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Tristate Business Insurance

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10400 Eaton Place, Suite 320
Fairfax, VA 22030
info@tristatebi.com

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EOY is Perfect Time for Biz and Family Insurance Review

Darren Kincaid - Thursday, November 29, 2018
TriState Business Insurance - personal and business insurance va md dc

Some of you reading this have been served by TriState Insurance (Virginia, Maryland, and DC clients) for well over a decade and have come to value the smooth sailing associated by being served by a team of independent insurance agents whose profession is dedicated to researching and securing value for your insurance dollar.  Unlike traditional insurance agents whose job it is to sell insurance, you've come to value our role in consulting you as to avenues where you can decrease insurance cost, increase coverage, as well as decrease coverage as life changes dictate avenues for you to save.

One of the biggest constants in life is change. We have changed over the years serving you as with each passing year we is past year, and surely so have you. And of course our carriers and their policy offerings are ever changing too!We are always happy to discuss carrier changes with you and to make sure that you are receiving the best possible coverage at the best possible rates!

What has this past year been like for you? There are so many changes that can take place in a year that could affect your insurance needs, and we have compiled a list of possibilities to get your wheels turning...

  • New business
  • Quit smoking
  • Started smoking
  • Teen driver coming of age
  • Home improvements (new roof? Windows? additions?)
  • New Income properties (sold properties)
  • Child going to college (child returning from college?)
  • Marital status change
  • New lien holders
  • International travel (extended travel?)
  • New valuables (phones, tvs, computers, jewelry, etc)
  • New watercraft (sold a boat?)
  • New recreational vehicles (sold a camper, a qaud, etc?)

We know this isn't a comprehensive list... but we are looking forward to hearing more about your year and what we can do to set you up for success this coming year! Time to re-focus! Many people start their resolutions at the first of the year. But what about starting some now - At the start of your upcoming policy term? Make a new goal and see what you can do in next 12 months!

To all our existing clients, we sincerely look forward to hearing from you, collecting the information regarding your family and business life changes, and researching avenues to delivery (keyword there is deliver) better value for your insurance investment.  To those of you who we do not yet currently serve, call us! There are smarter ways to protect your business and your family and we have over 40 years combined experience to show you how.   

Insurance Broker or Buy Direct?

Joseph Coupal - Friday, November 16, 2018
TriState Business Insurance - Insurance Broker or Buy Direct

An insurance broker can save you time, money and worry. Just like an accountant or lawyer who provides you with professional advice, based on years of training and experience, a qualified broker can do the same with your insurance.

Insurance can be incredibly complicated to fully understand, and an insurance broker can help you understand the details of a policy and also work out what level of coverage you need so that you are properly protected.

Using a broker doesn't cost more. Often it costs less because brokers have knowledge of the insurance market and the ability to negotiate competitive premiums on your behalf. In addition, because insurance brokers deal with a range of insurance companies directly, sometimes they can access policies that are not available to most consumers.

If the worst happens and you do have to make a claim, a broker will act on your behalf, liaising with the insurance company to negotiate the best possible outcome for the client. So whether it's home, car, life or business insurance, brokers are the best, most trusted source of advice available to make sure you are properly protected.

For more information or for a comparison quote, contact TriState Business Insurance.

NIBA

Do You Need Life Insurance?

Joseph Coupal - Wednesday, November 14, 2018
TriState Business Insurance - Life Insurance

We thought we would answer a question in this blog that we get all the time: “Do I need Life Insurance?”

Life insurance can fill a wide variety of needs including covering the finite years of a mortgage and protecting the interests of a special-needs child who will need financial support after you’re gone.

In fact, although, 70% of Americans consider life insurance a necessity for themselves, 41% have no life insurance at all.

Here’s a guide to who needs life insurance and what kind of policy likely works best in each situation.

Breadwinner

Life insurance can provide “income replacement” so that your family can continue to pay everyday expenses.

Term life insurance can cover your working years.

Stay-at-home parent

Life insurance would cover the cost of paying for services the parent does for “free,” such as child care.

Term life can cover the years your kids are young.

Divorced parent

A policy could cover the support payments that a divorced parent makes.

Term life can cover the years of support payments.

Parent of a special-needs child

Life insurance can make sure the child will have financial support no matter when a parent dies.

Permanent life insurance provides a payout no matter when you die.

Homeowners with a mortgage

A policy can cover mortgage payments, so your family doesn’t have to move if you die.

Term life insurance can match the years of a mortgage.

Someone with co-signed debt (such as student loans or credit cards)

Life insurance could cover the cost of the debt.

Term life can be timed to end with the debt payments.

High net worth individual

Life insurance can provide funds for heirs to pay estate or inheritance taxes.

Permanent life insurance is best for those with estate tax concerns. Someone who wants to provide an inheritance

If you don't have a lot of wealth, life insurance can provide a small inheritance to heirs.

Permanent life insurance will pay money for the inheritance, no matter when you die.

Business owner

Life insurance can pay off business debts if you die, help heirs to the business pay off estate taxes, or fund a buy-sell agreement that allows a business partner to buy out your share.

Term life or permanent life, depending on the issue to be solved.

Investor who has maxed out other retirement plans

Life insurance with a cash value component can provide a supplemental source of retirement savings.

Permanent life insurance, which builds cash value that you can access.

People concerned about paying for their own funerals

Small life insurance policies can pay for your funeral and final expenses.

Permanent life, such as final expense insurance.

For more information on Life Insurance, contact TriState Business Insurance.

nerdwallet.com

Reasons Your Business Needs Umbrella Insurance

Joseph Coupal - Wednesday, November 07, 2018
TriState Business Insurance - Virginia, Maryland, and DC

Five reasons why your business may need umbrella insurance

  1. You could go bankrupt without it — especially if your business is in a litigation-prone industry. One large jury award could quickly put you out of business, if it exceeds your policy limits.
  2. Your customers require it — if an accident occurs, they want to make sure your business has enough coverage to handle it.
  3. Your business is inherently dangerous — you manufacture hazardous materials or have a high risk of occupational injury to your employees.
  4. You have company vehicles or employees who drive their personal cars for business — which brings liability on every mile traveled.
  5. You have a physical presence — one slip, fall or other accident on company property is all it takes.

Make sure your business plans for that rainy day. Consult TriState Business Insurance, an independent insurance agent, to learn more about a commercial umbrella policy to protect your business.

Do You Need Umbrella Coverage for Your Business?

Joseph Coupal - Monday, November 05, 2018
TriState Business Umbrella Insurance Policy

Can your business weather a potential lawsuit?

Business owners don't need additional stressors, but here's a big one: nearly 80% of businesses are not covered against potentially business-ending lawsuits and catastrophic losses. This is because they fail to add commercial excess and umbrella insurance to their coverage. When it comes to protecting your business, umbrella coverage is a necessity, not an option.

Umbrella coverage provides extra protection businesses need for unexpected events that can quickly exceed the primary insurance limits. These events can range from devastating lawsuits to liability claims, employee auto accidents, and more. Umbrella coverage is surprisingly affordable. This is a supplemental policy, not a standalone policy. Liability is part of doing business. Every business that wants to stay in business and stay competitive should have an umbrella policy for proactive peace of mind. It offers extra protection with limits that go well beyond standard general liability limits in the event of a catastrophic loss or lawsuit,

Consult TriState Business Insurance, an independent insurance agent, to learn more about commercial umbrella insurance.