How Often should you get an Auto Insurance Quote?
Experts recommend shopping for a new rate every six months or a year.
The car insurance industry is highly competitive and companies often change rates from year to year. Not only that, new discounts could be available at any time. It's the best way for insurance companies to create a competitive advantage.
Getting an auto quote every year gives you the opportunity to save money on your policy by taking advantage of the lowest rates and also the potential discount offers that become available.
How Often should you get a homeowners quote?
Homeowners insurance is a little more involved than car insurance.
Because home insurance covers the value of replacing your home and the things you value inside of it. Because of how much home values can change in a short period of time you don't want to go very long before you shop your rates.
You home can increase in value based on a number of factors but the most common things you need to consider are:
Even without making any big purchases or doing any upgrades to your home, the value of your home (and it's replacement cost) can change based on the cost of materials (like lumber, wiring, labor, etc) and also based on your local housing market.
At minimum, you should get a homeowners insurance quote every year to 18 months. This will help you protect your investment.
(*Note: you may also want to get a homeowners quote if you change your auto insurance company. They could offer a greater discount when you bundle your home and auto insurance.)
How often should you shop for business insurance?
Getting the best rates for Business insurance is all about staying diligent. Not only do you have to consider how your insurance effects your business but you also have to consider the opposite...
How your business can effect your business insurance policy
Every time there is a change in your business, no matter how big or small, it can effect your business owners policy. If you hire or fire employees, make a purchase of business property, if your revenues significantly increase or decline, all of these things can change how much you pay to insure your business.
(No wonder 75% of businesses in the US are under insured!)
Staying on top of your business can help you stay ahead of the curve on your business insurance. Depending on your business, you should review your policy at least every 6 months.
Tips for shopping for insurance
There are a handful of things you can do to make sure you are properly insured while also getting the best rates possible.
The Bottom Line:
Shopping around for insurance can help you get better rates as long as you are not sacrificing coverage on your new policy.
Today's high tech world is only moving at a faster pace and with it comes the risk of cyber attacks. Being hacked is no laughing matter and can put your business and personal life in danger.
For example, did you know that 60% of businesses that were victim of a data breach are closed within 6 months? That's just how harmful these hackers can be.
AmTrust recently put out an article to address these issues so that you know exactly how to handle being hacked should you ever find yourself in need.
Contain The Breach
Doing your best to preserve evidence is critical to assessing how the hackers got into your system and, most importantly, who the hackers are. In this time it's important not to delete anything.
Following these steps will help you limit the risk of a cyber attack in the future.
Assess The Breach
In the example of a business getting hacked, it's important to see just how far the damage reaches. Do your best to find out as much as you can about the effects of the breach.
Who has access to the infected servers, which network was it on and how was the attack initiated? If you can answer these questions by checking out the security data logs then you may be able to protect yourself moving forward. If you have any issues finding your security data logs, you are best to hire a professional to get access for you.
As always, having access to know who was affected by the breach will help you contain it. It's also very important that you use the breach as a teachable moment so that your staff is educated on your companies protocols for handling cyber attacks.
Manage the Fallout
This is the time to contact all of the involved parties. Notify your managers, employees and customers about the breach and let them know about the situation.
If you have cyber liability insurance, notify your insurance carrier. Cyber liability insurance is designed to help you recover from a cyber attack so you don't end up in the 60% of businesses that close their doors within 6 months of a breach. Having the right cyber liability insurance can help with costs associated with addressing future cyber incidents.
If you don't have a cyber liability insurance policy yet, get an online quote to get covered.
Today's post was originally published on Toasttab.com.
The writer, AJ Beltis, gives some good insight into how to solve those nagging issues that most restaurant owners face. The content here has been slightly modified, so if you want to see the original post be sure to check it out here.
What keeps you up at night?
This is a complicated question - especially when asked to someone working in a restaurant industry.
"Is it finally time to let Sam go?"
"Why are our sales slumping all of a sudden?"
"Did I order enough chicken for the week?"
You name it - there are a slew of thoughts that keep restaurateurs tossing and turning all night long.
We reached out to a few of our fantastic customers - restaurant owners and professionals just like you - and asked them a simple question: What restaurant concerns keep you up at night?
As I read through the responses, common themes became evident and similar issues arose. The silver lining, however, is that many of these problems can be solved.
Here are five of the biggest problems that keep restaurant owners up at night and some resources you can employ to help you sleep tight.
1) "What in the world do I do about my staff?"
Jonathan Schroeter of IL Primo's Pizza & Wings answered the question of what keeps him up at night with the following response:
"Staff Retention - Who is going to quit on me tomorrow without giving a notice?"
Jonathan wasn't the only restaurateur stressing about staff. Far and away, concerns over restaurant staff were the most common in those that we heard from.
More than half of those who responded mentioned scheduling, retention, and/or shift management as something that keeps them up at night.
This issue doesn't just plague our respondents. The turnover rate in the hospitality industry sits at over 70%, which seriously impacts restaurant operations.
2) "How can I boost my sales?"
Julie Stark from Mongers Market + Kitchen told us the struggle of increasing business is one of her stress-inducers, while Elena Dellutri of Ye Olde Falcon Pub is always crossing her fingers for a very busy night.
The good news is the restaurant industry is doing well. Sales have grown for the past seven years, which means Americans are going out to eat more often. However, with more than one million restaurant locations in the country, it's easy for your restaurant to be seen as just another player in a very big game.
3) "How do I increase customer satisfaction?"
Greg Schmitz, Owner of Palm Greens Cafe, lists customer satisfaction as one of his late-night thoughts.
In fact, it seems like everyone's concern revolves - in some way - around customer satisfaction. After all, a bad meal, a sour interaction with a staff member, or finding out a favorite meal can't be made because you ran out of beef all impact customer satisfaction.
Customer satisfaction is intertwined with nearly every aspect of your restaurant. In this industry, dissatisfied customers typically means no customers.
4) "How the heck do I do inventory?"
One night, Michelle Tapscott from J-Mack BBQ woke up in a panic because she forgot to place her inventory order. Talk about an inventory nightmare!
The logistics of running a restaurant are never easy. Jazmin of Campbell of Flour Bakery + Cafe spoke of the struggles of invoicing and scheduling - something no restaurateur can honestly say they enjoy.
Specifically, inventory is an enormous area of concern for restaurant owners. Variance, spillage, and theft lead to the unaccounted loss of inventory, which negatively impacts your restaurant's bottom line. Tasks like these aren't easy, but they can be made easier if you understand how to perfect your systems.
5) "Where can we save money?"
When Joe Guenther from O'Maddy's Bar & Grille rests his head at night, he can't close his eyes without asking himself, "where can we save money?"
Expenses in restaurants add up quickly. There's food & beverage inventory, employee wages (and overtime), cleaning fees, kitchen supplies, and utility costs...just to name a few.
Because of the competition in restaurants, many are operating on thin margins as it is. With food prices rising continuously, there needs to be a way to save money in restaurants - but how?
Thanks for Reading!
Share your thoughts on what you will do to stop stressing about these things...
As of April 9, 2018, All of the states within the reach of Ferguson Insurance Center have either legalized, provided affirmative defense for, or have a bill written to introduce medical marijuana.
As a contractor, this means that certain injuries or ailments that some injured workers have faced could be using marijuana as medication in the near future, if not already.
How does this effect your business? Will these "medicines" be covered by Workers comp?
There are three key questions workers compensation insurers have been contemplating when it comes to the states that are adopting laws that grant permission for use of marijuana.
These seemingly simple questions are giving insurers very complex problems. To understand what's likely to happen in our states we look at how things are going in the current states where there is legal pot, either medically or recreational.
Firstly, knowing that weed is Federally illegal means that, at least for now, Medicare and Medicaid Services will continue to require that its health care providers operate in compliance with federal law. Plus, marijuana can't be given a National Drug Code for the same reason.
One major example of what we could expect is Hawaii Employers' Mutual Insurance Co. which recently decided to cancel all workers compensation policies for medical cannabis dispensaries in Hawaii.
However, some states have approved workers compensation reimbursements under workers comp coverage. As a matter of fact, at least five states have required workers comp reimbursement, while only two states have passed laws that explicitly that medical marijuana is not reimbursable for workers compensation.
One of the huge factors to the pressing issue of medical marijuana and its legalization is the fact that Opioid addiction and overdose has reached epidemic levels over the past 10 years. WorkCompWire cited a 2014 report that says three in four "injured workers are prescribed opioids for pain management".
Anecdotal evidence is available to support the use of Medical Marijuana over Opioid medication, but getting real science behind these claims can be difficult because of the strict controls placed on the research of the plant.
So with so much of a mix of results, it seems like workers comp coverage will remain limited until it is federally accepted, which may or may not ever happen. Until then, state courts will continue to write laws that workers compensation insurers will have to watch and navigate.