The Difference Between Being Bonded and Insured as a Business

"Surety bond" typed out on paper with a pen pointed at the words and a glasses lens encircling the words.When starting a business, the surety bond process can be quite confusing and might not even be on some business owners’ radars. Business founders are typically quick to purchase business insurance to safeguard their investment, but many aren’t immediately aware of the need for a surety bond. Furthermore, they might not even understand how it differs from insurance. Fortunately, we’re here to help explain the difference between being bonded and insured as a business and under which circumstances you require a surety bond. [Read more…]

Before You Get BOP Insurance: Taking a Business Inventory

Businessman taking a business inventory in a warehouse.Once a business goes from ideas on paper to business cards or from hobby to storefront, it’s time to invest in a BOP – Business Owners Policy. And one of the most important parts of that coverage? Insuring your business’s property. Furnishings, computers, and specialized equipment can all add up, and a disaster such as fire, theft, or flood can end your business without coverage. And one of the most important parts of getting the right BOP is taking a business inventory. [Read more…]

Protect Your Business Against These 5 Common Cybercrimes

A criminal hacking on a computer and committing cybercrimes against businessesAs technology progresses, business operations become more streamlined and organized. However, while technological advancements provide even more security to your business’s sensitive information, it has also changed how cybercriminals operate, giving rise to new methods of infiltration. The losses incurred by your business due to a cyber attack can be catastrophic, especially when the personal information of clients is involved. Let’s review some of the common cybercrimes your business is likely to face and how to protect yourself against them. [Read more…]

How to Sell at a Farmer’s Market

A busy farmer's market set up in the middle of a street with many vendors selling products under white tents.Is your garden producing more than your family can keep up with? Perhaps you’ve mastered a craft that could earn you some extra cash. Farmer’s markets are a popular community pastime, and if you’ve taken a stroll through one on a Saturday morning, you may have considered joining in on the sales. However, before you jump aboard this money-making opportunity, you should understand the steps to setting up a booth. We’re here to help you learn how to sell at a farmer’s market. [Read more…]

3 Must-Have Insurance Policies for Retail Businesses

The interior of a retail store selling various decor, including vases, towels, and mirrors.Many people dream of one day owning a store, and for those who’ve succeeded in this endeavor, it’s become a way of life. With this new business venture, these store owners need to invest in ways to safeguard all they’ve accomplished. Investing in protections that can guard you against the devastating financial impacts of situations like injuries to employees or guests, property damage, lawsuits, or sudden loss of business income is vital to ensuring that your livelihood remains intact. Let’s look at some must-have insurance policies for retail businesses. [Read more…]

Business Insurance: Additional Insured vs. Loss Payee

A janitor cleaning a business' tiled floors with a floor-washing machine, meant to despite someone who is an additional insured.When you’re searching for a new policy for your small business, it can be difficult to wrap your head around all the insurance jargon and terminology. One common area of confusion arises from the terms “additional insured” vs. “loss payee.” At first glance, it can seem these two are the same because you can add both entities to your business insurance and grant them the right to benefits. However, beyond this broad similarity, they’re actually quite different. Let’s discuss the difference between additional insured vs. loss payee and their accompanying rights. [Read more…]