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Common Small Business Insurance Mistakes

Common Small Business Insurance Mistakes

Small business enterprises are widely regarded as the spine of the U.S economy. As per the Governmental Agency Small Business Administration(SBA), small businesses constitute about 47.5% of employment in the private sector.

Business Insurance Coverage in Conyers, GA | The Tabb Insurance Agency

At the helms of budding small businesses are business owners who often have to wear multiple hats to make sure their enterprises are thriving. However, while the ability to multitask is quite admirable, small business owners may lack expertise in certain areas, business insurance being one of them. 

 

Shopping for small business insurance can be confusing, exhausting, and time-consuming, especially for new startups. Efforts to cut corners and save time and money can have the business spending more time and money down the road

Here are a few examples of the common mistakes small business owners make when buying Business Insurance in Conyers, GA.

Mistake 1: Assuming Your Operations Are Too Small for Insurance

You may have only just launched your business or have a small enterprise going on with low overheads and a small turnover. It is easy to feel like there’s nothing much to insure in such scenarios, but the truth is, every dollar counts, especially for a small business that can’t afford inconveniences. 

Insurance may seem like an unnecessary cost, but what you end up paying to fix damaged equipment or handle a lawsuit could be more costly than what you pay in insurance premiums.

Mistake 2: Buying a Cheap Policy on the Internet

Many insurance service providers are now offering business insurance as a commodity that can be sold online. Naturally, this has reeled in many small businesses owners who find buying business insurance a complicated process in between the many company responsibilities they have to take charge of.  While there is nothing particularly wrong or illegal about buying an insurance policy online, but convenience doesn’t exactly mean that it’s the best deal for your business. You need to keep in mind that business insurance can be very intricate. Insurance agents can use their better understanding of insurance limits to manipulate you into committing to a bad deal when you think you’ve bought well.  

Mistake 3: Ignoring Workers’ Compensation Insurance

Choosing to ignore investing in workers’ compensation can potentially cost your business tens of thousands of dollars, if not more.  If your employee gets hurt while working for you, you’ll have to pay for their medical expenses unless you have workers’ compensation. It may seem a tad expensive, but it’ll cost you a lot less compared to paying for an injury or legal settlements out of pocket. 

Choosing to ignore investing in workers’ compensation can potentially cost your business tens of thousands of dollars, if not more.  If your employee gets hurt while working for you, you’ll have to pay for their medical expenses unless you have workers’ compensation. It may seem a tad expensive, but it’ll cost you a lot less compared to paying for an injury or legal settlements out of pocket. 

Worker's Compensation Insurance in Conyers, GA | The Tabb Insurance Agency

Mistake 4: Not Reading the Fine Print

As much as insurance policies are often long and incredibly detailed, you want to read the contract and understand its terms before making any commitments. Small business insurance policies often constitute various warranties, terms, and conditions. Not complying with the agreed terms can lead to your insurance claims being revoked or your entire policy being rendered invalid.  For instance, some insurance companies may consent to compensate you for stolen equipment only if certain security measures were in place. Therefore, bear in mind that the devil is in the details, and you need to make sure that you fully understand the terms of your contract and if you can comply with them. 

Mistake 5: Being Underinsured

Working hard to get your business off the ground is no easy feat, and every penny counts. We understand there is little to no room to accommodate unnecessary costs when trying to make your business profitable.  In between cutting costs and making your operations more efficient, you may think that nothing unfortunate may happen to you and can take the gamble of proceeding with underinsurance.  However, being underinsured will mean being under-compensated. For example, let’s say you insure business assets worth $75,000 for a sum of $50,000. If a fire breaks out and causes damages worth $20,000, your insurance company will give you less in compensation than you would have received had you insured your equipment at the right replacement value. 

Mistake 6: Buying the Wrong Insurance Policy

small business owners don’t understand the insurance policies, or their insurance agent doesn’t have a strong familiarity with the business’s industry of operation, thus misadvising their clients. For example, some business owners are wrongly led to believe that if they operate from home and their house gets broken into and robbed, their home insurance will step in to cover the damages. As such, it behooves every business owner to do diligent research while shopping to know your insurance options. Make sure your ideal policy is in line with your business needs. Try and understand the differences between personal insurance and business insurance, especially since your personal life and work-life may be strongly intertwined. Additionally, ensure that you work with a local agent who not only understands your industry of operation but has some experience dealing with other companies in your line of work. This way, you can be sure that they know the associated risks and can offer the right coverage for your business.

Business Insurance Provides a Great Safety Net Against Unexpected Events

The pressure to make something out of their small ventures can be tough for small business owners. But the truth is that no matter how much progress your enterprise has made, an unfortunate event can severely dent your business. Yes, insurance is complicated, and it can be overwhelming figuring out what insurance is ideal for your small business. But people in unfortunate circumstances usually take issue with the coverage they did not have when they needed it rather than the coverage they have, and you don’t want to end up in regrets. That’s where Tabb Insurance Agency comes in. We know how hard it is to run your business, and so our services are designed to help you navigate the world of insurance with ease. 

 

Reach out to us today at 770-483-1800 for a free quote and consultation on how you can give your investment the best level of protection.

3 Reasons You Need Contractors Insurance

With the introduction of DIY products and ambitious projects done on Pinterest, more and more people are trying their swing at becoming a contractor in their spare time. Working as a contractor seems to be more fun than working a regular 9 to 5 job. Being a contractor means you’re the boss. You could own your own business, have business partners, or just practice contracting as a fun hobby. Being the boss means that you are on top! When you are the boss, you will have better working conditions, you set the start time of the workday, and there is no HR officer who will take notes while glaring at you. Being a contractor, you’ll need some type of insurance for your business. Good thing there is a type of insurance just for contractors! But, why do you need insurance? Below are listed 3 great reasons why you should invest in getting contractors’ insurance.
 

  1. Claims Protection

When you are a contractor, you are solely responsible for the area in which you do your work. If someone were to get injured within your area because of an accident or plain negligence on your part, you can expect that person to file a claim against you. This same responsibility applies to your employees if they were to cause any type of accidental or, in the worst case, intentional damage to the property area you are working within. Why do you need this protection? These types of claims could be big enough to completely shut down your business if you’re forced to pay for the damages out of pocket. To avoid the potential of disasters like this, you should consider taking a general liability insurance policy for contractors. Whatever potential financial liabilities you end up with, you can be reassured that the general liability insurance will cover them and help to keep your business from shutting down.
 

  1. Protection of Your Employees

As we know, workplace accidents happen, they’re accidents. High-risk contracting jobs like roofing are a step away from accidents happening. One wrong step while working on a roof and the accident could lead to a worker sustaining an injury. The injured employee has every right to file a claim against you, they were hurt while working on your job site. They can file a claim for their pain and lost wages due to recovery time. If you don’t have worker’s compensation insurance it’ll be a path of trouble. Almost all states require employers to get workers’ compensation insurance. This coverage is a win-win for all parties involved. Injured employees can get all the benefits that are due to them and it wouldn’t matter who is at fault for the unforeseen accident. On top of that, you will be spared from the cost and hassle of a potential lawsuit that the injured employee could have filed against you.
 

  1. Payment of Legal Costs

Here is a big one. Did you know that uninsured contractors often get hit hard by attorney’s fees, court expenses, and other legal financial expenses when some films a claim against them in court? In case of an interested party suing you in court, your contractors’ insurance policy should cover the legal costs that a lawsuit may entail. This is a piece of mind when you go to work a new job with a new client. 

Choosing Auto Insurance That’s Right for You  

These days we’ve seen an influx of people choosing to travel rather than buy material things. It’s about the experiences over physical objects. Usually, choosing a car would result in hours of research, test-driving, and multiple visits to different car lots. You got the car and you’re all set to hit the road, right? Being behind the wheel means you have one final decision to make: what type of auto insurance is right for me? The usual trend is that many will see the cheapest option and go with it just to get it and go. This path is riddled with hazards that may end up costing you more in the end. Take the time to sit down and evaluate which type of auto insurance matches who you are and how you drive.  

How Are You Riding? 

Most of us are given a hand-me-down car when we first get on the road. It’s a little beat up from its long lifetime, but it’s still a great running car. If this is the case you may be straying away from quality insurance, but it’s still important to protect yourself with liability insurance for potential accidents. Do you tend to be protective of your vehicle and want to keep it clean and pristine? Comprehensive insurance may be the best option for you. Comprehensive insurance is a policy that covers all losses that aren’t covered by collision coverage, such as weather-related incidents or vandalism. 

What Are Your Assets? 

Minor car accidents can end up becoming a bigger hassle than originally anticipated. Add a potential physical injury or a possible totaled car for the situation to become a nightmare. Every state is different, and it’s important to read up on your state’s circumstances and laws on handling auto accidents, as you could be held personally responsible for repair and medical costs. What happens if the total is over the state’s minimum liability and you don’t have that type of money? Other assets like your house or complete savings could be at risk in the case of a lawsuit. Umbrella insurance is typically encouraged in case there is a need for any assets to be covered. 

Ride-Share Insurance 

With the increase in popularity of services such as Lyft and Uber, you may be interested in getting a Ride-Share policy. If you are working with one of these companies don’t assume they have insurance to cover you. In actuality, the company’s full coverage doesn’t kick in until the driver is on the way to pick up a passenger or already has passengers in the vehicle. Be wary that if anything does transpire, the rideshare company’s insurance may not cover it. If you plan to work with one of these rideshare companies the best course of action would be to notify your insurance provider immediately. 

Additional Services to Help Ease a Potential Headache 

As the old saying goes, “Better safe than sorry,” and the saying would be correct. You never know when life could throw a curveball your way. If you are someone who worries and is anxious about the next unexpected issue, you may find it beneficial to look into additional small benefits you could add to your current insurance policy. Having this small cushion could save you from a potential fall down the line. Here are some options to consider: 

  • Roadside Assistance – If your car breaks down, you won’t have to worry about finding and paying for a tow company to get you out of your current predicament. 
  • Rental Car Reimbursement – If your car is in a shop, your insurer will pay for your rental for the time your personal vehicle is unavailable. If you cannot go with a vehicle this addition can save you frustration and expenses.  

Full Glass Coverage – With this benefit, your windshield will be repaired or replaced without spending a penny. Most minimum policies won’t cover cracks or chips in your windshield. 

Why Do I Need Renter’s Insurance? 

If you are planning to move out on your own for the first time or maybe you are renting a room, chances are you’re going to need to invest in renter’s insurance. Only a staggering 41% of renters actually have renter’s insurance. Some building managers require tenants to get renters insurance, but many don’t. Just because no one is requiring you to buy it doesn’t mean you should write it off.

What Does Renter’s Insurance Cover? 

Renter’s insurance will generally offer two or more types of coverage: personal property protection, liability protection, increased living expenses and guest medical protection. Personal property will protect your belongings in case there is a covered loss, and liability protection can help protect you financially if someone is injured in your home and they file a lawsuit. In the case of increased living expenses, this policy helps cover the cost of staying someplace else after a covered loss renders your home uninhabitable. Guest medical protection is a coverage option which can help pay for medical expenses for someone who was injured at your home.   

What Doesn’t It Cover?

We’ve gone over what renter’s insurance covers, but what doesn’t it cover? The answer could vary based on different circumstances, but we will stick to the basics. Typically, renter’s insurance will not cover damage done by flooding, hurricanes, earthquakes, tornados, sinkholes, pests, or terrorism. When taking inventory of your personal items, it is important to check with your policy to see if a higher ticket item will be covered in the event of a loss. If not, you may want to raise your coverage limits. Another important note to keep in mind is that if you have roommates, they will not be covered by your policy unless they are directly added onto the policy.

 

What If I Don’t Own Much? 

In the end, you may think that your belongings aren’t worth much, but when it comes down to replacing the electronics, clothing, furniture, and even appliances, the price tag will grow very quickly. If you had a small house fire, this could still lead to thousands of dollars in repairs and replacement if it is needed. As we mentioned earlier, renter’s insurance is there to help protect you in case of the unexpected. You may believe disaster could never strike, but truly you cannot know.  

How Much Does Renter’s Insurance Cost?

As with most things, the insurance rate depends on a few factors and may be different based on those circumstances. These circumstances can be based on where you live, the type of policy you are looking to buy, and the value of the property you are insuring. In general, a basic renters insurance policy can cost between $10 and $20 a month, or $120 to $240 a year. Reach out to your agent today to get a renters insurance quote and start protecting your belongings. 

Is Your Business Ready for a Natural Disaster?

How can a business owner prepare for a natural disaster in Conyers, GA?

It is easy to prepare for expected natural disasters such as hurricanes, floods, storms, tornadoes, earthquakes, and droughts. The government makes an effort to warn homeowners and businesses of impending natural disasters to prepare in advance and protect themselves. However, We may not always expect disasters such as disease outbreaks, explosions, wildfires. It would be best to prepare well for both expected and unforeseen disasters. Failing to have a plan to respond to natural disasters can be a major setback for a small business.

Auto Insurance

Here are tips to help you protect your company property, workers, and customers when disaster strikes:

Anticipate Disasters

 

There are many types of natural disasters. Knowing which ones are likely to strike in your area and affect your business is the first step in protecting your business assets, employees, and clients, even though Conyers is one of the safest cities in Georgia.

Here are some of the disasters you need to prepare for:

  • Lightning. Conyers has a lightning score of 43 percent.
  • Hurricanes from June to November.
  • Tornadoes from April to June. There are about 30 tornadoes every year, with Conyers having a tornado score of 6.2 percent.
  • Wildfires.
  • Hail score of 19.7 percent.

Contingency Plan

 

Prepare how you will keep your employees and customers safe in case of a disaster. An evacuation plan is always important. Train your employees on how to respond and carry out drills to see if the plan is viable. Take note of things such as:

  • Evacuation route. It is a good practice to have several exit doors in your building. The emergency exit doors need to be unobstructed and safe. Employees need to know where they are located and where they lead.
  • Where to meet after the disaster strikes – In case of a fire, you need a fire assembly place where all employees and clients gather for a headcount. Other disasters also require to have a similar plan such that if a tornado struck during working hours, you all know the designated place to meet for further assistance.
  • Where to shelter – You are required to have a safe location within your business premises where employees and clients can shelter in place until it is safe to leave the building.
  • Communication with employees. How will you keep in touch with your employees and managers in case of a disaster? The disaster could either prevent them from reporting to work or leaving the work premises. You need to have their home and emergency contact details to maintain communication until they are safe.
  • Business continuity plan with details on where your business will continue operating until the premises are safe for re-entry. Where essential business documents are stored and how to retrieve them, as well as important contact details. Keep an address book with the numbers of your auto insurance company, business insurance company, disaster response teams, recovery companies, clients, and employees. In the unfortunate event that you lose employees during the disaster, you also need to notify their next of kin. You, therefore, need to keep this information in a safe location.

Data Backup

 

Lightning causes computers to shut off suddenly, which can destroy the computer hardware. It can lead to the loss of key business, client, and financial data. While there are ways to recover data lost, it can be costly and sometimes impossible. Power outages cause US businesses data losses worth $7,900 every minute. Apart from lightning, other natural disasters such as tornadoes, earthquakes, and hurricanes can cause destructive power outages. To protect your business from data loss, you need to invest in an uninterrupted power supply (UPS). It will give your employees and managers a few minutes to turn off their computers safely in case of power interruptions.

 

Keeping your computers on grounds above the flood level can give temporary protection. However, the best way to keep your business data safe is by creating a backup in an external server. Cloud storage and virtual private servers are ideal for backing up your business data. You can also make copies of your essential physical documents and keep the original copies in an offsite location. You will also need copies of your software, car insurance, life insurance, and business insurance policies, alongside details such as purchase information, license numbers, and policy numbers. Please keep this information safe because insurance companies will need it to process claims and help you recover fast.

Emergency Supplies

 

Ensure that your business can continue with normal operations even after losing access to your suppliers. Backup supplies can save you on a rainy day.

If your employees are stuck in the office, ensure they can survive without risking their lives by stocking basic supplies such as:

  • A gallon of bottled water for each day.
  • Non-perishable food.
  • Blankets.
  • First aid kit.
  • Battery-powered radio for receiving updates.
  • Local maps.
  • Flashlight.
  • Sanitary items such as toiletries and bathing soaps.

Get Business Insurance in Conyers, GA.

 

Business insurance can help your business recover from income losses, lawsuits, and other losses. However, catastrophe insurance offers the best coverage against natural disasters like floods, hail, tornadoes, and hurricanes. If you have vehicles, get the right auto insurance coverage to protect you and third parties. While car insurance is the most common type of liability coverage, it may not meet all your insurance needs in case of a natural disaster. Talk to a local agent about the available insurance options in Conyers, GA.

 

In addition, insurance companies need evidence that the property damage or loss of lives resulted from the disaster. Keeping a regularly updated photo gallery of your premises can be of great help. Please take photos of your store every once in a while and save them in your cloud storage. Call the insurance company at least every quarter to see if your policy is up to date. If you cannot often call, find out the peak times of different types of disasters in Conyers, GA, and ask for automated updates about your insurance coverage before that time. Even though Conyers is one of the safest cities in the US, ensure that your policy is up to date between April and November every year as these are the months with the most natural disasters in Georgia.

Looking for insurance coverage for your business in Conyers, GA? Call 770-483-1800 for a free quote

The Tabb Insurance Agency in Conyers, GA, is the answer to all your insurance needs. Whether you need business insurance, auto insurance, life insurance, or home insurance, we’ve got you covered. We secure your future and the future of your business, family, home, employees, property, and new car. The advantage of working with us is that we evaluate your needs against different coverages from multiple insurance companies. We are the local agent for providers such as AmTrust Financial, Auto-Owners Insurance, Berkshire Hathaway Homestate Companies, Builders Insurance Group, CHUBB, CAN, DONEGAL Insurance Group, FOREMOST Insurance Group, Grange, and HAGERTY. Bob Tabb, one of the Tabb Insurance Agency owners, has been serving the Atlanta community, born and raised since 1977.

Ours is not just an insurance company; we are family. As such, we protect the lives, health, property, homes, and businesses of the community around Conyers, GA, as if our lives depend on it. When you insure your family or business through our agency, you can rest assured of the lowest rates available. Please read about our experience in protecting lives on our website. You can visit us on SW Conyers, GA 30012 for a free consultation on insuring yourself, your business, your vehicles, your home, and your employees. You can also fill our online contact form or call 770-483-1800 for a free quote.

Giving Back to Your Employees: Why a Great Benefits Package Matters 

Ray Silverstein, president of small business advisory group President’s Resource Organization, has said that there are specific benefits that good employees expect out of a job. Entrepreneur published his perspective that while medical insurance is at the top of that list of expectations, business owners should also be intentional about offering employees retirement plans, disability insurance, and life insurance as well. The reality is, only some benefit packages are required by law. These include withholding FICA taxes for the sake of retirement and disability; complying with FMLA; aligning with worker’s compensation requirements; and giving your employees time off for jury duty, military duties, or voting. However, it’s important to see why a great benefits package–including less traditional benefits like flex time–is key to showing your employees they have value. Here’s why.

 

Employee attainment and retention. 

Randstand US Research has noted that 61 percent of employees would consider accepting a lower salary if the company making the offer had a great benefits package. Forty-two percent of employees would actually consider quitting their current job and accepting a new one elsewhere because they are unhappy with current benefits. An attractive benefits package is basically viewed as a part of a salary offer and can, at times, make up for an annual wage that could be topped elsewhere.

 

Focus and attention. 

Employees who aren’t worried about finances are employees whose minds won’t wander as much at work. When it comes to long-term financial planning, the difference between feeling focused and committed to the job you have (instead of daydreaming for what position you should pursue next) can be rooted in a healthy 401(k) match, life insurance, or college debt assistance.

 

Loyalty. 

You want loyalty not just from your customers but also from your employees. Employees who feel seen and understood seem to know that their employer recognizes the number of hours they are putting in, not just in the office but on the telephone at home and during what was supposed to be a lunch break as well. At times, this recognition looks like the benefit of flex time. This may mean permission to head home early on a Friday, or permission to work some days remotely from home. Flex time also recognizes the pull of family circumstances on full time employees. 74 percent of employees say they have missed work due to a family circumstance. Employers who offer benefits communicate that they understand employees are also parents, children of aging parents, and simply “doing life” with people they love who have unexpected needs. 

 

Overall general health. 

Employees who have a strong health insurance package are more likely to see a physician when health issues arise. Instead of avoiding astronomical bills and giving a potentially treatable problem a chance to snowball, employees with health care plans, co-pays, and reasonable deductibles are less likely to put off important procedures and more likely to seek care when needed. This is where dental and vision insurance also steps in. If the numbers are doable for you as a business owner, you want to communicate to your employees that you fully value their physical and mental well-being.

How Can You Be Safe On The Road?

Did you know that motorcyclists are much more vulnerable to crashes than other drivers? According to NHTSA, there were 5,172 motorcyclists killed in motor vehicle traffic crashes – a decrease of 3 percent from the 5,337 motorcyclists killed in 2016. Motorcycle safety is becoming a growing concern. Of the 5,172 motorcyclists killed in traffic crashes, 94 percent (4,885) were riders and 6 percent (287) were passengers, says NHTSA.

Motorcyclists – How To Stay Safe

NHTSA estimates that helmets saved the lives of 1,872 motorcyclists in 2017. If all motorcyclists had worn helmets, an additional 749 lives could have been saved. An important note is to never buy a used helmet. A used helmet could have issues that are not noticeable on the surface and this could lead to a higher risk while operating a motorcycle. Helmets should not be worn after they have been through a crash. Here are some additional tips to help keep you safe on the road: 

  • Avoid riding in poor weather conditions. 
  • Remember to position your motorcycle to avoid a driver’s blind spot. 
  • Use turn signals for every turn or lane change. 
  • Following the speed limits on the road can help lessen the likelihood of a crash occurring. 
  • Do not weave in and out of lanes. 

Drivers – How To Be Aware of Motorcyclists

It’s not only up to motorcyclists to be safe and aware while driving on the road. Other drivers need to be aware and cautious when driving on the same road as a motorcyclist. Taking precautions while on the road can help protect yourself and those on motorcycles from being involved in an accident. Here are a few helpful tips to help keep you and others safe: 

  • Allow a greater following distance when you are driving behind a motorcyclist.  
  • Exercise extra caution at intersections. Most crashes occur when a driver fails to see a motorcyclist while turning. 
  • Do not try to share a lane with a motorcycle. Give motorcyclists the full lane width. 
  • Always be aware of your blind spots. Motorcyclists tend to be in the blind spots of a vehicle.  

If you would like to learn more about how you can help keep yourself and motorcyclists safe on the road, visit NHTSA. They have more tips and information on motorcycle safety while you are on the road. 

Why Business & Commercial Insurance is Important in Conyers, GA

Are you seeking to protect your business from unforeseen events? Are you looking for a safety net against various financial challenges that may occur within your business life? Perhaps you are searching for ways to minimize your operational risks?

With a comprehensive business insurance policy, you can easily fulfill all of these goals. The right commercial insurance coverage options let you safeguard your business from many financial turmoils, whether they stem from natural or man-made causes.

But finding the right fit in business insurance in Conyers, GA offers can be easier said than done. With a plethora of individual coverage policies, even determining the differences between them can seem like a daunting task.

To help you through the insurance coverage process, here’s a lowdown on choosing your ideal business insurance coverage. By keeping this information in mind, you can select commercial insurance options that cater to your specific requirements.

 

What is Business Insurance?

Business insurance or commercial insurance refers to insurance policies that are designed to protect a business’ finances across different scenarios. These coverage options range from regular operations to specific requirements, which makes them fit for businesses of all sizes.

Since commercial insurance is designed to support businesses through a variety of scenarios, many policies also extend to support employees through different financial challenges. This makes sure that your business doesn’t have to deplete its savings in order to help the people attached to it.

Business insurance can be bundled into one coverage or sold as individual policies. Depending upon your requirements, you can pick either of these approaches. For many businesses, starting from a comprehensive commercial insurance policy and adding more coverage options stands out as the optimal approach.

Remember that there are many factors to consider when taking the steps to ensure your business. What if a product is lost or damaged? What if your product causes harm to a consumer? What if someone gets hurt on the job? Do you have a company car?

Owning a business comes with a lot of risks, which is why business insurance exists. You can opt for a variety of general and specific policies to give you as much coverage as you need in areas like liability, employment, and damage costs, depending on what your company does.

 

WHY IS BUSINESS INSURANCE OFFERS IMPORTANT?

As a business owner, you take risks, make investments, and employ others to work for you and help your company grow. These steps are exciting, but they can set you up for a major loss when accidents happen. It is important to protect yourself, your finances, and your employees in the event that something goes wrong.

 

 

What Type of Business Insurance Coverage Policies Are There?

Business insurance carries an array of different policies. These options deliver wide-ranging protection for the business in question. In turn, getting business insurance can help you with a variety of unexpected scenarios and unforeseen costs. This helps you manage ongoing risks and ensures ideal stability for your business.

Some of the most popular types of commercial insurance policies include the following.

General Liability Insurance

This insurance policy covers your business in cases such as third-party personal injuries, third-party property damage, libel, and slander incurred through your business operations.

Commercial Property Insurance

If your own property or equipment gets harmed during business operations, this insurance policy can help you with replacement costs. This saves you from out-of-pocket expenses in such scenarios.

Workers’ Compensation Insurance

This policy covers employees who face injuries or death during their operational duties. It may cover the medical expenses as well as lost wages for such employees or their family members.

 

Product Liability Insurance

In instances where your manufactured products cause third-party injuries, this policy can help you cover any financial claims. It offers an important safety net for businesses that deal in physical goods.

 

Professional Liability Insurance

This insurance policy can help in cases where any of your sold services end up causing undue harm. This supports you in managing risks and exposures to such claims.

Commercial Auto Insurance

If your business operates a single or multiple vehicle, this insurance can help you cover risks such as property damage and personal injury claims. As a result, it can save you from massive financial burdens.

Business Owners’ Policy (BOP)

This policy bundles multiple essential coverage options into one, which makes it easier for you to buy your required insurance policies. A BOP is generally a mix of liability and property insurance, where the details depend upon the insurance provider.

You can also choose from various additional policies that include but are not limited to commercial building insurance or home-based business insurance. These types of insurance policies address highly specific needs for particular industries and business models.

Remember that there are many insurance companies that offer policies that range from auto insurance to life insurance, liability coverage, GA commercial insurance, medical payments coverage, business owner’s policy, and much more.

But it is best to work with the right agent that understands insurance companies and obtain overall coverage that meets all your insurance needs. That is where a firm like the Tabb Insurance Agency comes into the picture in Conyers GA.

Our goal is to ensure that we are there for you whether it is auto insurance, life insurance, liability coverage, or general GA commercial insurance. So remember to work with an insurance company like the Tabb Insurance agency to obtain the GA commercial insurance, liability coverage, or general auto insurance that you need to run your business while protecting your business assets.

 

EXPLORE THE BEST COVERAGE OPTIONS FOR YOUR BUSINESS

When you purchase business insurance through our providers, you can opt for coverage in the following areas:

 

TRUCKING

 

ERRORS & OMISSIONS

covers your business for injuries caused by neglect. Especially suited for licensed professionals like accountants, attorneys, insurance agents, architects, engineers, and technology companies.

EMPLOYMENT PRACTICES LIABILITY

covers employment-related liabilities other than on-the-job injuries such as legal fees and damages for suits like wrongful termination, discrimination, sexual harassment, and other violations against employee rights.

DIRECTORS AND OFFICERS

covers directors and officers of a company for any negligent acts or omissions that result in lawsuits against the company.

Contact a Business Insurance Expert at Tabb Insurance Today

Whether you start a business all by yourself or build its foundation with external funding, it is extremely important that you protect it from unforeseen events. Otherwise, a single instance can be enough to deplete your funds or drive your operations into the ground.

By having business insurance in place, you can make your way through all of these challenges while preserving the integrity of your business. This provides you with the peace of mind that you need as a business owner.

With Tabb Insurance’s business insurance in Conyers GA, you can easily fulfill all of these goals. Our comprehensive commercial insurance policies not only protect your interests but also help you file your claims through a straightforward process. This provides you with the financial support you require exactly when you need it the most.

To see how our business insurance solutions can help your venture, don’t hesitate to contact us for a free quote today. We will be glad to understand your needs and guide you towards a policy that caters to all of your needs.

Ready to protect your business and take the next step with confidence? Talk to one of our agents today to get started on your policy.

Treehouses & Trampolines: What’s Insured in Your Outdoor Space

Backyard fun may come at a cost, but that doesn’t mean you should avoid splurge purchases like trampolines and treehouses altogether. Ultimately, it’s a family decision, partly based on feedback from your pediatrician on risk vs. benefit, and partly based on whether your spirit for adventure outweighs your concern for a potential accident. It’s also a decision that could impact you financially, should your children or a guest get hurt on your property.

 

Trampolines

First, know that when you own a trampoline, it’s impossible for you to file a homeowner’s insurance claim for an injury if it’s an injury sustained by someone who lives in your household. This would become a medical insurance claim instead, and if medical insurance coverage is denied, you’ll be paying out of pocket. Anyone else who is injured on your property would be covered by your homeowner’s insurance–but only if your policy covers trampolines. It’s possible that your policy will only cover injuries if your trampoline has a safety net, is built over a sand pit or wood chips, isn’t being used while wet, isn’t being used by more than one child at a time, etc. You’ll need to know the details of your coverage before you and your children begin to bounce. In some cases, homeowners insurance explicitly denies coverage to any “loss, damage, cost, claim expense, bodily injury, property damage or medical payments” related to trampolines.  This is why it’s important to consult your insurance company before any purchase of a trampoline. If it’s considered enough of a risk, your insurance company could cancel your coverage or refuse to renew, and you’ll need to decide if a change in insurance altogether is worth the trouble. Changing insurance companies would mean a new inspection on your home, so if you’ve got some lingering repairs or potential red-flags that would show up on an inspection, it may be more costly than you expect. 

 

Treehouses

About 2,800 children per year are injured playing in a treehouse, and most of those injuries fractures, cuts, and bruises that happen when a child either falls or jumps willingly from the treehouse. Similar to trampolines, you’ll have to start with a health insurance claim if someone who lives in your home experiences a fall. If it’s a guest, you’re on the hook for liability. If you want to insure your treehouse in the same way you would insure a gazebo, for example, because it’s an added asset to your home, you’ll need to contact your insurance agent and ask for coverage as an “accessory structure” and be ready to report its full value (or replacement cost). Similarly to acquiring a trampoline, however, you need to speak to your insurance agent about your policy before adding a treehouse to your yard to find out whether the addition will raise your premiums and make sure your policy doesn’t prohibit it explicitly. If not prohibited, make sure your treehouse is named specifically on your policy in order for accidents to be covered. When preparing to communicate with your insurance agent, know that being able to communicate effectively that your treehouse will be built safely will help. For example, you should select a tree that doesn’t need to be pruned, that hasn’t dried out and become fragile. The lower to the ground your plan, the better. Anything over 10 feet in the air is likely to be considered too dangerous. You also may want to research how to use an artificial limb system under the treehouse for basic support. A fence around your yard to keep out uninvited children is also in your best interest. 

In insurance speak, trampolines and treehouses are called an “attractive nuisance” because they are completely attractive to children and yet undesirable to many due to the risk of serious injury. Having either in your backyard is something that must never be hidden from an insurance company. In fact, it must be specifically disclosed, as omission of the information is just as problematic as an out-right lie. The reason is this: should you lose your home to a fire or sustain another type of damage that needs to be covered by your homeowner’s insurance, then your insurer realizes you were dishonest about an “attractive nuisance” in the backyard, the insurer has grounds for denying any claim. The insurer simply has to state that they would have denied you coverage completely had you disclosed your backyard purchase, which means any claim you are trying to file would have never been covered to begin with.

A Guide to Preventing Slips and Falls Around Your Business 

Whether you actually hurt yourself or just suffer from a bruised ego, slipping and falling is always a nasty shock. At home, you can usually just dust yourself off and forget about it, but if you own a business, slips and falls suddenly become much more serious. Maintaining a safe business property for your employees and customers becomes paramount, both to give them a great experience, and to prevent any big insurance claims from knocking at your door. 

Reduce your business’s potential for hazardous slips and falls by implementing these safety tips: 

 

Secure Stairways and Ramps 

Stay up to date with your city’s local building codes, and install the proper handrails along every stairway and ramp. Even tiny platforms comprised of 1 or 2 steps should have some kind of banister in place. This gives stability to your pedestrians and helps protect you if someone falls in those areas and decides to pursue legal action against you. Also, consider lining your stairs and ramps with a non-slip material. 

 

Maintain Walkways and Lawn Areas 

Remove obstructions from any walking paths that your employees or customers have to use. It is also important to repair uneven, broken, or bumpy surfaces in the parking lot or on the sidewalk. In the winter, make sure your sprinkler systems are turned off and drained to prevent leaks and icy patches around your establishment. 

 

Keep Safety in Mind All the Time 

Aside from covering the basics to keep your business up to code, just make it a habit to look for potential slipping/falling hazards located all-around your business.  

  • Maintain adequate lighting in all areas where pedestrians will be walking.  
  • Keep “Wet Floor” signs in areas where your employees can conveniently access them to warn people away from spills. 
  • Repair torn carpet, loose or missing floor tiles, and other flooring materials as soon as you can after they are damaged. 
  • If you live in an area with heavy snowfall, establish a snow removal plan for parking lots, sidewalks, and dumpster areas.  
  • Keep emergency phone numbers posted in areas where people can see them easily. 
  • Stay stocked up on first-aid kits and keep them in plain sight. These emergency resources help you and your staff minimize the damage of a bad fall. 

 

When an employee or a customer takes a fall at your business, the consequences have the potential to be dire. Prevent them as much as you can by keeping the area clean and maintained. People will be safer and your business will look better for your efforts! Overall, make sure you are protected by a solid insurance policy that will cover your company if someone gets hurt anyway. You can never be too secure!