Dublin, Ohio is home to incredibly successful, global companies such as Cardinal Health, Wendy’s and JP Morgan Chase. But there are thousands of small businesses, from home-based operations to those with 100's of employees, and we think they deserve the same level of attention and advice when it comes to their insurance protection as the global giants receive.
If you think so too, maybe we should talk.
So often small businesses are ignored because… well, they’re small. Or they can’t get the attention of a knowledgeable, qualified Licensed Insurance Advisor because their annual premium is too small.
You deserve better.
You deserve to work with someone who truly cares. Someone who will spend the time with you to understand your business, and then structure a policy specifically designed for you, regardless of how minimal your premium may be.
Here’s what you should expect to review when looking to insure your business:
This coverage is the foundation for nearly every business. If you’re ever working with a client or vendor that requires you to provide a Certificate of Insurance, you will certainly find General Liability coverage as a requirement.
So what does it cover?
There are two types of claims typically covered by the General Liability policy:
A standard General Liability policy (also known as a legal contract) can be as many as 16 pages of legal language telling you what types of claims are covered, and likely more importantly, what’s excluded.
Nearly every business, regardless of type, needs a General Liability policy. However, the cost can vary widely depending on what optional coverages and endorsements you include. A Licensed Insurance Advisor can help you through this process
As a business owner, you have to make decisions every day. Some are easy, some not so much. When it comes to your insurance, you’ll find that certain types of coverage are required to do business while others are more of an option.
The Property Policy often falls into that optional category.
That shouldn’t be interpreted as it’s always optional. For example, if there’s a mortgage on your building, chances are, the bank providing the loan will not look at Property Insurance as optional.
On the other hand, if you’re working out of your house, you might not have a significant need for property insurance.
In addition, the Property Policy is much more flexible compared to the General Liability policy. You can cover buildings, contents within your building, property you have stored at other locations, etc. This is one policy you can really modify to fit your specific needs, and your budget.
When you work with a Licensed Insurance Advisor, make sure they’re using a checklist when reviewing your property exposures with you since there are so many variables to consider with this policy.
Professional Liability, often referred to as Errors & Omissions Insurance, is designed to protect individuals and businesses providing any type of professional advice to their clients.
There are literally hundreds of types of businesses that need this type of coverage, including the following:
And this list just scratches the surface.
Why would a business need a Professional Liability policy?
Any business that’s providing advice or a specialized service to its clients could ultimately be sued if the client suffers damages, whether they’re injured or just suffer a loss of income because they followed your advice.
And since the General Liability policy specifically EXCLUDES coverage for any type of professional services being provided, many businesses need to include Professional Liability coverage to adequately protect their business.
Tip. Professional Liability Insurance is hugely complex with coverage forms that can differ widely from one insurance carrier to another. If your business needs this coverage, make sure you’re working with a Licensed Insurance Advisor that thoroughly understands this type of policy.
You don’t have to look far to find national headlines of a data breach. From Sony to Target, Home Depot to health insurance giant Anthem, breaches occur on a daily basis.
And sadly, it’s happening to more small businesses. Sure, they may not make national headlines, but they often don’t have the resources to cope with a breach, and more than 60% will close permanently within six months of a cyber-attack.
Many businesses believe their data is secure, and some even believe they don’t have any sensitive data to protect. But once they realize that ‘sensitive data’ can be an email address, a birthdate, or even a credit card that was swiped in their office, panic sets in.
So what’s the answer?
Cyber Liability & Data Breach Insurance. When the policy is structured properly, it will not only respond to cover expenses like fines & penalties you face, but it can also cover the cost of notifying your clients of the breach, credit monitoring services as well as the damages to your systems.
Once again, it’s critically important that you work with a Licensed Insurance Advisor that understands these types of policies. The fact is, no two policies are the same and if you purchase the wrong one, you could end up paying premium for a policy that will never respond to your claim.
Let’s face it, insuring your business can be a confusing and time consuming process. However, if done incorrectly, the results could be financially devastating.
The 4 coverages outlined above are just the types of policies that nearly all businesses will need. There are numerous other types of coverages that you might need, such as:
A qualified, knowledgeable Licensed Insurance Advisor will work with you to thoroughly understand your business, and then discuss the types of coverages & policies that make the most sense to adequately protect you... ultimately, providing you peace of mind and allowing you to focus on your business, not your insurance.
And we believe that this peace of mind is not a commodity.
We believe that insurance for your business, and the protection and peace of mind it provides, is more important today than ever before.
We believe that the risks to your business and its future success are just as unpredictable as the rapidly changing world we live in.
In short, we believe insurance matters.
Which is precisely why H&H has been obsessively protecting and caring for its clients since 1920.
We’re honored when clients like Mark Muirhead say “they’re the type of individuals you can count on, and who honestly care about their clients from a business and personal standpoint.”
And with Licensed Advisors located in Dublin, we know how important it is to protect all that’s important to you. We live where you live; we’re not a faceless name hiding behind a 1-800 number or an online ‘claim resolution form.’ If you need us, we’re there… in person.
If you’d like to experience what it’s like to work with a Licensed Insurance Advisor that truly cares about you, and about protecting all that’s important to you, Request a Proposal and we’ll get to work right away on a solution that’s perfect for you.