Business Insurance

So, you’re ready to start a business and make your passion projects profitable. However, there are a lot of ways that things can go wrong and cost you a lot of money. Luckily, there are various types of business insurance available to protect your company. But how can you make sure you’re getting the right type of insurance for your Atlanta business? Start by taking a look at this guide.

How to get business insurance in Atlanta.

1. Find a business insurance agent

Ultimately, the easiest way to get the insurance you need will be to work with an independent insurance agent. Independent agents (like us!) have relationships with different carriers. We know all about the Georgia regulations for insurance, we’re familiar with the discounts you may be eligible for, and our agents have many years of experience with various industries. So, we can pair you with a professional in your business’s industry, identify your specific risks, and do all of the shopping for you so that you only get quotes on the best policies for you.

2. Know your risks

There are a ton of different factors that determine the type of risks you’ll need to protect your company against, including your business location, business age, number of employees, etc. Restaurants face different dangers than auto body shops. Professional organizers face different risks than event planners. Even a tow truck company is going to have different concerns than an auto hauler operation. So, it will be important to sit down, take a moment, and think about the worst-case scenarios that your business may face.

3. Find out what type of business insurance is required

Just as there are certain permits, licenses, and regulations to abide by when you form a business, there may also be requirements for the types of insurance you must have. Usually, it’s a good idea to start out with:

General Liability

General liability is the form of coverage that can help you cover the cost of medical bills if someone is hurt on your business’s property. It can also help pay the legal fees if the person sues you for the injury.

Commercial Property

Regardless of if you sell goods or services, there can be a lot of equipment that goes into running your company. If something were to happen to it, you wouldn’t want to go into personal financial ruin trying to get your business back up and running. Commercial property coverage can help a business repair or replace property if it was damaged due to a covered loss. Covered losses for a business typically include:

• Fire
• Lightning
• Windstorms
• Vandalism

However, coverage differs from policy to policy. So, check your declarations page, your policy, or ask your agent about exactly what is covered in your particular business insurance policy.

Workers Compensation

Georgia actually requires that a company with more than three workers, including part-time employees, must have workers compensation insurance. Your coverage must be able to pay an employee a portion of their average weekly wages while they are medically approved or required to take off work. There may be more in-depth regulations for your specific industry, but those are the general basics.

You may also be required to have certain types of insurance specific to your industry. This can be especially true of contractors. Some clients will mark certain types of insurance as “required” in order to do business with them. Be sure to look through your contract to find out what types of coverages you need to do the business you want.

4. Be prepared to answer a few other questions

Again, there are a ton of factors that can determine the type and amount of business insurance you need. The most common questions that an agent will ask you to find you the right coverages are:

• What type of business do you have?
• Do you have any past claims?
• How long have you been in business?
• Where are you located?
• What type of building are you located in? How large is the space?
• How many full and part-time employees do you have?
• What is your gross annual revenue?

These questions can vary depending on your industry and how you operate. Risk is determined in different ways depending on the industry, after all. Still, it’s nice to have an idea of what you may need to answer to get the best rates.

5. Calculate how much coverage you need

Sure, you need insurance. Only going for the minimum amount of necessary coverage, however, could be disastrous. Instead, consider how much money you would need in a catastrophic situation to get going again.

Consider how big your business is. Do you have enough coverage to replace vital equipment? Do you have enough coverage to take care of an employee or multiple employees if they’re injured on the job? Do you have enough money to handle a lawsuit? Anything that could sink your business financially is a potential type of insurance you’ll need to include in your business insurance policy.

6. Determine your budget for coverage

Now that you know about how much coverage you need, budget how much you’ll need to get that type of insurance. That number can vary greatly depending on your location, your industry, and the types of risks you’re exposed to.

Don’t forget to include the rates of things like workers’ comp, professional liability, and flood insurance. So, you’ll need to be prepared to pay for at least the insurance that’s required by the state plus what may be necessary for your industry.

So, there’s the run-down on what it takes to get the business insurance you need. It may seem like a lot to consider, but our agents are ready and raring to get you affordable rates on the coverage you need. To start get competitive quotes on the best business insurance for you, just give us a call, fill out our online form, or LiveChat with our agents today!

If you run an auto shop in Atlanta, your days are pretty packed. There are cars coming in, cars being repaired, cars getting collected by their grateful owners. But in all the hustle and bustle of the day-to-day of running an auto shop, it’s also important to consider how your shop is protected. Meaning Atlanta auto shop insurance. Insurance can feel complicated and overwhelming, and you might be wondering what coverages you need to consider for your business. There are plenty of risks that you face, and you need to protect yourself from them. We’re going to break down a few of the coverages you can consider.

What coverages do you need as part of your Atlanta auto shop insurance plan?

It’s important to note that while these are some of the coverages you can consider for your business, they’re not the only coverages that could come in handy for your Atlanta auto shop. However, this is a breakdown of some of the coverages you should know about.

General liability:

General liability can help you if there’s a claim of bodily injury or property damage from a guest. It can help you cover the injured party’s medical bills – and your legal expenses if they decide to sue you. For example, let’s say that one of your customers is coming to drop off their car. They go into your lobby, but they trip over something and take a bad fall, breaking their arm and smashing their nose. Your general liability could help cover their medical expenses – and the legal expenses of the ensuing lawsuit.

Workers’ compensation:

Auto shops aren’t necessarily the safest of places. Workers’ comp can help if one of your employees gets hurt on the job by paying for their medical bills and giving them a portion of their lost wages. To give an example, let’s say that one of your employees is in the back, working on a car, when they slip and fall. They hit their head badly and need stitches, so they need some time off work. Oh, and they sprained a wrist pretty badly. Anyways – workers’ comp could help by covering those medical bills and giving that employee some of the wages they lost while unable to work due to the injury.

Property:

Property insurance can help protect the physical structure of the shop itself against losses like fire. Since there are a lot of flammable things in your auto shop, this is definitely a coverage to consider. Let’s say that you close up the shop for the night, and overnight a fire starts, burning the shop to the ground. It’s the stuff of nightmares, but your property insurance could help you recover from the loss.

Garagekeepers:

Garagekeepers insurance is another important coverage to consider because it can help protect the cars in your care, custody, and control. Since you hold on to your clients’ cars so you can repair them, this coverage is crucial. It can protect against losses like fire, theft, and vandalism. If you had a fire while you were also storing a bunch of cars for repair, your garagekeepers coverage could help you when it comes to recovering from the loss of the clients’ cars.

Umbrella:

Umbrella insurance sits on top of your underlying liability policy and provides coverage above and beyond what the underlying policy offers. To illustrate, let’s say that you have a general liability policy with a limit of $1 million. You also have a $1 million umbrella policy. But then you have a $1.75 million general liability claim (it was a very big claim.) Your general liability kicks in to cover its $1 million, but then your umbrella could take over and cover the remaining $750,000.

Some other coverages you can consider as part of your Atlanta auto shop insurance plan:

Like we said, the above coverages aren’t the only ones that you can get to protect your business from risk. Here are some others:

• Business interruption
• Employment practices liability
• Hired and non-owned auto liability
• Cyber insurance
• Employee dishonesty
• Environmental impairment
• And many, many more!

How to get Atlanta auto shop insurance.

The next question is how to go about getting Atlanta auto shop insurance. Well, we can help. Our team does our best to make the insurance process as easy as possible. Here’s how it works:

• You reach out and let us know you’re looking for auto shop insurance. You can fill out our online form, give us a call, or message us.
• One of our agents chats with you to ask some questions about your business. We need to collect some intel about your business so we can get you the right coverage and get you the best quotes.
• We get your quotes. We work with a lot of insurance carriers, so we’ll bring you some quotes.
• We go over your options with you and help you finalize your coverage.
• We’re here to answer any questions you have or address any concerns you might have about your insurance.

See? Easy. We’re here to help you with your insurance coverage. We know that the world of business insurance is overwhelming, but you don’t have to go it alone.

Get started with your quotes by filling out our online form, giving us a call, or messaging us on LiveChat.

Communication may be the key to any business, but if it’s the sole backbone to your company, you may want to consider professional liability insurance. Words can be taken the wrong way or left out or miscommunicated all the time. So, it’s important if you’re consulting or giving professional advice, that you’re protected from the things that you say or don’t say. But how exactly can professional liability insurance protect you? Let’s take a look.

What is professional liability insurance?

Professional liability insurance is a type of business insurance that can help you if a client loses money due to your advice or lack of advice. It can also help you cover the legal costs of defending your business in court, whether you’re actually at fault or not.

Professional liability insurance is known by many names, including Errors & Omissions insurance or Professional Indemnity insurance. This coverage can also be industry-specific. For example, a doctor’s office may have medical malpractice insurance, or a lawyer might know it as LPL insurance.

What does professional liability insurance cover?

Sometimes the losses to a client aren’t due to property damage or bodily injury. Therefore, it falls outside of what a business’s general liability insurance can cover. If a client claims that they’ve lost money because of a slip of the tongue on your part, you could be held responsible for the extra money they’ve spent.

The most common claims that professional liability insurance can cover are those where a client claims:

• That a professional was negligent
• Misrepresentation
• That the professional was not dealing in good faith
• That the client was given inaccurate advice

In some cases, these types of claims are reported by the client months or even years after the incident occurred. So, it helps that professional liability insurance can have retroactive dates of coverage. In this case, it means that your policy may only cover incidences that happened after a certain date in the past.

Who needs professional liability insurance?

There are tons of professions that can benefit from professional liability insurance. However, the most common occupations that have this type of insurance are:

• Doctors
• Lawyers
• Architects
• Home Inspectors
• Real Estate Brokers
• Accountants
• Financial Planners
• Print Shops
• Marketing Agencies
• Web Hosting companies
• Electricians
• Plumbers
• Wedding Planners
• Professional Organizers
• Interior Designers
• Engineers
• And more!

Professional liability insurance, no matter the name, can also cover different types of risks depending on the industry. So, it’s important to get the right type of policy that fits your specific company.

How can I get the right professional liability insurance for my business?

When considering the type of professional liability coverage you need, you’ll want to consider the answers to the following questions:

• What types of services does my policy cover?
• What time frame is covered by my policy?
• Will my coverage change if my business is sold, merged with another business, or if my position changes?
• What’s excluded by my policy?
• Is there an option to extend the reporting period for incidents?
• Can the policy be customized or modified?
• Have there been any incidents that happened in the past that may result in a claim now?

Answering these questions can help your insurance agent get more accurate quotes and policies for the coverage you need.

How can I reduce the risk of professional liability claims for my business?

As a consultant or similar profession, you may have implemented various policies to avoid misleading your customers. Just make sure you follow these best practices for avoiding professional liability claims:

1. Put everything in writing.
2. Establish a high standard for quality control of your product or service.
3. Keep your company records up-to-date with regular audits.
4. Train your employees thoroughly and properly.
5. Check in with your client regularly
6. Answer any questions, concerns, or comments in a timely manner
7. Get your customer’s informed consent. In other words, make sure that your client understands the product or service they’re receiving and get their explicit consent to perform your duties (when necessary).

We’ve all had to be wary of our words at some point or another. But when your business depends on more accurate communication than most, it’s important to stay clear and consistent with your clients and have the right type of insurance as a safety net. So, don’t miss out on the affordable professional liability insurance that can help save your business! Our agents are professionals at finding great rates on the coverage that fits your services. To start your free business insurance quotes, call us today, fill out our online form, or LiveChat with an insurance professional today!

The Atlanta area is prime for starting a business. Everywhere you look, there are budding entrepreneurs and new businesses popping up in the city and all over its suburbs. But what does it take to actually set up a successful business in such a big city? We’ll take you through a few tips on how to start your successful business in Atlanta.

Tips for starting a business in Atlanta.

1. Create a business plan

Everything that lasts starts with a good plan, and a business is no different. Before you start anywhere else, you need to know the ins and outs of how you’ll operate your business. Start with the general idea of your company and then ask yourself:

• What are my business goals?
• What are my business’s values and mission?
• What are the risks my business will face?
• What kind of customers do I want?
• What kind of objections to my company will I face, and how can I overcome them?
• What kinds of materials will I need?
• What materials and how much do I need to start out?
• What can I compare my business to?
• Who are my competitors?

These are just some of the basic details you’ll have to initially define for your company. Some of them, we’ll help you answer here. If you don’t know how detailed your answers should be, look up “mock business plans” or “sample business plans” on Google. Then, use those models to create your very own plan! This can be helpful for starting a business.

2. Define your Value Proposition

This term may sound scary, but it’s basically a fancy way of saying, “What makes you unique?” There are tons of businesses in Atlanta. So, what makes yours stand out? And how can you describe the difference to others?

If you’re an artist, then your value proposition may be your unique style. If you’re a consultant, it could be a different type of coaching method. If you’re a chef, it could be your signature dishes and the spin you take on traditional foods. In any case, you need to know what you bring to the table and how to properly express it to people in a way that sparks interest.

3. Build a brand

Now that you’ve identified what makes you unique, you need to be able to build a brand around that. Decide on a catchy business name and the type of personality you want your business to put out into the world. Are you a casual or black-tie kind of business? Do you want to be sassy or classic? What kind of voice do you want your business to have? All these are important things to consider when you’re starting a business.

Choose the options that will appeal to the customers you want, and then add a bit of your personal flair. Once you’ve created your brand, make sure that any marketing or company materials are consistent with that vision.

4. Be detail-oriented

While you may have an idea of the “big picture” of your company, there are tons of little details that go into day-to-day operations. What is your budget for everyday supplies? What type of training do your employees need? What is the step by step process of ordering t-shirts? How much will it cost to host your website? What are the safety measures you want to take? Some aspects may not need your attention until later. Until then, go through a typical day in business and pick apart the details of everything that an employee would do.

5. Budget out everything

When you’re starting a business, you’ll need to lay out all the supplies and services you’ll need to keep your business going and how much they cost. Map out how much money you have to start your company and how your start-up expenses fit into that budget. Are there things that you absolutely need right now? Or can something wait until you build up revenue?

Plan out how much you’ll need for behind-the-scenes operations costs like licenses, permits, and insurance. Account for the little things and for emergencies. Have a separate bank account for your business income and expenses so that everything stays organized. It’s important to find an accounting software that works for you, whether it’s an online spreadsheet or the top-of-the-line accounting program.

6. Get the right designations

If you need a certain license to start your business, find out the steps to take to get that designation. Know the legal designation of your business as well – whether it’s a sole proprietorship, an LLC, a corporation, etc. Your personal and business designations could determine how you’re allowed to operate.

Additionally, the legal designation of your company allows you to shift the liability of the business from you as an individual to your company as an entity. So, this step can be vital in making sure your personal finances take less of a hit if any.

7. Know what your tax situation will be

As you’re starting a business, make sure you’ve registered with the correct state and federal tax forms for your company. Allow room in your budget to be able to pay taxes. The best plan for getting your taxes in order is probably to partner with an accounting firm or a business tax professional. That way, you don’t have to worry about overpaying/underpaying your taxes or misunderstanding complicated laws.

8. Build a website

Now, you can start marketing your company using one of the easiest methods of the modern-day: building a website. There are tons of online programs that allow you to design a website or connect to developers to make you a custom site. This is a chance to spread your brand’s message to thousands of people pretty easily. It also presents an opportunity to showcase your work.

These days, most consumers won’t even consider businesses without a website or one with a site that looks slapped together. So, make sure your site looks clean and polished, and that it’s easy to navigate. Optimize your website loading times, and make sure that there’s a mobile-friendly version.

It’s also important to SEO optimize your site so that people can actually find your business in a web search. Don’t randomly insert keywords into your site’s content, though. Google can see right through keyword-stuffing and will knock you out of the top search results. Instead, vary your word choice and make sure that your content flows conversationally. Take an in-depth SEO course online and read up on tips to optimize your site.

9. Choose a location

You need somewhere to meet your customers, right? So, make sure that you choose a prime location for your business. Choose a location that’s convenient and easily seen. Look at locations that are local to your target customers and where the rent fits into your budget.

10. Get the right insurance

At the end of the day, a good business owner hopes for the best but prepares for the worst. Business insurance can be the best way to make sure that you have the tools to rebuild your company if something catastrophic happens. Forming a business means that it’s not just you anymore. So, you shouldn’t have to shoulder the brunt of a business disaster all on your own. Anyways – what we’re trying to say is don’t forget insurance when you’re starting a business.

Depending on the type of business you have, there are tons of different coverages you can get to protect your company. First, you may want to start off with a Business Owner’s Policy or BOP. A BOP is one way to get the basic amount of coverage you’ll need for a business at a better rate than purchasing the policies separately. BOPs usually include coverage for general liability, property damage (for your building), and business interruption insurance.

You may also want to consider coverages that are specific to your business, such as:

• Workers Compensation (this may even be required by law)
• Business Crime insurance
• Flood insurance
• Cyber Liability
• Employee Dishonesty Coverage
• Equipment Breakdown coverage
• Employment Practices Liability
• Errors & Omissions Coverage (E&O)
• Inland Marine coverage
• Liquor Liability

We know that starting a business can be an overwhelming and stressful process. However, our team can put your mind at ease by finding the right coverage for your unique company at the best rate possible. So, make sure you’re not missing out on game-changing coverage for your revolutionary business! Call us today, fill out our online form, or LiveChat with a professional today to start your free Atlanta business insurance quotes.