Business Insurance; Information you will need

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Business Insurance; Information you will need

Business Insurance; Information you will need

When you start a small business you will need to have insurance. You would be wise to shop around. Triple A rated carriers like Farmers Insurance, State Farm and All State are definitely places to get quotes from, but also be sure to check out your local independent insurance agents as well. When shopping for a quote there is some things you will need to know. For instance you SIC code and business category. If you are involved in more than one, it pays to look at both SIC codes to see which category is preferred by the agents underwriters. Some SIC codes many insurance companies will not even touch. For instance Car Washes, Amusement Parks, Aviation Businesses and security companies. But there are insurance companies who specialize in these areas. Perhaps you might wish to thumb through a recent trade journal to see which insurance companies are actively seeking clients in those categories. You will be glad you did; also do not forget to check online as well.

You will also need other data when shopping for quotes; you will be asked such things as: Address of Business Office; are you running your business out of a home or commercial location. If it is a commercial office; what is the square feet of business location, customer area. What is the age of the building; is it made of masonry or frame construction? How many floors? What types of business tenants occupy or share the building? The main concern of the underwriter's in some businesses is; where the supplies are stored? Especially if chemicals are used in your business. If you are a mobile service; are the chemicals stored on a vehicle? Where is the vehicle parked.

Insurance agents will also ask you how many years have you been in business? How much experience do you have; what are your projected and current gross annual receipts? How many full time and part time employees do you have? If you have mobile service vehicles you will need the full name, social security number and drivers license number for all employees who will be driving the vehicles. The more current our files, the happier the underwriters and the more information you bring with you when shopping for quotes the happier the agent. Happiness equates to a better deal, more shopping on the agents part and better relationships will all the parties concerned. Think on this when shopping for Business Insurance.

"Lance Winslow" - If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs

In The News:

Yahoo! News: Top Stories

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AP - President-elect Barack Obama intends to name Timothy Geithner, president of the New York Federal Reserve, as his treasury secretary to confront the nation's intense economic turmoil, senior Democratic officials said Friday.

Neb. lawmakers OK age limit for safe-haven law (AP)

AP - Gov. Dave Heineman signed into law Friday a bill adding a 30-day age limit to a safe-haven law that allowed 35 children including teenagers as old as 17 to be abandoned at state hospitals. The law, approved hours earlier by the Legislature in a 45-3 vote, goes into effect Saturday, and makes Nebraska the 14th state with a 30-day age cap. It had been the only state with a safe-haven law without an age limit.

Fla. teen commits suicide with live Web audience (AP)

AP - A college student committed suicide by taking a drug overdose in front of a live webcam as some computer users egged him on, others tried to talk him out of it, and another messaged OMG in horror when it became clear it was no joke. Some watchers contacted the Web site to notify police, but by the time officers entered Abraham Biggs' home a scene also captured on the Internet it was too late.

Federal regulators shut 2 California thrifts (AP)

AP - Federal regulators on Friday shut down two big thrifts based in Southern California, saying they fell victim to the acute distress in the housing market in that state.

Democrats lay out conditions to consider aid for automakers (AP)

AP - Democratic leaders ordered Detroit's Big Three automakers Friday to submit what amounts to a detailed loan application to Congress so lawmakers can decide whether to give the beleaguered industry an emergency $25 billion lifeline.

Bush rallies China's help on North Korea (AP)

AP - In a last dash of diplomacy, President George W. Bush on Friday sought China's help in pinning down North Korea to keep its shaky promises of nuclear disarmament.

Gates would like to add US forces in Afghanistan (AP)

AP - Defense Secretary Robert Gates said Friday he would like to add significant U.S. forces to the war in Afghanistan before national elections scheduled for next year, and that grim depictions of backsliding in the seven-year-old war are "far too pessimistic."

Germany drops attempt to ban Scientology (AP)

AP - Germany is dropping its pursuit of a ban on Scientology after finding insufficient evidence of illegal activity, security officials said Friday.

Suspect arrested for greasy imprints in Neb. town (AP)

AP - Police have arrested a man suspected of leaving greasy, graphic imprints on the windows of stores, churches and schools in a small Nebraska town. A 35-year-old man was caught in the act by police early Wednesday morning, Cherry County Attorney Eric Scott said Friday. The man hasn't been charged yet, but authorities believe he is the vandal some townsfolk have dubbed the "Butt Bandit."

Witness: Vick put family pets in with pit bulls (AP)

AP - Michael Vick put family pets in rings with pit bulls and thought it was funny watching the trained killers injure or kill the helpless dogs, a witness told federal investigators during the dogfighting investigation that brought Vick down.

Obama moves to pick Timothy Geithner for Treasury (Reuters)

Reuters - President-elect Barack Obama on Friday moved toward nominating Timothy Geithner as Treasury secretary and charging the respected head of the New York Federal Reserve with helping pull the United States out of an economic nosedive.

Citigroup talking to U.S. government as shares dive: source (Reuters)

Reuters - Citigroup Inc has begun talks with the U.S. government as its plummeting share price raises doubts about the bank's ability to survive, a person familiar with the matter said.

GM cuts output, jets as U.S. demands turnaround plans (Reuters)

Reuters - Detroit automakers began work on turnaround plans demanded by Congress in return for $25 billion in aid as General Motors Corp said it would cut production more and give up two of its controversial corporate jets.

General Motors board weighs bankruptcy option: report (Reuters)

Reuters - The board of directors of embattled U.S. automaker General Motors Corp is considering "all options" including bankruptcy, according to a report on the Wall Street Journal's website late on Friday.

Wall Street stages late rally on Geithner news (Reuters)

Reuters - U.S. stocks stormed higher in a late rally on Friday to cap another volatile week as investors welcomed reports that President-elect Barack Obama has chosen his point person to combat the U.S. economic crisis, instilling confidence about the administration's ability to take action.

U.S. eyes "surge" of over 20,000 for Afghanistan (Reuters)

Reuters - The Pentagon is considering a plan to send more than 20,000 troops to Afghanistan over the next 12 to 18 months to help safeguard elections and quell rising Taliban violence, officials said on Friday.

U.S. Bancorp acquires deposits of failed Downey, PFF (Reuters)

Reuters - U.S. banking regulators seized California banks Downey Savings and Loan and PFF Bank & Trust late Friday as the housing crisis claimed two more victims from the financial crisis.

Suspected U.S. missile strike kills 4 in Pakistan (Reuters)

Reuters - A suspected U.S. drone aircraft fired missiles in the North Waziristan tribal region of Pakistan killing at least four people, according to Pakistani intelligence officials.

Obama readies economic team as global recession fears rise (AFP)

AFP - The economic team of US president-elect Barack Obama came into view as fears mounted on the global financial crisis and more mass job cuts loomed worldwide.

Bush bows out, China assertive at APEC summit (AFP)

AFP - US President George W. Bush began Friday his last scheduled foreign trip, meeting the leader of increasingly important China ahead of a summit aimed at containing a spiraling financial crisis.

Business Insurance; Information you will need

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