If you want to open a window restoration company then you should consider what type of insurance policy should a sash window restoration company have. Even if you are the only person in your start up company, you should get an insurance. This can offer you protection in case of liabilities.
There are four fundamental insurance coverages which a firm must provide. These include: workers compensation, auto insurance, casualty or property coverage and general liability coverage.
Worker compensation or salary policy covers salaries lost if an employee is injured while doing his job. This also covers the medical expenses of the injured employee. This insurance is a requirement in all 50 states. There are two components for the insurance. First is the medical bills and salaries lost of the employee. Second is for the employer liability in case the injured employee or spouse will sue the company. There is an optional component to workers compensation insurance and this covers practices liability such as sexual harassment lawsuits.
Business owners may not be covered by the policy. You should see if your insurance pays for you. If not, you will not receive money in the event you get injured while working.
There are several things you can do to lower your premium payment of insurance. One is to ensure that the company has clean safety record. This means following the rules of Occupational Health and Safety Administration religiously.
Proper classification of all jobs will cut your insurance expenses. The risk of injury while in the workplace is a factor in the insurance agencies ratings.
General liability coverage pertains to accidents and injuries that happen within the workplace. The workplace for a window sash company is in the different homes where the sash windows are installed. The insurance covers any claim for damages. You may opt for additional coverage in your policies. For example, a coverage on errors and omissions. This will pay for the sash window firm errors by omission.
Car Insurance. This is vital if you use cars in the company. To lower your premium payments, increase the deductibles. However, be ready to pay for the deductibles if accidents arise.
Property/Casualty. An all-risks coverage is necessary for business. This type of coverage can pay for all kinds of dangers such as snowstorm, bombings or fire. These are the factors to take into consideration when deciding what type of insurance policy should a sash window restoration company have.
There are four fundamental insurance coverages which a firm must provide. These include: workers compensation, auto insurance, casualty or property coverage and general liability coverage.
Worker compensation or salary policy covers salaries lost if an employee is injured while doing his job. This also covers the medical expenses of the injured employee. This insurance is a requirement in all 50 states. There are two components for the insurance. First is the medical bills and salaries lost of the employee. Second is for the employer liability in case the injured employee or spouse will sue the company. There is an optional component to workers compensation insurance and this covers practices liability such as sexual harassment lawsuits.
Business owners may not be covered by the policy. You should see if your insurance pays for you. If not, you will not receive money in the event you get injured while working.
There are several things you can do to lower your premium payment of insurance. One is to ensure that the company has clean safety record. This means following the rules of Occupational Health and Safety Administration religiously.
Proper classification of all jobs will cut your insurance expenses. The risk of injury while in the workplace is a factor in the insurance agencies ratings.
General liability coverage pertains to accidents and injuries that happen within the workplace. The workplace for a window sash company is in the different homes where the sash windows are installed. The insurance covers any claim for damages. You may opt for additional coverage in your policies. For example, a coverage on errors and omissions. This will pay for the sash window firm errors by omission.
Car Insurance. This is vital if you use cars in the company. To lower your premium payments, increase the deductibles. However, be ready to pay for the deductibles if accidents arise.
Property/Casualty. An all-risks coverage is necessary for business. This type of coverage can pay for all kinds of dangers such as snowstorm, bombings or fire. These are the factors to take into consideration when deciding what type of insurance policy should a sash window restoration company have.
About the Author:
A sash window renovation service does a valuable function for the community. It is still important as a sash window restoration business owner to obtain insurance coverage to protect the company from financial loss.
