Not having insurance is risky business. It’s an expense that many business owners deem unnecessary, but adequate insurance coverage in times of loss is invaluable. As a small business owner, only you can decide what type of insurance coverage is best for your business. Take stock of the physical and personal property that is essential, and protect your assets with a policy that matches your business’s needs.

Fire, theft, and other emergencies and cause costly interruption to your business activity. Protect your physical business assets with a Business Owner’s Policy or Property Insurance . Additionally, you may want to consider Worker’s Compensation in case employees are injured on the job-check your state’s laws regarding this type of insurance.

All business owners should consider General Liability Insurance in the case of injury to a person or to someone’s property that occurs at your place of business. Entrepreneurs who work in the service sector should also consider Professional Liability Insurance to protect themselves financially against claims of negligence, errors, omissions, or wrongful acts in the performance of their duties.

All business owners should invest in Health and Disability Insurance -unforeseen medical expenses and cause a serious financial burden. Additionally, entrepreneurs with partnerships and businesses that rely on a key employee should consider purchasing Keyman’s Insurance in case that employee becomes unable to work.
Whichever type of insurance coverage you choose be sure that the policy contains all the coverage your business needs.

You can cut down on insurance expenses by avoiding duplicate coverage. Also, use due diligence in evaluating different policies from different insurance providers. It’s essential to read the policy and understand it fully before buying and signing any insurance agreement, as the insurance provider can deny claims if certain conditions are not met on the part of the policy holder.

By: Andrea Stiles Pullas

About the Author:
Andrea Stiles Pullas has written a series of finance related articles. For additional information on similar topics, visit [http://yourmoney.accion.org/]

Car insurance is an important part of owning an automobile, due to the regularity of unavoidable accidents that your insurance would help you to cover. Finding a good company with integrity and fair pricing is also very important. The universal insurance company provides private passenger automobile and commercial insurance products, and is interested in building long-term agent relationships and keeping a good reputation.

Your Auto Insurance Policy
Auto insurance covers your financial loss if you have an accident and also provides liability, property and medical coverage. In the case of property damage your insurance would pay for any damage to or theft of your car. Liability coverage pays for any legal accountability for property damage or bodily injury to others. The medical coverage would pay for any injuries, rehabilitation costs, and sometimes funeral expenses and lost wages.

The insurance contract varies depending on the agreement between you and the company; as agreed in your policy, you pay the premium and your losses are paid by the company. Most states require you to buy some, but not all, of the six different coverages an auto insurance is comprised of. The lender of a financed car sometimes also has requirements. Nearly all policies are from six months to a year, and your company should notify you by mail when you have to pay your premium and renew the policy.

To save money on your insurance policy, be a safe driver. Having a clean driving history means lower rates. You may also be able to get lower rates by taking defensive driving classes or other drivers education courses. Some companies give discounts to students or people with certain types of vehicles. Inquire with your insurance provider for more info.

The Company
The universal insurance company is a reliable source for auto insurance based in North Carolina. A few of the special features offered to agencies through the program include the acceptance of outstanding company payment plans or premium financing, exceptional agency incentive programs and commission, and a full service website for agents. The website includes policy detail, quoting, binding and submission of new business, online payment and endorsement processing.

Universal insurance company offers exceptional service and competitive pricing to those for whom it might be difficult to receive personal automobile insurance because of their previous driving history or the type of automobile they drive. It also provides commercial vehicle insurance policies on a large variety of automobiles and trucks used in business. Universal believes in the independent agency distribution system as the most professional way to understand and meet its customers’ needs.

Get Quotes

By: Steve Mackey

About the Author:
Looking for low cost auto insurance? Get insurance quotes online from companies in your area offering discounts to drivers just like you. It’s easy and FREE! Enter your zip code, press enter, and compare quotes from companies offering great deals on car insurance. Get your quote today!

The Lease Structure That Generates the Most Cash for Your Commercial Property

Commercial properties are characterized through income generated by rents paid by tenants. These commercial properties can be apartment complexes, office buildings, strip malls, retail centers and medical buildings.

The more income a commercial property can produce, the more valuable it is. The true qualifying factor is the net operating income, or NOI, which is income minus operating expenses. Operating expenses include any expense that relates to the actual operations of the property. These can include taxes, utilities, maintenance, and management costs.

It used to be common for the owner to pay the property’s taxes, insurance, and utilities under a full service lease. The tenant would simply pay the rent every month, and the owner would pay the bills. This greatly cut into overall profits, as the owner was using rent income to pay the additional bills.

Savvy commercial property owners and investors soon came to realize that if the tenants are using the property, then they should have to pay for the expenses of keeping it in operation. After all, who is using the water, electricity, trash services and common areas? Not the owner, but the tenant.

Net leases became popular, instead of the full service lease, which required the lessee to pay only the taxes and insurance. The lessor would be responsible for utilities and other related operating expenses. This change in lease structure allowed more profit to stay in the hands of the owner.

Even still, owners took the lease structure one step further. In recent years, and even recent months, both young and old properties are being changed to net-net-net leases, or the triple net lease, where the lessee (tenant) is responsible for paying three of the most important operating expenses: taxes, insurance, and utilities. A true triple net lease is one in which the lessee pays all of the operating expenses, and the lessor simply receives a rent check every month.

This structure of leasing has become very popular, and many commercial properties are making the switch because it greatly decreases the overall expenses, net operating income, and make the property higher performing and extremely more valuable. The lessors may not be happy, as they are now required to pay for the entire property, as opposed to just their living space.

So how does the lessor know how much each lessee must pay? Besides separating the utilities and having each unit’s tenant be responsible for that which he or she uses, the common expenses are divided among all the units according to the total square footage of living space. The larger the unit leased, the more they pay.

In order to put this triple net lease structure into place, and see your income drastically increase, simply put a clause in the contract that the lessee is to pay the operating expenses which will be divided on a pro-rata share, based on square footage usage. Under this lease, the tenant literally pays all common area maintenance which may include parking lot cleaning, parking lot’s electric, the lawn care, pool maintenance, and all other utilities used by the project.

If you feel that your property could better perform by implementing a triple net lease structure, then speak to your lawyer or advisor about rewriting the contracts to include the triple net lease clause. Watch your expenses drastically decrease, and you income rise quickly.

By: Yolanda Bishop

About the Author:
Tony Seruga, Yolanda Seruga and Yolanda Bishop of [http://www.maverickrei.com] specialize in commercial and investment real estate. As of May, 2006, they and their partners are managing over $600 million dollars worth of new projects.