Things to Consider When Getting Commercial Insurance

If you are a business owner in Mesa, AZ, then you need to make sure that you have enough commercial insurance.

Required Insurance: What is required will vary by the type of business you have. Workers compensation is required in Arizona if you have employees. Commercial auto insurance will also be required if you use vehicles for business purposes. Your landlord or bank could require that you have property insurance. Vendors you do work for may require general liability protection. An agent at Lifetime Investments can help you determine what is required for your business.

Extra Coverage to Consider: Besides the required insurance for your business, there may be other coverage to consider. Professional liability insurance can cover mistakes your business makes when it comes to services you provide. This is helpful for lawyers, architects, and other service-based business. Directors and Officers liability can be used to protect a company’s officers.

Consider the Deductible: Just like other types of insurance, commercial insurance will have a deductible. Many business owners may be tempted to pick a policy with a higher deductible, but be careful because if you ever do need to file a claim, then the deductible can be more than you can afford.

Read Your Policy Carefully: Policies can vary and each have their own deductible, exclusions, and limits. Business owners need to understand what is included and excluded to ensure there are no gaps in coverage.

Overestimate Insurance Needs: If your business is ever sued, the legal process can be very damaging financially. Even if the lawsuit is dismissed, the cost can still be high in order to defend yourself. Since there are so many people out to sue, it’s best to overestimate your insurance needs.

Contact Lifetime Investments, serving Mesa, AZ, to get a quote on commercial insurance.

3 Tips for Buying Salon Insurance in Mesa AZ

Having your own salon business comes with many rewards. You work for yourself, you establish a presence in the community, and you do what you love. However, it’s vitally important to protect this asset before you open the doors to your first customer. Any business needs to be protected and there is specific insurance you can purchase as a salon owner. This will protect your business, your employees, and your customers. Read on to learn about three important tips for buying salon insurance in Mesa, AZ.

1. Compare Quotes

Depending on the size and scope of your salon, your insurance needs will vary. This is why it’s important to compare a few different quotes before deciding on the one that’s right for you. In the end, you’re looking for the right policy for your particular budget.

2. Bundle Insurance Policies

Since you most likely have other insurance policies, like homeowner’s insurance and auto insurance, it’s a good idea to bundle all your policies under one insurance company. When you do this, the insurance company will reward you by giving you a discount on your premiums, which puts more money in your pocket to run your salon business.

3. Work with a Reputable Agent

To find the best policy at the best price and be sure your salon is protected, work with a reputable and knowledgeable insurance agent serving the Mesa, AZ area. The agents at Lifetime Investments are fully knowledgeable about salon insurance and will answer all of your questions and concerns. They will help you compare quotes, bundle your policies under the right insurance company that best fits your needs, and help you save time and money. Contact the friendly agents at Lifetime Investments today at 480-720-3600.