March 2020

19
Mar

Homeowners Insurance and Your Home-Based Business

How to protect your home-based business.

 

Do you work full-time from home? Perhaps you operate a side business out of your home? If so, be aware that your homeowners insurance policy may not cover several aspects of your home-based business. In order to safeguard your hard work, you may need to take out additional coverage. Without it, you leave your business exposed to damages to property, data losses, lawsuits, and unforeseen potential damages.

 

What homeowners insurance won’t cover

It’s a good idea to review your homeowners insurance to see exactly what it does and does not cover. If you run a business out of your home, which insurers qualify based on regular foot traffic directly from your business and inventory being stored at the property, then you may need to look outside home insurance and obtain commercial insurance.

 

Generally, home insurance won’t cover your business’s equipment or operations. That means if there’s a fire in the property or a client visiting you gets injured, you will be on the hook for paying related expenses and damages.

 

Additional coverage

There are a few ways to protect your business property:

  • Home insurance endorsement: An endorsement can be added to your home coverage to increase coverage for business-related equipment and assets. You may also be able to pick up a liability endorsement in case someone is injured on your property.
  • Business owners policy: Generally referred to as a BOP, a business owners policy provides coverage for small to mid-sized businesses. BOPs offer business owners broad coverage, including general liability protection and property insurance in a single policy.
  • Separate business insurance coverage: You can select a separate insurance policy depending on the kind of coverage you want to have. For example, you might purchase business income insurance (also known as business interruption insurance). You can also purchase general liability insurance to protect your business from third-party lawsuits.

 

Still have questions about insuring your home office? Contact our expert team at Abatelli Group, Inc. today. We serve Whitestone, Flushing, Bayside, Little Neck, and surrounding cities of New York with reliable coverage!

5
Mar

International Women’s Day 2020: Tips for Starting a Business as a Woman

Celebrating International Women’s Day as an entrepreneur!

 

Did you know that Sunday, March 8th, 2020 is International Women’s Day? It’s a day to celebrate the women of your life, from your mother to sisters to spouse to daughters and co-workers. It’s also a day take stock of what you’ve achieved as a woman. If you’re a women considering starting your own business but struggling to get your idea off the ground, you’re not alone. It’s no secret that women are rising to the top in business, but can struggle simply because of their gender. To help, we’ve rounded up some essential tips to consider when starting a business as a woman.

 

Fit your business into your life

Running a business involves long hours of work and this can be more complicated for women than men. If you do the bulk of the domestic care work, whether that’s caring for your children or looking after an elderly parent, you may need to ask for help while getting your business off the ground. Make sure that you know how you can fit your business into your lifestyle so you don’t burn out.

 

Find support and network from there

One of the challenges faced by women in business is that they’re generally excluded from the boys’ club of powerful, established players. This isn’t always deliberate but it can happen. If possible, network with people in your local community and attend women in business workshops. It pays to be around like-minded, influential people as there are always ways of helping each other.

 

Get marketing

Launching a business can be tough whether you’re a male or female. However, many females can use social media and marketing as their strength – Reach out other women when you need help, hone in on your communication skills, and don’t be afraid to mark your business with a ‘woman-owned and operated’ stamp!

 

Women can not only succeed in business, but they can thrive. For the right commercial property insurance policy, contact our expert team at Abatelli Group, Inc. today. We serve Whitestone, Flushing, Bayside, Little Neck, and surrounding cities of New York with reliable coverage!

 

COVID-19 Update

Our office remains open and our staff is working remotely to continue to service our clients. You can reach us at (718) 352-6000 Letter to Policyholders