Tag: business insurance

8
Oct

How Business Insurance Can Save Your Company

Every business owner knows that they need commercial insurance. It helps protect their investment, livelihood, and hard work – but how? As a business owner, you should know how valuable coverage can save your company. Here are just a few ways.

1.Employees

If one of your employees is injured in the course of their work, your workers’ compensation insurance will step in to help. This coverage will help to pay for their medical fees, rehabilitation costs, and lost wages while they are out of work. Keep in mind that every business is at risk of employee injury, from trips and falls to musculoskeletal disorders, and more. Even if you only have one employee, you still need to take out this coverage.

2.Credibility

If you are competing for business with other similar companies, you can increase your credibility by maintaining the right levels of insurance. Many companies do not have the correct insurance policies in place to protect themselves, their employees, or customers. It is becoming more and more popular for large brands to only work with businesses that take actionable steps in protecting themselves and others in the form of insurance.

3.Liability

A common and vital coverage for every business is general liability insurance. Even if you think your business has a low risk of being involved in a liability claim, it is always better to have the coverage in case the unexpected does occur. If a guest falls on your property and injures themselves, or your employee accidentally damages someone’s property while on the job, your business could be held liable for all associated expenses. General liability insurance helps to cover these costs as well as legal defense fees if the person decides to sue. Since these issues can often extend to hundreds of thousands of dollars, your business is protected from these costs with general liability coverage.

4.Property

Whether you rent a small office or own a large warehouse, you need to protect the property your business uses. From the structure to the furniture, electronics, and inventory, your business needs all of these components to run smoothly. Property insurance helps to protect these from damage such as fire, theft, vandalism, and natural disasters. For example, if a fire tears through the building and destroys your inventory and part of the property structure, you can rely on this coverage to help repair and replace so that your business gets back on its feet as soon as possible.

Securing the right business insurance doesn’t have to be difficult. The right agents are here to help you. For the right workers’ compensation 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. We are ready to assist you with all of your insurance needs.

20
Jul

Benefits of Using an Independent Agent for Your Business Insurance Needs

Contrary to popular belief, cutting out the middleman is not always a good thing.

In this day and age, there are many direct insurance companies who sell their services directly to you. These companies cut out the middle man and choose to cut out the insurance agent. The thinking behind this is that because you’re eliminating an extra person, the price will go down. However, that isn’t always the case. By dealing directly with the insurance company, a consumer may take on tasks that they may not realize even exist!

 

Why Use an Insurance Agent?

  • Agents have the ability to quickly check prices and coverages with a multitude of different insurance companies. Since rates vary widely, an independent agent can sometimes get better prices, getting you a better deal than you can get for yourself.
  • Insurance is a complicated subject that not many people delve into in their free time. It’s the job of the agent to understand it and communicate it to you in a way that you’ll understand. If there are any hidden surprises, your agent will find them and alert you!
  • Agents are a one-stop-shop for all of your insurance needs. personal and commercial insurance policies can be obtained as well. Even if you don’t want to go with the same company, you can go through the same agent and you can talk with them should any troubles arise.

 

Using an independent insurance agent has more pros than it has cons. From understanding your insurance policy to finding costs at prices you thought were impossible, independent agents are here for you. Make sure that your small business is protected with the right commercial insurance policy. Contact Abatelli Group, Inc. for a proper policy on your insurance needs.

6
Jul

Which Liability Insurance Do You Need to Insure Your Home Business?

Running a home-based business isn’t easy, here’s how you can insure it to protect your business equipment. 

If you run a business from the comfort of your own home, you may not have enough insurance to protect your business equipment. A standard homeowners insurance policy provides only $2,500 coverage for business equipment, which likely is not enough to cover all of your property associated with your business. As a business, you will likely need coverage for liability and lost income.

Regardless of what insurance policy you choose, you need professional liability insurance. Here are the three basic kinds of liability insurance you should consider — depending on the nature of your business.

 

  1. Homeowners Policy Endorsement

You may not need to take out an entirely different policy. A homeowners policy endorsement just adds protection to your already existing homeowners policy to double your standard coverage for business equipment like computers and printers.

 

  1. In-Home Business Policy

An in-home business policy provides more comprehensive coverage than the homeowners policy endorsement. In addition to the protection for your business, this policy could reimburse you for the loss of important papers and records. It may even pay for the income you lose if your home is badly damaged from a covered peril that it forces you to temporarily pause your business.

  1. Business Owners Policy (BOP)

If your business is on the bigger side of things, as far as home businesses are concerned, then homeowners insurance policy and any add-ons won’t exactly cut it. It covers business property and equipment, loss of income, extra expenses, and liability—like the other policies, only on a much grander scale.

 

Whichever you choose is best for your business, it’s important to realize that not even your business is immune to dangers. Make sure that your home business is protected with the right commercial insurance policy. Contact Abatelli Group, Inc. for a proper policy on your insurance needs.

4
May

Employee Retention Tips for Small Businesses

If you are a small business, take these tips into consideration if you want to keep your best and brightest employees and have high employee retention. 

Great employees are the lifeblood of any business, but employers are the heart that pumps this blood which makes their business succeed. Losing employees is a concern for any small business because it costs them not only money, but time and productivity. For small companies, keeping the productive and hard-working employees is crucial. Here are a few tips on how employers can have high employee retention for their business.

  1. Stay Competetive. Stay Creative.
    Beating the salary of a bigger company may be difficult, but you can keep your employees by staying competitive and creative. Offer bonuses for a job well done. Additionally, you can offer flexible schedules, work from home days, extra vacation days, et cetera.
  2. Acknowledge Achievement
    No one likes to feel ignored. Be sure to acknowledge your employees so they feel appreciated and part of the team. Even something simple like sending your employees “You are doing an awesome job!” can make all the difference. This goes double if you have Millennials working for you, who feed off acknowledgment.
  3. Listen to Your Employees
    You can’t know what your employees need if you don’t listen. Regularly ask your employees what they need and want from their jobs as well as the company. Don’t wait until it’s too late because by then, your best employees will have surely left.

Take these employee retention tips into consideration in order to keep your best employees. Make sure that your small business is protected with the right commercial insurance policy. Contact Abatelli Group, Inc. for a proper policy on your insurance needs.

6
Apr

How to Find Business Insurance That Matches Your Business

Every business is different and requires different levels of coverage, which is why it is important that you find the appropriate coverage that matches your business. 

Your small business can come in countless sizes, and for every size there is a small business insurance plan that is right for you. The coverage that is right for your business depends on a few factors like your business type, where it’s located, and whether or not you have employees. If you want to purchase the right business insurance that matches your business, take these tips into consideration.

Finding Insurance for Your Business

Home-Based Businesses

Many successful businesses started from the safety and convenience of their home. Normally, home-based businesses consist of zero or one employee and generate relatively little revenue. But that doesn’t mean home-based businesses should go uninsured. Homeowners insurance will not cover liability or damage done to your home-business’ equipment. You have to ensure that you purchase a business insurance policy that covers your home-based needs.

Small Businesses

Many insurers consider a business with 50-100 or fewer employees to be a “small business.” A very common small business policy is called a “business owners policy,” or BOP. If you have fewer than 100 employees and only make a revenue of up to $5 million, a BOP may be right for you. Every business is unique, and a BOP may not suffice. You can customize your insurance policy to meet all of your business’ requirement to ensure that it is safe from all the risks that pose a threat.

No matter the size of your small business, you can count there’s a business insurance policy to match its needs. Make sure that your small business is protected with the right commercial insurance policy. Contact Abatelli Group, Inc. for a proper policy on your insurance needs.

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