Posts Tagged ‘free business insurance quotes’

One recent overlooked area of Business Insurance is for home base businesses. Many business owners that start a business out of their home think that their Home Owners Insurance policy will cover them for Liability Insurance and Business Property Insurance. First of all a Personal Homeowners Insurance policy will almost always exclude General Liability for a business unless you specifically have an endorsement that extends liability to your home based business. Secondly Business Property coverage typically will only cover up to $1,000 of property used for the business. Usually this is not enough to cover your desk, chairs or computers especially if you are a contractor and have thousands of dollars worth of tools and equipment.

Some business owners argue that they don’t have any customers come in to the home and that they may not even see their customers face to face. This is a good argument but you need to ask yourself, what is your product or service? The reason you need to answer this question is because General Liability not only covers your business for Bodily Injury and Property Damage that you may cause, but Product and Completed Operations coverage. This refers to any products that you produce that may cause an injury to your client. If you provide a service  such as consulting or computer repair or programming then you may need a more advanced policy that covers your Professional Services, which is called Professional Liability Insurance. This will cover you for any type of mistake in your services that causes a financial loss to your client.

So the best advise I can give you is to talk to your current Home Insurance agent. If they don’t offer business insurance for a Home Based business, give me a call and maybe we can help. We can be reached at (888) 581-0331.

Bryan Cranson is the owner of Cranson Insurance Agency in Northville, MI specializing in business insurance quotes, workers compensation insurance quotes, health insurance quotes, disability insurance quotes and life insurance quotes in Oakland County, Washtenaw County, Kent County, Cook County and Wayne County, plus the entire states of Michigan, Arizona, Kansas, California, Illinois, Indiana, New Jersey, Ohio, Oklahoma and Missouri.

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Free Contractor Insurance Quote

Getting the right Contractor Insurance coverage at the right price isn’t always as straight forward as it should be. If you are a contractor that has employees it can always be tricky on how to include them on your insurance policy. Do you 1099 your employees or are they all W-2 employees? Do they work for other contractors or only you? Do you need to cover them on your Workers Compensation Insurance? These questions can always be difficult to answer and too often they go unanswered until the insurance company does an audit and discovers that you drastically underpaid your insurance premium. Now I always recommend that you include all anticipated payroll whether it’s going to be W-2 or 1099 wages. The reason this is important is because the rate you pay for your Contractor General Liability Insurance is directly related to the amount of payroll you have. This payroll includes any 1099 wages if those 1099 employees do not carry their own Liability or Workers Compensation Insurance. This is where many mistakes are made when the policy is quoted. They might go with the lowest Insurance quote they get when really the payroll used could be half of the other Contractor Insurance quotes they received. So at the end of the year the auditor find those wages and adds it to the policy resulting in a large audit bill (usually due within 30 days). So make sure you accurately communicate your anticipated payroll numbers to your agent when getting your Contractor Insurance quote.

The other line of coverage that often goes overlooked is your Contractor Tools and Equipment. Your business personal property coverage usually will only be covered when it is located at your insured premise. This will cover your tools but most likely it will not extend the coverage to the job site. The most common claim I see for contractors is their tools getting stolen from the job site! So this is important to discuss with your agent. You need to add your Tools and Equipment under a coverage called Inland Marine Coverage. This coverage will usually extend the coverage for your tools anywhere in the world. Also for larger equipment (usually over $500) you can schedule the exact piece of equipment with the year, make and model so the insurance company knows exactly what it is. For all other equipment I always recommend making a list of everything with an actual cash value next to each item and give it to your insurance agent. This will help to ensure you have the right amount of coverage for your equipment.

Getting your Contractor Insurance Quote is an important process. Please make sure you give accurate payroll estimates to your agent as well as a detailed description of everything you will be doing and also don’t forget to properly insure your tools and equipment!

Free Contractor Insurance Quote

Bryan Cranson is the owner of Cranson Insurance Agency specializing in business insurance quotes, workers compensation insurance quotes, health insurance quotes, disability insurance quotes and life insurance quotes in Oakland County, Washtenaw County, Kent County, Cook County and Wayne County, plus the entire states of Michigan, California, Illinois, Indiana, Ohio, Oklahoma, Missouri and New Jersey and New Mexico.

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Free Insurance Quotes?

Who ever charges for Insurance quotes? Why do people always advertise for Free Insurance quotes? Haven’t they always been free? If they did charge for them, what would they charge? Would they have special offers where you quote your home and auto insurance and get your life insurance quote for free? Or if you get 2 insurance quotes you get the 3rd half off? It seems ridiculous when you think of it this way. It can be compared to contractors offering you quotes to do work on your house. They put a lot of time in to come out to your house and look at the job and then submit an estimate with no guarantee to get the business. We also put a lot of time in to generate an insurance quote, especially for a business insurance quote with no guarantee to get the business.

Cranson Insurance Agency does business in Michigan, California, Indiana, Ohio, Missouri, Oklahoma, Illinois, Oakland County, Macomb County, Wayne County, Kent County, Kalamazoo County, Detroit, Novi, Northville, Warren, Royal Oak, Birmingham, Bloomfield Hills, Waterford, Ann Arbor, Grand Rapids, Kalamazoo, Los Angeles, San Diego, San Jose, San Fransisco, Oakland, LA County, Orange County, Cook County, Chicago, Indianapolis, Cincinatti, Columbus, St Louis

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