30 min
Insurance for Your Business | The Making Business Fun Podcast #108 The Making Business Fun Podcast
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- Entrepreneurship
Today I'm gonna be talking about health insurance, business owners catchall policies, property and casualty insurance, liability insurance, Worker's Compensation insurance, errors and omissions insurance, business interruption insurance and also auto and life insurance. Fasten your chin straps, it's going to be an exciting day talking about insurance.
Hey listeners: Be sure to check out and bookmark The Making Business Fun Podcast Blog at https://www.ericgoeres.com/the-making-business-fun-podcast-blog.
If you would like to work with Eric Goeres as a coach, head to www.ericgoeres.com.
And don't forget to subscribe. :)
**Health insurance **
Let's start with a bit of a heavy hitter, health insurance. Health insurance is so important because, if you have employees, it's something that they are going to inquire about as part of their compensation package. If you don't have employees, then it's something you need to think about for yourself as the owner of the business. The best advice I can give you from the very start is to shop around. You may have an existing relationship with an insurance company that insures your house, and you can start with them by calling and asking if they offer business health insurance policies. Also, there's plenty of advertisements on TV for national brand insurance companies. Almost all of them will offer some sort of healthcare insurance for business owners and their employees. Again, going to their website, checking them out, getting a quote is a great place to start. One key distinction, however, is that if you are working with an insurance agent, that means they are tied to working with one insurance company for example an agent for State Farm insurance, can only sell you State Farm insurance. However, an insurance broker, works with many many insurance companies, and can really get into the details of what your business needs it looks like and can shop around and get you a policy the best fit your business. How to pit? Well if you have a great relationship with an insurance agent already, you can start with him or her. If you don't, then it's probably not a bad idea to find a local insurance broker that you can start working with and start shopping around. By shopping around, of course, you're going to get a bunch of quotes, and you're gonna be looking at a lot of different prices. The problem with that, however, is that each of these policies will be really complex and detail oriented, and I can get confusing real fast.
Details aside, it's important that you don't get a policy that is too cheap and doesn't cover the important stuff. For example, you need to make sure that the plan covers at least the basics, things such as primary care physician, hospital visits and emergency room and urgent care clinics. Also it should include coverage for catastrophic injury, extended illness, and you really wanna make sure that it covers prescriptions. Actually, you can purchase additional policies or purchase with your primary policy extended benefits such as vision and dental. Of course, the more you buy the more you're going to pay.
Today I'm gonna be talking about health insurance, business owners catchall policies, property and casualty insurance, liability insurance, Worker's Compensation insurance, errors and omissions insurance, business interruption insurance and also auto and life insurance. Fasten your chin straps, it's going to be an exciting day talking about insurance.
Hey listeners: Be sure to check out and bookmark The Making Business Fun Podcast Blog at https://www.ericgoeres.com/the-making-business-fun-podcast-blog.
If you would like to work with Eric Goeres as a coach, head to www.ericgoeres.com.
And don't forget to subscribe. :)
**Health insurance **
Let's start with a bit of a heavy hitter, health insurance. Health insurance is so important because, if you have employees, it's something that they are going to inquire about as part of their compensation package. If you don't have employees, then it's something you need to think about for yourself as the owner of the business. The best advice I can give you from the very start is to shop around. You may have an existing relationship with an insurance company that insures your house, and you can start with them by calling and asking if they offer business health insurance policies. Also, there's plenty of advertisements on TV for national brand insurance companies. Almost all of them will offer some sort of healthcare insurance for business owners and their employees. Again, going to their website, checking them out, getting a quote is a great place to start. One key distinction, however, is that if you are working with an insurance agent, that means they are tied to working with one insurance company for example an agent for State Farm insurance, can only sell you State Farm insurance. However, an insurance broker, works with many many insurance companies, and can really get into the details of what your business needs it looks like and can shop around and get you a policy the best fit your business. How to pit? Well if you have a great relationship with an insurance agent already, you can start with him or her. If you don't, then it's probably not a bad idea to find a local insurance broker that you can start working with and start shopping around. By shopping around, of course, you're going to get a bunch of quotes, and you're gonna be looking at a lot of different prices. The problem with that, however, is that each of these policies will be really complex and detail oriented, and I can get confusing real fast.
Details aside, it's important that you don't get a policy that is too cheap and doesn't cover the important stuff. For example, you need to make sure that the plan covers at least the basics, things such as primary care physician, hospital visits and emergency room and urgent care clinics. Also it should include coverage for catastrophic injury, extended illness, and you really wanna make sure that it covers prescriptions. Actually, you can purchase additional policies or purchase with your primary policy extended benefits such as vision and dental. Of course, the more you buy the more you're going to pay.
30 min