What Changes Can Effect Your Company Insurance Policy?

Keeping your business protected with all of the insurance needed is our goal at ALLConnecticut Insurance. We know that running a company is not static. Changes are inevitable. Those changes can occasionally effect your insurance policy, so if you have made any of these changes to your business it may be time to update your commercial insurance. We serve the community in and around West Hartford, CT with quality insurance services. 

Changes That May Effect Your Commercial Insurance Policy

  • Significant Change in Number of Employees – If you need to hire new employees or perhaps fire one or some it is important to update your policy to reflect the people who are covered appropriately to make sure that you (and they) are fully protected by insurance. 
  • Significant Increase or Decrease in Revenue –  To make sure you are protected to the fullest extent your limits should be increased as your revenue increases so if things go wrong your coverage reflects your needs. This is also true if you revenue decreases. 
  • Change of Location or an Additional Location – Moving your business is not as simple as just moving the insurance policy. Your new location will need to be assessed for risks and your insurance policy may change with the new location or additional location. 

As a rule of thumb, it is a good idea to contact your insurance agent if you make an alteration to your company that is previously unknown on the policy. This will mean any new equipment, employees, etcetera are fully covered if things go awry. Contact us at ALLConnecticut Insurance for more information. We serve West Hartford, CT, and the surrounding areas. 

Tips for Saving on your Commercial Insurance Policy

A commercial insurance policy helps protect your business from risks such as legal suits, and natural disasters. Here are some tips on how to save on your commercial insurance cover; 

Increase your deductible
A higher deductible implies a lower premium and vice versa. Keep in mind that you will have to pay the deductible before your claim is processed. Therefore, set your deductible to a reasonable amount.

Consider bundling your coverage
Purchasing a policy package that covers multiple coverages and liabilities is often cheaper than purchasing individual policies. This could explain why the Business Owner’s Policy (BOP) is popular among small start-ups. However, find out exactly what you are covered against and find out whether your insurer can customize the package.

Look out for discounts from your provider
Often, insurers offer discounts if the policyholder does not file for claims for a specified period. Implementation of a safe workplace program could also qualify you for discounts. Inquire from your service provider on the various discounts they offer and whether you qualify for them.

Inquire on loss-prevention programs
Most insurers will be willing to advise you on the ways through which risks in your business can be minimized. Such could include introducing a theft-prevention strategy and establishing disaster awareness plans.

Provide a safe working environment
Implementing the safety recommendations from your insurer translates to lower premium rates. Not providing a safe environment or the reluctance to enforce safety regulations shows means that there is a greater risk of workplace injuries hence the higher premiums.

Do you need a commercial insurance policy in West Hartford, CT? ALLConnecticut Insurance has got you covered. Get in touch with us to find out the different commercial insurance plans available for you. You can also obtain a free estimate of your policy on our website. 

When You Need Commercial Insurance

When you own a small business, it is extremely important to ensure that it is properly covered by insurance. For those that are in the West Hartford, CT area, having commercial insurance would be very beneficial. There are several situations in which you will need to have this type of insurance coverage.

Own Property

The first situation that you will need commercial insurance is if you own a commercial property. If you only commercial property, the property insurance component of the commercial insurance policy will provide you with coverage in the event that the property is damaged by a storm, fire, or other calamity.  This can also provide coverage for all contents under the roof, including major equipment.  

When You Have Employees

Another situation in which you will need to have commercial insurance is when you have employees. In the state of Connecticut, all companies that have any employees will be required to carry workers compensation insurance as a part of a general commercial insurance policy. This type of insurance will provide coverage in the event an employee is injured while they are at your place of business.

When You Sell a Product or Service

If you produce a product or service, it would also be a good idea to have Commercial Insurance. Anytime you sell a product, you will be taking on some level of risk that someone could be injured by it. This could open you up to a significant amount of liability. When you have a commercial insurance policy, liability insurance will be a significant part of it and will provide you with coverage in the event you are sued and found liable for an injury. 

For businesses in the West Hartford, CT area, finding the right commercial insurance policy can seem complicated. By working with AllConnecticut Insurance, you can receive the insurance service that you need. AllConnecticut insurance will be able to help you build a policy that provides you with the coverage that you need.  



Does A Touring Band Need Commercial Insurance?

West Hartford, CT is a major hot spot for a variety of bands. If you are in a band and need high-quality insurance, it is important to understand your options. Whether you play in one area or tour, there are several ways that we at ALLConnecticut Insurance can help protect your music band from serious financial loss.

Performing Bands Have Unique Coverage Options

Bands that perform in one town or a specific venue (such as a casino) can purchase some band insurance to protect their investment. This type of insurance will protect their instruments from destruction, provide them with general liability coverage, and even manage certain types of vehicle damage. Qualifying for this type of coverage, though, can often be hard.

Schools Are Often Not Covered

One surprising limitation on this kind of commercial insurance is school-based programs. Just about every type of band-specific insurance policy excludes accredited or sponsored programs. The reasons for this can be somewhat mysterious, but it is important for these bands to remember. As a result, they may need to get education-based or general liability insurance instead.

Touring Groups May Require Specialized Coverage

Band-specific coverage often does not extend to cover bands who tour to make a living. There are several reasons for that, chief among them the difficulty of covering so much equipment moved so frequently. However, touring bands can purchase commercial general liability insurance to protect them from third-party claims, bodily injury, and property damage. If they decide to focus their band activities in a central and non-changing situation, they can then purchase band-specific insurance policies.

Protecting Your Band

If your West Hartford, CT band wants to avoid having to pay to replace all of their equipment, please contact us at ALLConnecticut Insurance. Our commercial policies can protect you from this danger and provide a simple way to keep your band making money.

Does Commercial Insurance Cover Your Personal Car That is Used For Business?

In order to properly insure your business vehicle, you can take out a commercial car insurance policy. This is something that needs to be discussed with an insurance agent to make certain that you are protecting you, and your business from liability.

Commercial Car Insurance:

  • goes above and beyond what a personal auto insurance policy would cover
  • covers situations that would occur related to business traveling and usage
  • covers liability for people who may be employed by your company and are conducting business using a company vehicle
  • covers work only vehicles like dump trucks and taxi cabs

It is tempting to continue to insure your work vehicle under your personal auto insurance policy. DO NOT FALL VICTIM TO THIS TEMPTATION. Though the chances are slim that you or your employer would get into an auto accident, the stress caused by driving without proper insurance is not worth it.

If the car is involved in an accident while it is being driven for work-related purposes your personal auto policy will not cover your liability. Commercial vehicle insurance is designed for the situations that will arise during business travel. Driving without insurance jeopardizes your business and personal revenue. You leave yourself open to being personally sued for damages.  

Speaking with a knowledgeable insurance agent about where the gray areas would be to your benefit. 

Call ALLConnecticut Insurance today at 860-232-7076 to figure out if you need a commercial vehicle insurance policy. If you reside in or have set up your business in West Hartford, CT or the surrounding areas we would love for you to come in to speak with one of our agents today to discuss your commercial, home, life, or auto insurance policy needs. Make your insurance a priority before a mishap arises!    

What kind of businesses need umbrella insurance?

Umbrella insurance isn’t something that is commonly thought about when you’re trying to set up a business, but it can be one of the most valuable coverages that you’ll ever invest in.  If your business falls into any of these categories, then it may be a good idea to look into umbrella insurance.

  1. Manufacturing. Product recalls can easily put a small or medium-sized business in bankruptcy court. Umbrella insurance policies can provide funds to replace or repair damaged products, as well as additional funds to cover any settlement payment. Some policies are even written so that lost sales and other secondary expenses as the result of the recall are compensated for.
  2. Residential Services. Plumbers, electricians, and general contractors are prone to lawsuits due to the dangerous nature of their work and the high number of clients that they interact with.  Umbrella insurance will cover the costs to hire legal counsel, and can even help to pay off a settlement. Keep in mind that every insurance policy is written so that it can be tailored to the specific needs of each client.  That means that your policy will provide coverage limits that make sense for your specific business.
  3. Retail. Odds are you have a lot of money tied up in your inventory and you rely heavily on foot traffic for the majority of your sales. This can make a natural disaster very dangerous for your business.  While other policies may cover physical damage to your property, only umbrella insurance can provide compensation for missed sales and damaged inventory.

If you’re thinking about an umbrella insurance policy for your business, call the professional insurance agents at ALLConnecticut Insurance. They can help you to craft a policy that meets your needs.

Why Commercial Insurance is Important

Starting a business is hard and keeping it financially stable is a long-term struggle. Having commercial insurance is the best way to protect your company from any unforeseen disasters or lawsuits that may disrupt your business.

Common Types of Commercial Insurance

  • Liability Insurance – protects you if someone is injured on your property. If a customer is hurt because of an accidental spill, they could bring a lawsuit against you. You may be required to pay medical costs as well as pain and suffering fees.
  • Worker’s Compensation – gives you protection if an employee becomes injured during working hours. Even if part of their job is to haul heavy boxes, you may be responsible if their back is injured at work. The injured employee could also receive weeks of paid time off and medical coverage for the injury. Without worker’s compensation, your business could suffer if you had to pay out-of-pocket.
  • Property Damage Insurance – can give you relief if your business was damaged or destroyed by fire, flood, storm, or other types of disasters. You work extremely hard to keep your business going and you wouldn’t want an accidental fire to shut you down permanently.
  • Disability Insurance – is optional plan coverage that may help if you become disabled or too sick to run your own business. You may receive partial income while you are disabled.
  • Business Interruption – is an option that would help if you needed to maintain your income in the event of a disaster.

If you need to research a new or existing insurance plan, the independent agents at ALLConnecticut Insurance in West Hartford are available to help. Whether you are a small, medium, or large business, the agents will be able to offer information and plan options for your company.

Does my small business need commercial insurance?

Business owners in West Hartford, CT are well aware of all the things that can go wrong and cause them to lose money.  Fortunately, commercial insurance can help business owners to plan for and control the damages from these disasters.

While nearly every large corporation and business carries commercial insurance to protect itself from natural disasters, employee errors, and accidents, small business owners can be reluctant to purchase this insurance.  Often, they mistakenly believe that this is an expense they can skip in order to save the company money.

In fact, small businesses often need commercial insurance more than there larger competitors.  While large companies can rely on large stores of cash to cover their mistakes and accidents, a small business can be completely wiped out by a small disaster.

It’s also important to be aware of the types of insurance that your business is required to carry.  For help with this, call one of the agents at ALL Connecticut Insurance.  If your business has a company car, they can help you to set up a commercial auto policy.  They will also talk to you about the amount of inventory your business carries, the type of heavy equipment you own, and other factors that can influence how much insurance protection you need.

No matter how careful you are, every business can be prone to natural disasters and accidents.  A bad storm or a single act of vandalism shouldn’t have the power to destroy everything you have worked to build.

If you’re a business owner who is considering purchasing commercial insurance, contact the agents at ALLConnecticut Insurance.  They have years of experience helping business owners find the insurance that is right for them.

Small Business Risk – Are You Covered?

The vast majority of small business owners work extremely hard to ensure that their enterprise is a success. However, failure to evaluate risk ahead of time can sometimes cause a costly issue down the road. Here are three common small business risks to be aware of.

#1: Property Damage

Imagine walking into your location and finding everything either destroyed by a catastrophic fire or vandalized to the point of having to temporarily shut down your company. Or consider a scenario where a large and powerful storm hits your area and causes thousands of dollars in damage. What would you do? Would your small business be able to repair and /or replace all of the items necessary for operations? Property damage can happen at virtually any time, so it is vital that you keep continuous insurance coverage to help you in the event of an unexpected incident.

#2: Interruption of Business

Interruption of business is another risk that all small business owners need to know. Sometimes accidents do happen and it becomes necessary for a company to shut its doors for a little while. Often, this temporary closure allows time for repairs or other circumstances to run their course. This is where a business interruption policy can be helpful. If your business is unable to operate due to a covered claim, you could receive reimbursement for the income lost during that period.

#3: Liability Claims

Liability claims are another risk that could happen to your small business completely out of the blue. These claims include incidents of accidental injury, libel, slander, and any other time where someone other than your employees becomes harmed in one way or another. In most cases, a basic professional liability policy will adequately protect you against costly lawsuits stemming from this type of incident. If you are in a riskier industry, there are a multitude of larger specialized policies you may also consider.

Find out more about protecting your small business against these risks and more. Please contact our team at ALLConnecticut Insurance today.

Can Independent Agents Help Me Save Money on Business Insurance in Newington CT?

Business insurance is for business people who want to make sure their investments are well-protected and can continue being successful for many years. It is the key to secure the life of the business against future risks that you may or may not be prepared for. The problem though is that business insurance is usually expensive, including the policies offered in Newington, CT, 06111.

If you are a business owner and you are searching for business insurance, but you want to save money, you have come to the right place. ALLConnecticut Insurance has independent agents who represent various insurance companies. Our independent agents can give you a quote on different kinds of insurance products. Since they have the connections and experience, they can aid you since they study numerous carriers in an effort to provide you with the price and coverage that match the needs of your business.

As the name suggests, independent agents are independent, meaning they are not tied to a single company in Newington, CT, 06111. They are actually a part of the community and they are your trusted advisors, so you can come up with the best decision on business insurance. Our agents work on your behalf, while aiming to educate you on the most appropriate insurance for your business.

Here at ALLConnecticut Insurance, we understand that you want to save money on business insurance, but at the same time, you want the best for your assets. This is why our independent agents want to help you, so you can have choices. Due to the fact that our agents are not a part of just one insurance company, you can have all the available choices that you need. If you believe that you are ready to make a purchase, give us a call and talk to one of our independent agents today.