The i’s on Insurance is part of the Business

0
77


Complete Video Transcript

0:00
the eyes on insurance not so risky business congratulations
0:06
you’re in business dream and a business plan
0:09
but what about a plan to safeguard your business from the unexpected
0:13
business concerns helps protect your business correct like
0:16
buyers your inventory important papers a thief
0:20
mixed up with your property or your business is forced to close due to
0:23
unforeseen
0:23
be only a one-quarter of all businesses do not reopen after a major disaster
0:29
the best way to protect your new business and to keep you Inc
0:32
the right type and amount of insurance business insurance covers you against
0:37
property lost interruption and my ability property coverage
0:41
safeguard your business’s inventory equipment and fixtures
0:44
against them loss games there are two basic types and business policy
0:49
named Carol which covers only the events listed in a policy own risk
0:53
which covers all except those specifically excluded
0:57
like earthquake complaining everyday your business is an open
1:00
for the day your business isn’t making money business interruption insurance
1:02
can keep things running
1:04
there are several types but the most common its business income
1:08
which covers lost revenue payroll for your employees expenses
1:12
and other while you’re preparing to reopen premiums for this type of
1:16
coverage
1:16
are based on your company’s balance sheet and other factors be aware
1:20
after a major disaster can take more time than you think to get back on track
1:24
to check your policy you can also get extra expenditure
1:28
which covers cost like temporary location while you’re waiting for damage
1:32
to be
1:32
here and your business depending on supplier’s contingent business
1:36
interruption
1:36
or supply chain coverage compensate you damage suppliers Okies
1:40
affects your ability to do business and civil authority coverage pays if you
1:44
tonight access to your business
1:45
due to damage to the surrounding area 100 every three small business owners
1:49
have been soon
1:50
were threatened with the loss even if your business did nothing wrong
1:53
general liability insurance is there to protect against this
1:57
type and amount of liability insurance me depends on the nature of your
2:01
business
2:01
beware insurance companies can’t hear a liability insurance to the specific rest
2:06
in your field for example product liability insurance pays for damages and
2:10
legal expenses
2:11
customers harm professional liability protect your business if a customer
2:15
seems you for negligence or malpractice
2:18
Employment Practices Liability covers claims for
2:21
harassment discrimination or wrongful termination accidents do happen workers
2:26
compensation insurance
2:27
piece for the medical care and employees injured in the workplace and replaces
2:31
their wages while
2:31
unable to work be aware in most employers are required by law to
2:36
purchase workers compensation insurance
2:37
while every business houdini me understanding the risk
2:40
being compared face the key to success your guest your business is what you do
2:45
best
2:46
spending time worrying about ensuring from contact your insurance broker
2:51
to discuss how getting the right insurance coverage can let you focus on
2:54
the important work
2:55
helping your business grow for more information
2:59
visit reply dot morning up