Writing a Business Plan

Not only is a business plan a good idea for any business to have, but it is also often required to be submitted along with an application for insurance. We get asked all the time: “What is a business plan & how do I write one?” To put it simply, a business plan is just a summary of your current business and what you project your business to be doing in the future. Do you plan to add more equipment? Do you plan to expand your business to more locations? Are you hoping to have twice as many customers in the next 3 years? These are just examples but basically it is whatever you want for your business in the future and how you plan to achieve those goals.

There are many resources on the internet that can give you templates and outlines for your business plan. The most important thing to remember is to keep it simple. This doesn’t have to be a detailed step by step write out of your plans for your business; it just needs to be a summary.

The following resources can help you with writing a successful business plan, and there are a lot more out there!


Do I really need Disability Insurance?

Do I really need disability insurance?
Do I really need disability insurance?

A lot of people are hesitant to get disability insurance, because they’re not sure if they’ll ever come across to using the benefits of the coverage. To help better understand the importance of having disability insure, here’s a scenario to help you.


You’re on your way to work this morning and somebody runs a stop light and hits you broadside and you find yourself on the way to the hospital in an ambulance. After spending 8 to 10 hours in the emergency room you find out that you will be okay after a few months in a cast as you have a broken foot. To compound issues more you have a broken right collarbone and right ribs. Then for good measure we will add them a broken left thumb. Continue reading “Do I really need Disability Insurance?”

Necessary Property Insurance Coverages

Necessary Property Insurance Coverages
Necessary Property Insurance Coverages

First coverage will be property coverage that provides coverage from fire, theft, wind of your building, equipment, products, inventory, supplies from inside your building.  There is no coverage for this for flood.  There is flood insurance that can be purchased separately to cover your building and property. This does not provide coverage for your equipment or product that leaves the building.  The coverage that provides coverage for your property off premises is called Inland Marine coverage.

  1. The second important coverage is Business Income which is under the property policy and needs to be added.  This provides coverage for your ongoing expenses after an insured loss and the loss of sales due to this insured loss.
  2. The third important coverage is Inland Marine coverage. This provides you with coverage for your property that leaves the premises. If you go off premises to a trade show, set up your equipment at a jobsite, you will need this coverage.  The perils that are covered are fire, theft, vandalism, water damage.

Since you have made a large financial investment for your business it would be financial ruin if someone stole your property, leaving you without a way to create income.  The cost is relatively inexpensive, and provides you the ability to continue operating your business.