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How Late Insurance Payments Can Affect Your Business

Paying bills is something we all do as a part of life. Whether it’s personal or business, we have expenses that must be paid. I must admit, I’ve overlooked a bill in the past. For most of us, missing a payment can lead to a service being disconnected temporarily which is an inconvenience, but it doesn’t have a major long-term impact. However, missing an insurance payment is very different – it can result in having your policy canceled and leaving your business uninsured. Missing payments can also have major effects on how much you will pay for insurance premiums…


Declaration Pages – Why They’re Not That Important

I was recently at an event talking with a local business owner. We were discussing the last book she read and how much she enjoyed it. Obviously she was a reader, so I asked her if she also read her entire insurance policy. Like most business owners, she hadn’t because she thought reviewing the declarations pages was sufficient. However, this is a big risk because commercial insurance policies are not created equal. While declaration pages all appear the same, the coverages can be vastly different.

A declaration page is like the cover letter of a fax transmission. It states the…


Insurance – Shopping, Strategy & Sabotage

It is important to shop commercial insurance and there are many reasons to do so, the most common being to control expenses and improve coverages. However, it is necessary to develop a strategy in advance to avoid pitfalls. Planning your approach will help ensure you are maximizing your efforts, meeting your objectives and are not sabotaged by an agent. Here are guidelines to create your plan.

When to Shop: Shopping your insurance policies is not something that should be viewed as an annual routine, but rather as part of a larger strategy. Your strategy should be focused on maximizing your…

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