Having Business Insurance can Save You Money, Time, and More

Insurance can be a sore subject with some; it is definitely for one of those “what if” scenarios. If you wind up getting hurt, you will be glad to have medical insurance. 

Of course, it is possible to never have to use it and it just cost you money, but it is often regarded as being worth it. At Linton and Associates, we believe the same for business insurance and we have a local story to back it up.

A Reason to Have Business Insurance

A New Mexico state building was recently discovered to have an asbestos problem. Luckily, it was not life threatening. However, if you know anything about mold and such, asbestos is all around bad news and really could have endangered the lives of the 200 employees in the building. Luckily, it was discovered and is now scheduled for renovation.

Here’s the catch: the renovation is going to cost around $18 million. That is a lot of money and while the damages might not be as high with a local small business, it would still be a massive problem. So what do you do?

The Benefits of Business Insurance

Like other insurances, business insurance is important for those situations that, if they happened, could prove devastating.

 No business wants to have a day so bad that they get stuck repairing thousands of dollars in damages. 

However, it could happen and that is why we suggest all business owners get protection through business insurance, so that if what happened to the state building happens to them, they will be prepared.

Business insurance can protect you from all sorts of unwanted problems that tend to just happen with the age of a building not to mention the possibility of natural or unnatural disasters. 

All of these things maybe unlikely or considered to be a one in a million chance, but they can still happen and it is always best to be safe than sorry. 

Linton & Associates recommends that all business owners, local or not, call their local insurance provider and inquires about business insurance as it really could save time, money, and quite possibly even your business.

It provides peace of mind and has you prepared should anything occur. Thinking about the massive storm that is set to East Coast, this is a perfect example of something that could wipe out a business in less than 24 hours. 

That’s why it is important to have some type of business insurance to ensure your business can recover without the costs and damage weighing on your mind.

How Kids will be Impacted by Affordable Health Care Act

Over the past few weeks, we have discussed the Affordable Health Care Act and tried to break away from the media’s normal approach of either praising or criticizing, aiming instead for a balanced approach that presents all sides and ways that businesses and people will be affected.

In the fourth part of our series, we are going to talk about something that has undoubtedly been on everyone’s minds, as it has been on ours too. How will this Affordable Health Care Act affect our children?

Good for the Children

Whether you hate it or love it, if you have kids, then you are going to love this. One of the main things there have been outcries over with the Affordable Health Care Act has been the health care tax that will be implemented come 2014. When that time comes, if you don’t have health insurance, then you will have to pay a tax that will increase significantly over the course of two years.

Many people must be thinking how unfair that is to our youth that our struggling to get by in this economy, well apparently so were big men in charge when they wrote the bill. 

Parents everywhere should rejoice for your health insurance will now cover your children until they are 26 years old.

This extra time is perfect for your child to get a job that offers its own health benefits and to stay insured while they go through college or trade school. 

Also, when you take into account that the bill is encouraging and enticing employers with major tax incentives to offer healthcare to their employees, one can be reassured at how easy it will be for little Jonny to get himself insured.

Other Benefits of the Bill

Your children can now be covered under your employer’s health insurance benefits as long as you employed. The government is issuing very nice tax benefits to companies that take on or already offer health insurance to their employees.

It is now easier than ever to get health insurance through a variety of processes. There are various government aid programs that are perfect for the struggling student or young person that falls out of the 26-year old age bracket and, of course, many other families will qualify. Prescription prices are dropping dramatically, also making things easier on people of all ages.

So, whether you like it or not, the bill is here and the changes are being made every day. Nothing is perfect, but it could always be worse. 

With the Affordable Health Care Act passed, millions of Americans, including their children, will be able to enjoy healthcare when they didn’t even dream of affording it before.

Start-up Advice: Minimizing Risk with Business Insurance Products

Starting your own company can invoke a lot of emotions -- anxieties, excitement, and even fear. It can be a joyous and happy experience, but it can also be very stressful. After all, it's your company and your idea on the line – and sometimes it’s even other people’s money that is hanging in the balance.

The choices you make ultimately decide on whether your ship sinks or sails on. If you do stumble, keep going as you can learn from your mistakes and do better on the next attempt. However, there are also things you can do now to minimize the risk of failure.   

When in control of everything, you are faced with a whole lot of decision making that can mean success or failure. No pressure, right? From the original idea to company formation to hiring and purchasing, there are numerous decisions on a daily basis. Each of these decisions needs careful thought to make sure that you are doing something that will help your business succeed.

The Insurance Umbrella

A key area you can exploit is one that can provide some of the best safety nets should anything ever go wrong – and that’s insurance. Sometimes, small businesses opt to go without insurance like health insurance, liability insurance, or property insurance to save a few pennies.

However, those pennies saved now could actually mean the end of your business in the near future should anything go wrong.  From fleet insurance for your company vehicles to casualty insurance and worker’s compensation, you want to make sure that you have all the potential risks covered. This will ensure business continuity and sustainability throughout anything that could occur.

Beyond just covering any unexpected crises that pop up, it is good to offer a cadre of benefits for the talent you are relying on to help your business thrive. If prospects know you have excellent health insurance and similar benefits, they may be attracted to working with your company.

You are Not Alone

Starting a business can be scary, but you are not alone. You can seek advice on start-ups from many experts out there, including everyone from those that invest in your company to mentors and professional business consultants to insurance brokers who can set up the appropriate amount of insurance coverage for your business needs and budget.