Does Your Business Have the Right Insurance

Does Your Business Have the Right Insurance?

Every business, no matter the size needs to be protected against claims and lawsuits arising out of unforeseen eventualities. Unfortunately, this need is often overlooked by many small business owners particularly when they are starting. They concentrate more on the visible side of the business like how and where to set up a shop and evaluating their market strategies while ignoring the soft but crucial aspect that is business insurance.

Coupled with this, many people including small business owners still view business insurance as an expensive luxury. An unnecessary cost that they need to avoid. The fact is that the cost notwithstanding, an elaborate business insurance plan should be made a part of the budget.

Benefits of Insurance to a Small Business.

The benefits of taking an insurance cover for a small business are many. The following are some of them.

Liability and Damages

Insurance insulates a business against liabilities arising from injuries, accidents, product damages happening while in or out the business premises or during normal business operations.

Theft

Thieves most of the time target new business. Small businesses are at higher risks of being broken into by thieves as they have portable but valuable items. Insurance covers the business from bad loss due to theft.

Illness and Injuries

Insurance protects the business from suffering big losses paying medical bills for sick or injured staff members.

Lawsuits

While in operation, sometimes the company cannot avoid being sued for whatever reason. Lawsuits can be very expensive to the extent of draining the business of its valuable resources. Insurance can play a crucial role in reducing the cost of litigation.

Types of Insurance for a Small Business

There are various insurance policy types for small businesses. It is important for a small business owner to get the services of a qualified and competent person to conduct a risk evaluation for the organisation and advise on the best insurance covers to take.

Worker’s Compensation Insurance

This covers the employees who get injured while working for the business by providing them with medical benefits and wage compensation. This way, the injured employee loses the right to sue the business for the same unfortunate occurrence.

General Liability Insurance

This policy covers any physical damages and injuries to a third party or their property. It also protects the business from claims of libel.

Professional Liability Cover

This policy insulates the business from damages when it is claimed that it has not rendered its services professionally. This insurance is ideal for those business entities providing professional services like doctors, consultants, accountants e.t.c. It is also known as Errors and Ommissions Insurance.

Automobile Insurance

This covers all motor vehicles belonging to the business against both physical vehicular damage and human injury arising from an accident.

Business Owner’s Policy

This is ideal for those small businesses that own their own valuable property like buildings and equipment. It provides cover against damage to such property.

Tips For Hiring Professional Land Surveyors

Tips For Hiring Professional Land Surveyors

Property owners normally make their decisions based on a single factor: the price. This makes them not to consider other significant factors, leading to dissatisfaction with their choice, which is often an inadequate land survey. The land is an important asset. It’s just too valuable not to hire some professional land surveyor to assess it among other things. The following tips will help you hire the right land surveyor to evaluate your land for quality and value.

Is He Licenced?

Professional land surveyors should be licensed by the state they provide their services. When the person is not qualified to survey in your locality, then you are wasting your time and money, and the person is breaking the law. You should contact your province’s licensing board to check if the land surveyor is fully licensed.

Professional Liability Insurance

The insurance is going to protect you when an error is made by the land surveyor.

Workers Compensation Insurance

When your province requires this kind of insurance, make sure the one you hire has it and it is in compliance with the law.

Consider Experience

You should consider hiring only someone who’s experienced to survey your land. When a professional land surveyor is required for construction layout and the individual you want to hire is majorly experienced in boundary dispute, take someone else experienced in construction layout. Know how long he has been in this trade.

Professional Demeanor

It’s quite easier and more exciting working with someone who’s professional. You note their appearance, for instance-how they interact with you and whether he is organised and neat. This indicates the level of respect they have for their work and clients.

Written Contract

This should be provided showing the services to be offered and the amount you are going to be charged for the work. Insist on this so that when a dispute arises, you know where to start.

Modern Equipment

The industry has access to latest techniques and technological advancements. Hire a land surveyor who’s ready to invest in latest technologies when they already haven’t to save you costs and provide you quality work.

To walk the land with you

Is the person willing to take a walk of the property with you? It’s significant that the land surveyor does this to point out the markers and monuments marking your property corner.

Normally when you are hiring someone, you want the value for your money back. In case of land surveyor, so many things are at risk, the major one being that land is an important asset that you cannot afford to go wrong with. Therefore, when you follow the above tips, you may end up with the right professional land surveyor to assess your property.