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As a small business owner, the last thing you need on your plate is to become a victim of a cyber-attack or breach. Unfortunately, cyber-attacks and data breaches are becoming increasingly commons, and dealing with an issue is always simpler if there is a plan in place. According to a US Small Business Administration survey, small businesses cannot afford the same level of cyber defense as larger companies, which makes them more vulnerable to an imminent attack.

What is Risk Management?

Risk management encompasses the identification, analysis, and response to risk factors that form part of the life of a business. Effective risk management means attempting to control, as much as possible, future outcomes by acting proactively rather than reactively. Therefore, effective risk management offers the potential to reduce both the possibility of a risk occurring and its potential impact. (CFI.com)

Effective risk management comprises a plan of proactive measures that will minimize exposure and create a safety net in case the proactive measures are compromised.  Working with a trusted partner that can provide a risk management plan and a safety net is the ideal situation. At Insureyourcompany.com, we have the knowledge, expertise, and ability to help develop a plan for your business and provide insurance as a backup should it be needed.

All companies handle various types of sensitive and personal information ranging from just contact information to private financial data. The era of instantaneous communication and the ability to conduct business digitally has made everyone’s job easier and increased productivity to unimagined levels. This ability has also created the potential for companies to be infiltrated more easily. The days are over where you had to break into a building to steal an asset. Now,  a criminal can sit with a laptop or cell phone and do vast amounts of damage without leaving a trace.

Steps to Successful Risk Management

  • Identify existing risks— Identifying your existing risks is accomplished by gathering information from all levels and areas of your business. Speak with your employees and use their experience and understanding of their niche to build a big picture. Compiling this information and then sharing it with a risk management professional is vital.

 

  • Assess the risks— Once the risks have been identified, they need to be assessed in how and why they have become actual risks. Are there loopholes that need to be closed? Is sensitive information too centralized? Smaller companies that have grown quickly are often a victim of that growth in that growth takes precedence over risk management. Companies need to take an honest look at where they are, how they got there and, what they do better going forward.

 

  • Develop an appropriate response— No risk management plan will be perfect and create an impenetrable cocoon of safety. A vital part of an effective risk management strategy is how to handle a failure or breach.

This is done on a few levels:

  1. Look at a breach as a learning opportunity, rather than a failure. Discuss what measures can be taken to prevent the same risk from happening again, and
  2. Have a plan of action in place that will effectively mitigate any damage.
  • Develop preventive mechanisms for identified risks– Developing a check and balance system that can prevent an identified risk from happening is an important goal. Prevention may take a lot more time and effort, but it can literally save a company from ruin.

Insurance is an important aspect of your risk management planning.  While not all perils can be completely prevented, Cyber Liability, Professional Liability, and General Liability insurance can help protect your business.  Contact Insureyourcompany.com for an assessment of your needs today.

Starting a new business can be scary. That being said, it also could be the best thing that you have ever done. You get to be the boss, make your own hours, and do what you love. However, you must think carefully when you start a business.

Here are some insurance and business tips for new business owners.

Start with a solid plan:

You really need a solid plan before you start a business. Not only will you need this to get some capital to get started, but it also will help keep you on track to have a successful business. Make sure that you know what you want to do with your business and what you do not want to do. Know how much you are going to charge for your services. If you are going to sell items, know exactly where you are going to get them from, what they will cost you, and how much you are going to sell them for.

Know your ideal client: 

It also helps to know who you are trying to reach with your business. Know as much as you can about your ideal client. Who is she or he? Are you looking at a certain age range? What interests your ideal client? What catches their attention? By knowing this, you can market your business directly to them. You aren’t going to put up ads for babies when your ideal clients prefer cute kittens and puppies.

You may want to start slow:

Many small business owners start part-time while they continue to work their full-time job (or cut back their hours). This allows them to continue to have an income while deciding whether or not their business will succeed.

That being said, others need the rush of jumping right in:

Some work best by quitting their job and giving their business their full attention. This means that they have to succeed because they have nothing to fall back on!

Learn from your mistakes:

You are going to make some mistakes. You are going to screw up and upset some clients. Not only that, but you may also lose some clients along the way. That is not the end. In fact, it should be the beginning. Learn from your mistakes and do better next time. The only negative thing that can come from mistakes is if you don’t learn from them and do things differently the next time!

Make sure that you have enough insurance:

If you own a company, you have a lot to lose. If someone sues you, you could lose everything, including things that aren’t a part of your business, such as your house. For this reason, you need to talk to a professional when it comes to insurance to make sure that you are fully protected, just in case. It is much better to be ready than to lose everything.

Before you start a business, you need to come up with a plan. Outlining your business plan allows you to move forward. It lets you decline something that isn’t in line with your plan. It also helps to know who your ideal client is. You are going to need to market to him or her so really study the types of people that you are trying to reach.

You also need to make sure that your business is protected. Not only that, but you don’t want to lose your home because you didn’t have enough insurance. The best way to be protected is to talk to a professional. He or she will be able to talk to you about your options so that you can feel good about your policy.

If you want to make sure that your business is protected, contact us today. We will be glad to talk to you about your options to make sure that you and your business are protected.

You’re finally starting your business, woo-hoo! You have your brand, your team, your finances, and your location, everything’s great. But wait, before you can do any business, you must have your state and federal legal obligations taken care of, have you done that? If this sounds foreign to you or you just don’t know where to start, InsureYourCompany.com can help you better understand the insurance side of protecting your business while staying compliant with your state and local laws.

Your Records, Your Responsibility — Internal Requirements

There are external and internal business compliance requirements that you will need to meet. External requirements will involve filing paperwork and paying state and federal taxes, while internal requirements will be kept inside for your own files and record keeping. If you decide to one day sell your business, you may need to have those records available.

Business Structure Requirements

Corporations have some really strict requirements which are why certain things need to be done regularly when running a business. Some helpful things to adopt would be:

  • Hold initial meeting
  • Annual Director Meetings
  • Shareholder meetings
  • Record meeting minutes
  • Maintain bylaws
  • Issue stock to shareholders
  • Record all stock transfers.

An LLC doesn’t have such strict requirements, however, they are advised to:

  • Maintain updated operating agreement(s)
  • Manage membership shares
  • Record membership interest transfers
  • Hold annual business meetings

Some businesses have limited internal requirements while others have no internal requirements at all. Not a good idea, consider looking into some internal requirements. If you don’t know where to start, InsureYourCompany.com can help you with that.

Maintain Your State Filing Requirements

Based on your business structure and the state that your business is in, your annual filing requirements may fluctuate.

Here are a few common requirements to watch for:

Continue Your Federal Filing Requirements

Beyond paying federal taxes and complying with the Affordable Care Act, most businesses will not have to worry about all the other federal requirements. So be certain to meet each of your federal obligations for your business inclusive of employer and income taxes.

Businesses with 50 plus employees must report to the IRS that they provide health coverage as required by the Affordable Care Act. Keep any federal licenses, permits, or certificates for your business up to date.

Comply With Other Federal Requirements

Not all business activities need to be regulated, so they don’t require filing. However, you need to be sure to stay compliant with all the laws for your state and business type such as:

It is detrimental to the success of your business to maintain your licenses, your permits, and the recertification that you get from your local state, city, or county, and renewal requirements will vary.

Helpful Resources

Depending on the type of business you have, here are some resources that you will need to register your business with:

InsureYourCompany.com is your one-stop for all that’s business insurance-related. We understand your business needs as a business owner because we’re business owners. Contact us today, our team of insurance experts is here and ready to help you get and stay small business compliant. In the meantime, visit our blog over here.

Small business owners are quickly learning that they need proper documentation to guarantee the success of their business. One document that most business owners tend to overlook is the certificate of insurance (COI).

Understand that the COI is a vital document for all organizations that use outside contractors and vendors. However, most business owners are still unclear about why they need to show their certificate of insurance. In this article, we will take a comprehensive look at COIs, and why you might be asked to show them.

What is a COI?

A Certificate of Insurance is a document that proves your business has an operational insurance policy. It includes; the expiration date of the coverage, the limits of the insurance, and the type of insurance. You get the COI from an insurance company, thus verifying that your business is covered.

Reasons Why A Client May Ask for a COI

Regardless of the type of industry, there are several reasons why you might need to show your certificate of insurance. Below is a quick look at some of these reasons.

1. Customer Looking to Protect their Financial Interest

Most customers will need to make sure you have the proper insurance coverage. In doing this, these customers can rest assured that they are not liable in the event of a claim. Understand that we are living in times when everyone is looking to protect their financial interest. Customers are merely looking to avoid the headaches that come with insurance claims.

2. Bidding on a State or Municipality Job

If you need to bid on a job at any state or municipality agency, you have to show your certificate of insurance. Municipality or state agencies will only give tasks to compliant companies. The first step to ensuring that your company is compliant with state and federal law is by having the proper insurance policies in place. It is impossible to bid on any municipality or state job without a certificate of insurance.

3. Signing a Contract

All businesses will need to sign a contract at some point in time. However, did you know that your business cannot sign a binding agreement without the COI? According to the law, only compliant establishments can sign a legally binding contract. Having a certificate of insurance will ensure that any signed contract within your organization is legally binding.

4. Obtaining Professional Certification or License

You will need to show your certificate of insurance when obtaining any professional license or certification. Understand that these documentations demonstrate a business’s commitment towards continuous learning, upholding industry standards, and superior professionalism.

How to Get Your COI

Your insurance provider will always give you a certificate of insurance. If you recently purchased insurance, you probably have the certificate. However, if you didn’t get the COI, contact your insurance provider.

You can see that the COI is a vital document for any business establishment. The good news is that your insurance provider will always provide it for free. Ensure that your business is compliant by having all the right insurance policies in your establishment.

Finally, understand that you should always have your Certificate of Insurance with you; do not wait until a client asks for it. It could be the difference between losing and keeping a client.

Conclusion

Do you need help securing the proper insurance coverage for your business? At InsureYourCompany.com, we will help you employ all the right strategies to avoid loss of business or legal issues. Ensure you contact us today to speak to a licensed professional with years of experience in the insurance industry. It is time you started focusing on the growth of your enterprise.

Through innovative ideas and abilities to overcome adversity, business leaders have made major impacts in the world. The ways we communicate, travel, and interact with the world began with ideas from business leaders. Those seeking to start their businesses or propel their ideas forward need to look to these ten influential business people for inspiration.

Larry Page

Regardless of what devices you use, you likely regularly use a service that Larry Page has had a hand in. Page is a co-founder of Google and later served as the CEO of Alphabet Inc., Google’s parent company.  Because of his leadership in one of the most powerful companies of the digital age, Page has gained a net worth of more than 78 billion dollars.

Warren Buffett

At 90 years old, Warren Buffett continues to be one of the world’s most influential investors, and his net worth is currently greater than 85 billion dollars. The Berkshire Hathaway CEO is also regarded for his dedication to philanthropy, and he has given billions to charitable causes.

Mark Zuckerberg

Another major player in the tech boom, Mark Zuckerberg is known for co-founding Facebook in 2004 while he was a student at Harvard. He continues to serve as the company’s CEO today, and with 2.7 billion Facebook users, Zuckerberg’s importance in the worlds of business and technology cannot be overstated.

Satya Nadella

Satya Nadella became CEO of Microsoft in 2014, and since he took the position, the company has made several major acquisitions. In his first year as CEO, Microsoft acquired the highly profitable video game company Mojang. Then, in 2016, Microsoft purchased LinkedIn. Under Nadella’s leadership, Microsoft has seen significant gains in its stock prices.

Tim Cook

After Steve Jobs’ death in 2011, it seemed unlikely that anyone could fill the shoes of Apple’s charismatic CEO. However, Tim Cook has shown that he is more than capable of filling the position, and his time as CEO has seen Apple’s profits increase significantly. Cook is also important for his contributions to the LGBTQ community as the first openly gay CEO of a Fortune 500 company.

Elon Musk

A controversial personality with bold and grand visions of the future, Elon Musk’s ideas have gained him a net worth of more than 209 billion dollars. Musk is most well-known as the founder of Tesla, the world’s most famous electric vehicle manufacturer. He is also known for founding SpaceX, which is making strides to advance space travel.

Mary Barra

One of the most powerful businesswomen in the world, Mary Barra became CEO of General Motors in 2014. She was the first woman to ever serve as CEO of an auto manufacturer. In addition to this, Barra has served on other important corporate boards, most notably Disney, which she joined in 2017.

Jeff Bezos

In 1994, Jeff Bezos started an online bookstore. This idea alone was innovative, taking advantage of the potential of the Internet’s new technology. However, the bookstore expanded far beyond its original vision. Today, Bezos’ company, Amazon, is one of the most valuable in the world. This has made Jeff Bezos one of the most influential and important people in the business.

Rupert Murdoch

Rupert Murdoch is known for leading News Corp, a company that owns hundreds of newspapers around the world. While this has certainly given Murdoch a fortune worth billions, it has also given him a great deal of influence due to his connections to news outlets.

Marc Benioff

Even as a teen, Marc Benioff was making innovations in programming, as he developed video games for Atari. He went on to revolutionize cloud computing with Salesforce, which he founded in 1999 and continues to serve as CEO of today. Recently, Salesforce even acquired software company Slack.

Any influential business leader knows the importance of being prepared, and business insurance is an important part of that preparation. To learn about how InsureYourCompany.com can protect your business, please contact us.

The insurance industry is at an interesting crossroads since the COVID-19 pandemic. As New Jersey insurance agents, we work in an evolving landscape that must somehow balance speed and efficiency with excellent customer service, and a meticulous focus on accuracy, privacy, and security. We hate to tout the “new normal” concept. Still, we can’t deny that consumer behavior has changed thanks to COVID-19.

Today, we’ll consider these changes in client behavior and how that relates to the world of insurance — particularly how customer experience affects loyalty and retention in our industry. Let’s get started with some meaningful statistics.

Consumer Behavior Has Changed

You know the pandemic has changed how we work, learn and shop. Per Statista.com, this trend is obvious in the US. Let’s put a finer point on it.

  • Internet use surged immediately in March 2019 across all devices except desktop computers. Laptops, cell phones, and tablets reign.
  • While changes in state closures and stay-at-home orders throughout the year affected customer behavior, overall the internet had about a 70% increase in use.
  • Social media platforms, online retailers, and the services that support them (online payment portals and shipping) saw unprecedented growth in 2020.
  • Facebook memberships jumped, and as of February 2021, PayPal stock prices have risen to $250.00.

Ultimately, as insurance agents, we saw a dip in walk-in traffic and a surge in emails and phone calls. That all makes sense! Clients who once stopped in for a chat are now mailing a check, and more customers are requesting a quote via insurers’ websites.

Moving forward, insurers already know customers are spending more time at home. That’s why auto insurance rates have dropped noticeably. Fewer vehicles on the road mean fewer claims to pay. We might see similar action in the property insurance market, as restricted travel and reduced vacation time this summer translate into fewer burglaries and home fires (maybe.) Those statistics are yet to be written.

Your Clients Have More Time to Research Insurance on a Handheld Device

Agents must understand that customers have more time on their hands. Clients who have found themselves unemployed or underemployed in particular are eager to save a few dollars. And, as an intangible service, insurance is a frustrating bill to pay. It’s not like our customers can physically see or taste their insurance policy.

This leads us to reflections on customer service and the “human touch” that might make the difference in your retention rates this year, but not forever.

Is the “Human Touch” Still Needed in Insurance Sales?

Yes, for now. Speaking demographically, Millennials (they’re buying homes, business property, and life insurance policies) are the least likely to talk with an insurance agent on the phone or in person.

Boomers, on the other hand, are retiring en masse. The generation that placed so much value on personal relationships in business is buying less insurance. They’ve sold the family business, their children and grandchildren are grown, they’ve downsized the home, and they may only need one vehicle. All of this was happening regardless of COVID-19! The pandemic only served to quicken early retirements.

It all begs the question: How can we earn customer loyalty / maintain retention when we don’t speak to customers in person? Well, we’re still learning about that. But here are some starting points:

  • Reach out to your customers by phone and introduce yourself to new customers that bought policies online. Even if you cannot speak to them in person, try to humanize the transaction. They’ll be more likely to reach out to you for questions about their policy and refer others.
  • Monitor their payments. It’s awkward to contact a client when their premium is late, but most will value your attention to detail, and you won’t lose the policy over a missed payment.
  • Be active on social media. Your current and future customers are spending a lot of time on it. You don’t need to be “salesy,” just be helpful.

Finally, broadcast a helpful message to your target market. A radio spot about financial scams affecting seniors could go a long way towards establishing your reputation locally among Boomers, for instance.

We hope you’ve enjoyed our dissertation on customer experience, loyalty, and retention post-pandemic. We enjoyed writing it! If you have any other questions about insurance and customer interactions in 2021, contact us.

Being a newly legalized industry with ever-changing regulations, many business owners fall at risk of purchasing either substandard or wrong insurance policies. Cannabis businesses need to juggle between several potential financial risks while mitigating customer claims. Let’s not forget that every business needs to stay in compliance to maintain an operating license.

Did you know that the Cannabis industry is projected to clock the $146.4 billion mark by 2025? What this means is that the US cannabis industry will continue to grow rapidly within the coming years. However, this unprecedented increase brings to light a whole new set of challenges.

If your cannabis business isn’t properly protected, all the above risks can be financially crippling. It is, therefore, paramount for you to understand the unique insurance needs of this volatile industry. You also have to consider the specific needs of your company before picking out the right insurance policies.

Understanding the Challenges of the Cannabis Insurance Industry

All legal cannabis pioneers are facing one massive problem in the insurance industry: the reluctance of traditional insurance companies to offer tailor-made cannabis insurance programs. Most insurers are not keen on entering this new marketplace.

There is a limited number of cannabis insurance offerings in the market. Most business owners have no choice but to settle for ineffective and generic policies. Note that some of these insurance policies will not adequately address the needs of a legal cannabis establishment.

What Type of Insurance Coverage Do I Need?

Every business has its unique set of insurance policies that help transfer and mitigate risk. For your cannabis business, you will have to stick with the following policies: commercial property insurance, product liability, general liability, and workers’ compensation.

Commercial Property Insurance

Almost all business establishments require commercial property insurance coverage. You get proper coverage in case your property gets damaged by natural disaster, theft, or fire. The property will include inventory, equipment, buildings, and personal items. Through commercial property insurance, you can mitigate the loss of income and protect expensive equipment.

Product Liability Coverage

As stated earlier, your cannabis business needs to mitigate customer claims. With product liability coverage, you will not be found liable when a person experiences any side effects after using your product. However, you need to consult with a licensed cannabis insurance broker to find the right product liability coverage that suits your needs.

General Liability Coverage

This is a handy coverage that protects all of your business assets from any claims involving property damage or injury. It is especially vital if you are contracting with third parties or leasing commercial property.

Workers’ Compensation

If you have a cannabis establishment, you will most likely have workers. According to the law, you need to have workers’ compensation to cover all your employees. You can rest assured knowing that all your workers are fully covered, in case of any mishaps or problems.

Conclusion

The lack of specific cannabis insurance policies usually leaves a lot of owners exposed to several risks. Most of the time, you have no choice but to overpay for insurance coverage that you do not necessarily need. However, the policies above can help you keep your business afloat while waiting for the insurance industry to design specialized insurance policies.

At InsureYourCompany.com, we can help you secure the proper insurance coverage for your cannabis business. We will also help you get all your documentation in order, thus ensuring that you are compliant with both state and federal law. Ensure you contact us today to help you employ the right strategies to cover your business. With our help, you can avoid legal issues and loss of business in the cannabis industry.

Insurance is like seasoning for a chef who’s cooking a dish. It’s easy to overdo it, using too much, thereby ruining the dish. Likewise, the right amount makes it perfect. Having no flavor in a meal is perhaps the worst case. In the same way, proceeding without proper insurance coverage is the worst-case for businesses and enterprises of all sizes. Occasionally certain worldwide or nationwide events affect the economy in odd and unpredictable ways. The NCAA is learning this first-hand in the wake of the 2020s Coronavirus pandemic and its effect on their revenue after the 2020 season was called off in early March.

The financial implications have been massive. A small fortune passes through NCAA coffers each season. This season, that money didn’t show up. Those whose livelihood revolves around this massive economic engine that is the many divisions and sports under the massive NCAA umbrella are now left scrambling for a way to replace those lost earnings.

When unforeseeable events take place that causes interruptions in normal business operations, insurance is a useful hedge against potentially catastrophic losses.

One Year, One Billion Dollars

NCAA President Mark Emmert confessed in an interview that he “can’t give you any specific numbers” regarding how much the league lost due to the Coronavirus pandemic that took out the NCAA season entirely.

The earnings from the previous complete season surpassed $1 billion, so clearly there’s some red ink to be expected in these balance sheets ending this fiscal year.

$800 million of that billion-plus comes from the broadcast rights that CBS and Turner have secured through the 2032 campaign.

Emmert has reassured fans and media that, in fact, the league had been holding a business disruption policy that is expected to cover some losses. While this is encouraging for stakeholders, it remains to be seen how much funds are recuperated from claims.

It all boils down to advertising, of course. The bottom line is eyeballs watching ads. Because there were no games, there were no ads and ad revenue was literally nonexistent. It’s pretty safe to assume that most of that billion-dollar revenue pool didn’t materialize in 2020.

Downstream Effects Beyond Basketball

The NCAA itself is not the last stop on the proverbial line. Institutions of higher learning stand to be affected by this monumentally. The pool of funds that typically flows into the NCAA then flows downstream to schools.

With no revenue, now these institutions of higher learning face an additional budgetary shortfall in a year already so replete with them as is. In a normal year, 60% of NCAA revenue goes to schools, in a variety of ways. This year, that nearly $600 million revenue pool simply evaporated. Institutions of higher learning across the country are patiently waiting to see how much insurance recuperates on their behalf.

Insurance payouts will certainly serve a primary role in helping to replace some of these lost funds, the question is how much.

Insurance Is A Game Changer

Reflecting upon the NCAA’s drastic revenue shortfall caused by COVID-19, enterprises of all sizes should take notice. Proper insurance coverage is one of the best and only strategies to replace funds in scenarios such as these that generally aren’t easily imagined.

The key to ensuring that you’re properly covered for these sorts of occurrences is to ally yourself with a team of insurance specialists. These agencies earn their living by knowing all the finer details regarding laws in the area they serve and how those laws affect proper insurance coverage structuring.

Insureyourcompany.com specializes in providing this trusted, well-informed consulting that organizations of every size expect when planning and selecting insurance coverage.

Reach out to one of their strategic insurance specialists today.

It’s never a good day when someone is injured on the job. Pain, recovery, and costs are all part of this terrible process. However, the hurt on the surface may not be as far as things go, including for an employer.

While a worker is obviously entitled to workers’ compensation for being hurt on the job, there’s another type of payout that might be required in certain instances — action over. What does this mean? What will it cost? How can you protect against it? Let’s break this all down to help you understand action over and why it’s crucial to have insurance coverage for it.

What is Action Over?

To put it simply, action over is a legal term for the act of suing a third party that is allegedly related to why someone was injured while performing a job. As an example, think of someone falling and injuring their back because a stool broke under them. At first, they’ll be entitled to workers’ compensation for the direct injury. After that, though, they may also file a case against the stool’s manufacturer, claiming that there was some defect with their product that caused it to fail and injure them.

As another example, someone hurt while working construction for a specific company would likely be able to sue the contractor at a site for allegedly creating an unsafe work environment by not taking the precautions necessary to prevent the injury. In this case, things get a bit more complicated for the employer. Assuming that the contractor has a contract with the same company employing the worker, the company would then be forced into a position of fighting its own employee in court and potentially paying out to them for injuries. All in all, not a good scenario no matter how you look at it.

What is Action Over Coverage?

Losing an action over a case can mean losing a large sum of money. Not only that, it could permanently damage your relationship with one of your employees. These reasons and many more are why it’s so important to be covered in the event a case like this is initiated. Thankfully, action over coverage is offered by many insurance companies now to help protect people in the event something like this were to happen.

Why is Action Over Coverage Important?

Like any other form of liability insurance, you would be able to have the insurance company payout in your place for action over the case. Though it is possible for some more general insurance policies to cover action over cases, many specifically try to exclude this type of coverage. As such, having specific liability protection in the event action over the case is started against you, especially if your business is in a high-risk field, becomes crucial in keeping your business afloat. Neglecting to properly insure yourself against these kinds of situations can mean big losses, plus time wasted battling your insurance company itself trying to make them cover something if they decide your general policy does not include something.

Conclusion

Action over coverage is a crucial part of keeping your business safe, especially if your employees operate in environments that might easily lead to injury. Relying on general liability coverage does not always cut it, so taking the extra step of purchasing more coverage is frequently a much smarter decision than leaving things up to chance. Don’t let yourself be uninsured any longer. Get some action over coverage today by heading to InsureYourCompany.com and learning how we can help you keep your business safe and secure with many different types of coverage.

Are you looking to become an owner-operator of a semi-truck or add a semi to a growing business? Owning your own truck gives you the freedom to drive as an independent contractor, choosing your routes and your loads. One of the things you can choose is whether to drive a day truck or a sleeper truck. Day trucks are great for short distances but if you plan to take interstate and cross-country routes, then a sleeper has some invaluable qualities. Even with a basic bunk model, you can save a ton on motels just by having a safe and comfortable place to sleep.

Sleeper models tend to have more heat and sound insulation, and some have tiny RV compartments including a mini-kitchen and a shower/toilet. For semi-truck drivers looking for the perfect truck to buy, a sleeper gives you great range and is worth the investment. When deciding which truck to buy and where to get your truck loan, keep the following five things in mind:

1) Cabin Size

The size of the cabin makes a big difference for your trucking experience. Your cabin size determines two things, the space in your ‘living quarters’ and the mass of your rig. Naturally, the more space you have indoors, the longer your cabin will need to be and the more it will weigh. This will impact your cargo-hauling capacity and how you drive the total longer vehicle. Weigh the features inside the cab and your personal comfort with the size of the cabin.

2) Tractor Weight

The weight of your tractor is also an important factor. Some manufacturers work with lighter materials than others, so size is not always the final determiner of weight. Consider the truck body and the interior sleeper features when calculating for weight. If your sleeper has a kitchenette or bathroom, don’t forget to calculate for the water tanks. A freshwater tank and gray/black water tanks can add an impressive amount of weight. Many RV experts suggest keeping your water tanks only partially filled unless you’re parked with hookups.

3) Versatility and Comfort

Your comfort as the driver and occupant is a major decision-maker. Sleeper trucks also tend to be more spacious and comfortable up-front compared to day trucks. This is because it’s assumed you’ll be spending more of your day in the driver’s seat on long-hauls than with daytime delivery routes. You want to consider your comfort in the driver’s seat as well as your comfort sleeping and living in the back cabin. Test out the bed, go through the motions of making food, and stand in the shower/toilet to see how it feels. Choose the cabin design that you’ll be most comfortable living in for long hauls on the road, especially if you’re skipping motel stops.

4) Sound and Heat Insulation

One of the great things about sleeper cabs is that they are better insulated. Sleeper semi-trucks tend to retain heat (or cool) more efficiently and they are built to block sound so you can get a good night’s sleep inside. This also means less blasting AC and less road noise when you’re driving. Spend a little time in the cabin and find out the quality of the insulation. You might discover that a particular model or brand has superior insulation that can really improve your long-distance trucking experience.

5) Ease of Access

Finally, consider the ports. The water tank refill valve, tank drains, and gas tank access should all be easy for you to work with and to hook up to the appropriate appliances. You need to be able to maintain your living quarters on the road without extra hassle. Test how you will get around the entire truck. Walk through the cab and imagine your future routine. Handle the valves and make sure you can handle them by memory. If the truck feels right when you interact with it, then you’ve found a truck that will be more enjoyable to maintain.

Shopping for a semi-truck involves many different considerations. But while you’re thinking about engine power and axles, don’t forget to consider the quality of your sleeper cab. With a careful eye for quality, you’ll soon find the perfect truck for your owner-operator enterprise. Contact us for more smart small business insights.

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Home Insurance

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Home Insurance

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Home Insurance

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Home Insurance

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Home Insurance

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Home Insurance

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Home Insurance

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Custom Business Insurance Solutions

Business Insurance For Your Company

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Business Insurance For Your Company

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We Had An Idea To Make Insurance Better For Business Owners

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.

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Who we Help

We Help Information Technology Professionals

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.

App Developers Computer Consultants Computer Manufacturers Computer Repair and installation Data Scientists Data Storage companies Digital Marketing Agencies IT Consultants IT Project Managers IT Service Providers IT Staffing Agencies IT Staffing Companies Network Security Companies Programmers SEO and SEM Consultants Social Media Consultants Software developers Technical Writers Technology Companies Telecoms Web Designers Web developers Web Hosting

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