Small Business and Insurance

February 28, 2010

For many years I had the pleasure of working at Barstons Child’s Play. During my time at the store I worked as an assistant manager and buyer. I was a full-time employee and individual employee health insurance was covered. When my husband and I looked at the rates to pay for my husband and two children on the policy, we knew we could not afford it. We could barely manage rent, student loans and food on our combined salaries. We paid out of pocket for medical care for many years for both my husband and two sons. When Fred was hired at American University, as part of a large insurance pool we could finally afford FAMILY insurance.

Part of my dismay at the way insurance is handled in the US is the fact that small business is asked to shoulder such a heavy burden. There is no way Read the rest of this entry »

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Small Biz Insurance Policy

February 27, 2010

The business owner’s policy (BOP) is a simple package insurance policy designed for small business. Insurers usually limit the use of this policy form to retailers, office occupancies, and other low hazard enterprises.

The policy includes both business property and general liability coverage. It can cover commercial buildings or be used for companies that rent their location.

On the property side, the policies usually include special perils coverage and replacement cost evaluation. A variety of deductible options are available. Simple business interruption coverage offering both loss of income and extra expense coverage is usually a part of the coverage.

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Business Insurance Policy Renewals

February 27, 2010

There are only four choices when you are anticipating the renewal of your insurance.  Each approach, from the insurance buyer’s perspective, has advantages and disadvantages:

Renew-As-Is – Renew with the current agent who renews with current insurer

  • Easy – agent has info he needs
  • No competitive pressures to push better coverage or price
  • Nobody checks the agent’s work
  • Little recourse if premium increases

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How to Succeed in Business

February 27, 2010

Every one has their own definition of success. My definition of success is to be happy while working at something I believe in and am passionate about. Here are six steps I use to achieve my definition of success.

Freedom – If you don’t live in a country with freedom to pursue a living as you see fit, success would be difficult by my standards. I am thankful to live in a country that provides me the freedom to choose my living. Many people do not have the freedom to seek out their own business, so it seems that one must first become free to succeed in business.

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Good Business Travel Insurance

February 27, 2010

There are times when you need to go out of town and to another country for business reasons. This often happens if you’re an executive or a high ranking official of an organization or company. If you’re one of those ‘important’ office personnel, you should make sure that you don’t travel without business travel insurance.

Now, why is that? Well, suppose you urgently need medical assistance abroad. Your employer is not present and the medical bills will be shouldered by you alone. What if you don’t have enough money to pay the medical bills? But if you have business travel insurance, you don’t have to worry about a thing.

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Make Your Health Insurance Plan Work for You

February 27, 2010

No matter how avidly you take care of your health, there are unexpected circumstances that can land you a day or two in the hospital. If you are not prepared and you do not have enough health insurance coverage, this can cut a great deal with your savings. Thus, it is very important that you choose the best health insurance plan that can help you in case of an emergency.

First, check out all the health insurance options that you have. Consider your family’s health needs as well when signing-up for an insurance plan. There are two types of health insurance plan that you can sign-up for: private and government health insurance options. The private health insurance is personally signed-up for by an individual. You will also have a health insurance plan when you are employed. The company will provide you with coverage as part of your employee benefits.

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