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Best In-Class Business Insurance for Technology Firms & IT Consultants
Small businesses make the world go ’round, and sometimes they can even help make it a healthier place. For the first installment of our Spotlight Series, we interviewed the founder of a company who is doing exactly that, one bar of soap at a time.
Founded in 2012, b.a.r.e. soaps creates gorgeous soaps, candles, and bath bombs using all natural, sustainably sourced ingredients. They are also dedicated to building long-term sustainability and health programs for children and women abroad, including Kaberamaido, Uganda and the Kalwa slum in India.
Check out our interview with founder Jessie Yoh to learn more about b.a.r.e. soaps and the unique challenges she faced as a new business owner trying to get her company off the ground while doing good around the world.
Want to support Jessie and b.a.r.e. soaps? Visit them at bare-soaps.com to learn more!
If you’re in the IT industry, your business faces a number of unique challenges. If you want to be sure that you’re able to make the most of the opportunities in front of you, it’s important that you take the right steps to tackle those challenges head-on.
Is your business dealing with any of these common challenges for IT professionals?
Customer service presents a number of challenges to any business, but in the IT industry, you face even more difficulty. When it comes to technology, customers get frustrated fast when it doesn’t work as expected! Not only that, they expect you to have all of the answers immediately—and they don’t like knowing that half of your job is Googling solutions behind the scenes so that you’ll have an answer to offer them.
When you’re dealing with customers who have to be transferred for any reason, you also have the potential to increase their frustration with your company. By facing the most common customer service concerns up front, however, you put your business in a better position to deliver the excellent service your customers need.
How are you managing your employees? If your IT team lacks an effective human resources manager, you may find small conflicts quickly escalating—especially if your IT team is simply a small part of a larger business. By hiring a great human resources team, or even a single individual, you’ll increase the likelihood that your team will work smoothly together.
Unfortunately, it’s also necessary to integrate those human resources suggestions with your daily business—and IT employees are notorious for their general dislike of bonding activities. Taking the personalities in your team into consideration will help ensure more successful meetings.
Budgets are an ongoing challenge for any organization. Where should you focus your funds? How does the way your money is spent help shape your business goals?
Your budget should include room for things like small business insurance that will protect you in the result of a mistake, health insurance for your employees, and more—and figuring out how to balance it can be a challenge! By carefully considering your goals for the year, however, you can build a better budget that will help your business perform better.
IT companies, like many others, struggle with communication. How do you communicate with your employees? Do you use different platforms based on the type of communication?
It’s often effective to establish the proper channels for communication: Do you prefer email, texting, or phone calls? Are you more responsive when you’re able to speak with employees in person? The clearer your communication protocols, the easier it is for employees to reach out to you with problems and concerns.
On the other hand, it’s equally important that you take the time to reach out to employees and share information with them, rather than simply letting the office grapevine take over.
Your marketing is the vehicle through which you meet new customers, keep old ones, and ensure that you’re able to keep a steady stream of business coming in. As an IT company, you likely keep your focus on digital marketing efforts: email marketing, social media, search engine optimization, and more.
Staying at the top of your industry is an ongoing challenge. You want to be sure that when companies come looking for IT support, they’re able to find you with ease—but that’s not always as easy as it seems. Your marketing strategy should include both inbound and outbound marketing and incorporate a wide range of techniques to allow you to reach as many businesses as possible.
While we can’t solve all of the challenges your IT business will face, we can help provide the insurance you’ll need to help get you out of a bind or to protect your employees. Contact us today to learn more about the benefits our team can bring to your business.
It’s any car owner’s worst nightmare: you get to your parking spot and find that your car has been stolen! Unfortunately, vehicle theft happens more often than you might think, with a theft occurring in the United States about once every minute.
If you’ve discovered that your car has been stolen, your first instinct may be to panic. And while that urge is perfectly understandable, it’s important that you compose yourself and take the necessary steps to document your vehicle theft with the police and report the incident to your auto insurance company.
The sooner you act, the sooner you can get back behind the wheel.
The first step you need to take is to call your local police department to report the theft. This serves two purposes. First, the police department will be able to provide you with a stolen vehicle report, which your insurance company will ask for when you go to make your claim.
Furthermore, notifying the police of your vehicle will allow local patrol officers to keep an eye out for it. While not always likely, there is always a chance that police could recover your vehicle!
Next, you need to contact your auto insurance company to report the theft to them. Most auto insurance companies these days allow you to submit claims online or over the phone 24 hours a day.
It’s important that you notify your insurance company that your car was stolen even if you don’t have comprehensive coverage that covers vehicle theft, as you’ll still want to make sure you’re protected in the event that the person who stole your vehicle causes damage to other property with your car.
Another important part of letting your insurance company know about the theft is officially filing your insurance claim. The specific documentation required to file a claim can vary from one insurance carrier to the next, but there are a few things you will probably have to provide in order to make your claim.
For starters, you’ll definitely need a copy of your vehicle title, as well as a copy of your police report. A detailed description of your vehicle will also be collected by your insurance agent; this may include details on:
If there was any personal property in your vehicle at the time of the theft, you may also be asked to submit an itemized list.
If your vehicle has been stolen, hopefully you have comprehensive coverage in place that covers theft; the right coverage will provide reimbursement for a replacement vehicle that is worth at least as much as the current market value of your car. Keep in mind that this will likely not be the price you paid for the car when you bought it, as depreciation will need to be factored in.
Depending on your coverage, you may also be entitled to a temporary replacement in the form of a rental vehicle until your claim is approved and you can purchase a permanent replacement. This is great coverage to have, as the claims process for a stolen vehicle can take some time.
Experiencing a vehicle theft can be a scary, unnerving thing; however, with the right coverage and by taking the right steps immediately after the theft, you can get through this difficult time and get back on the road.
For more information on insurance coverage for auto theft or to make sure you’re properly covered, contact us today.
If you own a small business, you might think you’re immune to cyberattacks. After all, you reason, why would hackers be interested in your business when there are far bigger, more attractive targets for them to focus their efforts on?
The fact is, a substantial portion of cyberattacks target small businesses just like yours. Perhaps it’s because your site houses sensitive customer financial data, like credit card numbers. In some cases, it’s because they can use your site to invade your customers’ computers—and much of the time, it’s simply because these attacks are automated, concerned less with the specific value of a given website than with its vulnerability.
According to data compiled by Small Business Trends, small businesses are just as susceptible to cyberattacks as their big business counterparts. Consider the following metrics, for example:
Those costs are unsustainable for most small businesses, something Congress has finally begun to understand and do something about. They’re currently attempting to pass new legislation, the Main Street Cybersecurity Act, the goal of which is to give small businesses the tools they need to improve their cybersecurity.
As Republican Senator John Thune (one of the bill’s sponsors) noted recently when discussion the legislation:
“Cyberattacks can have catastrophic effects on small businesses and their customers. This legislation offers important resources, specifically meeting the unique needs of small businesses, to help them guard sensitive data and systems from thieves and hackers.”
Currently, the National Institute for Standards and Technology (NIST) offers tools to protect businesses, but these are cost-prohibitive for most small companies, and they require highly-skilled technicians for implementation—the kind of in-house staff most small businesses don’t have. The new legislation seeks to provide tools and other resources better geared to the needs of small and medium-size businesses.
The new legislation will leave in place the National Institute for Standards and Technology, which will continue to offer businesses tools and resources to increase cybersecurity. If the bill passes, however, NIST will be specifically directed to focus to a much larger extent on the cyber needs of small businesses, providing them with tools customized to their needs and budgets.
In addition, the bill will move NIST to expand adoption of the Cybersecurity Framework, intended to help businesses meet their cybersecurity goals. Currently, about 30% of U.S. businesses are using the framework to manage their cybersecurity needs. The goal of the legislation is to move that number to no less than 50% by 2020.
Although it’s not possible to predict the precise impact of the Main Street Cybersecurity Act, should it pass, its goals are clear. Most observers agree that those goals are attainable.
Among other things, the bill will provide educational resources for small businesses. Currently, for example, the problem for many small businesses is the lack of internal staff who have the expertise to implement tools like the Cybersecurity Framework. If passed, the new legislation will provide small businesses with educational resources to simplify the process, likely to include educational videos on the nature of phishing scams, basic information technology “hygiene,” and cybersecurity incident response strategies.
As noted above, the bill also aims to make new resources affordable for all businesses. The hope is that already overworked small business IT teams will be able to harness the power of the new tools without a substantial increase in workload. The bill will provide a wealth of new tools and resources, but businesses will be able to pick and choose only those which they really need and can afford.
The current climate in Washington is such that it’s not possible to say if—or when—the proposed legislation will become law. It is important to note, however, that the bill currently has bipartisan support in Congress and is endorsed by the US Chamber of Commerce, increasing the odds that lawmakers will successfully move it through the House and Senate.
Taking the steps necessary to protect your small business from cyberattacks is an important step to protect your business and help it succeed—but it’s not the only one. You also need to secure proper insurance coverage and documentation. To learn more about our custom insurance solutions for small businesses in New Jersey and nationwide—solutions which will help your business succeed and grow—contact us today.
There was little doubt that the Affordable Care Act was going to open up a lot of questions for everyone at its inception as insurance companies, individuals, and healthcare providers all struggled to comply with the new rules.
Of course, things haven’t gotten any clearer since then. There has been a lot of tension in Congress surrounding the act, and questions of repealing and replacing it remain unanswered. But as each change and challenge arises, small businesses still have to reevaluate their strategy and perhaps even their budgets to meet the current federal and state expectations.
So let’s explore what’s on the horizon for 2018, and how small business health insurance is expected to be affected.
As of the writing of this post, the open enrollment period for the ACA is just wrapping up for the year. In the past, this open enrollment period would last until the end of January, but this was recently changed. There are still plenty of plans on the market today, and most Americans should be able to find a reasonably priced plan that works for them.
In fact, a full 80% of those enrolled in the ACA should be able to find a plan for $75 a month or less. Those looking for coverage can still use the regular websites to sign up for coverage, or they can use an approved third-party website this year. Employees are still able to compare different coverages online as well.
Each employer has their own timeframe when it comes to open enrollment in group healthcare plans, so it’s important for small businesses to understand when they’re deadlines loom.
Small businesses are still considered Applicable Large Employers when they hire more than 50 workers to work 30 hours a week or more. If you fall under this category, you will need to offer the Minimum Essential Coverage (MEC) to employees, which is defined as the Bronze level of coverage. A Bronze plan is defined when the insurer covers at least 60% of healthcare coverage in order to meet the MEC.
The major changes for this year are tied up in the cost of each level of coverage (e.g., Silver, Gold, Platinum). Each state is experiencing different changes in the cost of their plans based on the specific major providers in their state.
Some small businesses looked forward to the Copper Plans offered this year, because they would give small businesses a way to offer coverage at a low cost. However, they were told that these plans would not be available in 2018 and potentially not even available for 2019 either. These plans offered low-cost health insurance to employees if the worst were to occur.
So an employer would be expected to cover their standard healthcare needs out-of-pocket, but their insurance coverage would kick in if they were to suffer a devastating/catastrophic event (e.g., major car accident, illness diagnosis, etc.).
Cost Sharing Reduction gave insured individuals another way to lower the cost of their healthcare by providing additional discounts for co-pays and deductibles. Consumers used to have to enroll in a Silver plan to qualify for these reductions, but this year they’ve been scrapped altogether.
The implication for small businesses here will only be clear as 2018 unfolds, but some fear that the loss of this benefit may affect individual insurance exchanges. Ultimately, this could lead to higher bills for small businesses if they’re left to shoulder the bills of those who are unable to meet their medical obligations.
In the past, the IRS may have been forgiving to a small business who failed to fill out the right form or provide the exact level of coverage to an employer. This is because the ACA was still new, and everyone was testing its real-life implications.
However, now that the ACA has been around for a few years, the IRS is expecting to collect far more penalties this year from both individuals and employers alike. Small businesses have to be especially vigilant right now to avoid paying high penalties.
Navigating small business health insurance is practically a full-time job, and there are many ways employers can miss a potential cost-saving opportunity for themselves and their employees. As regional costs rise and state legislators step in, we’re likely to see more upheaval during 2018. The best thing a small business can do is forge a relationship with an insurance provider who can find the right level of coverage for a company as efficiently as possible.
Choosing the level of insurance coverage for your small business based solely on price may feel like the only option, but this choice can have far-reaching consequences with the new ACA changes. Instead, pick a provider who can not only keep you up to speed on what’s coming around the corner but who can also provide solutions to each new small business health insurance change.
If you run a small business, it’s critical that the people you have on your team form positive connections and work together effectively so your business can grow. In fact, collaboration is probably one of the most powerful tools you can have to develop a successful small business.
Think about how there’s power in numbers. Having several people collaborate on ideas often gets a job done quicker and better, and solves problems more effectively.
Here are seven basic guidelines for small business collaboration and improved teamwork.
Because a team generally consists of various personalities and diverse people, as well as different skills and experiences, it’s a good idea to have team members fill out personality profiles. Once the profiles are completed, get together to share the results.
Also, use this time to discuss what people like or don’t like regarding tasks, communication methods, and other matters.
Be sure each individual member of your team clearly understands his or her individual responsibilities and the unique roles they play for your team. Match a task with a worker’s personality, such as assigning extroverted people to sales work while letting more introverted members be developers or programmers.
Furthermore, ask your team if the tasks you’ve assigned them are reasonable so that there won’t be any unrealistic expectations.
Give your team members opportunities to brainstorm and ask questions in an environment that’s non-judgmental. This is also a good time to let people express their feelings and encourage them.
If you feel your team needs encouragement because they think they can’t accomplish their goals, ask them why they feel this way and show them ways to succeed.
Make sure everyone on your team feels like they belong. People tend to be more enthusiastic about working on a team when they’re included in decisions. Thus, try to include everyone on your team when it comes to making decisions. Of course, there are some situations in which this may not be possible.
One of the best ways to promote good teamwork is by rewarding exceptional work performance. For example, you could issue gift certificates or give other appreciation gifts, such as items that have the name of your business or project engraved on them. This can encourage continued quality work performance, as well as make productive team members feel valued so they continue to be vital assets for your team.
Don’t punish team members for disagreeing with one another. When you have diversity in a group, you can expect to have differences in opinions. When issues do arise within your team, don’t create an atmosphere of blame; cultivate a proactive attitude that’s focused on solutions.
Let’s say you have team members who are unable to turn in all their work on a project. Rather than scolding them, ask them what has already been completed and help them establish a timeline for getting the rest done more efficiently.
It’s important to set aside some casual time where people on your team can get to know one another better. This typically results in improved productivity. Informal gatherings could be events, such as celebrating members’ birthdays or meeting for lunch or coffee. Social events could even be held at resorts on weekends.
Do you run a small business? Maybe you’re just getting started and are unsure about your insurance needs. Please contact us and find out more about our various products!
Every 15 seconds, somewhere in this country, a burglar breaks into a home. Even though home burglaries are one of the most common types of crimes in America, they’re also one of the easiest ones to prevent.
When home break-ins occur, they can have a significant impact on homeowners and their families. Besides losing personal property, you can also suffer emotionally and not feel safe in your own home.
The good news is most burglaries can be prevented.
Here are six basic steps you can take to ensure your property is protected, along with the importance of having the right homeowner’s insurance policy.
One of the best ways to protect your property is to buy a home security system. These devices normally have several features, such as sensors at exterior doors, outdoor motion detectors, and an outdoor alarm to alert neighbors about an intrusion.
When selecting a product, be sure to choose one that is right for you. Then, after your security system has been installed, use it regularly.
Knowing who lives near you can help lower crime in your neighborhood overall.
Consider how knowing your neighbors can be helpful in having them keep an eye on your property while you’re away. Your neighbors may even agree to pick up and hold your mail until you return, as a pile of unchecked mail can alert a burglar that no one is home. Some neighbors can even help with pet care, watering plants, and other needs pertaining to a vacant home.
It’s a good idea to organize a neighborhood watch program, which can increase crime awareness and make people in your neighborhood more dedicated to stopping crime.
Furthermore, consider contacting your local police department to see if they can provide a lecture designed to help people detect intruders. Usually, law enforcement officers who conduct these meetings give out free pamphlets on tips for home safety and provide window stickers showing that people are participating in a neighborhood watch organization.
Having a well-lit landscape at night can help in discouraging burglars from breaking into your house. Therefore, you need to make your property appear as if you’re awake and haven’t gone to bed by having lights stationed around your front yard as well as your backyard. For additional protection, use lights that include motion sensors.
Make sure all doors are locked and especially lock the front door since 33 percent of all home burglaries occur by intruders getting through a front door. Inspect all door frames to ensure they are strong, and the door hinges are protected.
If your front door contains a mail slot, use a mail slot cover to prevent burglars from poking their hands through it so they can unlock the door. In addition, be sure the door that’s attached to your garage is locked, as this is a common way for robbers to obtain entry into a house.
Because the latches that most window manufacturers put on windows don’t always keep out intruders and can be flimsy, have them replaced with strong locks that can make your home safer. There are also key-operated levers that are effective.
Although it’s easier for an intruder to get into a house through a first-story window, this doesn’t mean you don’t need to secure windows on a second story or lock basement windows.
Another huge way to protect your property is by making sure you have the right homeowner’s insurance policy. Unfortunately, sometimes home intrusions occur as well as fires, hurricanes, and other types of weather disasters. A typical homeowner’s insurance policy covers your dwelling, other structures on your property, in addition to personal property and liability. Most insurance policies include specific coverage, rather than one policy fitting all clients.
Are you a small business owner wondering what it takes to be successful?
In most cases, the success of a small business depends largely on having a positive relationship with clients. This is even more critical when your company is just starting out.
Here are five tips for building healthy relationships with clients while providing exceptional customer service.
One way to enhance relationships with your clients is to not just see them as “dollar signs” or in the context of how much money they can give to your business. Although you have a professional relationship with your clients, you can still view them as human beings who deserve your respect.
Of course, how much you personalize client relationships can depend on the type of customers, their personalities, and your specific industry.
Your top concern should be communicating effectively with your clients. When you explain things, be sure to use words that are easy to understand, not jargon or “shop talk” that’s only familiar to your industry. If you communicate electronically, use professional words instead of texting terms.
In addition to speaking correctly to them, it’s just as important to listen to what they have to say to you, such as listening actively, not interrupting, and having good eye contact and body language.
Ignoring phone calls, text messages, and emails or taking too long to respond can easily hurt your relationships with clients. Therefore, promptly get back with clients when they call, text, or email you.
If you can’t answer their questions immediately, still respond quickly, telling them you’ll give them an answer as soon as you have it.
Another huge way to make clients feel like they’re valuable is by sharing information and having them get involved in the process. In other words, don’t keep them in the dark. Although you may not want to share negative news, clients still want to know the truth. By being honest, you can build healthier relationships and let your clients know you’re trustworthy.
Never take your old customers for granted. One method that helps keep clients is targeting them with special offers, such as offering discounts for products or services. The more familiar you are with your clients, the better you can individually approach them according to what they like or need.
Additionally, why not occasionally reward those customers who give your business the most profit?
Maybe you’re just starting a small business and aren’t sure about the type and amount of insurance coverage you need. Please contact us to find out more about our wide range of products for small businesses like yours.
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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.
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