Home Business? Why You Need Commercial Coverage

Home businesses need insurance protection just as much as other “brick and mortar” enterprises. Home or renter’s insurance won’t protect your business equipment or provide liability coverage to protect your business assets if a client has an accident and gets injured while visiting your home for business purposes. At Goodman Insurance Inc. we can guide you to the appropriate insurance coverage to protect your Shelton, CT home-based business. Here’s why you need commercial insurance if you’re running a business from home.

Protection for Your Business Equipment

If your home business requires the use of business equipment like computers, printer, fax machine, office furniture, etc., you need business property insurance to protect these assets. Home insurance isn’t designed to protect business equipment or products. If your business equipment gets damaged in a fire or flood due to faulty plumbing, commercial property insurance will cover repair or replacement costs.

Protection against Lawsuits

If you have clients coming to your home for business purposes, you need commercial liability insurance to protect you against accidental injuries clients may sustain while on your property. Accidents happen all the time. If you’re found liable for an accident, a client can sue you for damages. Liability insurance protects your business assets by covering the legal fees of prospective lawsuits.  

If your home business makes products or supplies products to the public, product liability coverage will protect you against damages your product may cause to customers due to faulty manufacturing or design.

Protection for Your Employees

If your home business employs one or more workers, you may need worker’s comp to protect your workers against injuries on the job. Worker’s comp also covers lost wages so your employees will have financial support while recuperating from their accident.

For more information on commercial insurance coverage and costs, contact Goodman Insurance Inc. in Shelton, CT.

3 Types of Commercial Insurance

Running a business requires that you protect this valuable asset with commercial insurance. Getting commercial insurance in Shelton, CT is easy when you use a reputable agent. Read on to learn about three types of commercial insurance your business may need.

1. Commercial Auto Insurance

A commercial auto insurance policy in Shelton, CT will protect both your business and your employees regarding any accident that may occur on company time using a company vehicle. For example, if an employee sustains and injury while using a company vehicle, the commercial auto insurance policy will cover the results of the accident, including any damage to the business property.

2. Terrorism Insurance

If you haven’t heard of terrorism insurance, now is the time to pay attention. This special addition insurance can be added to your standard commercial insurance policy, which does not cover any acts of terrorism against your establishment that may result in losses. In the event of a major terrorist attack, this policy will allow for the sharing of rebuilding your business by the insurance policy and the federal government. 

3. Commercial Property Insurance

This type of policy is used to cover any type of commercial property from fire, theft, and natural disasters. It’s important for any type of business to carry this type of policy. Whether your organization is a manufacturer, non-profit, or service business, protecting your commercial property is essential for the longevity of your business.

To learn more about different types of commercial insurance, contact the team at Goodman Insurance Inc. The friendly and knowledgeable agents will answer all your questions and concerns and help you purchase the right commercial insurance policies for your business. Contact Goodman Insurance Inc. serving Shelton, CT today at 203-924-2515.

 

 

How Commercial Insurance Can Protect Your Business

Commercial insurance can protect your business in Shelton, CT in a variety of ways. It’s important to have a policy that has been customized to meet your needs. This way, you will have the coverage in all areas.

At Goodman Insurance, Inc., we can tell you that there are a lot of different types of commercial insurance policies that can protect your business. However, what makes you unique is critical to ensuring that you have all of the right policies. Leaving a single policy out can end up leaving you extremely vulnerable.

Ultimately, the reason to have commercial insurance is so that you protect your business against financial downfall. If there is a theft, your inventory can be restored. If there is an accident, the insurance will cover the majority of the damage. If someone gets hurt on your property, their medical bills will be covered by insurance as opposed to your profits.

You will want to look at the various types of commercial insurance that are needed. The most common ones include property insurance, liability, and workers compensation. You may also want to explore business interruption insurance as it will provide the necessary income when your business is closed for days, weeks, or months because you cannot get into the building.

If you have several company vehicles out on the road in Shelton, CT, commercial auto insurance is a must, too.

You never want to get into a situation where the insurance company could deny a claim. By having plenty of coverage, you are only responsible for the deductibles. It can save you a significant amount of money and ensure that you don’t have to close your doors because of a lack of funds.

Learn more about protecting your business by contacting one of our independent insurance agents at Goodman Insurance, Inc.

 

Can Life Insureance Save Your Business In Case Of A Tragedy?,

It’s never fun to think about your own mortality. As a business owner, though, to disregard the possibility of an unforeseen tragedy is irresponsible. Not only do you have to protect your business assets, but you have to protect the livelihood of those who rely on you in Shelton CT. You can soften the blow by using a life insurance policy as protection, though. Here’s how your business can be saved with a simple Goodman Insurance Inc. policy.

Personal Life Insurance

What does personal life insurance have to do with business, you may ask.

This standard type of life insurance policy has nothing to do with your business directly. However, it can make a huge difference in the aftermath of unforeseen circumstances.

For instance, in the case of your death, your life insurance policy payout can allow your family members to run your business without interruptions while they figure out what their next move should be.

Alternately, if your relatives are forced to sell your business, they can use the policy coverage to live off of in the meantime. They can also sell your company in less-than-ideal circumstances instead of waiting for the perfect buyer or a better market.

Key Person Life Insurance

If you’re hesitant about mixing business with personal finances, you can invest in a key person life insurance policy.

This type of life insurance is directly tied to your company. Also, your policy can cover multiple people within your company.

A key person policy pays out if a covered member passes away, leaving behind their shares and responsibilities.

This is the best form of life insurance if you have a business partner. Should one of you pass away, your policy would make a payout to your company rather than to the other individual.

The money can be used in any way that’s relevant to the business. For instance, your partner can hire someone to take over your responsibilities. Also, he can use it to cover severance pay and other expenses if he finds it necessary to sell the business.

Are You Ready To Secure Your Business With Life Insurance?

If your small business in Shelton, Ct needs a life insurance policy safeguard, call your friendly Goodman Insurance Inc. agent. He or she will gladly go over your options with you, so you can make the best-informed decision to protect your assets.

 

Spring Cleaning Tips That Positively Impact Your Homeowner’s Insurance Premiums

Spring in the Shelton, CT area is a great time to clear out your living space. But did you know your spring cleaning could also help lower your homeowner’s insurance premiums? Use these tips from Goodman Insurance Inc. for a cleaner, safer home this spring.

  • Clean out the lint hose on your dryer. Dust and dirt get trapped in the folds. When the cycle is started, this debris can get kicked up and land in the engine, which could spark a fire.
  • Change the batteries in your fire and carbon monoxide alarms. Test them to ensure they are working properly. If not, get them repaired or buy a replacement.
  • Inspect the seals around doors and windows. These tiny cracks can allow harmful pathogens into your home. These can aggravate your allergies, encourage the growth of hazardous molds, or make your existing respiratory condition worse.
  • Review your homeowner’s insurance policy with a professional agent to ensure you have the right coverage for your property.
  • Clean or replace your HVAC filters. Keeping a clean filter protects your system’s motors and prolongs the life of your equipment.
  • Have your air conditioning unit professionally serviced. This will prevent the buildup of mold in your air ducts.
  • Inspect your yard for damages caused by winter weather. Repair pits, holes, and cracks in your lawn and cement to prevent accidental injury.
  • Clear your gutters and rain spouts of dead leaves and other debris that can cause clogs. If left unaddressed, this can cause water to become trapped on your roof, which contributes to rotting tiles and other damage.

Goodman Insurance Inc. serves the insurance needs of residents in the Shelton, CT area. Let us know how we can help you prepare for the warmer weather with high-quality homeowner’s insurance.

A Guide to Commercial Insurance

Commercial insurance protects your business from different risks. Businesses face a lot of different risks, depending on the industry, and many businesses interact with the public, which leads to more risk. Businesses should have a variety of insurance coverage plans to help mitigate their risks.

There are different kinds of commercial insurance to consider. An agent at Goodman Insurance, Inc. can help you find the right coverage for your industry. Commercial property insurance will help protect not only the property from natural and man-made disasters but also the equipment and furnishings that are in the building. General and product liability insurance will be useful for those who work in the public sector and cover any compensation costs and legal fees that are needed for third party injury or damage, due to your services, products, or an accident on your premises. This type of insurance is common for every business because it covers a variety of things, including injuries, damage, and legal expenses.

Management and professional liability insurance is useful for situations where there is negligence on the part of the company and the company has failed to deliver the promised results. Cyber liability can also be linked to this and is used to cover any costs that come with having sensitive client data compromised. Workers compensation insurance is required in Shelton, CT and covers any employee’s injuries that happen on the job. Business continuation insurance can cover your business if it needs to shut down during a specific time period. A commercial umbrella policy is for additional coverage if one of your policies doesn’t provide enough insurance protection. Some insurance companies will also provide package policies, so business owners can get a variety of insurance coverage that suits the specific needs of the business.

Contact Goodman Insurance, Inc. serving Shelton, CT to get a quote on commercial insurance. 

 

Does The Upward Trend in Natural Disasters Effect Your Home Insurance?

It has been a rough decade, full of natural disasters across the nation. This makes many people recognize the need for a good homeowner’s insurance policy. It also leaves many wondering what these natural disasters are going to do to homeowner’s insurance in general.  At Goodman Insurance Inc. we want all of our clients in and around Shelton, CT to be up to date on all of the insurance news, and you should know that your home insurance policy may be affected by the upward trend in natural disasters, but not as much as you may fear. 

Change of Risk Maps in Many Areas

The most likely change in your home owner’s policy caused by the increase in natural disasters is changing the risk maps. This may mean different policies are needed even if you did not move. These changes to the risk map are done after much scientific research and could either increase or even decrease your policy needs depending on where you live. 

Increase in Premiums, but Not by Much

There may be an increase in homeowner’s insurance premiums across the nation, and in hard-hit areas in particular. However, the projections are that they won’t increase significantly and it is important for homeowner’s insurance purchasers to realize that the increase has been due for a while. This is not only related to natural disasters. A natural disaster could hit an area of Connecticut, according to the Department of Public Health. This means that the insurance companies need to be ready on their end while homeowner’s prepared on the home front. 

Contact us at Goodman Insurance if you have any concerns about possible changes to your policy, or if you want to upgrade your homeowner’s insurance in preparation for the winter months. We serve Shelton, CT and the surrounding areas with quality insurance services. 

Types of Life Insurance

Are you thinking about getting life insurance? There are several factors to consider before you do that. One of them is the type of life insurance policy that works best for your situation. There are many options to consider. Some life insurance policies have an investment-like cash value, some have expiry dates, and others are best suited for unhealthy or older applicants. If you are looking for life insurance coverage in Shelton, CT, Goodman  Insurance Inc. can help you out. 
 
Coverage Options
 
When most people think about life insurance, term insurance is what comes to their mind. But there are many other life insurance options to consider. Among the major ones include:
 
Term Life Insurance. This is the most common type of life insurance. Most people purchase this coverage because it’s very affordable, but it’s also limited as it covers only a specified period. There’s no cash value build up within the policy and it only offers pure death protection benefit. 
 
Whole Life Insurance. Unlike term insurance, whole life insurance doesn’t have a term limit. It covers the insured for the remainder of their life as long as the premium is paid. This coverage offers both a cash value component and death benefit protection. 
 
Universal Life Insurance. Universal life coverage offers death benefit protection and a cash value component, but unlike a whole life insurance policy, the insured can choose how much of the premium money goes to cash value and how much goes to the death benefit. 
 
There are many other options to consider including Variable Life Insurance Coverage, Variable Universal Life Insurance Coverage, etc. Each type of life insurance policy has its advantages and disadvantages. If you are looking for life insurance coverage in Shelton, CT, Goodman Insurance Inc. is the place to go. For more information on available life insurance coverage options, give us a call or visit our offices to speak to one of our agents.

Why Do I Need Commercial Insurance?

If you are the owner or manager of a business, you know that there are many important decisions that need to be made on a daily basis. One of the most important decisions that you will need to make is when you are considering your insurance needs. While having commercial insurance is an additional expense that you may want to avoid, there are several reasons why you need to have commercial insurance in place for your business. 

Compliance with the Law

If you own a business in the Shelton, CT area and have employees, you will be required by law to carry workers compensation insurance. This insurance will ensure that your employees are protected if they are injured while at work. While this will provide your employees with protection, it also protects you from associated claims. Furthermore, the state of Connecticut does require business owners to carry it.

Protects Property

If you have a property for your business, you will undoubtedly be required to carry a property insurance policy as part of your commercial insurance. The property insurance will be required as either part of your mortgage if you own the property or lease if you rent the property. 

Liability Protections

Small business owners take on a lot of liability every time they serve a customer. When you have a commercial insurance policy in place, you will receive protection against this type of liability and the associated claims.

If you own a business in the Shelton, CT area, you should start your commercial insurance search with Goodman Insurance Inc. When you meet with the team at Goodman Insurance Inc., you will receive a lot of assistance that can help you to pick the right insurance policy for your needs. This will ensure that you and your business are properly protected.

 

Why Both Spouses Need Life Insurance

Life insurance can give your spouse a financial lifeline to hold onto in the event of your untimely demise. When both spouses carry a life policy, married couples can have even greater financial security for their future. This can be especially comforting when you have children or are helping to care for elderly parents. Here are a few ways life insurance from Goodman Insurance, Inc. in Shelton, CT can benefit you and your spouse.  

Funds for Running Your Household

Whether both of you have jobs, or one spouse works while the other stays at home, you both have to be responsible for the cost of running your household. You share the financial burden of paying a mortgage, food, utilities, car loan, etc., in addition to raising a family, if you have children. Your unexpected demise would put your spouse under tremendous financial pressure to carry on.  

When both spouses carry life insurance, there’s less worry about meeting financial obligations. The benefits from life insurance can help cover the cost of childcare, home care, daily bills, paying off debts, and more. Your life policy can provide peace of mind as your spouse knows he or she will have financial help after you’re gone.  

Financial Security for Your Family

If you have a family, you’ll want to ensure they’re financially secure in the event one or both of you were to pass on unexpectedly. By obtaining a life insurance policy for each of you, you can help secure your children’s financial future. Benefits from your insurance policy can help pay for your children’s personal needs, school needs, extra-curricular activities, medical bills, college, etc., so they don’t have to go without. Your children’s guardian will have financial assistance to give your children a high quality of life.   

For information on life insurance options and costs, contact an agent from Goodman Insurance, Inc. in Shelton, CT. We can help you get a quote and get you started on a life insurance policy.