The Blog

Trusted Choice Business Insurance FAQIs Business Insurance Tax-Deductible?According to the IRS, “you can deduct the ordinary and necessary cost of insurance as a business expense, if it is for your trade, business or profession.” You should consult a tax professional if you have questions, or you can refer to IRS Publication 535, “Business Expenses.”Does Business Insurance Pay for Lawsuits?You may be surprised to learn that during the average year, 36% to 53% of small businesses and nearly 90% of U.S. corporations are involved in some type of litigation or legal dispute. Even small, home-based businesses run the risk of being…

Trusted Choice® Business Insurance FAQWhat Is Business Insurance and Why Do I Need It?Business insurance is a category of insurance policies that specifically protects a company, large or small, from financial loss. Business insurance can include everything from liability and property insurance to business interruption and cybercrime insurance. The business insurance protection that you need is as individual as your company is.The type of coverage you should purchase and the amount of risk your policies should insure are determined by several factors: the size of your company, the number of people you employ, the type of business you’re in, and…

Are You a Management Consultant? Insure the Future of Your BusinessWorkforces have changed. Today, consultants are commonly found in strategic roles across businesses. The evolution began long before the pandemic. Decades ago, management consultants began to stake out functions where they could step into companies and other organizations, teaming with their management to map strategies to cut costs, improve customer relationship management, leverage data analytics, introduce new business processes, introduce new technologies, augment skillsets, make supply chains and procurement more efficient and effective, and in some instances, assume responsibility for functions, such as public relations, payroll or external workforce management.…

Hiring WorkersAs the cost of traditional daycare centers continue to rise, the home childcare industry is primed for growth. Depending on your location, the number of workers required on a per-child basis will vary, but one thing remains certain: Bringing new employees or volunteers into your business creates exposures your business may not otherwise have faced. The following are just a few exposures regarding some unique insurance coverage issues your business should prepare for when bringing in help.Liability for the Actions of Employees and VolunteersRunning a home childcare business presents a multitude of liability concerns for employers and employees. The…

Insurance for Your Home-Based Childcare BusinessYou’ve properly registered, licensed or certified your home childcare business according to the requirements in your state and are ready to get to work. Before allowing a child to walk (or crawl) into your home, consider a few essentials for your business liability insurance.Liability CoverageThe law in some states may not require you to carry insurance for your home childcare business, but operating such a business without at least some essential liability insurance is extremely dangerous and could cause irreparable financial harm. Liability insurance covers claims of property damage and bodily injury for which your…