MAY 2018 ISSUE OF THE PROTECTION COACH

The May 2018 update of Mike Stromsoe’s The Protection Coach® has arrived.  This issue is jam-packed with all the latest news and tips for clients and friends of Stromsoe Insurance Agency.

The Protection Coach® –May 2018 (Click Here to View)

Inside this edition..

  •  Protect Your Skin This Summer
  • Types of Business Insurance
  • Quick Tip:  Summer Safety
  • Congratulations to Laura Bruno & George Hicks, our Awesome Clients of the Month. Thank you for your continued business.  Our Team is grateful for you!

Is Your Business Insurance Keeping Up with Your Business?

Your business is something that you hold very dear, but do you know if your business insurance is keeping up with your business?

As a business owner, you and hard work go together like two peas in a pod. You have invested time, money, blood, sweat, and tears into this business and so it’s something that you want to protect. Your employees depend on you, as does your community. As your business grows and changes, your insurance needs may fall behind and leave your business vulnerable to everyday risks.

New Machinery

Your old machines may be covered under your current policy, but any new machinery needs to be added. Your policy is very specific when it comes to coverage, and the machines that it covers only extends to those in your policy. Make sure to update your policy if you purchase new machinery.

Increased Employee Count

Your business will grow and that will mean more employees under your wing, which is great news for your business. But as you hire more people, you need to look at your insurance coverage in order to protect your employees, and your business. More specifically, you need to look at your liability coverage and workers’ compensation limits to provide them with the care they deserve.

Retiring Senior Management

If you, or anyone else in senior management, is going to retire soon, you will need some sort of business succession plan. This plan is not just for you, it’s for your employees too. Your employees will be able to breathe much easier if they know what is going to happen after the senior management person retires. By planning ahead, you and your agent can make sure that the transition goes smoothly.

You need the right business insurance to keep up with your business. Business insurance can give you the peace of mind that you deserve when it comes to the covered damages. Contact the Business Protection Coaches at Stromsoe Insurance Agency for all of your commercial insurance coverage needs.

Business Interruption Insurance Terms to Know

This guide will help you better understand the coverage provided by your business interruption insurance policy.

If your company has to shut down for a while after a covered loss, it can mean serious trouble. Even though you don’t have the income you need to keep up with bills, you can’t stop paying your monthly bills like rent and utilities. Luckily, a business interruption insurance policy can kick in to help your company stay afloat.

To help you better understand exactly what is covered by your business interruption insurance policy, keep these terms in mind.

  • Business income – in most cases, your insurance company will cover the reduction in your company’s net income while your operations are suspended after a covered loss. The net income includes the amount that would have been earned at your company while operating normally, including all operating expenses.
  • Actual loss sustained – your business insurance policy will cover the actual loss that your company sustains as the result of direct damage or physical loss by a covered peril. Your insurance policy will only cover losses that cause an interruption of your business which leads to a loss of income.
  • Period of restoration – your insurance company will be held liable for the income your business loses during the period of restoration, which is the length of time that is required to repair, rebuild, or replace any destroyed or damaged property.
  • Service interruption – which will cover the direct physical loss, destruction, or damage to gas, electrical, steam, sewer, water, or other service or utility that is necessary for your business operations.

When it comes to protecting your California business, having the right team of insurance experts behind you can give you the peace of mind that you deserve. Contact the experts at Stromsoe Insurance Agency for all of your commercial insurance coverage needs. We will work with you to ensure you have the right amount of protection, all at the right price to fit your budget.

Do I Really Need Commercial Auto Insurance Protection?

Understanding Commercial Auto Coverage

Commercial auto insurance is necessary for any business that that use cars, trucks, vans, or any other type of vehicle to conduct business operations. Without this essential coverage, you leave your business assets vulnerable to financial harm.

Common Commercial Auto Insurance Questions:

  • How do I know if I need a commercial auto insurance policy? There are a variety of factors that may mean it is time to obtain commercial auto insurance protection. If you deliver customers, food, goods, or anything else for a fee, it is time to seek a commercial auto insurance policy. A safe rule of thumb is to contact your commercial insurance agent once your operations require vehicles.
  • Do I need to purchase more liability coverage than a standard auto insurance policy? Most likely, yes. Generally, these policies come with more liability coverage already, but you will need to look into exactly how much liability insurance would best protect your business assets.
  • Am I going to need special coverage when using commercial vehicles to operate business? You can customize your commercial auto insurance policy to meet your unique needs. Each policy comes with standard coverage, but you and your commercial insurance agent can discuss additional coverage options that may be necessary to protect your business to the fullest.
  • Am I going to need to list each of my employees as drivers under my policy? Yes, you will need to add your employees to your policy. However, this is much more favorable than a personal auto insurance policy where there are often complications associated with listing multiple drivers under one policy.

Contact Stromsoe Insurance Agency for all of your California commercial insurance needs. You deserve to feel confident in the protection of your commercial vehicles. Allow us to help you obtain commercial auto insurance in California that optimizes your protection.

Insurance Is a Primary Need for Businesses Large and Small

In today’s world, no one disputes the need for insurance.  And any business owner, from a huge corporation to a mom-and-pop part-time venture run from a room in their home, will testify that insurance is a vital need, and certainly a priority.  But, there are many kinds of insurance, and there is no "one size fits all" package. 

Because plans and coverage have multiple components, and policy costs can vary widely, we know that you require a partner in order to ensure the best possible solutions to your insurance needs.

Navigating through the world of commercial insurance is a job for professional advisers; and Stromsoe Insurance Agency has those experienced professionals to assist you with casualty insurance, property insurance, your state’s mandated workers compensation insurance, automobile coverage, and commercial general liability and umbrella insurance.  We also deal with specialty insurance; and we will work with you to ensure your understanding of how all your policies can work together to protect your business and contribute to your financial stability.

Whatever your individual circumstances, and whether the insurance you are considering is required or optional, California business owners can be confident that our knowledgeable, professional agents consider your satisfaction their highest priority.  If you are a small business owner, we will also coordinate your personal coverage.  We are an independent agency, licensed in 17 states.

For answers to any questions you may have, or to arrange a consultation, contact us at your convenience at our conveniently-located offices in Murrieta.