Is Your Restaurant Prepared for Loss of Income Due to an Accident?

Are you a restaurant owner? What if you had an accident that would require you to close your doors for an extended period of time. Are you prepared for that loss of income?

Business income coverage can provide you with the funds necessary while repairs are made. We’re here to help you determine the amount of business income to cover using a break down of elements of the business income and outlays as well as contingency plans. This will help us determine the proper and allowable amount of coverage. My name is Travis, and I am a commercial lines agent here at Stromsoe Insurance. Give me a call at 951 600 5751.

Thank YOU for the opportunity to serve and protect you, your loved ones and everything you work so hard for. What more can we do for you?

Who is the Next Winner in the 2020 Vision Referrals Program?!

Mike Stromsoe – the Insurance Doc and Teammate Travis McMillion are ready to draw the next WINNER in the 2020 Vision Referral Rewards Drawing … And The Winner IS… Daneen Ashworth with Compass HR!

If you know someone who could benefit from our insurance programs, please have them call 951-600-5751 or email insure@siaonline.com and make sure they mention YOUR NAME! You automatically WIN gift cards, prizes AND a donation to your favorite charity! With our 2020 Vision, we will Inspire Happiness in your referrals! If you would like to learn more about the 2020 Vision Referral Program, please visit https://siaonline.com/referral-rewards-program/

YOUR Total Protection Team would like to thank all of our awesome Clients and friends for your kind referrals to our team – Grateful for YOU!!

When Should You File a Homeowner’s Insurance Claim?

When you’re a homeowner there are things that may break or damage you may come across, these things happen. There is a difference between regular maintenance and needing to file a homeowner’s insurance claim. Filing a homeowner’s insurance claim can negatively affect you and may even lead to a non-renewal of your insurance policy.

Some possible consequences for filing unnecessary or multiple claims can be:

  • rising premiums,
  • policy cancellations,
  • or difficulty finding coverage with another company.

 

Reaching out to your agent first provides you with knowledge and resources to ensure you’re making the right choices. As your local Independent Insurance Agency, our team works for YOU, not the insurance company.

Some situations where it’s in your best interest to avoid filing a claim are:

  • repairs that cost less than your deductible,
  • damages that are relatively minor,
  • and claims caused by poor maintenance on the homeowner’s part.

 

Thank YOU for the opportunity to serve and protect you, your loved ones and everything you worked so hard for. What more can we do for YOU?

 

Questions? Want to learn more? Here’s 4 easy ways to reach us:

Phone: 877.994.6787
Email: insure@siaonline.com
Text: 951-482-8144
Web: www.siaonline.com

PS Here’s a few words from people that trust Stromsoe Insurance Agency:
“SIA has helped my husband and I find the lowest rates for our car, home and business insurance. We are very happy with the service that SIA provides us. We would like to thank Cherie Wachel, but specially Shauna Smith who is always very helpful and very nice, she always has the perfect answer for all of our questions. Thanks.”
Luz Ma Silver – Silver Cleaning – Client since 2005

PPS Every policy is backed by our iron clad, 100% complete satisfaction guarantee. Ask for your copy today!

How To Prepare For Your Insurance Premium Audit

 

An audit of one or more of your business insurance policies is one situation that requires your early and immediate attention.

The scenario with every insurance provider is different. The scenario will be something like this: Your insurance carrier will contact you. They want to conduct a premium audit. You’ve already paid your premiums for the year. Most policies are based on the best estimate of information you can provide at the time your policy is issued or renewed, but that information could change over the course of the policy year. You may end up not paying enough or paying too much for your insurance based on your actual payroll or gross sales or change in business operations.

This is where a premium audit process comes in. Your insurance company will conduct a premium audit after your policy term expires, review your actual business operations, and calculate your final premium. Depending on the size of your operation, an auditor may be able to gather the information they need over the phone, electronically, you may be asked to fill out and return a simple form online or through the mail. For some or larger operations, an auditor may prefer to visit your office and review your records with you. This may take an hour or two of your time depending on the type of business and whether or not there have been changes in your business operations.

The auditor will let you know prior to your appointment exactly what information they will need to review. Having all the requested information ready prior to the meeting will shorten the process. They may ask to review accounting records including payroll, journals, disbursements, invoice reports, sales reports, vendor reports, general ledgers, social security reports, state unemployment forms, or other tax reports. You may also be asked for information about the business entity, ownership, corporate structure, and the business operation. It’s also important to understand any excluded persons from a policy prior to the audit.

Since an audit can encompass such a vast array of data, here are some tips for preparing:

  1. First decide which staff member is best able to work with the auditor. We do not always recommend referring the auditor to a bookkeeper or CPA. No one cares about your business like you do. This should be someone familiar with the work done by all departments and employees and is knowledgeable about the records needed to complete the audit.
  2. Review the appointment letter and prior year’s audit billing statements to familiarize yourself with the data the auditor will be reviewing.
  3. Gather all pertinent accounting records.
  4. Review payroll documents to make sure that they include breakdowns of wages by employee, department, and class code. Breakdowns should also include overtime pay and tips if applicable.
  5. Verify that you have certificates of insurance on file for any subcontractors you may have used. Be sure that the documents show that the subcontractors have their own current workers’ compensation and general liability insurance.
  6. Lastly, ask questions during the audit to clarify anything you do not understand.

Maintaining detailed payroll and sales records for the policy period is the best way to ensure that the audit process goes smoothly. If those records are organized, the audit can be completed with minimal effort. Don’t let a premium audit be a complicated process.

Our goal as your independent insurance agency of choice is to bring awareness and guidance to most situations that may occur with your insurance program. If you have questions regarding the premium audit process and need our assistance before, during or after the audit process, please us know.

Here’s 3 easy ways to reach us:

  1. Call 951-600-5751
  2. Text 951-482-8144
  3. Email insure@siaonline.com

We appreciate this and every opportunity to serve and protect you!

Does Your Business Use Independent Contractors Instead of Eployees?

 

Are you aware of the new law that has gone into effect on January 1, 2020?

This new law changes the definition of an independent contractor in California. This may effect your business if you use independent contractors instead of employees.

The California law (Assembly Bill 5) makes it harder for companies to treat workers as independent contractors takes effect next week, forcing small businesses in and outside the state to rethink their staffing.  The law puts tough restrictions on who can be independent contractors or freelancers rather than employees.  Company owners with independent contractors must now decide whether to hire them as employees or look for help in other states.

If you have any questions on how this might affect your business insurance program or your Workers Compensation insurance, please give Ann Pederson a call at 951 600 5751 or email ann@siaonline.com today.

Thank you for the opportunity to protect you, your loved ones and everything you worked so hard for!

 

Questions? Want to learn more? Here’s 4 easy ways to reach us:

Phone: 877.994.6787
Email: insure@siaonline.com
Text: 951-482-8144
Web: www.siaonline.com

PS Here’s a few words from people that trust Stromsoe Insurance Agency:
“SIA has helped my husband and I find the lowest rates for our car, home and business insurance. We are very happy with the service that SIA provides us. We would like to thank Cherie Wachel, but specially Shauna Smith who is always very helpful and very nice, she always has the perfect answer for all of our questions. Thanks.”
Luz Ma Silver – Silver Cleaning – Client since 2005

PPS Every policy is backed by our iron clad, 100% complete satisfaction guarantee. Ask for your copy today!