Mitigate Business Insurance Risks of Working From Home

Business Insurance

With the increased popularity of remote work, companies are faced with a dilemma: do they allow employees to continue to work from home to save on overhead costs, or do they require employees to work in office environments? Either way, there are risks and benefits associated with both choices, and both choices require adequate business insurance coverage.

With remote working, there is a new wave of legal issues arising in regards to workers compensation and liability insurance for remote workers. For example, If your employees work from home, or at coffee shops, or in other remote locations, you need to make sure they protect themselves from hackers. They are more vulnerable than if they were sitting at their desks, and they need to know that their actions have real consequences.

An employer may still be found liable for events that occur to an employee in the course of employment. With the right business insurance accounting for remote workers, an employer can feel confident that their business is properly protected — regardless of where their employees are.

Working From Home Safety Risks

There are numerous safety risks associated with working from home, including the following:

  • Unsafe at-home work environments, such as environments vulnerable to events like fires, theft, and flooding
  • Injuries that occur in the home office
  • Cyber-security risks increased as remote workers may be viewed as soft targets to cybercriminals
office team
Unlike in the office space illustrated above, employers do not have control over the safety of an at-home work environment.

How to Mitigate Insurance Risks

There are many ways for employers to mitigate insurance risks and workers compensation claims:

  • Enforce at-home safety protocols
  • Instate cyber protocols to prevent cyberattacks
  • Enforce cybersecurity measures to prevent data from being compromised

Working from home for good? Discuss how to mitigate insurance risks and business insurance options with a trusted agent at Prince Insurance.

Inland Marine Insurance

truck transportation

The name is confusing, but the coverage is extremely important. Inland marine insurance has nothing to do with the sea. It got its name from the expansion of marine trade routes. It refers to coverage for inland business transportation routes and everything that makes it possible to move goods by land. If you run an import/export business or do any kind of storing or transporting of goods, then you need a strong inland marine insurance policy.

Coverage Plans and Plan Benefits

Inland marine insurance covers you against the two main types of threats to transported goods: collisions and cargo theft. If you use cars, trucks, or trains, then your goods are at high risk of being in a collision. If a vehicle were to crash, you could lose the goods on board. Equally risky is theft. In warehouses and along the transportation route, your items are vulnerable to being stolen. Many times, inland marine insurance is part of a larger comprehensive “Business Owners Policy”. But this specific type offers unique benefits in that it can cover high-value goods during transit, like construction materials, computers, medical and scientific equipment, or other essential business materials like a built-out trade show booth.

Protect your goods during transit in case of collision — get inland marine insurance.

Types of Businesses That Need Inland Marine Insurance

Still not sure if it’s right for you? If you transport items regularly via land that would be difficult to recover if lost, then you need this type of insurance. Even if you only transport them once or twice per year, it’s still smart to cover yourself if the loss would be incredibly damaging. You need it if transportation, import/export, or any type of shipping is involved in your business.

Protect your goods and your business with inland marine insurance. Contact us to get a quote for your specific business needs today.

Customized Cost-Effective Insurance Solutions for Craft Breweries

Good brews, good service. The two most important elements of running a great craft brewery. You’re the experts on these things, so we won’t try to give you any advice about fermentation. But we do know how to protect your business with the right kind of insurance. From the physical equipment to employee coverage, here’s what you need to know about cost-effective solutions for craft brewery insurance.

Type of Insurance Needed to Protect a Craft Brewery

Your business is not just the bottles and the cardboard packs. It’s the brew stations, the employee break room, the front desk, the delivery vehicles, and more. To protect your entire business, you need insurance that covers the physical brewery, the actual brewing process, and your employees. If you’re interested in growing your business, then your brewery absolutely needs robust coverage. A single incident could set you back years if someone gets injured and you get a bad reputation due to not having coverage. Alternately, you could be subject to income garnishments if a lawsuit goes through. But with the right level of coverage, you won’t have to worry about any of these problems befalling your brewery.

Running a craft brewery is exciting—but risky. Protect your business with craft brewery insurance.

Benefits of Working With Prince Insurance

We have been in this business long enough to make smart recommendations. But we’re also not so outdated that we can’t help you manage modern risks. The Prince Insurance team will get to know your business first hand so that we can recommend the most comprehensive coverage. Craft brewery insurance can be complex, but we’re here to make it easy for you.

Ready to start the conversation? Contact us to learn more about protecting your craft brewery. From your equipment to your team, together we’ll find the level of coverage that works for you—and then we’ll clink to your ongoing success.

Why Every Business Needs Disability Coverage

man welding with sparks flying out

As a business, your employees are your number one priority. As your number one priority, you need to assure them that they will be taken care of if they suddenly require extra assistance to be able to perform their jobs.

Equipping your business with the right Disability Coverage policy can provide exactly this kind of assurance.

How Does Disability Coverage Work?

If an employee gets injured, becomes sick, or suffers some form of general disability that hinders their job performance, Disability Coverage works to get that employee the help he or she needs to be able to continue doing his or her job. Or, if that employee can’t return to work, Disability Coverage can make sure they’re covered even when they can’t work, such as with Workers Compensation.

doctor holding someone's arm in a cast
Disabilities don’t always result from just physical injury in the workplace.

Without Disability Coverage, it can be you or your business that has to pay out of pocket to help that employee. Many businesses are more than happy to support their employees this way, but it can nevertheless pack on a substantial financial burden that some businesses, especially newer ones, aren’t able to sustain long-term.

Therefore, the best way to support your employees is to offer Disability Coverage. This way, even if an employee can’t return to work after an accident, they can rely on their Disability Coverage to provide a large portion of their income (usually 50-70 percent) and maintain their standard of living until they get back on their feet

How Do You Get Disability Coverage?

Getting the right Disability Coverage for your business requires working with an insurance company that is familiar with your industry, your type of business, and the needs of your specific employees.

This is why getting coverage from Prince Insurance Group is a great choice. With over four decades of experience working with all kinds of different businesses, we can quickly provide you with a tailor-made policy perfect for your business and employee needs.

Get in touch with Prince Insurance Group today to start setting up your business with the perfect Disability Coverage.

The Importance of Insurance Programs for Businesses

group of young people standing in a field smiling

The people that work for your business are more than employees – they’re family. Because of this, they deserve the same level of protection and coverage you would offer your family.

With the right insurance program for your business, you can offer them just that.

What is a Business Insurance Program?

You can think of a Business Insurance Program as something that keeps your employees healthy, motivated, and assured to be able to pursue their job effectively, knowing that they’re covered at every angle.

4 people talking in a circle smiling
The right Business Insurance Program can improve employee loyalty and productivity.

A comprehensive program will often include such things as:

How is a Business Insurance Program Beneficial?

Other than promoting better work from your current employees, these types of programs also help attract new, top-tier talent to your business.

After all, employees want to work for businesses that give them all the necessary coverage and support they need to do their job well. This is often why you’ll see businesses publicly advertise exactly what is included in their insurance program in job ads, right alongside salary and vacation time.

How to Choose the Right Business Insurance Program

There are a lot of moving parts to your business, with different types of employees, across different industries, having different types of insurance needs. This is why when pursuing the right Business Insurance Program for your business, it’s essential to work with a company that is familiar with your industry, can understand your employees’ specific needs, and accommodate them appropriately.

That’s exactly what we at Prince Insurance Group have spent the past 40 years mastering – providing the best protection plans for businesses and their employees.

Learn more about setting up your business with the perfect insurance program through Prince Insurance Group today.

Why You Need Builders Risk Protection

sillouhette of two men a construction platform.

After finally seeing your new home, office, or general property fully constructed, it’s a natural impulse to want to protect it from the elements with insurance – you don’t want something as simple as a flash flood to ruin what you’ve waited so long for.

But what about insurance for your property during its construction, as well?

Construction Risks and the Importance of Builders Risk Insurance

Although people tend to neglect insurance for their property during its construction, the reality is that properties are often more susceptible to damage during construction.

For example, a lack of complete coverings and security features makes properties being constructed much more susceptible to weather damage from wind, hail, or rain, as well as theft and vandalism.

This is why if you want to increase the chances of your property coming out exactly the way you imagined and save money in repair, replacement, and labor costs along the way, protecting it during construction with a Builders Risk policy is a very smart move.

A construction project filled with half built red platforms.
Given the in-progress nature of structures around construction sites, they’re much more susceptible to potentially dangerous elements like weather.

This type of policy can provide the following types of coverage:

  • Structural Coverage: Protects the buildings and other structures associated with the project.
  • General Liability: Protects the at-risk people working on the project.
  • Equipment & Materials Coverage: Protects the equipment and materials being used for construction.

Of course, these are simply the most common forms of coverage that go into most builders risk policies; what ultimately ends up being covered in your policy will depend on the needs and features of your specific project.

In some cases, you may need more comprehensive coverage, such as that found in contractor insurance or construction insurance.

Who Should Get Builders Risk Insurance?

Because of how many moving parts are typically involved in a construction project, it’s very normal for more than one name to be on a Builders Risk policy.

For example, while it’s most common for Builders Risk insurance to be taken out by those funding or managing construction, it’s also just as common for landowners, architects, engineers, and any other specialized professionals involved with the project to sign their names as well.

Getting Set Up with the Right Coverage

There’s no such thing as a one-size-fits-all Builders Risk policy. That is why it’s so important to prioritize working with insurance companies that understand not just how to protect construction properties, but that have enough expertise to be able to provide a tailor-made solution to your specific coverage needs.

Fortunately, these are exactly the types of policies that Prince Insurance Group can help you with.

To learn more about getting the perfect Builders Risk policy from professionals you can trust, contact Prince Insurance Group today.

Best Insurance Options For Independent Agents

open office spaced filled with people working at their latops

When working on your own, you are probably trying to enhance your practices for all clients. It can be challenging as a small business or solo-contractor trying to figure out which techniques will be the best received by new and old customers alike. One way to ensure that you are safe and covered in all areas of your business is by being insured.

Insurance policies for independent agents can often be challenging to find unless working with a company that understands your needs and goals as a sole proprietor. While you can want to stay competitive and offer your clients the best, you should always be looking for ways to improve.

Offer The Best

If you want to stay competitive and keep your clients satisfied, you need to offer them the best. Insurance policies for independent agents can luckily be more flexible, as there are no overarching guidelines for which you need to stay informed. You have the power to do what you feel is best for your business and your clients.

Know Your Packages, & Boost Your Business

One of the best ways to stay on top of everything is by knowing your packages’ details. The better you understand your package, the more likely you can perform in a way that benefits not only you, but your clients now and in the future.

open office space with a long working table in the middle
Independent agents must ensure they know the details of their insurance policies.

Boosting your business is probably one of your primary concerns. By acquainting yourself with your policy’s details, you can better inform clients and offer them better deals and services. If you work with a company that keeps you informed of your policy details, you don’t have to worry about feeling in the dark.

At Prince Insurance Group, we can offer the best insurance policies for independent agents. Whether you are just starting in business or already have a string of loyal clients, we can elevate your business and ensure all of your transactions are carried out with finesse.

Contact us today to find out more about the ways we can help you.

Is Bundling Insurance a Good Option?

4 people talking in a circle smiling

There are so many types of policies out there, and you might be wondering about the best way to group them. Bundling insurance policies is a smart idea, both for personal insurance and business policies. Here’s what you need to know about how to bundle, popular combinations, and the benefits you can enjoy when bundling insurance policies.

group of young people standing in a field smiling
Bundling your insurance can get you the most coverage (and the lowest premium).

How to bundle

You can lump your insurance into a single policy by getting all your coverage from the same agency. This means that you go to the same brokerage firm for your home, auto, business, and other types of liability coverage. Ask the agents about a combined policy that’s specific to your needs or your industry. They will assemble a competitive package customized to your family and your business. It’s as simple as that! Bundling insurance policies is a good way to get a better price and stay organized by keeping your payments with a single company.

Popular combinations and their benefits

Many people choose to group their home, auto, and life insurance. This just makes sense. Cover your family and personal property with a single policy. A major benefit of bundling insurance policies is the reduced premium. Companies love when you get all your coverage through them. They can offer you a reduction of up to 25% off your premium when you get your coverage through a single brokerage. Many business owners choose to bundle their business policies into something called a business owners policy (BOP). This is a customized package that can include commercial auto, commercial property, farm insurance, inland marine, cyber, craft brewery, or healthcare facility insurance. You can truly customize your coverage to only pay for what you need.

Get in touch with our office for a custom quote to see how bundling insurance policies can benefit you and your business. We’ll make sure you get coverage that protects your assets without paying for stuff you don’t need.