Insurance Tips and Resources » Business Insurance

Insurances for High Risk Houses in Birmingham

Alissa Ben — Mon, 10 Oct 2011 13:33:36 +0000

An internal note of one of the major Birmingham insurance companies teaches its agents to avoid selling policies in the floodable areas of the city, saying that those zones are dangerous, and it is not worth it for the company to sign contracts with homeowners in this area. On the other hand, the insurance is mandatory, and people that are caught without it will be fined. This is why, if you want to browse for good home insurance broker, you might have some problems.

On the other hand, considering the huge deserted areas of the state where the authorities don’t have such a good control, people built their homes in areas with an increased risk of floods and disasters. It is understandable that the insurance companies are not willing to sign contracts with those people. The risks are high, and a disaster will happen in those areas eventually. However, while people living there are not able to find a good insurance broker, the authorities sustain that those homes must be insured at least with the mandatory policy. The legislation is unclear, and while the citizens are fined because of the lack of insurance, they are not able to find a good solution of this kind.

The situation is different with the Birmingham cities. The houses there are not threatened by the disasters, but thieves are a problem here. You should consider this aspect while searching for the online Birmingham condo insurance broker.

The law has no exceptions stated. Every home must be insured, whether we are talking about as safe condo in Birmingham, or an isolated home in a swampy area. The rules will be enforced soon and everybody would have to comply.

The authorities are trying to encourage the insurance companies to sign contracts with all the homeowners, even with those living in dangerous areas. In the future, the insurance companies will sign contracts with those persons also, for a smaller monthly rate, and the difference will be covered by the authorities. This way, every person from Birmingham will benefit of a cheap insurance that will protect him and his family from any possible risks.

High Risk Auto Insurance—Grab the Right Policy

Why You Need Business Insurance

Alissa Ben — Fri, 30 Sep 2011 05:51:05 +0000

Why do you need business insurance? Well, consider these stories. Sorry, none of them has a happy ending. Take them with a grain of salt of course – they’re supposed to make you understand that even the weirdest and far-fetched scenarios can create serious issues in the end.

• Mrs. Logan, an elderly woman (wife of a lawyer), is coming up the walkway to your small cosmetology salon. She slips and falls on the ice you didn’t remove because you were in a hurry to open up; she sues you for damages and medical bills.
• Your widget company is going great guns, and you congratulate yourself that you’ve got such a great accountant. He’s been saving you so much money lately, fat balances every statement. You come in one day; the accountant has fled to Buenos Aires with all your profits and you have a sheaf of convincingly forged statements to show for it.
• You decide to offer Jack Daniels in the eggnog at your employees’ Christmas party. One employee gets a DUI on the way home, another runs over a pedestrian—and you were the one who got both intoxicated.
• You lose big on your “All You Can Eat Shrimp” promotion week at your seafood restaurant, because you discover your customers can eat a LOT of free shrimp.

Now, moving on to more common issues, let us take a look at typical issues that can occur while your business is up and running. Remember, everything can happen, therefore it’s wiser to always be prepared.

• Your business burns to the ground – Fire can be a nasty enemy
• Your business is robbed clean – Certainly thievery can be one of the worst things that can happen at this point.
• Your business is flooded – For example, if you have your business in a less drained area, and in case of heavy rains your entire business becomes flooded.
• Your employees bankrupt you with emergency illnesses and absenteeism. You fire them and get sued for wrongful termination.
• You bankrupt yourself by committing the wrong type of dealings.
• Your competitors bankrupt your business; because that’s the way business works sometimes.

None of these stories are unlikely—they happen every day, to business owners just like you. And they are among the thousand-odd reasons you need business insurance.

A good, balanced and reasonable policy need not cost an arm and a leg; there are hundreds of reputable business insurers as close as your Internet. Most good business insurers will run their websites as if they were a good business, also—they will be user-friendly, easy, efficient and thorough as they ask you, via survey or live phone call, all about your business, your profit v. overhead, your capacity for growth, the risk factors of your customers, employees and suppliers.

Then, finally, here’s a good story: they tailor a policy to fit your business’s needs, at an affordable price. You stop worrying about the stories with no happy ending, because you just got a happy beginning.

The lazy insurance broker springs from inaction into panic

Alissa Ben — Tue, 21 Jun 2011 12:15:01 +0000

Many of you will note that this is not a pangram, it is a summary of what happened when a complacent business insurance broker tried, and unfortunately did, get away with not doing their job properly.

We have been trading for over ten years now and all of our business and property owners insurance customers are sourced over the net. We do not claim to be innovative, we offer a service to customers who do not want to be burdened with personal visits from, or to, their broker. We have helped many thousands of customers over the years not only save money on their annual insurance premium, but also to get better cover and a better service.

Many people want to be able to deal with everything over the phone, this is where Businessinsure come into their own. We can offer 90% of customers a one hour quote turnaround service, the remainder we either cannot help or it will take us a bit longer, maybe a whole day.

So what has prompted this heading? We were asked to quote for a piece of business and we were quoting blind. We do not simply ask what you are paying and then undercut it, that shows a huge lack of professionalism. With our knowledge and experience, we can guesstimate to within 20% what most people are paying. This is not our quote, we use this figure to effectively second guess where we need to pitch our price to get a customer to move to us.

We worked out that a customer was paying around £7-£8,000 for a policy which did not offer very wide cover. For example, commercial legal expenses and equipment breakdown were excluded. We quoted £6,200 for wider cover. Now the reason the customer came to us was because the broker, who was a personal friend, had not offered any other option than their existing insurer for over five years. They wanted to test the market to see if their premium was in the right ball park, given that they had never had a claim.

In comes Businessinsure, saving them money and time, because we turned round the quote in three hours. Now, as the broker was a personal friend, they were told that they would not be renewing. This caused the broker to actually do some work. They panicked and decided that the only way to keep the business was to knock £2k off their price. They promptly did this and to the customers loyalty credit, they stayed with them. We thought they were crazy to stick with a broker that was happy to rip them off to the tune of £166 per month, every month.

Hopefully though, some good will come out of it. The broker will realise that they cannot simply sit around without doing what they should do, which is to search the market on the customers behalf to see that they are getting a good deal. And to do this each and every year. Although the broker has been rewarded, by keeping this risk when they really should not be allowed, we are verging on feeling sanctimonious because these types of brokers are just dinosaurs. They do not know how to adapt to the modern era and think they can get away with this essentially anti-customer service routine. Hopefully, as time goes by, these traditional brokers will fall by the wayside.

When you seek business insurance renew, seek an alternative quote

Ask for Insurance Quotes before You Buy Business Insurance

Alissa Ben — Fri, 07 Aug 2009 09:03:55 +0000

If you are a business entrepreneur looking for small business insurance to protect your business from unwanted and unexpected hazards you have several options. But before you actually get your business insured just do a good research on the market.

There are hundreds of insurance companies ready to offer you insurance policies at low cost. Low monthly premiums often entice buyers to go for a policy. Low monthly premiums may not pinch your pocket but in the long run it may have negative impact on your business. You have to bear the burden of insurance premium for longer time period.

When you have decided for a business insurance go online. Most, if not all of the well-established reliable insurance companies have their own websites. Go through their sites and check out the offers they have in store for you. Shortlist the insurance provider companies according to your budget and requirment.

Next step is to ask for business insurance quotes from those short listed companies. Most of them will provide you with online forms to fill-up and submit. You can also join networks of insurance brokers who will allow you sending multiple quotes requirement and compare online. This not only saves your time and cost it helps you in making a wise decision too.

Small Business Insurance – Best Way to Protect Your Business

Alissa Ben — Fri, 24 Jul 2009 12:25:57 +0000

As we all know that business involves risks and uncertainty. It is not possible to eliminate all the risk factors. But getting your business insured can minimize the impact. While large corporate houses can survive economic recession or financial crisis it is hard for small enterprises to make up the loss.

General business property insurance can protect your commercial properties and assets from fire, natural disaster and various other mishaps. Modern business insurance policies are tailored to meet specific needs of small businesses. For instance:

• General Liability or Umbrella liability covers legal issues related to claims of negligence.
• Business Interruption Insurance covers losses occurred from natural disaster and fire damages, etc.
• Home Based Business Insurance covers business property, personal injury, loss of business data, professional liability and theft.
• Product Liability insures business commercial property and products.
• Key Person Insurance helps when a key person suddenly leaves your organization or is absent for long.
• Internet Business Insurance, meant for web-based businesses which are prone to hacking and virus attacks, covers lawsuits related to matters such as Meta tag duplicity, advertising or copyright violation, etc.
• Criminal Insurance protects your business from malicious activities like theft or intentional damages to your property.

So, the best way to protect your business from unexpected risks and hazards is to buy small business insurance and keep away all the worries.

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When you seek business insurance renew, seek an alternative quote

Alissa Ben — Mon, 08 Jun 2009 12:54:14 +0000

Image Source: txie.com

You can always consider reducing the money you spend on your annual business insurance. You must be thinking that this is fraught with risk. Well the fact try to reduce your premium without quite affecting the coverage.

Though this is a brokers job remember that most brokers search little for alternatives. So the onus is on you to find out the best insurance policy without affecting the cover.

Always seek an alternative quotation when you supposed to renew. Now that business insurance can be done through the web and telesales is in vogue, it has become very easy to get an alternative quote. By getting a variety of insurance quotes a business man stand to gain in two possible ways.

Firstly, an alternative quotation will always work towards bringing down your insurance premium. Secondly, if you cannot get a better premium than what you have at present, you can rest assured that you are paying a good premium.

It is advisable not to cut the amount of business insurance cover. Tomorrow is always uncertain. Who knows you may have to go for an insurance claim. If you reduce your cover then take it for sure that you will suffer a huge loss. In that case you will always live to regret your decision.

Ask a broker two pertinent questions. Ask them whether they ate independent with a panel of insurers? If the answer is yes then feel secured as they will be able to offer more than one insurers product. Secondly enquire whether they will offer a business insurance quote on a like for like basis? Again, if they cannot answer then you need to look for another broker.