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Reasons Small Business Insurance is Necessary

Joseph Coupal - Monday, September 30, 2019
TriState Business Insurance - Virginia, Maryland, and DC

Being a small business owner puts you in control of your destiny, but there are major costs that go along with being the boss. With licences, office rent, and staff payroll to deal with already, some aspiring entrepreneurs shrug off the idea of purchasing business insurance in the start-up phase. Why worry about a “what-if” scenario when you have more tangible expenses to deal with, right? But hiccups on the job happen all the time, whether it’s a grease fire wrecking the kitchen of your restaurant, or a cyber-attack stealing sensitive company data. And when you’re the owner, you’re the one left holding the bag when things inevitably go wrong. Put simply, protecting your business with an insurance plan outweighs the costs of any disaster.

It’s time to demystify the headache of getting insurance and make sure you’re living the dream for years to come. Here are some reasons why small business owners should have a coverage plan in place.

Keep things running during interruptions

Beyond the immediate costs of repairs or replacements, you also need to make sure water damage, fire or theft doesn’t derail your company’s day-to-day activity. Since every second you’re out of business is a financial setback, a business interruption coverage plan can help shoulder the load of operating expenses like rent and staff wages, while also covering the cost of profits lost. If you’ve suffered extreme property damage, interruption coverage can also assist with the relocation costs as your official workplace undergoes repairs.

Protect your property from disaster

Commercial property insurance provides protection for your workplace, from the building itself to the contents inside it. This means you’re safeguarded from damage at the hands of disasters like fire, or water damage resulting from a burst pipe. In the case of a break-in, property insurance can likewise help take the sting out of necessary building repairs and security upgrades, and can help with the cost of replacing stolen equipment or goods.

Ward off cyber crime

Property theft is an obvious concern for businesses. What many don’t consider is that an enterprise’s online presence can be just as vulnerable to thieves as their office space. A sneaky cyber attack could uncover confidential information, potentially putting the finances and personal data of your clients––and your company––at risk. Privacy Breach coverage can help get back in business sooner by recovering remediation expenses, business interruption loss and legal expenses.

For more information on small business insurance, contact TriState Business Insurance today.

Yahoo! Finance

Accidental Death & Dismemberment Insurance Policies

Joseph Coupal - Tuesday, September 24, 2019
TriState Business Insurance - VA, MD, DC

What Is Accidental Death & Dismemberment Insurance?

Accidental Death & Dismemberment (AD&D) Insurance helps pay a lump sum in the event of a covered accident. Specifically, these covered accidents are ones that could not be foreseen and are fatal or dismembering. Deaths that come due to prior medical conditions are not covered under this accidental death and dismemberment policy. hy Employees Need Accidental Death & Dismemberment Insurance

Unlike Workers’ Compensation, which covers only work-related accidents, AD&D insurance applies wherever covered accidents happen, such as at home or on the road. Along with life, disability and critical illness benefits, AD&D insurance can help round out a comprehensive benefits package. Access to a full range of protection solutions can help attract and retain top employees.

What Does Accidental Death & Dismemberment Insurance Cover?

Accidental Death & Dismemberment insurance policies (AD&D) provide benefits for covered accidents that result in fatality, paralysis, the loss of a limb, eyesight, hearing, speech and more. An AD&D plan may include coverage for employees only or employees and dependents and typically provides 24-hour coverage no matter where a covered accident occurs, whether at work, home or away for:

  • Loss of Life
  • Loss of Speech
  • Loss of Hearing
  • Loss of a Hand, Foot or Sight
  • Loss of Thumb and Index Finger on Either Hand
  • Loss of Movement

AD&D applies in the event of a covered injury, paralysis or death resulting from a covered accident, There are plenty of plan options available.

Benefits are payable for losses that occur within 365 days of the covered accident.

Plans are available on an employer-paid, voluntary and standalone basis.

A variety of options are available to choose from, including high coverage limits and no medical underwriting necessary.

Is Accidental Death & Dismemberment Insurance Flexible?

In addition to the standard AD&D plan, there are enhanced and premium plan designs and services that can be customized to best suit the specific needs of each company. The following optional benefits are also available with AD&D Insurance:

  • Accelerated Death Benefit
  • Accident Hospital Income
  • Adaptive Home and Vehicle Benefit
  • Anti-Inflation Benefit
  • Bereavement Counseling Benefit
  • Child Education Benefit
  • Coma Benefit
  • Common Disaster Benefit
  • Critical Burn Benefit
  • Day Care Benefit
  • Funeral Expense Benefit
  • HIV Occupational Accident Benefit
  • Loss of Use Benefit
  • Newborn Coverage
  • Newlywed Coverage
  • Paralysis Benefit
  • Permanent Total Disability
  • Rehabilitation Benefit

TriState Business Insurance makes it easy for brokers and employers to find the right coverage. Connect with us today.

Why an Independent Agent?

Joseph Coupal - Tuesday, September 17, 2019
TriState Business Insurance - Insurance Broker or Buy Direct

Not all insurance agents are the same! Choosing the right one can make a big difference – in price, service, and value.

With other agencies, you get one company that sells one brand of insurance. With an independent insurance agency like TriState Business Insurance you get choices.

Why? Because independent insurance agencies, like TriState Business Insurance, represent a number of different insurance companies, and can compare coverage and prices to find the best possible value for your individual circumstances. As independent agents, we are members of the community, and we’re committed to doing business face-to-face and being your advocate in times of need.

Serving Virginia, Maryland, and DC, here are a few reasons why TriState Business Insurance should be your first and last top when looking for insurance.

  • We work for you when you have a claim.
  • We are not beholden to any one company. This means you don’t have to change agencies as your insurance and service needs change.
  • We are your consultants, working with you as you determine your needs.
  • We are value-hunters who look after your pocketbook in finding the best combination of price, coverage, and service.
  • We offer one-stop shopping for a full range of products, including home, renters, auto, business, life, health, and retirement plans.
  • We can periodically review your coverage to keep up with your changing insurance needs.
  • We are committed to customer satisfaction – it’s the key to our livelihood.
  • We treat you like a person, not a number.
  • We are licensed professionals with strong customer and community ties.

There is a difference. To find out how our independent insurance agency can help you find the right insurance coverage, please contact Tristate Business Insurance today.

Do You Need Commercial Auto Insurance ?

Joseph Coupal - Tuesday, September 10, 2019
TriState Commercial Vehicle Insurance  for VA, MD, and DC

As a business owner, you need the same kinds of insurance coverages for the car you use in your business as you do for a car used for personal travel -- liability, collision and comprehensive, medical payments (known as personal injury protection in some states) and coverage for uninsured motorists. In fact, many business people use the same vehicle for both business and pleasure. If the vehicle is owned by the business, make sure the name of the business appears on the policy as the "principal insured" rather than your name. This will avoid possible confusion in the event that you need to file a claim or a claim is filed against you.

Whether you need to buy a business auto insurance policy will depend on the kind of driving you do. A good insurance agent will ask you many details about how you use vehicles in your business, who will be driving them and whether employees, if you have them, are likely to be driving their own cars for your business.

While the major coverages are the same, a business auto policy differs from a personal auto policy in many technical respects. Ask Lallis & Higgins Insurance to explain all the differences and options.

If you have a personal umbrella liability policy, there's generally an exclusion for business-related liability. Make sure you have sufficient auto liability coverage. Contact TriState Business Insurance for more information.

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