How to Cut the Cost of Your Small Business Insurance
Every business owner strives to reduce expenses as much as possible, as a firm’s profit is simply the amount of money left over after expenses are added up and the total is subtracted from the company’s income. This is true in all kinds of economic conditions, and applies to every category of business. However, it’s even more important for the owners of small businesses, especially in difficult economic times. If a small business owner wants his company to survive and prosper, he must reduce his expenses wherever he can. One area every small business owner should consider for cost reduction is insurance. Too many people simply pay their insurance bill every month without stopping to consider if there’s any way to lower their premium.
The good news is that there are actually many ways to lower the cost of small business insurance. Of course, coverage will vary from company to company, and firms in high risk industries, or high crime areas, will naturally pay more than firms which don’t face the same hazards, but generally speaking, almost every business person could be paying less than their current premium for insurance. How? Well, there are four ways to substantially reduce the cost of small business insurance. Let’s look at them.
First, the business owner can improve safety in the workplace. This might mean hiring a professional inspector to conduct a safety audit, but the expense is well worth it if it leads to reduced insurance premiums. The average person doesn’t have the expertise to spot many hidden or less well known safety hazards; calling in a professional who does have these skills can pay off substantially. A person should get a safety audit done, make all recommended changes, and then notify the insurance agent of the changes and ask for a reduced premium.
The Role of Personal Injury Lawyers
Personal injury lawyers are people who offer legal representation to victims who sustained injury either physically or mentally in an accident caused by an act of carelessness of someone else. They are also known as accident lawyer or accident attorney. Accident attorney have special knowledge in a type of law called tort law which deals with civil misconducts and damages caused to someone’s assets, social standing and personal rights. It is necessary to know what to do at the appropriate time when accidents occur. In this article, a cursory look will be taken at the role of accident lawyers when you, your family members, colleagues are involved in an accident.
Personal injury lawyers help you to make claims when you sustained serious injuries during an accident. However, when employing an accident attorney, you must be sure that such a person is capable of handling your case effectively. One way to find out is by asking how many cases the lawyer has handled successfully. Accident lawyers must be vast when it comes to the application of tort laws so that they do not lose the case.
Personal injury lawyers assist people who sustained accidents to get claims for treatment especially in a case where there is an argument about who is to be blame in the accident and if the individuals involved in the accident sustained serious injuries. Though sometimes, when an accident happens like that, major internal injuries may not be evident until victims make repeated visits to their doctors. This is where follow up visits is required when victims sustained injuries.
What Is An Auto Insurance Deductible?
An automobile insurance deductible is the sum of money that has to be paid by the individual who owns the policy. This particular amount is generally stated in advance and you can also find the same in the car insurance plan. Deductibles are applicable to two kinds of auto insurances, namely, coverage against possible car collision and the comprehensive type of insurance. Collision insurance protects the plan holder’s car in case of a mishap; whereas, the comprehensive type answers for auto theft, destruction and other types of defacement that are related to extreme weather conditions.
The number of highway and road accidents continuously increase and if you want to be spared from the terrible expenses that are related to auto repairs, the best thing for you to do is to shop for the right company that provides the best deal when it comes to car insurances. Furthermore, there are a lot of natural calamities that occur every now and then. The only way for your vehicle to be protected from all these damages is for you to purchase the most appropriate car insurance plan.
Important Reminders when it comes to Car Insurance Deductibles
1. Check the different highlights of both car insurance policies and declare the appropriate sum for your deductibles. Generally, most people assert a standard rate of $500 as their deductible when paying for their auto insurance plan. However, the owner of the policy can increase or decrease the said amount depending on his preferences.
2. The thing about car insurance deductibles is that it has a great impact on the premium. If you decide to decrease the amount of your deductibles then you can expect to pay a higher sum of money for the policy’s premium. This is actually the reason why several auto insurance holders decide to increase their deductible sums so they can be charged with a lesser amount of premium for their auto insurance.
Would You Buy A Book Called “We, The Lonely People”?
It sounds like a book for losers! Interestingly it was going to be published under the title until the author and publisher decided to rename it “The I got dumped handbook” It was a best seller. Would it have sold so well under the first name?
Headlines or labels are critical to get clients to buy. This is more important than ever with so much competition for the same consumer dollar and the increasing attitude of live for today and not to worry about tomorrow. So in an effort to ram this message home, here is proof from the publishing industry.
Which of these books would you be inclined to consider buying based on the title?
1) At This Point In Time
2) They Don’t Build Statues To Businessmen
3) Before The Anger. These were the work-in-progress titles of actual books.
However when they made the bookshelves the titles had been changed to:
1) All The Presidents Men
2) Valley Of The Dolls
3) Roots.
These sound much more appealing. And to prove it, some books have been published under two or more names. Here is an example. When ‘The Art of Courtship’ was re-titled ‘The Art of Kissing’, sales went up four fold!
So, what about financial services? How does carefully selecting book titles apply to selling insurance products and investments? First, it applies to branding. What does your name conjure up? Is there another one that could capture your client’s imagination more? Second, what about your slogan if you have one?
Which of these two lead letter headlines worked best? The one that opened with ‘An invitation to an investment seminar’ or the one that opened with ‘Managing your own investments, a 3 part course’. The second outperformed the first by three to one.
It’s Your Store
Introduction
Small store retailing gets in your blood. Prior to being in the insurance business, I was the manager of a small store and after a five year pause in the game publishing business, a partner of a small retail store chain. It is good now to look back from my new perspective as an insurance professional and bring forward insights for small retail store owners.
Love What You Sell
My path into retailing started as a holiday job at the Lubbock mall toy store (South Plains Mall – Toys by Roy). This was in my Junior year at Texas Tech (Go Raiders!) and my parents had gone crazy about my first college job (compliant desk at the Lubbock newspaper from 5am to 9am) because I made the mistake of bragging that I was sleeping though my morning classes but still “Acing” them. I applied as a holiday clerk in the hobby area selling model trains, Estes Rockets, plastic models and other fun stuff. The manager, Phil Hixon noticed my work ethic and understanding of model trains (my older brother was a model railroader) and I was kept on as part-time hobby clerk. While completing my fourth year of my Business degree, I evolved into being the hobby section manager of this large specialty toy store. I loved selling hobbies and wanted our customers to have what they needed for their projects and soon took over ordering for the entire hobby area. I was a Business Major focused on retailing studies after all and this was my first time to put my learning into practice. I also embraced selling children’s toys as an additional passion. I was hooked and while I had several large retailer job offers in the Spring of my senior year, my journey was to be toy & hobby retailing because it was what I loved to sell.