business insurance

[C!LLY]

who do y'all use, and what types of insurances do you have?

[Breezy]

I have Marsh Affinity through PPA

[park]

I have both equipment coverage and liability through State Farm. The few claims I have made have been handled quickly and fairly.

[brad]

I have coverage with The Hartford.

[Shelby Lane]

State Farm. They handle my personal insurance, so it made sense to go with them for business. I have business liability and equipment insurance through them.

[CobyPhoto]

I use Zurich, N.A. for my business insurance. It is very comprehensive, liability, O&E, Business Income Interruption, and thou I use Marsh Afinity for my All-Risk Equipment insurance (PPA), it is actually underwritten by Zurich as well.

Then I have TWIA and Flood Insurance. (You may not have to deal with these! Hopefully.)

If you are doing this for money, I can't impress upon you enough that you carry comprehensive and complete insurance. My studio recently took a hit from Hurricaine Ike and I am dealing with $$$ damage and repairs to the studio. I STILL do not have electricity to my studio. You wonder why you pay until you have the first time you have to depend on this expense!

If it were not for the Business Income Interruption insurance, I would not be able to pay my employees, rent, utilities and continue to serve my clients during the repairs on my studio!

Note, I am not a big fan of any inusrance company out there. I think they are scam artists in disguise. They are quick to take your money, but extrememly slow to pay and will try to find ANY way to not pay. But that is another discussion...the point being, KNOW what you are paying for. Ask, ASK and ASK more questions before you pay for the policy.

After having to deal with them numerous times, I find the larger, commercial firms such as Zurich have much better track records and understanding of small business needs than consumer based firms.

CJ

[PictureCow]

I also use Zurich. They were the best price for the amount of coverage I was looking for. I have a great agent if anyone is looking for insurance help!

[Jeff Lane]

Note, I am not a big fan of any inusrance company out there. I think they are scam artists in disguise. They are quick to take your money, but extrememly slow to pay and will try to find ANY way to not pay. But that is another discussion...the point being, KNOW what you are paying for. Ask, ASK and ASK more questions before you pay for the policy.
CJ

Amen, Coby, Amen! It's all a racket, with the insurer promising all kinds of payments to help you out in a crisis, then when the crisis hits, they'll look for every imaginable (and unimaginable) reason to get out of paying what they promised. Furthermore, there's a special place in hell for their lawyers. (Is it getting warm in here?)

BUT -- note that this comment comes from a guy who has admitted to having all kinds of insurance. As much as we hate it, and as big a pain in the behind it is to collect on a claim when you need to, it's still absolutely necessary for you to have enough insurance, AND ALL THE RIGHT KINDS OF INSURANCE, when you really need it.

The tip I give to all my clients is to find a good agent who will: (1) sell you what you need to protect your real liability risks in case someone sues you for some harm they think you caused them (a CGL or similar policy); (2) sell you what you need to put you back on your feet if something bad happens to you (property protection, long-term disability, business interruption, errors and omissions coverage, etc.); and (3) tell you that there are some kinds of insurance you don't really need (whole life instead of term, $100,000,000 of liability coverage when the most you could ever hurt someone at your line of work would be $3,000,000, etc.).

So, go find that honest guy, and be prepared to pay him what he's worth (which, by the way, is almost always more than what you think he's worth until you really need him).

Good luck, and good business,

Jeff