Small business owners often think that a simple business owner’s policy offers enough protection. However, a single insurance policy can’t address all risks. Here are just a few critical and often overlooked small business coverages your company may need. Cyber Insurance According to NetDiligence’s Cyber Claims Study 2020, 96 percent of all cyber-related claims were… Read more »
Business owners need to get a certificate of insurance (COI) from their insurer. It provides the assurance customers, contractors, and other businesses need before they decide to work with you. So, what is a certificate of insurance and why is it so important? Let’s take a look. What is a Certificate of Insurance? A certificate… Read more »
Many business owners believe they have automatic coverage from their Rhode Island homeowners insurance policy for their small home based business. However, the reverse is actually true. Most policies specifically exclude business pursuits. Without proper insurance coverage, they may be liable for damage or injury if something occurs while conducting business on or off their… Read more »
It’s not surprising that many people are picking up side hustles during the pandemic to make ends meet. There’s a huge surge in deliveries, and services such as Uber and Lyft continue to gain a foothold in the marketplace. However, many drivers don’t realize that their personal auto insurance usually won’t protect them. If you’re… Read more »
Social distancing efforts have led to new ways of doing business during the coronavirus pandemic. Curbside pickup is a great way to keep customers safe while collecting their orders. However, for many this is a totally new way of doing business and there may be many things owners have not considered. Here are 5 things… Read more »
General liability insurance is a must-have for any business, as it will pay for expenses such as attorney fees, court costs, and judgements and damages you need to pay if your business is found at-fault during a lawsuit. Even though it is an indispensable coverage, it isn’t designed to protect you from all lawsuits or… Read more »
Many companies have been forced to shift their business model to include deliveries during the pandemic. This is understandable as business owners want to do what they can to survive and delivery services are enjoying unprecedented demand. However, it is also very risky if owners and workers are relying on their own vehicles and personal… Read more »
Providing work from home options has been a necessity since the pandemic shook up the business world. However, this working model also presents many potential liabilities business owners need to understand. In some cases these risks may not be covered by your current business insurance and you may also assume more responsibilities. Let’s review how… Read more »
General liability insurance is considered essential for most Rhode Island businesses. However, much confusion surrounds what it does and does not cover. Let’s look at the basics of a general liability insurance policy and why it is important for your business. What General Liability Insurance Does Cover Most policies cover third-party bodily injury and property… Read more »
In Rhode Island, workers’ compensation insurance uses three factors to calculate premiums: rate assigned to each payroll classification in your business, total amount of payroll for each classification, and your experience modification factor. The third is the only one within your control to change. Handling your experience modification factor poorly will cost you plenty. However,… Read more »