Starting a small business is a dream come true for many people. You get to be your own boss, can enjoy the fruits of your labor, and can build the company as you see fit. Starting a business comes with risks, and considering the total costs, including commercial insurance, is essential.

Starting or running a business near Harrison, AR? Contact Foresee General Insurance Agency Inc.

Starting a Business Comes With Risks

The Bureau of Labor Statistics reports that roughly one in five new small businesses will fail within the first year or so. Nearly half will close shop within about five years. For better or worse, starting a small business comes with many risks.

Often, business owners must shoulder most of those risks. For example, this may mean providing the funding to pay for staff and equipment. The entrepreneur may be on the hook for the sunk costs if the business fails.

Besides being pushed out of the market by competition, businesses face many other challenges. For example, what happens if a criminal breaks in and steals or vandalizes equipment? What if a customer slips on a floor, gets injured, then demands that the business pay damages? Or what if a significant storm produces tornadoes that then cause extensive damage?

Without insurance, the entrepreneur may be on the hook for all of the above (among other things). Commercial insurance policies, however, will protect businesses from many things. It’s crucial to read the fine print of specific insurance plans, but some plans will cover theft, fire, severe weather, burst water pipes, and more.

Fortunately, entrepreneurs who live in or near Harrison, AR can contact Foresee General Insurance Agency Inc. to learn more about commercial insurance options.

Commercial insurance isn’t just for brick-and-mortar business locations, and it’s also necessary for online businesses too. Proper commercial insurance protection can help you avoid risks and pitfalls that can set you back or put you out of business. Let the experts at Foresee General Insurance Agency Inc., serving Harrison, AR, assist you with the selection process and maintaining your ideal coverage. 

Commercial Insurance

Commercial insurance is essential for business owners who want to ensure their stability, security, and peace of mind. This type of coverage can include the following:

• Liability coverage
• Inventory
• Lawsuits
• Defective products 
• Theft
• Injuries

Getting the proper coverage for an online business is particularly important. There are unique risks and considerations for the method of business operation. Insurance protection designed to cover those risks is necessary for peace of mind. 

If you own and operate an online business, you can speak with one of our highly skilled agents to get the insight and support you need to choose the right policy for your particular needs. Our team of insurance experts can work closely with you to determine what you need to insure. 

Contact Us Today

The residents of Harrison, AR need reliable insurance products they can trust. Foresee General Insurance Agency Inc. is dedicated to providing dependable insurance products designed to suit your needs and protect the things that matter. Call or stop by the office today to speak to one of our knowledgeable agents or learn more about our range of products and services. Be sure to get the online business protection you need. Reach out today to get started and secure adequate protection to prevent losses. 

You may wonder if you need commercial insurance if you have an online business. It depends on the type of business you have and the risks involved. If you’re opening an online business in Harrison, AR, Foresee General Insurance Agency Inc. has some things to consider when making your decision.

What is commercial insurance?

Commercial insurance is a category of insurance that helps protect businesses from losses due to accidents, theft, property damage, and other potential risks. This type of insurance can help cover the costs of repairs, replacements, and legal fees if your business is sued. Commercial insurance can also help protect your employees from injuries or illnesses that occur while they are working.

There are many types of commercial insurance, including property insurance, liability insurance, workers’ compensation, and product liability insurance. Property insurance covers the buildings and contents of a business, while liability insurance protects against legal claims for injuries or damages. Workers’ compensation benefits employees injured on the job, and product liability insurance protects against lawsuits for injuries or damages caused by a company’s products.

Do you need business insurance for an online store?

You may need business insurance to protect yourself from liability if you have an online store. Business insurance can help cover damages if you are sued for copyright infringement or if one of your products hurts someone. It can also help pay for legal fees if you are sued.

Foresee General Insurance Agency Inc. in Harrison, AR, offers commercial insurance for online businesses. We have a wide range of options to choose from, and our experienced team can help you find the right coverage for your business. Contact us today to learn more about our services.

Why do businesses need insurance? The simple answer is that accidents can happen at any time. And when the accidents are severe enough, they can wipe your hard-earned venture within a matter of minutes!

But before going far, let’s answer this question: do all businesses need business insurance? The short answer is a resounding yes. As you will see from the post below by Foresee General Insurance Agency Inc. of Harrison, AR, all businesses need commercial insurance for the following reasons:

No business is 100% risk-proof

You may have installed CCTV cameras and high-perimeter walls to keep thieves away from your storage facility. Inside, you have robust internal control to mitigate internal theft. Unfortunately, theft is just one of many risks faced by businesses. You may have solid anti-theft measures, but you are not safe from natural disasters, fires, liability claims, and employees’ injuries.

There is no risk-free business, whether small or large. And it’s for this reason you need commercial insurance to safeguard you when the unexpected occurs.

It’s mandatory

Some aspects of business insurance are mandatory, depending on the state you are operating. For instance, Arkansas requires businesses to invest in worker’s comp insurance if they have more than three workers. Similarly, you must purchase commercial auto insurance if you have commercial vehicles.

But whether commercial insurance is mandatory or not, all businesses should invest in commercial insurance options applicable to their business.

Business insurance builds credibility

If the above two reasons don’t appeal to you, then consider business insurance to boost your reputation. Customers, investors, and suppliers are impressed by businesses that take risk management seriously — there is no better way to mitigate risks than investing in commercial insurance.

Ready to invest in commercial insurance in Harrison, AR? Please reach out to Foresee General Insurance Agency Inc. for a favorable quote.

Foresee General Insurance Agency Inc. is dedicated to helping business owners in our Harrison, AR community protect their companies. We often have clients ask us about inventory coverage. If you are concerned that your current policy doesn’t provide the coverage you need, it’s time to talk to one of our experienced team members.

Inventory protection for your commercial business

Inventory is an important component of many businesses. As your firm grows, your inventory holdings will likely grow as well. If you are still carrying a policy that protects a past level of product, it may be time to update your coverage. Primary policies can cover inventory to a certain level, but may not have the robust coverage you need. This can be the case if you estimated your inventory during a low season, you have expensive items that exceed the maximum allowable amounts in your primary policy, or if your level of inventory has outpaced your current level of coverage.

There are many different reasons why supplemental inventory may be necessary. Of course, every company’s situation is different and that’s why it makes sense to sit down with an experienced, local agent. It is advisable to review commercial policy coverage at least once a year to ensure that it is in line with your firm’s current requirements. 

Is it time to review your current policy’s inventory coverage?

Foresee General Insurance Agency Inc. thinks it’s a great idea to regularly review your commercial insurance policy. Give us a call today and set up an appointment with one of our Harrison, AR team members. We are here to help!

Home businesses are particularly popular right now. They account for almost half of all small businesses. Just because a business is home-based, it is not financially responsible to treat it less seriously than you would a business in a storefront. All the dangers that face any business are also faced by home businesses. Simply stated, yes a home business needs commercial insurance. At Foresee General Insurance Agency Inc. in Harrison, AR, we are an independent agency that strives to give our clients the choices and information they need to protect their business. 

Property insurance

Commercial property insurance offers different coverage from home insurance. Home property insurance will cover your physical home from a variety of perils. Content coverage protects your personal items in your home. With a home business, you may have a lot of other things related to your business that home insurance won’t cover. You may have office equipment, records, machinery, inventory, and raw materials. In order to cover what you need to do business, commercial property insurance is a must. 

Liability coverage

Liability at home is somewhat different from business liability. Home insurance covers a visitor who visits your home, but when someone visits for business, home insurance won’t cover them. You could be left holding the bag for medical expenses as well as a legal suit against you. It just isn’t worth the risk. With a commercial policy, you would have the amount of liability coverage you need. 

Business interruption coverage

Small home-based businesses are particularly vulnerable to business interruptions. When a business can’t operate because of a covered hazard, the bills don’t stop. You have no income coming in but probably have outstanding invoices for things you have previously purchased. Business interruption insurance may be the only thing between you and closing your business. It is not something that you can have without a commercial insurance policy. 

Contact Foresee General Insurance Agency Inc. in Harrison, AR to discuss your home business insurance needs. 

Foresee General Insurance Agency, Inc. serves the Harrison, AR community and offers a wide range of insurance coverage. We like to help educate our clients so that they can find coverage that aligns with their individual needs. Our team proudly serves the community as an independent insurance agency.

The Benefits Of Workers Compensation

As a business owner in the Harrison, AR community, you are aware of the day-to-day responsibilities of organizing things. To protect your investment and help things run smoothly, consider the benefits of commercial insurance. The policy protects you against some of the risks associated with operating a business. You will be covered if any of your property is stolen or damaged. You are also covered if one of your customers is injured while visiting your business. One of the most important parts of your commercial insurance policy is workers’ compensation.

Workers’ compensation allows you to protect your business while also showing how much you love your employees. The policy primarily protects your business if one of your employees is injured in the marketplace. Workers’ compensation prevents you from being held liable for potentially huge losses and damages that may arise through a liability dispute. Workers’ compensation will cover your employees as they go through the rehabilitation process. The policy covers your employees if they pursue forms of physical therapy or other innovative treatment methods. If your employee becomes disabled, workers’ compensation will protect your business and provide coverage.

Workers’ compensation is an asset to your business because it shows your employees that you value their contributions to the company. This can help you attract some of the top talents in the industry. A good workers’ compensation policy not only protects your business but sets it up to have success in the future.

Foresee General Insurance Agency, Inc. Will Help You Protect Your Investment

Visit our website to learn more information about commercial insurance.

Having a small business comes with lots of work and worry. One thing you should not have to worry about is your commercial insurance. With a trusted independent insurance agent, you can be assured that the coverage you have fits your business needs. Commercial insurance is not one size fits all. Your insurance should be customized to your business to not pay for coverage you don’t need. In Harrison, AR, the agency to go to is Foresee General Insurance Agency Inc.for friendly and knowledgeable service. 

Keeping your small business viable is important, and even if you are hit with a peril that renders it non-operational, you need to know your business will survive. Business interruption insurance is the way to do that. While it won’t protect you from every eventuality (be sure to read the exclusions on this policy) for most common perils such a fire or storm damage, this will provide the money you need to make your payroll and expenses payments. 

Being sued is a danger for any business, no matter the size, but small businesses are especially vulnerable. It is unlikely that you have an army of lawyers to defend you, and having Commerical liability insurance is the best way to make sure you have the money you may need to pay a judgment against you. 

Commercial property insurance protects a lot more than just the physical building where your business is located. It covers your office equipment, customer records, inventory, and everything inside your building. Getting these things replaced or repaired means you can be back in business sooner. 

These are just a few of the potential commercial insurance pieces that may help save your small business if you have a covered peril. To learn more about the other types of coverage available, call or visit the experienced agents at Foresee General Insurance Agency Inc. in Harrison, AR for a no-obligation quote.

Before we learn how to get commercial insurance in Arkansas, it is vital to establish why commercial insurance is important. To begin with, commercial insurance keeps the business running in case of any unforeseen situations, such as a natural disaster or accident. The insurance policy keeps the company afloat in many ways, such as providing coverage for expenses or protection for a portion of lost income. In most cases, commercial insurance should be able to assist in such circumstances. Some banks that are lending funds require companies to have commercial insurance. These loans are crucial to keep the company going, so all requirements to secure these loans must be completed.

There are typically three types of commercial insurance: liability insurance, property insurance, and workers’ compensation insurance. Liability insurance covers damages or injury to third party claims on behalf of the insurance policyholder. Property insurance is designed to provide coverage from flooding or fire as compensation damages caused by such events. Workers’ compensation insurance is made to protect the business in a situation where an employee gets injured at work. Many other types of commercial insurance are specific to company types.

In order to get a commercial insurance policy, it is recommended you get in touch with a local insurance agency that can understand all the requirements and scope of your business. It is imperative you get your commercial insurance policy from a registered insurance agency in the state of Arkansas. At Foresee General Insurance Agency, Inc., customer service is the top priority. Our agents at Foresee General Insurance Agency, Inc. in Harrison, AR can assist you in getting the commercial insurance that is suited to your needs, goal, and preferences. You can visit our office in Harrison, AR, or give us a call for more information.