Tristate Business Insurance Blog

Business owners must protect themselves with business liability insurance, workers compensation, and a host of other commercial insurance needs. But every company and business is different and cannot be pigeonholed into one generic category. Tristate Business Insurance takes the guess work out of small business insurance one industry at a time.

At TriState we tailor make insurance policies for a long line of specialty areas, such as coverage for contractors, garage owners, HVAC companies, home based businesses and much more.

Through commercial insurance brokers, companies get direct access to different insurance policies with particular emphasis on their small business focus. Your business is unique, your insurance policy should be too.

TriState is a business partner who understands the needs of your business and the role of small businesses in our economy and communities. Small businesses have an incredible impact on employment, economy and communities TriState appreciates the opportunity to give businesses the ability to have commercial insurance policies that cover their risks at the right price. Contact us.

Many businesses have special auto insurance needs. If your business uses autos for business purposes such as delivery or good or transporting people, if you rent out cars and SUVs for compensation, or if your vehicles are used to meet clients or to transport employees your business needs commercial auto insurance.

If you have commercial auto insurance, you should know that generic commercial auto insurance does not always work for every business or provide the coverage that you require.  That is why TriState Business Insurance divides small businesses in MD, VA, and DC into industry-specific categories. This way we can provide to you better, more targeted auto insurance for your business.

There is a reason for commercial auto insurance. Make sure your business and your employees are properly insured and save your business from unwanted risk.

Tristate Business Insurance offers business auto insurance solutions specifically designed for companies just like yours, contact us.

It only makes sense to speak with an insurance broker. Whether you need business insurance or personal insurance, insurance companies only have one price and one package to offer you. An insurance broker has numerous insurance companies with which to work, so can provide you with the best policy at the right price.

An insurance broker for either business insurance or personal insurance can look at what many insurance companies have to offer and create a policy for you for the most bang for your buck. When times are tight, why spend unnecessary money on insurance?

When you have an insurance broker look at your insurance policies, you will almost always save money. You will save money either on the cost of your policy per year, on the amount of your policy coverage per expenditure, or if the worst should happen, you will get the most money back in the event of a loss.

It doesn’t cost any money to have TriState Business Insurance review your current policy, contact us.

Liquor Liability Insurance is necessary to your business if your business in anyway deals with alcohol. If your business buys, sells, manufactures, distributes or sell alcohol you need liquor liability insurance. Different and separate from commercial insurance, liquor liability insurance protects your business against loss or damages as a result of claims against your business as a result of alcohol.

Usually, these claims are a result of customers who are “under the influence” and have either injured themselves, someone else or property.  Unfortunately, damages resulting from alcohol induced claims tend to be very high, and too often business do not have enough coverage. If you sell or manufacture alcohol, you are exposing yourself to high liability. You may need the additional coverage of liquor liability insurance, contact TriState Business Insurance.

In this economy, the independent contractor has more and more homeowners fix up the homes in which they live rather than move. As an independent contractor you have plenty of subcontractors on your job sites and in your customers homes; you need business insurance coverage: liability insurance, property insurance, commercial auto coverage, Worker's Compensation, and bond coverage.

From General Liability to Inland Marine coverage or Surety & Fidelity bonds, we handle it all. The following are some of the industries we proudly cover.

• Carpenters
• Painting Services – Interior & Exterior
• Janitorial Services – Both Residential & Commercial
• Electricians
• Home Remodeling
• Plumbers
• Roofers
• Siding Installation
• Landscaping

Unfortunately, no matter how long you have been in business and regardless of your skills, risk is inherent in operating as an independent contractor.  If you are an independent contractor interested in getting business insurance, contact TriState Business Insurance.

Too many small businesses in the Virginia, Washington, DC and Maryland areas are home based businesses. IT, business consultants, professional organizers, event planners and caterers are only a few. These small businesses are imperative to local economy as well as our national economy.
 
But too many home based businesses operate without business insurance. Too many home based business owners hope that either nothing will happen, or that their homeowners insurance will cover any loss. Bad news, homeowners insurance does not cover any loss of equipment, nor does it cover any liability. If you work from home, not only do you need business insurance, but most likely,  your standard household insurance may be invalid if you work from home.

Many small business owners who operate out of their homes feel as though they don’t need business insurance, or they can’t afford it. But you have invested much in your business, and in your businesses future, your business should be properly insured. Business insurance can save you and your business from the unexpected.

Every home-based business should be safeguarded with commercial business insurance. Contact TriState Business Insurance for information on home based business insurance.

Controlling workers’ compensation costs is a top priority for employers.

During the next 12 months, employers say cost containment is their number one workers’ compensation insurance concern, a new study shows. Some 59% of employers say they are very or somewhat concerned about cost containment in 2012. Employers also expressed concerns about increasing exposures, renewals and rising fraud behaviors.

48% of all respondents to the survey reported a workers’ compensation premium increase in the past year.

The 2012 P&C Workers’ Compensation & Safety Survey was conducted from Jan. 6 to Feb. 24. Over 3,500 employers nationwide participated in the survey.

Participants came from 20 business sectors, with heaviest representation from manufacturers (17 percent), health care and social assistance providers (15 percent), and construction (13 percent). Some 57 percent of those participating reported workers’ compensation premiums under $50,000 annually.

Among the companies surveyed, 54% reported a payroll increase in the last year.

Controlling Costs

Participants said the most effective measure they took to control workers’ comp cost was having a safety-minded culture (65 percent).

While 59% indicated that a light-duty or return to work program was an effective or highly effective method of controlling costs, only 45% of respondents reported having a written return to work policy.

Other popular cost control measures were, in order of popularity, onsite accident evaluations, loss prevention evaluations, zero-accident goals, having a dedicated claims manager, safety committee efforts, and using a preferred occupational medicine facility.

Other Concerns

After cost containment, employers expressed notable concerns about increasing exposures (35%), renewals (35%), and rising fraud behaviors (31%). Market availability was a concern of 26% of respondents, and just over 20% were worried about insurance carrier stability.

If any of these concerns mirror yours, or if you are interested in ideas for worker's comp insurance cost containment, contact TriState Insurance.

Insurance Journal

Certainly, being in the restaurant or food business, you are wary of food borne illness. Responsible restaurants and caterers need to be insured for liability from injuries or lawsuits. This means insurance for exposure to revenue loss as a result of potential Food Borne Illness Outbreaks.

Also known as business interruption insurance and extra expense coverage, TriState Business Insurance underwrites insurance for food borne illnesses for restaurants, caterers and bars.

The hospitality industry is vulnerable to food borne illness. The results of food borne illness outbreaks are devastating.  Your business needs Business Interruption Insurance.

Essentially, you need insurance against the stoppage of revenue; if the revenue drops you need a way to cover business expenses. Standard Commercial Insurance Policies may not help you in the event of a food borne illness scenario. For information on Business Interruption Insurance or Food Borne Illness Coverage, contact us.

Commercial insurance is absolutely necessary when running a business. Businesses must be protected with business liability insurance, as well as workers compensation. Restaurants are no different in that they need protection for liability; however the types of insurance they need is much more comprehensive because their exposure is greater.

The business needs of restaurants are different and your insurance coverage needs to be tailored to your potential exposure. At TriState Business Insurance, we offer every type of restaurant insurance coverage as well as the liability needs that are unique to your restaurant.
 
Tristate specializes in providing the right protection for Restaurant owners. We understand that your insurance risks and needs are much different than any other industry. Contact us to see how you and your business can be better protected.

Does your existing business insurance give you enough coverage? Commercial Umbrella Insurance give your business more protection when your existing liability insurance policies don’t cover all the expenses.

In the event of an unexpected situation that exposes you to liability, umbrella liability or excess liability policies add give your business another layer of protection to your general liability policy or other insurance policies. You are protected when accidents happen. Accidents happen, but umbrella liability insurance helps ensure that your business is protected.

Contact TriState Business Insurance for more information on how Umbrella Liability Insurance can help your business.