of understaffing.
Take a look at your workload and the workload being carried by your staff. Is it excessive for any or all parties involved? If so, hiring more staff will significantly reduce workplace stress and make your small business a better employer for everyone—not to mention a smaller source of stress for you.
When was the last time you updated your software? What about your passwords? Have they been changed recently? Small businesses are now more at risk for cybersecurity attacks than ever before—and those aren’t the only details that you’ll start to miss if you’re constantly overworked.
Fixing your understaffing problem is the best way to be sure you’re keeping up with all those important details that will help your business flourish and stay safe.
Understaffing is a serious issue that can cause a great deal of harm to your small business. Fortunately, it’s not too late to correct those problems! It’s time to increase your existing staff and make the changes that you need in order to help your business continue to serve your community.
Adipisicing elit, sed do eiusmod tempor ncidi quia conseq uuntur magni dolores eos qurti uptatem sequi nesciunt.
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute iruLorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod
InsureYourCompany.com has been treating clients like family for over 15 years. You’ll never have to talk to an automated phone system—we have business insurance experts ready to provide personalized customer service, not only helping you with your insurance and employee benefits needs, but showing you how to be a smarter business owner.
If you are in the IT industry InsureYourCompany.com is the insurance agent you want to work with, we are technology insurance experts and have changed the way you do business. See below a list of professionals who we help today.
Lorem ipsum, or lipsum as it is sometimes known, is dummy text used in laying out print, graphic or web designs. The passage is attributed to an unknown typesetter in the 15th century who is thought to have scrambled parts of Cicero's De Finibus Bonorum et Malorum for use in a type specimen book. It usually begins with:
We believe in supporting our clients through every step of the insurance process. From choosing the right coverage to filing a claim, we are here to offer guidance and support. Request a free quote today and get coverage that meets your unique needs.
