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Beth A. Botti, CFP®, ChFC, CLU, CDFA™
Financial Consultant
California Insurance License #0G24537
612 Wheelers Farms Road, Milford, CT 06460
Phone: 203-877-6556 Ext. 169
Fax: 203-301-0736
Email: beth.botti@equitable.com
January/February 2020
Insuring Your Business
If you read this newsletter regularly, you know that we talk about how life insurance can help fund various business agreements and fill out an attractive employee benefits menu. Life, health and disability income insurance play prominent roles, but as a business owner you likely need to insure your company in a number of other ways. These are some ways businesses protect their financial investment:
The Foundation
If you run a business, you’ll need property insurance and general liability insurance. Property insurance protects your premises and business equipment financially if certain types of losses occur due to fire, theft and some weather events. General liability insurance protects you in case a person receives a bodily injury at your business site. Many insurers will offer a Business OwnerPolicy (BOP) that combines this and other coverage.
Specialized Coverage
Some BOPs offer insurance to protect your business against losses caused by business interruption, employee theft and other liabilities. Depending on your business, you may also need Directors & Officers (D&O) insurance, Errors & Omissions (E&O) insurance, which may also be sold as professional liability insurance, cyber and identity theft insurance and product liability insurance.If you have employees, your state will likely require you to cover them with worker’s compensation insurance, and it will probably mandate that your company vehicles have liability coverage, which you can find in a commercial auto package. You’ll need separate policies or endorsements for flood and earthquake coverage, and you may want to have an umbrella policy for extra coverage.
Core Offerings
Whether you run a one-person business or have 100 employees, you may want to consider how your business can help meet individual life, disability income and health protection needs. Health insurance is among the most important benefits you can offer prospective and current employees, while life insurance and disability income insurance financially protect employees and their loved ones against two potentially large exposures.As we enter 2020, now is not only a good time to talk to your property and casualty insurance professional, but to discuss with your insurance professional the individual and business challenges health, life and disability income insurance can help meet.
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Duly registered and licensed financial professionals offer securities through Equitable Advisors, LLC (NY, NY 212-314-4600), member FINRA,SIPC (Equitable Financial Advisors in MI & TN), offer investment advisory products and services through Equitable Advisors, LLC, an SEC-registered investment advisor, and offer annuity and insurance products through Equitable Network, LLC (Equitable Network Insurance Agency of Utah, LLC in UT; Equitable Network of Puerto Rico, Inc.). Equal Opportunity Employer - M/F/D/V. Equitable Advisors and its associates and affiliates do not provide tax, accounting, or legal advice or services. Representatives may transact business, which includes offering products and services and/or responding to inquiries, only in state(s) in which they are properly registered and/or licensed. Your connection to this website does not necessarily indicate that the sender is able to transact business in your state. The information in this website is not investment or securities advice and does not constitute an offer. For more information about Equitable Advisors, LLC you may visit https://equitable.com/crs to review the firm's Relationship Summary for Retail Investors and General Conflicts of Interest Disclosure.
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CFP®, and CERTIFIED FINANCIAL PLANNER™ are certification marks owned by the Certified Financial Planner Board of Standards, Inc. These marks are awarded to individuals who successfully complete the CFP Board's initial and ongoing certification requirements.
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