Business Insurance Simplified - Floyd Arthur

People often start a business and after the thrill of setting up, they are faced with the task of selecting the right insurance. Floyd Arthur New York and the Carmoon Group specialize in helping businesses find and select the right insurance policy for their situation. The Group and Floyd Arthur have both noticed a lot of false information floating around on the internet and as such, we would like to clarify the basics of business policies.

Why You Need Insurance

Chances are you don’t have the funds on hand to replace all of your company’s assets, and even if you do; why would you want to pay out of pocket? Imagine the cost of losing your buildings, or paying all the medical bills for a worker’s compensation claim. When you think about it, insurance is like investing in the stock market, you want to diversify to prevent a total loss from one bad deal. Floyd Arthur, having spent over 20 years in the insurance business has seen firsthand the impact of an unprotected loss on a business. If you still aren’t convinced, compliance with state and federal laws should do the job. In order to build a great business, you need a strong foundation. Insurance is the infra-structure holding that foundation together.

Choosing Your Coverage

Floyd Arthur has revolutionized the process of evaluating business assets to insure appropriate coverage is in place. In order for you to decide just how much insurance is needed, consider the following:

1. What is the total cost to purchase all of your assets new?
2. How much can you afford to pay out-of pocket?
3. Are there any specialized requirements for your industry?

Although not all inclusive, the above questions will at least give you a basis for deciding the minimum coverage you should purchase. If you would like even more great advice from Floyd Arthur and the Carmoon Group, you are welcome to contact us.