Episode A1.006 Business Insurance

Introduction
The dream of starting a business is an exciting one!  Most of us are more excited about the results of the dream, rather than the growth and development from the steps taken to make that dream come true.
 
Here at IBGR we believe that any of you can build a successful, sustainable business.  IF, the actions you take line up with that dream.  Those actions aren’t sexy – like business insurance.  Those actions are intentional, rational, and are based on research.
 
Today my guest, Bill Barnes of Barnes Insurance Group, and I discuss the ins and outs of business insurance.  We look at how to assess risk, which takes you to choosing from among the different types of business insurance.  Finally, we look at the 4 steps to buying business insurance.
 
Types of Business Insurance:
·      Property
·      Liability
·      Auto & truck
·      Workers Compensation
·      Umbrella
·      Flood
·      Cyber Liability / Data Breach
·      Crisis Response
 
Four Steps to Buying Business Insurance:
1.   Assess Risk.
2.   Build a relationship with a licensed agent.
3.   Shop Around. Compare prices and coverage.
4.   Re-assess every year.
 
For those of you here in the US, check out the Small Business Administration website here:
 https://www.sba.gov/business-guide/launch-your-business/get-business-insurance#section-header-0
 
So, how about the biz insurance landscape in Canada?
The Insurance Bureau of Canada has a short guide for Business Insurance.  Check it out in the show notes: http://www.ibc.ca/on/business/business-insurance-coverage
 
For those of you located in the UK:
https://www.gov.uk/employers-liability-insurance
 
For listeners in India, check out this article on GoDaddy written in January, 2020 by Shweta Saxena entitled, “5 Businesses that Need Public Liability Insurance in India”: https://in.godaddy.com/blog/5-businesses-that-need-public-liability-insurance-in-india/
 
For our listeners in Nigeria, check out the Corporate Affairs Commission, and seek out referrals from your network for licensed agents.
 
You can reach out to Bill Barnes, at info@thinkBIG.agency or at 804-598-2068.  Check out Barnes Insurance Group’s website at:
 https://www.thebarnesinsurancegroup.com

You can reach out to me at wendy@ascendcoachingsolutions.com or at 1+(804) 372-7575.  I’d love to be your business coach! 
 

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