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Archive for the ‘Business Insurance’ Category

I am planning on doind a small job for an apartment complex with myself and a couple friends. Since we will be using a small amount of scaffolding, we are required by the apartment complex to have business Insurance. I was wondering about how much this would cost for about 3 people and about 2 weeks or less. Thanks in advance.

You’re going to pay the same for a "one shot" as you will for an annual policy. The scaffolding will put you in a surplus market carrier, and the "minimum premium" will be the full year, payable in full. When you cancel the policy, you won’t get any of it back.

Expect, if you’re doing an outside job, that this policy will cost you $1500 to $2500. Nonrefundable, but still auditable, so if you do MORE work, they can charge more if you’re payrolls are higher than you originally reported.

We are still in the planning stages of forming our business. We are looking to start an LLC that provides unarmed security guards to various professional business buildings in the Metro Phoenix AZ area. We would like to know a ballpark figure – for planning reasons – of what it would cost to get Workers Comp. Ins. and General Liability Insurance with the coverage in the amount of $100,000 for each occurrence, and an aggregate total of at least $300,000.

Thank you.

First off, I would STRONGLY recommend higher limits than 100/300. I’m not even sure those limits would be available for your type of business. I would definitely recommend 1,000,000 / 2,000,000 limits for the General Liability. Think about it, if someone dies because your people failed to act, or acted negligently, is $100,000 going to be enough to pay off a grieving widow or some poor person’s family?

Security business are a high risk so your agent would need to approach a non-standard market which generally means a lot less competition. In your case, as a new venture, you’ll likely only be able to find one or two proposals to get started.

To give you even a ballpark, we would AT LEAST need to know how many employees you plan to have for the first year. Depending on the General Liability company, your premium will be based on either your estimated Gross Receipts or your estimated payroll. The Workers Compensation premium will be based on your payroll.

Good luck to you!

If you have a successful home based Internet business there may come a time that you think you need to take that office elsewhere – perhaps even on a part time basis. Some people just can’t thrive at their business working from the home office. While working at home is an attractive concept to them perhaps their spouse, children or even pet don’t or won’t understand and are too disruptive to your business. Maybe you find yourself too tempted by the TV in the next room or the refrigerator close by. It’s not that you haven’t succeeded at your home business. It may just be that you’ll succeed more elsewhere, and you’ll keep peace in the home too.

Loneliness can be a factor in moving the internet business from the home. While an office environment may only mean that other business people who run other entrepreneurial businesses are down the hall the knowledge that you’ll run into people with some of the same business issues and conflicts at the copy machine or in the communal break room. It’s often a comforting thought. More comforting than trying to converse with your three year old about your client frustrations. This outside office environment can actually result in more productivity despite the short trip back and forth as the entrepreneur feels less needy for that two hour lunch with the business friend or associate.

As your home based Internet business grows you might grow out of home office space. That’s a common fact. You hire employees, you need more storage or PCs or other equipment. You may have clients that are local and want to stop by “your office”. Once this happens once too often and you get tired of finding excuses to meet them for coffee at the local cafe you start thinking you need a “real” office.

One friend of mine moved his work at home business to an office location when the fax machine kept going off in the middle of the night. Phones can be disruptive at odd hours as well, as clients and business colleagues anticipate getting your voice mail, not realizing they are waking you at home.

As with any business decision – whether home based or large corporation there are cons as well as pros to this decision. The negatives are that you’ll be back to commuting, with its frustrations and time consumption. You’ll have the added expense of furnishings, leasing, utilities and Insurance. Of course, if you’ve had to decline potential clients because you didn’t have the staff or time to complete their project, or your home office space didn’t allow you to house the equipment needed to adequately service them, the decision might be easy. In essence, if the profit expected from the move outweighs the cost of the move, it may be well worth your time, effort and expense to take your home based Internet business to a new location outside your home.

Michael Laleye
http://www.articlesbase.com/home-business-articles/your-home-based-internet-business-away-from-home-108641.html