Can I Get Coverage if I am a Tenant in the Property Where I Run My Business?

If you own your own company but you conduct business on a rented property, you can still get the business insurance you need. While the owner of the building does have insurance, this is a completely different insurance policy and you will need to carry your own policy as the company owner.

Commercial insurance is available in several types, but you will need only specific kinds of commercial coverage since you are a renter. Liability coverage is necessary even though you are not the property owner. As part of your tenant agreement you typically agree to properly maintain the premises where your company is operating. Thus, if someone is hurt while on the property you as the tenant will be responsible. Your commercial insurance will cover situations like these. You may also make products or provide some type of service from which people could sustain damage. If you do so, then your commercial insurance will also cover these instances.

As a renter you will need to also make sure that all of your company property is covered under the commercial policy. This will be, in many ways, like a renter’s policy for someone who is renting a room in a house. This type of commercial insurance is basically just there to give you replacement coverage for the contents of the building you rent. This will typically include coverage for vandalism and theft.

Don’t leave yourself without the commercial coverage you need. While you may be a renter, you still need to protect your company and your property. Our agents can give you a live quote that compares major carrier policies in just minutes. Call us today to get started!

How does my flood zone effect flood insurance premium?

Finding flood insurance to protect your home in Arvada, CO requires some consideration for the flood zone where you live. The zone can contribute to your insurance premium and may also explain the reason that you may find it hard to find a policy that addresses your concerns.

What is the Flood Map?

A flood zone refers to any area that is identified on a flood map as a potential risk. The map provides details regarding the risk level associated with a particular area based on rivers, lakes, water sources and even the proximity to the ocean.

During a storm, the likelihood of flooding in the area may vary. For example, if you live in a valley, then you are more likely to face flooding than when you live at a higher elevation. The same is true if you live near a river and there is a risk of flooding from the river.

How it Impact Premiums

The map and zone details can contribute to your insurance premium by determining the level of risk and helping the insurance company evaluate the possibility of a claim. A high risk of a claim means that you are more likely to pay a high premium. A low risk based on your location and the zone where you live can mean that your rates will be reasonable. The cost of your policy is often directly related to the level of risk associated with the area.

Flooding is a complicated problem that can impact a variety of homes. Even if you are approved for coverage, living in an area with a high risk of flooding will impact your rates by making you pay more. Contact us to speak to an agent for more details about your options.

How do I offer my employees health insurance?

If you own a small business, you know what a headache it can be to sort through insurance documents while also juggling work permits, business licenses, and the huge stacks of paperwork associated with running your business. The good news is that making employee-health-insurance available to your employees doesn’t have to be a hassle. Here’s what you need to know.

Are you required to purchase insurance for your employess in Arvada, CO?

Small businesses rejoice! According to HealthCare.gov, if you employ fewer than 50 people full-time, you’re not required to purchase health insurance for your workers. You are never required to purchase health insurance for part-time employees, which generally means anyone who works less than 40 hours each week.

What are my options for employee health insurance coverage?

When you’re shopping for health insurance coverage for those who work for your company, you’ll want to research group insurance policies. Small businesses employing fewer than 50 full-time workers are eligible for SHOP (Small Business Health Options Program), which helps small business find affordable group insurance policies.

If you employ fewer than 25 full-time workers, you could be eligible for significant tax credits through the SHOP program. This program also guarantees that you can’t be turned down–and rates can’t be raised–because your employees have pre-existing conditions, or because they’re women.

How can I know if I’m getting the best deal?

Many insurance companies offer group insurance policies. When you’re starting to research your options, contact a local independent insurance agent in the Arvada area and tell them what your budget is and what you’re looking for.

Local agents are one of your most powerful resources during the insurance search; they can evaluate your business’s specific needs and suggest a policy that provides just the coverage you need that fits into your budget.

If my fence falls on neighbors property and there is damage am I responsible?

There are a variety of situations that can cause your fence to fall into your neighbor’s yard. The problem is that you may be held responsible for the damages in certain situations when your fence falls. Evaluating the situation and finding out the reason for the falling fence can make a difference when you are trying to determine the appropriate policy to cover the damages.

Negligence

Any time that the damage was caused by your negligence, you are held responsible for the damages. For example, if you did not check your fence regularly and allowed rot to build up, then you may be held responsible.

Negligence refers to any situation where you could have prevented the problem with basic maintenance. It does not refer to a storm that ripped the fence from the yard and damaged the neighbor’s property.

Other Factors

While negligence is your responsibility, you may not always be held responsible for the damages. A storm, an earthquake or any similar situation can cause damages that are beyond your control. In that situation, the fence is a minor factor and you are not responsible to pay for those damages.

You may not be responsible if the problem was not related to basic maintenance. For example, if a tree root caused the fence to move and the fall was related to something that you could not see or maintain, then you may not be responsible.

Damages to your neighbor’s property may be a concern, but that does not mean that you are always responsible for the situation. There are times when you are not held responsible because the damage was caused by factors that are beyond your control. Contact us to speak to an agent for more details.