Three Considerations For A New Business

insurance agency

Being able to call yourself a business owner is an exciting new beginning, but remember that that’s exactly it: A beginning. There is still much to consider even after you’ve obtained your merchant’s license and registered a name with your state — that is, after you’ve given your license a nice frame!

Be Covered

Whether you are opening a restaurant or cannabis supply store, you need the right kind of insurance that is appropriate for your business. If you sell only glassware, for example, would a food spoilage package be relevant for you? Likely not. Understand the difference between specialty insurance programs and all other kinds of insurance and speak to an agent to help guide you; is a great place to start if you’ve got questions.

Be Safe

If you have a brick and mortar building, use safety precautions to help keep yourself and your employees safe. Some easy ideas include installing bright LED lights outside, attaching a bell to the door and installing security cameras.

Be Prepared

The Boy Scouts rule is good advice everywhere. Remember that you’re taking a big risk here and you need to understand your business plan and where you want yours to be in the future. Do what you can to understand the market, your audience and how to reach them as well as making responsible financial decisions.

To succeed as a business owner you need to know what you’re getting yourself into. Be responsible and take care of yourself and employees.

modification management : Know About Ex Mod Insurance

Workers’ compensation insurance is a critical component of all business insurance policies. What many business owners don’t know, however, is how the cost of their coverage is calculated. Why do some companies pay higher premiums than others? Part of it has to do with your ex mod rating. Here’s what you should know about ex mod and how it impacts your workers’ comp insurance cost.

What Is Ex Mod Insurance?

Also known as Experience Modification Rate, it is a score assigned to you by the Workers’ Compensation Rating Bureau that helps to determine the total cost of your workers’ compensation insurance. Simply put, it’s a factor that takes into account your previous claims history when calculating your premium.

How Does The Ex Mod Work?

As you can see on, insurance companies calculate your premium by first multiplying your base rate which is your payroll per $100 by your industry classification rate. It will then multiply your base rate by your ex mod factor. If your claims history falls within the average range of others of your size and industry, you would receive a mod factor of 100. If your history is better, you may receive a factor of 90 or a 10% discount. A worse history may land you with a factor of 120, or a 20% higher premium.

When it comes to your workers’ compensation, it pays to have a positive history or even no history. A negative history can greatly impact your costs.

Caitlin Morgan Insurance

Residents and their families take great care in choosing an independent living facility. In addition to protecting your business with independent living facilities coverage, you can take steps to make sure your facility meets the needs of residents. Happy residents stay longer and contribute to free advertising.


The insurance firm Caitlin Morgan Insurance states these senior housing communities do not require on-site nursing staff or medical care. While the residents may live independently, they may no longer drive. Offering transportation services to doctor’s appointments along with local attractions makes your facility attractive.


The offered amenities vary by facility. Facilities have in-house restaurants, craft rooms, on-site beautician, media rooms and craft areas. Parks and beautifully landscaped grounds invite residents to maintain physical fitness while looking aesthetically pleasing.


Meaningful relationships are forged over the common ground making activities a must-have for independent living facilities. Gardening, golfing, game night, bingo and events keep residents interested and engaged with the community. They have the opportunity to do things they enjoy.

Offering seniors the opportunity to continue doing things they love in a community that allows them to thrive helps make your facility appealing. Independent living facilities coverage covers a variety of liabilities faced by your business, so you can focus on caring for your residents.

Real Estate

The real estate business has made quite the comeback since a 2009 low. Investment property insurance can help you protect those investments. These strategies can help you jump into the real estate market.

Undiscovered Location

Undiscovered cities may offer a better investment, especially for new investors. Smaller markets may offer better deals than crowded big markets. The insurance firm Moody Insurance Worldwide states even vacant properties can receive protection.

Wholesale Investing

Investing in wholesale real estate reduces the turnaround time without the sweat equity of other options. Other investors use wholesalers to find and purchase property without spending the search time.

Stock Market

Stock options are another way to invest in the real estate market. Part of the S&P 500, real estate investment trusts (REITs) provides attractive returns to investors helping to diversify your investment portfolio.

Flip Houses

Thanks to many popular TV shows, house flipping has grown in popularity in the past few years. There are people currently house flipping as their main source of income. Some markets may be saturated, but it still remains an effective strategy for real estate investors.

During the ownership of a property, investment property insurance is necessary to protect against financial loss caused by damage. Protect rental investment with added insurance and continue to diversify your assets.

Business travel accident insurance provides protection for your employees and supervisors when traveling as part of their role at the company, providing you with a key protection for the personnel you need to send wherever opportunity presents itself. Travel accident policies are designed to fill the gaps in coverage that are created during travel, gaps that employees with a static workplace don’t encounter. This provides peace of mind for yourself and your employees, so they can focus on the business at hand whether you are sending them to close a deal, support a client, or deliver a presentation.

Common Sense Protections

Death and dismemberment coverage for employees who travel is an essential protection, if only for the extra assurance it provides. The policy can also be written to extend coverage to non-employee groups as necessary. Just ask your contact at Moody Insurance about policies that cover:

  • Church groups
  • Directors and officers
  • School groups

Business travel insurance that protects you in the event of accidents is affordable, flexible, and easy to set up for your group, whether you’re covering employees or other individuals traveling with you to get the work done, wherever you do it. Don’t leave gaps in your risk management plan when the solution is so easy to set up, just talk to someone about your needs and see what options present themselves.

questions to ask references

Performing a throughout check on a potential employee is part of a staffing company’s due diligence. Knowing which questions to ask references means you can obtain a full understanding of someone’s ability to complete the necessary work of a new job.

Topics To Discuss

Apart from identifying yourself and the position an employee applied for, you should also inquire how the reference knows the candidate so you can verify the information as a professional reference rather than a personal friend. When you are conducting reference checks, you should always ask about the following aspects of the potential employee:

  • Work ethic
  • Strengths and weaknesses
  • Listening and communication skills
  • Reason for leaving the previous job
  • Potential in the new job

It’s also a good idea to ask what the employee was like as a co-worker and whether the employer would consider re-hiring them. This can provide an overall visual of how that person might fit into another company and what they are like as an employee in general.

Preparing for Your Phone Call

According to the information found on, there are certain questions to ask references, as well as ways to go about doing this, that help you get a better feel for a potential employee. Asking these questions can help you make an informed decision about whether a candidate is a good fit for the job description and company in question.

David Sayles Insurance

As a business owner, you want to be sure your company is well-protected. Part of that protection is having enough insurance coverage. Insurance policies are typically complicated and can sometimes be hard to understand. For example, on the surface, an umbrella policy and excess liability policy look much the same. They’re actually much different, though. According to David Sayles Insurance, here is the difference in umbrella vs. excess liability insurance.

Umbrella Policy

An umbrella policy provides more insurance than a traditional liability policy and covers a wider variety of situations. Sometimes, it even has a worldwide coverage territory. However, the specifics of umbrella policies depend on the insurance agency, so it is best to ask about the coverage rather than make assumptions.

Excess Liability Policy

An excess liability policy doesn’t offer protection for a broader range of situations. It simply offers more financial protection above the limits of the coverage you already have. In some cases, it’s even more restrictive and won’t provide additional funds for certain situations.
Deciding which policy is best for you depends on your personal insurance needs. You’ll likely only need one of these, but depending on your industry and the worth of your company, you may need both. A reputable insurance agent and business advisor can help you determine which is best for your business.

PL risk announces company expansion

In order for you to select the right insurance for your business, you need to take the time to consider your options. There are a number of factors that will determine which policies and providers are the right fit for the needs of your company. Above all, it can be useful to think about the unique nature of your business and the specific risks posed to it. Tackling insurance from the right perspective can provide you with a policy that covers all potential dangers.

Areas to Consider

Researching your options with providers can do wonders for helping you select an agency that fits your requirements. When organizations like PL risk announces company expansion, it means they are ready to take on new clients. Assess an agency based on the needs of your business to find the best fit. Areas to consider include:
Workers’ compensation
Risks and omissions
Digital crime
Specific Needs
Every business will have different needs when it comes to an insurance policy. If you take out the wrong coverage option, you might find that you are not protected when a commonplace issue arises. Before you can decide on an appropriate plan, give yourself time to assess the more common risks associated with your industry and learn about policies that can protect you.
The right insurance means everything for the future of your business. Take a close look at your options with providers and policies to discover the best fit.

Whether you choose to visit the United States through a motorhome, converted bus, or a camper van, you will be subject to insurance requirements based on your home state. The RV insurance requirements in Texas are designed according to the three types of vehicle classes you might be traveling in. Coverage can also depend on how often you use your RV, such as living in it full time, and other factors.

Three Classes of RVs

The three types of recreational vehicles are divided by A, B, and C. They are broken down according to the following characteristics:
Class A– This class includes vehicles up to 75 feet long, and are the lines of motor coaches, luxury coaches, and converted buses.
Class B- Out of the three classes, this one is the smallest of RV’s. The class included cargo van designs, camper vans, travel trailers, and vehicles without a cab-over.
Class C- This class can include the vehicles using a cargo van as the driven portion with a camper extending above the cab area. Fifth-wheel vehicles fall under this class.
The advisers at recommend purchasing RV coverage to cover the similar risks that an auto policy would cover. It can include collision, liability, and comprehensive coverage. Additional elements might also include total loss replacement, campsite coverage, emergency coverage, and roadside assistance.

Arroyo Insurance programs

With the reliance on digital transmissions, computer software, and technological devices for business operations, companies everywhere are exposed to new risks and exposures. The threat of cyber attack has businesses all around the globe looking for a form of protection and reliable security. Small business cyber security measures are just as necessary as the precautions taken by global corporations, although the extent of the threat may not be as severe.

Insurance Coverage Options

The insurance options for cyber liability usually cover the financial losses that incurred when a cyber-attack or data breach occurs. The coverage might be inclusive of first and third-parties. If your computers are hacked, the coverage could apply for claims that are filed against your company by those injured as a result of the hack. As referenced by the team at Arroyo Insurance programs, the most common coverages include:
Loss or damage to electronic data as a result of the cybercrime
Lost income or incurred extra expenses dealing with the aftermath of the cybercrime
Cyber extortion losses when responding to a ransom or extortion demand
Notification costs incurred following a breach to inform necessary parties
The specifics of your cybercrime liability policy will be underwritten according to the nature of your business and the extent of your exposures. Check with your agent for the best coverage options and allowable limits.

Scroll to Top