Insurance Baby - Health Insurance for Infants

What You Should Know About Starting a CBD Business

insbaby / January 12, 2021

Aspiring entrepreneurs who keep their ears to the street, can’t help but notice how much the CBD industry is booming. With more jurisdictions legalizing recreational use as well as more people buying CBD products for therapy, it’s safe to say that the CBD industry holds significant potential, providing lucrative opportunities for those who are willing to plan the work and work the plan. Starting a CBD business might resemble other types of startups, but there are some unique risks and challenges that you should explore as you do your research.

Outlining Your Approach

When it comes to building your own CBD enterprise, it’s important to complete several important steps:

Researching the Law: Unlike other crops, CBD is subject to specific legal restrictions that can impact where and how your business can operate.
Developing a Business Plan: Every business needs a plan that includes market research, economic analysis, financing, marketing approach and growth strategy.
Creating a Brand and Advertising: Choose a company name and begin advertising and marketing, including online approaches.

There’s no such thing as a free lunch, even when there’s a great demand for CBD goods and services. Come up with a plan and work it.

Protecting Your Enterprise

As with other types of businesses, you’ll need a risk management approach. Many business risks are managed and controlled through the purchase of specific insurance products. Look for an insurance provider that can help you find products that cover all aspects of your operations.

Why Roofing Companies and Contractors Should Look Into Specialized Coverage

insbaby / January 7, 2021

The in-demand roofing industry provides essential contracting services to clients, but also comes with some inherent risks related to safety, materials and more that may require specialized insurance coverage for roofing contractors. Both business owners and independent roofing contractors should consider looking into dedicated coverage for several important reasons.

Roofing Can Involve Personal and Third-Party Risks

Though roofing may seem like a straightforward business, those who work in it know that it can involve both personal and third-party risks that may require insurance to offset potential financial harm. Some of the most commonly encountered ones are:

Third-party damages caused by your equipment or construction process
Damage to specialized equipment
Injury on the worksite to either workers or a third party
Materials theft or burglary

Roofing Policies Could Encompass Multiple Programs in One

With dedicated roofing coverage, you could potentially get the benefit of multiple insurance programs rolled into one. For instance, you might be able to get workers’ compensation, general liability, commercial property coverage and more all tailored to your specific niche.

In order to mitigate the risks of the roofing business, businesses and independent workers alike may need to look into insurance coverage for roofing contractors. With extra protection, you can rest easy that you’re covered from financial harm while offering quality services to clients.

3 Ways To Protect Yourself When Your Wealth Makes You a Target

insbaby / December 30, 2020

Many people who have their financial houses in order wouldn’t think of themselves as wealthy. However, to the career criminals looking for their next marks, your net worth is tempting enough to make you a target. Here are three ways to avoid becoming a victim and losing what you’ve worked so hard to acquire.

Close Your Inner Circle

You’ve been smart about business to get where you are, but shielding yourself from nefarious individuals takes more than intelligence. A healthy dose of skepticism about new people is just good sense. You don’t have to mistrust everyone, but keep your guard up when anyone new enters your life.

Insure Yourself Properly

Owning rental properties or a high-value home instantly makes you a big fish that scammers will eagerly cast their nets to catch. Purchase high net worth personal insurance coverage that will protect the full value of your possessions and help defend you against claims and accusations.

Avoid Conspicuous Spending

You’ve worked hard, delayed gratification and behaved responsibly to get where you are, and you deserve to spend your money as you see fit. However, purchasing a luxury car and even making sizeable donations to charities can make you a target to criminals on the prowl. Consider alternatives like a sensible vehicle for everyday driving and making charitable donations anonymously.

Wealth protection is as important as wealth acquisition. Make sure your hard work doesn’t become an easy source of income for someone else.

Do You Need Defense Base Act Insurance for Your Business?

insbaby / December 2, 2020

If you are a business owner who contracts with the U.S. government for work outside the country, you must comply with the requirements of the Defense Base Act. Penalties for not complying can be devastating to your company, including large fines, lost contracts and potential lawsuits.

What is Defense Base Act Insurance?

DBA insurance is similar to workers’ compensation insurance. If your employees are working outside the U.S. and are injured or get sick due to a work-related event, they will be protected. The insurance helps to cover their medical bills, along with potential reimbursement of lost wages. This insurance will also protect your company against unwanted and costly litigation.

The groups of people for whom Defense Base Act insurance is critical include the following:

Those working on foreign soil for public works businesses that are funded by the U.S. government
Workers involved with foreign government-based military contracts or public works projects that are critical to our national security
Employees who work on a military base located outside the country
Others who work on behalf of the U.S. government but not related to military operations
Additional workers under a subcontract for the reasons listed above

Talk with your insurance agent to ensure that you have the proper protection for your employees who work on government-funded projects outside the United States.

Sensible Insurance Coverage for Real Estate Brokers

insbaby / November 26, 2020

As a real estate broker, part of the excitement of your line of work is being able to help people find the properties that will make their dreams come true. Whether you specialize in residential spaces or you’re more involved in the ups and downs of the commercial industry, you absolutely must consider your own protection in this field. Brokers may help people find real estate, but they also put themselves at risk for a number of complicated legal problems. This is where the right insurance comes into play.

Begin With Liability Coverage

First, you want to make sure you have real estate broker professional liability insurance. Brokers typically have several agents working under them. Professional liability coverage not only protects the broker, but also the individuals who work beneath the broker. What’s more, your standard liability package will include errors and omissions coverage, helping you with some of the more commonplace problems of your industry. Additional points to focus on with your plan can include:

Protection for subcontractors and other visitors
Directors and officers insurance
Property insurance for your company offices

Get Started Today

By looking at a number of different fronts when selecting your insurance coverage, you can see better results from your efforts. Find what works best for you and keep yourself safe while helping others find properties they adore.

Ways To Prevent Construction Accidents

insbaby / November 20, 2020

Construction accidents are a primary concern of project managers. They must take steps to avoid the likelihood of workplace injuries and maintain a safe and healthy workplace.

There are many potential hazards on a building site and actively working to reduce accidents that protect employees’ lives has financial benefits, too. Fewer mishaps result in lower insurance premiums and less employee downtime. A reputation for excellent health and safety attracts workers to your company and increases business.

Know the Risks

Managing possible dangers requires that a business first recognize the types of injuries most likely to occur. An owner needs to conduct a thorough assessment of the workplace risks before beginning a project and identify potential construction accidents. With a detailed outline of possible hazards, managers can develop a plan to ensure safety on the job site.

Ongoing Training

A company must have frequent meetings about potential dangers that include feedback from the crew. Everyone involved with the project should come together to address concerns and brainstorm solutions. This group effort is the best way to identify known risks and prevent injuries.

Maintain Equipment

It is vital to inspect machinery regularly and keep a written record of repairs and maintenance. Tools and equipment must be in proper condition to ensure the safety of workers.

Safety Gear

Employees need to wear personal protective equipment. Companies should provide and maintain gear for workers.

Responsible supervisors who are aware of worksite risks can significantly reduce construction accidents and injuries on the job.

Extra Steps To Protect Your Drivers

insbaby / November 17, 2020

Many businesses rely on drivers to keep their companies headed down the path of success. Whether you have truckers carting cargo across the country or your employees make local deliveries to members of the community, there are plenty of steps you need to take to protect the men and women who work for you in this way. The risks change dramatically when a person leaves the confines of your company’s base of operations. As soon as someone gets behind the wheel of a car, anything can happen. This is why you absolutely need practical insurance.

Going the Extra Mile

One extra step you can consider when taking out your plan is truck road service. Consider a scenario where your driver has several flat tires and becomes stranded on the side of a highway. Not only is your employee in a predicament, whatever is being transported is now also stuck between destinations. With insurance that includes roadside assistance, you can have professionals on the scene in no time. This helps to cut back on wasted time and gets your driver back on schedule. Additional ways to protect your workers can include:

Appropriate coverage for medical and similar expenses
Standard workers’ compensation package
Insuring the vehicle and assets within

Providing Peace of Mind

To do what is best for your business, you need to show your employees proper care at all times. Help your drivers by taking out insurance that keeps anyone who hits the road for your company safe and sound.

When Do You Need Construction Performance Bonds?

insbaby / November 11, 2020

There are a lot of construction bond types to choose from when you’re taking on a project, but not all of them apply to every new building or development your team works on. So how do you know what to buy when? If you’ve been around the block a few times, it gets easy to predict. If you haven’t, your bond provider or insurer can help you parse the purposes of various construction bonds to decide when you need each. One of the most common types is the performance bond, which protects clients in the event your team fails to deliver the progress needed to reach milestones on time or otherwise causes losses to the customer based on performance issues.

How Much Protection Do You Need?

Figuring out the right bond values can be difficult, because you need to be able to calculate the maximum loss your performance issues could predictably cause the client to be fully covered. That’s why your best bet for a cost-efficient bond that covers everything you need is to work with people who make construction performance bonds their core business. That way, your bond provider’s experience helps you make sure you’ve got a robust risk management solution before you jump into a new project. That gives your client peace of mind, and it protects your business at the same time.

3 Benefits of Using an Insurance Marketing Agency

insbaby / November 3, 2020

Effective marketing plays a central role in getting your insurance company off the ground. Whether due to a lack of time or marketing experience, beginning or expanding your outreach may feel like an overwhelming task. Excellent insurance marketing companies can help relieve some of your stress while simultaneously increasing your reputation and visibility.

1. Better Brand Building

One of the most important factors in marketing your business is your brand. Having a consistent brand can help your company become a household name and ensure that customers know what they’re getting when they turn to you and your company. Insurance marketing agencies can help by employing specific strategies that attract a loyal customer base.

2. Stronger Online Presence

Although it’s crucial to establish a social media presence in order for your business to succeed, doing so is easier said than done. There are now multiple platforms to keep up with, and customers expect regular engagement. Marketing agencies can advance not only your social media accounts but also your website, which must remain current and accessible to all potential customers.

3. Increased Customer Outreach

In addition to the customer base you’ll build from better branding and a stronger online presence, marketing agencies can employ other strategies to help you attain and keep customers. You can return to business as usual while experts analyze your company data to determine new ways to increase your visibility in the insurance community.

Many rely on professionals to market their businesses, and insurance companies are no exception. If marketing is outside of your comfort zone, consider turning to an agency to give your business the boost it needs.