Tag: #thewrightcoverage

Being properly insured is a crucial part of running a strong, stable business. But nobody wants to pay more than they should. Getting the right coverage at the right price keeps your business protected and can help your bottom line. Feel like you’re paying too much in premiums? Here are five tips that can help you lower your insurance costs.

1. Raise your deductible.
   Just like health, property or auto insurance, the quickest way to lower your premiums is to raise your deductible – or the amount you’re responsible for paying when you file a claim for an accident or other event that qualifies for coverage. Just make sure your business can afford to pay that deductible amount up-front if a claim is necessary.
2. Combine your coverages.
   Because of the complex range of exposures that each business can have, you’ll likely need a number of different coverages to protect the business operations. Property, general liability and commercial auto are just a few business insurance options that may be considered. Combining these coverages under a single policy can be more cost effective than purchasing them separately. BOPs tend to be an ideal insurance solution for small- to medium-sized businesses. For a larger or more complex business, you can purchase a Commercial Package Policy which is tailored to your specific business insurance needs. If your business requires specialty insurance that’s not standard in a BOP or Commercial Package Policy, then you may need to purchase endorsements or a separate policy to meet that insurance coverage need.
3. Take safety seriously.
   Create a safety plan and enforce it. Give your employees a copy of the plan and make sure they can put it into action. A safety plan can not only help eliminate problems that turn into accidents and injuries, it also gives your insurer greater confidence in you. When done right, a good safety program helps your business reduce losses and lower your workers’ compensation and general liability premiums.
4. Create an un-risky business.
   Take advantage of your insurance agent’s risk control expertise. Whether it’s a theft-prevention program or human resources training, using risk control experts lets your insurer know that you’re a business owner who’s committed to safety and loss prevention. And to your insurer, it also means you’re likely to file fewer claims – and they might be willing to lower your premium if you institute their suggestions.
5. Inform Brandon.
   Meet with Brandon to discuss your coverages and how they match up with your business. As your business changes – so should your insurance policies. Sometimes coverages can be redundant or perhaps you’re still paying to cover a part of your business that’s significantly different than it was when you purchased the policy. Make sure you’re only paying for the right coverage and saving money while you’re at it.

#thewrightcoverage

References
1 – Business.com
2 – Thebalance.com
3 – Quickbooks.com

Let’s Keep Our Lawns – and Ourselves – Safe!

For many of our neighbors, summer means more than sunshine and vacations. It also means working in the yard – often with tools that can be dangerous if not used properly.
Each year about 400,000 people are treated for injuries from lawn and garden tools, according to the U.S. Consumer Product Safety Commission (CPSC). Don’t let your landscaping efforts land you in the hospital! Follow these handy safety tips.

Tool safety tips from the U.S. CPSC:

• Dress appropriately. To protect yourself from debris when using lawn tools, wear eye protection, long pants, long-sleeved shirts, close-fitting clothes and no jewelry. Sturdy shoes are recommended, and ear plugs may be appropriate depending on how loud the device is.
• Before starting, remove objects from your work area that could cause injury or damage, such as sticks, glass or stones.
• Keep children indoors and supervised at all times when any outdoor power equipment is being used. Never let a child ride or operate a garden tractor or riding mower, even if the child is supervised. And never assume children will remain where you last saw them.
  Use extreme caution when backing up or approaching corners, shrubs and trees.
• Teenagers using power equipment should always be supervised by an adult.
• Handle gasoline carefully. Never fill tanks while machinery is on or when equipment is still hot. Of course, you should never smoke or use any type of flame around gasoline or any gasoline-powered equipment.
• Do not work with electric power tools in wet or damp conditions. For protection against electrocution, use a ground fault circuit interrupter (GFCI).
• Be sure that extension cords are in good condition, are rated for outdoor use, and are the proper gauge for the electrical current capacity of the tool.

Lawn Chemical Safety Tips from Texas A&M University:

• If you use chemicals to control weeds or pests in your lawn, read the product label carefully so you understand the potential effects on humans, animals and the environment. Follow all instructions.
• Keep children and animals away from the application area, and protect your skin, eyes and nose during and after application.
• Remember, use only the recommended amount. Using more of the chemical will not do a better job.
• Ask yourself if you truly need to use a general pesticide. Is there a product that will specifically treat only the problem you need to solve?

From all of us at The Wright Insurance Company, here’s to keeping both you and your lawn healthy this summer!

The Wright Insurance Company was well represented last Friday evening at the Indianapolis Zoo’s annual black-tie fundraising event, Zoobilation! Jena and I were proud to be part of the Zoo’s largest single-day fundraiser. The money raised through Zoobilation helps to provide food and care to the Zoo’s 1,200 animals and 34,000 plants, as well as funding for local and international conservation efforts.