Do You Have The Right Insurance For Your Business Needs

Depending on your business needs, liability insurance can be purchased in many forms.

General Liability Insurance offers protection from third party claims in the case of a business being sued for something they may or may not have done. Injury claims, property damages, or advertising claims.

The liability coverage limits are set for what a business needs are by how much risk is involved.

When considering liability insurance for your business, first examine what type of business it is.

A manufacture that has a higher injury risk, because of say heavy machinery should purchase a policy with higher coverage. A smaller business with less risk or may want to go with a smaller policy.

Doctors require coverage to practice in certain states. Technology consultants often need coverage in independent contractor work arrangements. Depending on your profession, it may be a legal requirement to carry such a policy.

Employer liability is also known as worker’s comp, and it is a mandatory form of liability insurance coverage that all businesses must carry. While it sounds like it is intended to protect the employee, which it does to some degree, it is actually protection for the employer in case of injury, job related illness, or other damages for which the employee might sue the company.

Auto Liability insurance is one of the most popular options because it costs less than other coverage such as Full Coverage.

In the case of an accident, liability covers the other party’s losses, and protects you from being responsible. While this may save you from a law suit, it still leaves leaves you and your property vulnerable and you may have to pay out of pocket for your damages.

Full Coverage Insurance will pay for both your vehicle and the other vehicle involved in an accident as well, property damage and medical expenses for both parties. When you purchase a vehicle from a dealership and are making payments, it is required you have full coverage. This makes sense, because the company you purchased the vehicle from and you are covered and that is what insurance is all about, protection.

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The Right Insurance Coverage for Restaurants Why It Is So Important

There is a lot that goes on behind the scenes you do not see from your table in a restaurant, from preparation to serving of the food. If you are a restaurant owner you know it’s hard work and strong dedication to keep you restaurant going. Mishaps can happen from the kitchen to the dining room, so make sure your dreams and hard work for your restaurant are completely covered with liability insurance.

From the type of food you serve to how it is kept is vital. A daily check for freshness and standing by the health codes should assure you a well run kitchen.  The wonderful dishes you serve are going to be eaten by trusting customers and employees alike, and if for any reason a break out of food poisoning should happen you will have to answer for the consequences.

There is a risk of injury for employees when working with knives, hot ovens, stoves, fryers and the such. As an owner you must be able to cover any expenses if this occurs. Some accidents maybe smaller then others, but the fact is you are responsible, and this is where liability insurance comes in for you.

Consider liability insurance as a silent partner if need be. Without it a restaurant could be out of business in a very short time if anything should happen from injury to employees or customers. Liability insurance means claims would be investigated and sorted out for fraud and also find out if a restaurant is not at fault. If for example that your restaurant was not at fault or it was a fraudulent claim being made against you, then having liability insurance could insure a counter suit for your restaurant. If for some reason a restaurant is found at fault, there would be coverage for the legal cost and help with the cost of the claim.

Don’t put off checking into liability insurance or updating your coverage. It could be the difference of being open one day and closed the next.

Have questions? Contact us today at 863-456-3903.

 

 

 

 

Photo Courtesy of Neshom at Pixabay.com


What You Need To Know About Small Business Insurance

ID-100362858Small business owners often do all they can to cut costs while providing the best service possible for their customers. If someone perceives that your business is at fault for an injury or damage of some kind, you may find yourself involved in a lawsuit. Your time and money go into your business, it simple – protect your investment.

Types Of Businesses

A high number of the businesses in United States are run as partnerships or sole proprietorship. For almost all of these small businesses, these kinds of ownership may put the business and individual at a risk. Having the correct type of Business Insurance can protect your business and you from financial disaster.

It’s often mistaken that a limited liability company (LLC) or an incorporated company is a business owner who is protected from personal liability and Business Insurance is not necessary.

You can be personally liable if:

  • you have signed a personal guarantee for a loan
  • personally you have injured someone
  • you have acted in an irresponsible or illegal manner
  • you do not operate your business as a separate entity

What Business Insurance Covers

Business Insurance is known as General Liability Business Insurance. Business coverage includes personal injury where a person is hurt due to the negligence of our business, due to an item your business has sold or by one of your employees. Property Damage includes claims from customers as well as damage to your own property due to a storm, break in, etc. Lawsuits are also covered and include advertising claims and slander on your business’ behalf. Covering your employees for injuries while on the job and death are also included.

Home Business

Your home business is not covered under your homeowners policy. Don’t make this mistake! Consider purchasing Business Insurance.

Amount of Coverage

When you purchase your General Liability Business Insurance you must consider the risks of your business and the amount that your state caps on lawsuits against small businesses. If you remodel homes your business is at a higher risk of lawsuits, property damage and injuries than if you make and sell crafts. Your business risks will determine the amount of coverage you need to purchase as well as Florida’s caps on your type of business. Budget Bi Rite can assist you with these types of decisions.

What To Do If Facing A Claim

If you have been sued, if a worker has been injured, if your property has been damaged, contact your Business Insurance company immediately. Save all of the information you receive, take photos, get witness contact information, and follow through with your insurance company. Be sure to document everything. This can be a worrisome time, but knowing that you have Business Insurance will make this go a lot smoother.

Have Questions?Call us today to get your questions answered. 863-453-3903 or visit our website budgetbirite.com

 

Photo Courtesy of nenetus. at FreeDigitalPhotos.net


How To Turn Your Idea’s Into A Home Based Business

ID-100288572Whether you love baking cakes or love fashion and crafts, your ideas can be turned into a business if you know how to get started.

Today there are more and more home business popping up and the Internet is lending opportunity for this with such places as eBay, Etsy and others where you can set up shop right in your own home and sell on line.

Keys to your start up will make or break your business. Here are a few tips to get you started.

Map It Out

Put your business plan together by going over a few things from the start.

How will you store your product to make sure it maintains its originality and can not be damaged. Perhaps you have a spare room, that you can set up just for your items and keep that room available for packing and shipping as well.

If you are making crafts, etc… how much can you realistically produce in what span of time. The downfall for sales for many companies is the customer wanting your product and instead seeing the dreaded words “Back Order”. Now with on line shopping, going to another store is just a click away and you have the potential to lose a customer.

What is the Competition Up To

Get on line or open your local newspaper and search your type of product to see if there is a market. Are there other businesses in your area selling the same or similar product? See what other items are selling for, who is buying and what area’s of the world would your product fit into. Do people in Alaska really need air conditioners?

To Market We Go!

Ever since pen went to paper, I bet there was some sort of advertising going on. Before the Internet it could have been, flyer’s, newspaper ads, radio, tv or someone with a sandwich billboard standing in front of a restaurant, some of these which could be quite costly. With the Internet you can now advertise virtually for free. Social Media has opened doors for many to advertise if done correctly on Facebook, Twitter and one of the things highly recommended a Blog or website.

With Social Media, you no longer have the in your face type of selling rule, but instead you let people get to know you and your business. Offer information about your product by blogging about how beneficial or what makes your crafty designs so unique. Offer tips that surround your products, for example if you sell shoes, talk about where they come from, what makes them different or why they will make you feel like you have been walking on clouds all day when wearing them.

Everyone Loves A Bargain

You want to get your product out there and the best way to do this is offer an incentive. Coupons are used and popular with grocery stores and the companies offering these products use this marketing effectively. A new product is coming out in your local grocery store whether it be a new ice cream, or rice, you can bet there will be some sort of coupon to get the word out about this product and entice people to try it. Think about what you could offer a first time buyer to make them a customer that will keep coming back.

Customer Satisfaction

Don’t you just hate when you call a company and get yet another voice mail saying I have stepped away from my desk? These days unless you are really exclusive with your product or services, chances are the word “Next” will be going through your potential customers mind. Making yourself available or having someone answering the phone or email makes a world of difference. On your website or blog even the words “we respond to emails within 24 hours” is helpful.

What is your Return Policy

One of the reasons I love to shop at a certain retail store is that I can return the item I bought with no questions. Yes, I buy clothes sometimes without trying them on. In a hurry or just think that lovely top was going to fit or look good on me, turns out, well, not fitting right or me saying out loud, what was I thinking! I will continue to spend my money at there establishment and actually, when I go to return that top or other item that just did not work for me, I usually turn around with my money and find something else. Money given back and spent in the same place is a good thing.

Cover Your Hard Work

While you are considering or already have an on line or home based business, you may wonder if it’s worth it to purchase Business Insurance. This can be a difficult decision to make on your own.

Photo courtesy of punsayaporn  at FreeDigitalPhotos.net


So You Want To Start a Food Truck Business

Just like The Great Food Truck Race on the Food Network, food trucks have come a long way since the days serving pizza, chicken, hot dogs and ice cream from food carts and the demand for cheaper food and on the go has risen immensely since the decline of the economy.

Today home cooks and restaurants have taken to the road and are sharing there wares from Deserts to Steak taco’s, vegetarian and vegan and  you can find homemade recipes that will want you coming back for more. Put Twitter in the mix and food trucks together and you can have followers everyday.

First Impressions

Consider your food truck your restaurant. How do you want the outside to look, what will your logo/brand be. If you have seen the Great Food Truck Race, you will see that there trucks are attention getting with just the artwork done on the truck to begin with and I am sure that did not come cheap. Shop around and get quotes. Your first impression is the truck itself pulling up to any location.

What are you serving? Are you a breakfast truck? Lunch? Desserts only? Do whatever you are good at, or the recipes from your Nana that are so wonderful you want to share them with the world. Go with what you know, what has received good reviews from others. Practice your recipes and demand family and friends be your worst critics.You do not want to hear, yes that is delicious when its not. Better to have family and friends be honest with you before you put out a recipe, then letting your customers tell you by not coming back. Also consider  your time to get the product out. A majority of customers coming to your truck want fast service, which means you need to have fresh food fast and tasty. Another thing to consider is  what you are serving your food in. You want a container that will hold the food well for your customers who may be eating and on the go.

Your time and investment matters.

Food trucks can cost as much as a small house to cheaper versions, it all depends on how much you can invest. A food cart at say $3000.00 to food truck at $50,000 is a big difference. How much do you have for start up? You will also need to calculate, prep time for recipes, shopping for food, time spent out in the field making sales and travel time to and from your destinations.

Bring in the Customers
Twitter is a food truck owners friend. Post where you are going to be and what time, specials for that day on a Twitter account you have opened just for your Food Truck business. Gather in your local people to follow you and tell their friends. Social Marketing is a must for any business and word of mouth is priceless.

You Are a Business

Yes you are a business and the health department and your local code enforcement will let you know that. You will need to have a health inspection and obtain permits to keep yourself in business. You may want to contact your local health department and ask what the health codes are to make sure your inspection is a good one every time and your local county office about what is required permits.

Must be Insured

Key word here is not only business, its Food Truck. You will be mobile and on the road, which means you will need to be insured. General Liability and Commercial Auto. Contact our office so we can help you find the best quotes and what is needed for your great food truck.

Just like a restaurant, good service and good food are key ingredients to being successful. That means you need a plan and to follow that plan. Set up your menu, calculate your cost of food, truck expenses and advertising and be sure to add in your insurance cost before before you leave the driveway.

Have Questions? Call us today to get answers. 863-453-3903

or visit our website budgetbirite.com fill out the form and we will have an agent contact you within 24 hours.

We find insurance that meets every budget!

Ask us about deductibles as low as $100.00.

Ashley Bishop Owner/Agent
Budget Bi Rite Insurance, Inc

Serving all of Florida