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Best In-Class Business Insurance for Technology Firms & IT Consultants
Business insurance can be a tricky space to navigate, and it can be hard to know how much and what kind of coverage is needed. If your business needs more than one type of insurance, are they all available from the same insurer? How much will it affect your bottom line, and what types of insurance do different business types need?
If you are a small business owner asking yourself any of these questions, read on!
Insurance exists for risk management. One of the earliest specialties was related to fire:Following the Great Fire of London in 1667, local businessmen saw the potential for their city to be laid to waste in a single disaster and decided to find a way to pool funds to mitigate any losses from any similar event in the future. Almost a century later, in what was soon to become the United States of America, Benjamin Franklin founded the first colonial insurance company, whose name says it all: The Philadelphia Contributionship for the Insurance of Houses from Loss by Fire.
Today, numerous commercial insurance policies exist to protect businesses from a wide variety of potential losses. Premiums vary depending on the type of coverage and the desired — or legally mandated — coverage level. Following are three essential forms of commercial insurance and why you need to consider them for your own business:
If you run a business with assets in the company’s name, you have (or should have) property insurance on those assets.
The need for property insurance may be more apparent to medium or large organizations, or those with equipment and inventory that they and their employees work with on a regular basis, than to smaller businesses such as drop shippers or other owners of small online businesses. However, if you fall into the latter category and you don’t have insurance on the inventory that you maintain in a warehouse, you risk losing everything if said warehouse goes up in flames or is destroyed in an earthquake.
Perhaps even more important than property insurance is liability insurance. Why? Because it can protect you and your business from a third-party lawsuit which could force you to liquidate all your business assets to pay damages to a third party. As a business owner, you never truly know what could go wrong in a client transaction or encounter until it happens. Liability insurance exists to protect you from those unknowns.
(If you’ve never seen Sunshine Cleaning, rent it and then be sure to heed the cautionary tale at the end.)
For small companies, such as single-member LLCs and other small businesses employing only a few people, worker’s compensation may not seem relevant. However, even office work can result in on-the-job injuries. Workers Compensation essentially protects you from liabilityto an injured employee by covering medical care they may need following a workplace incident, injury, or illness.
In In most states, workers’ compensation insurance is MANDATORY. If you have employees in any capacity and you do not already have legally mandated coverage, research your options and get a policy in place today.
InsureYourCompany.com provides insurance coverage for businesses in New Jersey. For more information on policies best suited to your New Jersey-based business and to request a quote, contact us.
Here at InsureYourCompany.com, we believe there are many facets to an employee’s life- both in and out of the office. Not everyone knows about their insurance policies because not everyone knows about their insurance agent. Every month we interview a select number of our agents and get to know them a little better with the “Meet the Agent” series. We find out who they are and share why our customers should know their agent. Keep reading to learn more about your favorite agent!
Here are some of the agents that have recently been featured in our Meet the Agent series.
Jeffrey Henderson
Jeff is a licensed property and casualty insurance producer and has been with IYC since 2010. He handles new business accounts and works with clients to quote, issue, and service policies. With a one on one consultation, Jeff is able to find and explain to the business owner what insurance is needed. Through the many consultations, Jeff has conducted he has learned that by educating our clients they become better consumers and more confident with the protection of their business. Jeff is able to help any retail, restaurant, service, and professional industries. Jeff loves seeing his client’s businesses succeed and is eager to help them by providing valuable insurance coverage at great prices. In his spare time, he enjoys golf, tennis, and anything involving cars.
Adam Levenson
Adam is an account manager here at InsureYourCompany.com and handles everything from client renewals to relationship management. Adam is an experienced sales professional who is passionate about providing coverage, protection, and relevant information to business owners nationwide. Adam is happy to answer any questions or provide hassle-free risk management assessments for improving your business benefits portfolio.
Gauri Gupta
Gauri Gupta MA, CBC, ChHC, REBC, is an integral part of InsureYourCompany.com since she started as an employee benefits consultant in 2008. She is a leader in her field and was named one of United HealthCare’s top brokers in 2013 (News India Times March 7th, 2014). Always looking to improve service to our clients, she is now the Director of the Employee Benefits Division, helping businesses find the right coverage with the best service.
Over the last decade, mobile working has increased dramatically. There’s no doubt that the future economy will be built on a mobile paradigm.
Reduced running costs and increased productivity have been some of the reasons why major and small companies alike have embraced the idea of remote working. While the benefits of this approach are imminent, some challenges could adversely affect your business and the transition to mobile work if not handled promptly and effectively.
Working in an office space gives you a definition of your work environment and distinguishes it from your home or extracurricular activities.
Without the office walls to create that work, life balance definition, you can easily overwork yourself and easily overshadow your social life.
More so, if you choose to work from home because it’s harder to transition from work to home when both aspects are under the same roof.
While getting rid of the office space might make it harder for some to unplug from work, the reverse is also true.
Mobile working often comes with plenty of distractions. The distractions can be pets inside the house, a neighbor stopping by, and even your own family.
You may not have to deal with co-workers, but in a mobile working model, the interruptions are amplified through numerous factors including the TV.
With full access to electronics and no one breathing down your neck to beat deadlines, getting yourself to start working is harder unless you are self-motivated. Without proper prioritization, you can underwork and miss vital deadlines.
There is a substantial amount of trust often tied to having a physical address. Walking into offices to speak to management is an age-old practice that has created trust between customers and businesses.
Without a physical business address, it’s harder to convince clients of your credibility and reputation. The problem is amplified in larger corporations that have to deal with employee integrity as well. Your business needs to be sure it can trust its employees to remain diligent and trustworthy to the clients, even without supervision.
Over time, the yoke of distrust surrounding mobile work, particularly with clients may be broken and make it easier for mobile businesses to appeal and sign contracts even without physical establishment. Before that happens, you just have to work harder to impress and earn your clients’ trust.
There is a social connection associated with having to leave your home, meeting with other people on your way to work, and finally interacting with co-workers. In fact, your co-workers make a significant chunk of your social workers.
Remote working can compromise your social circles by isolating you from the outside world. Even with internet access and crucial tools like Social Media and Slack, you can still develop “Cabin fever” from being in the same place for a long time.
Prolonged isolation will affect your social skills because of reduced physical contact with other people. The problem gets worse if there’s no family or friends to spend some time with you.
An internet outage, hardware break downs, software crashing – there’s an endless list of things that can go wrong when you’re using technology.
For most mobile workers, fast and reliable internet is the biggest challenge. It helps to have a back-up plan, but sometimes, even the best technology can be unpredictable.
Most mobile work, especially knowledge-based, tends to be sedentary. It’s easy to slip into bad habits at a comfortable location away from the office without a proper schedule. Frequent snacking, ordering takeout, and lack of exercise are among the biggest challenges you’re likely to face.
Final Thoughts
There’s no doubt that mobile working is an appealing alternative, especially to startups and small businesses. It significantly cuts back on capital requirements and overhead costs. However, it’s also vital to assess some of the predictable challenges and develop a plan on how to combat and overcome such challenges.
Contact us today and let’s discuss more on the challenges of working mobile.
If you’re one of the many people who have made the transition from the office to the home office over the last few months, it’s natural to miss the traditional workplace after so much time. Even more than the structure, fresh air, and change of pace it would provide, one of the major benefits of physically going to work is the community. Everyone may not have been best friends before now, but co-workers can become an important part of your life after many years of working together. After being apart for so long, here are five ways to make working remotely feel less remote you can use to stay in touch and reconnect.
It’s easier than ever to stay in touch with people thanks to the internet. If you’ve been wanting to speak with your co-workers, why not start a group chat for the office? It could be purely recreational in nature or for collaboration on your duties. Either way, the end result is that you’re not all stuck with minimal contact and can work together to get things done like the old days.
Meetings are commonplace when you work in the office, so why does it have to be different when you work from home? Regular weekly meetings can be a good way to catch up and keep everyone on the same page with current projects. Ideally, you’ll be doing this in the form of video conferences for a more connected and personable touch to make it feel more like you’re in the same room as each other.
If you and your co-workers want to do things together again, it’s easy enough to try to set up some kind of online hangout in your free time. This can take many forms depending on what your office enjoys doing, some popular options being movie nights and book clubs. With so many apps and websites that allow people to watch videos together or share their screens, it shouldn’t be any problem recreating the experience of spending time together.
While chain emails might normally be the bane of one’s existence, starting one yourself for your company can actually turn out to be a lot of fun. For example, you could send a joke you found to one person’s inbox with the instruction to forward the email with their own joke added on to another person. Keep this going until everyone’s had a turn. This works for all sorts of things from nice messages to funny cat videos to entertainment news and more, so it’s entirely up to what you think your co-workers might enjoy.
These are uniquely stressful times for everyone, isolation only working to exacerbate the bad feelings most of us are experiencing right now. One of the most comforting things you can do for another person is to tell them that you’re there for them if they’re in need. Whether it’s personally or professionally, knowing a co-worker really has your back can make a world of difference when you’re stuck at home behind a screen. It doesn’t have to be a big deal — in fact, it’s better to keep it casual — but the fact you’re offering your support and being available to others is likely to make your relationship with your co-workers a lot closer.
It’s easy to start feeling overwhelmed and isolated when you’re working remotely for long periods of time. Stay grounded and reconnect with others in the office by using these five idea for reaching out and making remote work feel less remote. For more tips and tricks on improving your business and office culture as well as learn about insurance related to your work, check out InsureYourCompany.com today.
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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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