Business

21
Mar

Do I Need Commercial Insurance If My Business Has No Inventory?

Should you get commercial insurance if you have no inventory?

If you own a service-based business such as a hair salon or air conditioner repair shop, then it is likely that you don’t have a lot of inventory to worry about. In fact, many business owners of service-based businesses assume that there is no reason to hold commercial insurance because they have no inventory that would need to be replaced in the event of a disaster. The truth is, commercial insurance is for every type of business.

Commercial insurance policies cover a lot more than just your inventory. They work to cover your equipment, vehicles, tools, liability, and provide protection in the event of a lawsuit. For a service-dominant business, that means a policy can protect everything you need to stay in business.

Even if your business doesn’t have much in the way of merchandise, there’s a good chance that you have valuable tools or equipment to do your job. If your business was victim to theft or natural disaster, it’s possible that you’d lose all of these things. In turn, this may mean your business would be forced to close its doors.

Commercial insurance can also include coverage for the structures and real estate that your business owns. Storage building, storefronts, and manufacturing facilities can be covered under a commercial property insurance policy.

For the right commercial 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!

21
Feb

Where Your Business Property Is and Isn’t Covered

Understand how to better protect your business’s property.  

Compared to all the other insurance policies, picking a commercial property insurance policy may seem like the easiest one. The premium is worth the peace of mind that your business’s property is protected. However, it is important to look closely at the policy you choose because you may find you have left your business vulnerable.

Your commercial insurance policy is designed to keep your building, furniture, equipment, and electronics protected. If a peril happens, such as theft or a fire, your insurance can step in to cover the costs of repairing and replacing your property. Keep in mind, however, that every policy has its limits.

Statistically, businesses are affected most often by the following claims:

  • Burglary and theft
  • Water and freezing damage
  • Wind and hail damage
  • Fire

Your business insurance typically covers the above claims. However, these are not the most costly claims. Vehicle accidents are a common and expensive claim among businesses. However, property insurance cannot cover your business’s cars. For your journey and business vehicles to be protected, you must acquire a commercial auto insurance policy. Keep in mind that your property insurance may not cover all of your business’s property.

Commercial property insurance also does not typically cover the following:

  • Commercial vehicles
  • Property damage resulting from employee error
  • Property that was not purchased for the business
  • Personal assets that may be used by the business
  • Property intentionally damaged by the business owner or employees

Talk to the team members at Abatelli Group, Inc. to find out how we can help protect your business’ property. With reliable commercial insurance, we can help your business’s livelihood. Contact us today to get started.

18
Oct

Tips to Set Up an Emergency Plan for Small Businesses

How to develop your emergency action plan.

You’ve worked hard to establish your business, spending countless hours building it from the ground up. Unfortunately, all of that hard work can be destroyed in sheer seconds if a natural disaster or other emergency happens. No business is completely immune to crisis events, medical emergencies, or disasters. Even if you have excellent preventative measures in place, unforeseen events can threaten the livelihood of your small business. To help protect your business better, establish an emergency plan.

Assess hazards.

Start your disaster plan by noting down potential risks your business faces. Possible emergencies include fire, explosions, severe weather, medical emergencies, acts of terrorism, and power outages. Depending on your business’s location, you may have additional risks to think about, such as earthquakes and floods.

Develop procedures.

Once you’ve identified potential risks, your next step is to establish emergency responses to each scenario. Most emergencies require either evacuation or shelter-in procedures, so be sure to consider both possibilities for the different disasters. Create a policy that will specify evacuation routes, an outdoor assembly meeting point, how to assist employees with medical conditions in an emergency, and more. Don’t forget to assign the responsibility of communication to employees, vendors, clients, and guest in case of an emergency.

Include Continuity

If your business is forced to close its doors temporarily after a disaster, how will your company cope? Be sure you know how you can keep operating when the office is closed. Do employees have their own computers? How will you communicate this information to them? How far in advance can you let them know? Discuss continuity plans with your vendors, too, to ensure they have procedures for post-disaster events.

Forward-thinking can help your business recover quickly after a disaster. For all of your business interruption insurance and commercial insurance policies, 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!

4
Oct

How to Keep Your Data Safe for National Cyber Security Awareness Month

Tips to protect your business’s data.

We’re in a tech age, and that means hackers are finding inventive ways to get a hold of and abuse business data. From vendor details, bank account information, employees’ Social Security Numbers, login details, and more, businesses of all sizes are goldmines for hackers. Since October is Cyber Security Awareness Month, we’ve rounded up some tips on what your business can do to keep data safe.

Back Up

Always back up your business data on a secure server. If possible back up to the cloud – and ensure that your login details are safe. Businesses should regularly back up data in case of a disaster, from fire, natural disasters, and cybersecurity breaches.

Limit Access

How many of your employees can access the sensitive information? You may find that it’s surprisingly easy once they are on the system. To safeguard your data, limit who can access the information, restricting it to only the essential team members.

Update Software

Anti-malware and anti-virus software helps to detect threats – so make sure they’re installed and kept up to date!

Secure Cyber Liability Insurance

Cyber liability insurance is designed to help your business if it does fall victim to a security breach. From recovering data to keep your business’s reputation in check, this coverage is valuable to have.

Talk to the team members at Abatelli Group, Inc. to find out how we can help protect your company data. With reliable cyber liability insurance, we can help your business if it ever falls victim to cyber security breaches. Contact us today to get started.

20
Sep

Your Employee Got Hurt at Work. Now What?

How employers should respond to workplace injuries.

Whether you work on a construction site or in an office, there’s one thing that all business owners need to prepare for: a work-related illness or injury. Employees are only human and accidents happen. While you may do everything to prevent workplace injuries, sometimes they cannot be avoided.

Business owners should know how to handle an injury or illness sustained while on the job. Check out these steps to guide you through the process.

Seek medical assistance. The first thing you need to do after an injury is to get medical care for the injured worker. If it’s life-threatening or after-hours, bring them to the emergency room or call an ambulance. Do this immediately, as you may face legal backlash if the injury goes untreated. If the injury or illness is not severe, you should send him or her to the agreed upon health care provider, preferably one focused in occupational medicine.

Record the scene. Once the employee is under the medical care of professionals, return to the scene and try to preserve it for investigative purposes. Take pictures of the scene and gather information about it. Record eyewitness information and as many details about the accident as possible. This will help you to file the insurance claim.

Transition them back to work. The return-to-work program is going to be different for every injury, but the employers’ support is what makes all the difference. Set up a program that helps the employee return to their role at work. There may be some help needed, such as accommodation, time off work, reduced workload, or modified job responsibilities.

Ensuring that your business has proper coverage before the accident occurs is critical to making the injury care process run smoothly. This means complying with New York’s workers’ compensation laws and having a plan in place with an injury care provider. Not sure where to start? Talk to the team at Abatelli Group, Inc. where our team will help you find reliable coverage.

19
Jul

Data Breach Prevention Tips

Top ways to prevent security breaches.

Businesses maintain incredible amounts of confidential, sensitive, and private information about their consumers, clients, and employees. Because of this, they are often targeted by online thieves who are looking to make the most out of valuable information. Cyber attacks on the rise, making it all the more important to increase your business’s cybersecurity. Check out these tips to get started.

Limit the type of personal information that is collected. Whenever possible, a company should try to limit the type of personal information collected to a minimum, while adhering to the law and accomplishing business objectives. Quite simply, the less information you store, the less you have to protect.

Limit access to personal information. Ensure that such personal information cannot be obtained from any and every computer in the workplace. Be sure that when employees leave the company, the passwords on computer systems change. Restrict access to personal information to qualified personnel.

Store personal information on secure computerized systems. Enable firewalls and other high-security settings on network and wireless systems to prevent unauthorized access by employees or third parties. Use encryption technologies to protect data systems.

Train employees on compliance measures. All employees should be trained in the company’s security and privacy policies. A company’s security and privacy policies should also be enforceable by contract on any third-party vendor that manages personal information on behalf of the company.

Secure cyber liability insurance. Cyber liability insurance is designed to address cyber risks. It typically provides protection for costs associated with data breaches and extortion events. The right insurance program also provides access to skilled professionals to manage the event from start until finish.

Are you ready to get started on your business’ cyber liability coverage? For the business insurance your company needs, contact Abatelli Group, Inc. today!

26
Apr

How to Eliminate Uncertainty for Small Businesses

Reducing uncertainty to solidify your small business.

Every small business owner knows that they will encounter a certain amount of uncertainty. Whether it’s in finances, customer relations, or product production, there can be many uncertainties that small businesses face on a daily basis. While you can’t know the future, you can be adequately prepared. Not only will this provide you with peace of mind, but you’re more likely to respond quickly and efficiently when trouble strikes.

Stay in the now

It’s easy to get caught up in your own world when at work, especially if you have a busy schedule and a routine. One of the best ways to combat financial uncertainty is to stay on top of economic indicators. By educating yourself on the general state of the economy and how economic trends might affect your industry, you can put yourself a step ahead of others.

Prepare for numerous outcomes

It’s wise to stop assuming the most likely outcome will turn up at the conclusion of every situation. A successful company prepares for various outcomes regardless of what’s expected. Be sure to include all departments and employees in this planning process. You’ll get fresh and unique perspectives that are likely to result in critical and innovative thinking.

Review often

A forward-thinking company remembers to reflect. Whether it’s critiquing how well your marketing strategy worked or expanding commercial insurance often to ensure your business has adequate protection, make time to review your company.

For the business insurance your company needs, contact Abatelli Group, Inc. today!

12
Apr

Steps to Help Simplify a Home Insurance Claim

Home insurance claims advice.  

You only find out just how good your home insurance is when you make a claim. That’s when you really find out just how good your insurer is. What you want is an insurer who will handle your claim swiftly and efficiently, and actively look to help you, rather than trying to wiggle out of paying what you are due. But you also have to play your part – by filing your claim correctly. Check out these tips to help you file a claim.

Report any crime to the police. If you are the victim of theft or your home has been vandalized, report it to the police. Get a police report and the names of all law enforcement officers that you speak with as you may need to provide the details of the event to your insurer.

Call your insurance professional. Alert your insurance company to the disaster as soon as possible. Ask if you’re covered, how long you have to file the claim, and if the claim will exceed your deductible. If your loss is lower than your deductible, you probably won’t want to go through the claims filing process.

Have the insurance adjuster inspect the damage. Your insurance company will likely arrange for an adjuster to come and inspect the home. He or she will be able to determine how much the insurance company should pay for the loss by inspecting the damage.

Make temporary repairs. Photograph or videotape the damage and then take reasonable steps to prevent future damage. If possible, avoid throwing out damaged items until the adjuster has visited your home. Save receipts for what you spend as you may be able to submit them to your insurance company for reimbursement.

Prepare a list of damaged articles. Supply the adjuster with a list of damaged or destroyed items, saving a copy for yourself. Having a home inventory will speed this part of the claims process.

Don’t hesitate to ask questions. Always ask your insurer questions if you are unsure!

One of the most important parts of protecting your home is securing a homeowners insurance policy from a professional agency that can help you in the claims process. Contact Abatelli Group, Inc., serving Whitestone and neighboring cities in New York with the right and reliable coverage.Top of FormBottom of Form

22
Mar

Small Business Insurance Tips You Can’t Afford to Miss

Insurance tips for protecting your small business.

When you run a business, you’re exposed to many more risks than you are when working for someone else. You have more responsibilities and assets to protect. Even so, there are plenty of reasons why to run your own business. Driven by an entrepreneurial spirit and a desire to bring to market a unique idea or to offer a specific skill, there are 28 million small businesses in the US, accounting for 54 percent of all sales.

With so much at stake, insuring your investment, yourself, employees and property the right way is one of the most important decisions every owner must make. From commercial auto and property to workers’ comp, there are a lot of considerations. So, where to start?

Know the rules. Check with your state’s Department of Insurance about which coverage is required of small businesses. You’ll need to ensure you keep up to date with new policies and rules to protect your business, too.

Imagine the unimaginable. No one wants to think of their small business in ruin or financial strain. However, this step does help to protect your business in the long run. Once you know your risks and how your business would manage in an emergency, you can work on improving these two aspects. Consider fires, slips and falls, loss of income, defective products, injured employees, and equipment breakdowns. Look at each step of your business, imagine the worst, and then protect against it.

Talk to a reliable insurer. If you don’t know what coverage your business needs, it can be easy to hand it off to an insurance agent and hope for the best. However, you don’t want to be paying for coverage that you need or have limits that are far below what your business demands. Talking to a reliable and professional insurer will help to determine not only the right policies for your business but the limits and deductibles, too.

A small investment business insurance for your small business can pay huge dividends if an accident happens. For the business insurance your company needs, contact Abatelli Group, Inc. today!

21
Dec

Is Your Business Ready for a Winter Storm?

Take action to prepare for disasters this season.

In many areas, winter storms are a scary reality for small businesses. Most business owners won’t be singing “Let it snow, let it snow, let it snow,” but hoping that severe weather stays well away from their business. Rightly so, since the threat of windstorms, blizzards, and ice storms can be a terrifying situation for all small businesses.

Preparing for a storm can save your business money by helping prevent structural damage, loss of revenue from unnecessary closures during repairs, and costly liability suits from preventable accidents. To make sure your small business is ready to take on the worst winter storms, read on.

Prepare your office building. Extreme weather storms can cause structural damage to your building. Typically, frozen pipes are the culprit, which then burst and water seeps indoors. Check your building carefully for drafts, leaks, and cracks, especially around the windows and doors. If possible, drain all exterior pipes so that the remaining liquid doesn’t freeze and break the pipes. Additionally, add insulation to exposed pipes to help prevent the chill.

Establish and practice safety drills. The Federal Emergency Management Agency (FEMA) recommends running emergency drills before the bad weather hits. From evacuation routes, communications with employees, and running a business without phones, be sure that you know how to handle each situation.

Secure a generator. Keeping a reliable power source on hand is a safety precaution and a wise business move. If the power goes out, your business can rely on the generator to keep your business running – and turn a profit.

Keep everyone informed. Pay close attention to storm warnings, alerts, and updates. Have a plan to keep employees informed of office closures and further information. Now is the time to update and review your emergency plan, too.

Prepare for the worst. The fallout from winter storms can last for days and weeks. Because most small businesses can’t afford to be idle for that long, a business continuity plan is key. Ensure that this spells out how long you can keep your business afloat in the event of a disaster, how to communicate with vendors and clients, and how to set up temporary offices. You’ll also want to ensure that you know how to file insurance claims if your business has been badly hit.

A small investment in winter storm preparation for your small business can pay huge dividends when a blizzard hits. For the business insurance your company needs, contact Abatelli Group, Inc. today!