How Essential Is A Business Insurance To Every Entrepreneur

Rafi Chowdhury — Tue, 12 Feb 2019 10:24:47 +0000

Risk cannot be ruled out in any business. For any business, even small risks can have a huge impact on its growth and durability. This is more important for finance because enterprises do not receive strong financial support due to their nature.

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If you’re a business owner, you need to think seriously about taking insurance policies to protect your business from unpleasant events that cause the financial crisis.

With the continuous development of international trade, sea cargo has taken center stage. Transporting goods between continents is done via ships which carry a large number of containers. Sometimes due to unexpected weather changes, the ship can also lose its cargo at sea or both. This is why Shelly Haymore from ConnectBI.com.au says that getting marine cargo insurance protects you against any property that gets damaged in transit on a ship, thus making it necessary to purchase a Marine Cargo insurance policy.

When choosing an insurance policy, rate and specify the risk that can significantly affect your business. The overall risk for each business includes damage to the business property, life-threatening employees and lawsuits. None of this is a small responsibility that you can afford.

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The main types of Insurance Policies

There are different types of insurance policies covering different types of risks; You can choose one policy or combine several of them to create a consolidated policy covering all the risks that your company may encounter.

The following are the necessary business insurance policies that you may consider:

Business Liability

Your business always faces a third-party complaint. There may be situations in which your business becomes the subject of litigation – the client will come across a torn carpet in the office, the customer gets ill while using the product, an electrical short circuit that causes a fire and damages the owner’s building, etc. These duties usually lead to huge claims In such cases, the presence of liability insurance protects against such risks. Business liability insurance usually covers medical expenses and legal fees.

Property Insurance

You do not want to spoil your company. Do you? Make sure that your business property is properly secured. Property insurance for your small business includes equipment, furniture, inventory and other material assets of the company. Property insurance protects property against damage, theft or loss.

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Auto Insurance

If you use the car only for your business, you need commercial auto insurance. You should get a commercial insurance policy if you have commercial markers on your car. The auto insurance covers the risk of damage to the car as a result of an accident or an act of vandalism. It also protects against claims by third parties in the event of an accident.

Employee Compensation

Another important type of insurance is employee compensation, which covers any injuries that your employees may suffer when during work time. If you use a cashier in your grocery store and she slips and falls on the same wet floor, this policy will cover her medical bills and cover part of her income while she is not working and even cater for co-existing injuries. It is even possible that you will need employee indemnity insurance, even if you do not employ anybody.

Failure to buy insurance will increase the risk of your business. There is no point in ignoring the financial importance of insurance. Developing the right type and scope of insurance is quite complicated considering the various risks for your business.

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Alternative Ways to Commute in Los Angeles

Rafi Chowdhury — Mon, 11 Feb 2019 16:29:54 +0000

Los Angeles is well-known for its extensive traffic problems throughout the day, especially during peak times. Most of this traffic is created by commuters driving to and from work from the array of suburbs centered around the city itself. However, there are ways to become more aware of the transport you are using, making your commute both less stressful and more environmentally friendly.

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Ride the Metro

To avoid traffic congestion in the center of the city, you should use the myriad of public transport options available to you. Although many people entering the city from the suburbs use personal cars for ease of access, the metro lines across Los Angeles service most areas of the city.

However, due to Los Angeles’ size and its lack of viable center, metro lines do not service all of the key areas and you may have to use the bus service if there is not a metro station in your suburb. However, by aiming to use public transport, not only will you be able to travel efficiently and arrive at work on time, but you will also be helping to care for the environment by reducing your petrol usage.

Take a Private Jet

If your commute is less of a daily activity and includes more worldwide travel to meet with clients, then you may consider hiring a private jet to transport you to your job when needed. Not only will private jets help you to arrive at your destination on time and safely, but they also land at smaller airports, meaning that they allow you to avoid large crowds or lengthy queues at customs. Van Nuys Jet Charter allows you to visit Los Angeles for conferences and business meetings without the stress of traffic congestion or crowded airports, allowing you to visit Southern California in peace and in good time.

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Ride a Bike

For the most environmentally friendly way to commute to work, cycling is a good option. Using the best cycling routes help to reduce car exhaust fumes, which give off greenhouse gases that damage the environment. Not only will you be able to avoid the congestion of peak travel times, but cycling can also help to maintain your fitness levels and help you to relax before a lengthy day at the office.

Use the Carpool Lane

If you still believe that using a car is the best way for you to travel to work, you should consider using the relegated carpool lanes spread throughout Los Angeles. These allow you to travel past the traffic congestion of peak times by using a specialized lane for those traveling inside their car with more than one person. You should speak to any work colleagues that live near you and arrange to delegate a designated driver for each day, which will both save you gas and allow you to avoid traffic.

Driving is not the only way to commute in LA. In fact, many of the alternatives are environmentally friendly, easily accessible and more relaxing than your usual daily commute.

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