Today we're continuing our conversation about Protecting Your Business and Your Future. Are you prepared for weather, illness, or injury that might close your business or limit your income? What about if a car plows through your place of business? What kinds of insurance should you have in place? Let's talk about these scenarios and what you can do to prepare yourself and protect your business.
What you'll hear in this episode:
- How to handle accidents and unforeseen incidents:
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- You need insurance in place BEFORE you need it
- Beware of insurance waiting periods
- Note that insurance will NOT fully replace your income
- Have a savings account in place for emergencies
- Have disability insurance in case of extended illness and injury to you
- Why you need life insurance in place
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- To help your loved ones in the event of your death
- It can help in a time of terminal illness
- What to do if a car plows through your business, especially if they are uninsured:
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- Get all information from the driver, including insurance info, driver's license number, address, and phone number
- Take pictures of all damage to your business and the vehicle
- If they are uninsured, contact your insurance company for help
- Think about retirement: Are you planning now for financial independence?
- Why you and your employees need health insurance that includes vision and dental coverage
- It never hurts to have an insurance review with a licensed agent. Find out about the different types of insurance available, the deductible and waiting period options, and what will be covered in the event of an emergency.
