Computer Insurance
If you have a laptop or desktop computer, chances are it's worth some money. But if you don't take measures to protect that investment, you could be on the hook for thousands of dollars in repairs. And while many people think their homeowner's insurance covers their computers, that is not usually the case. So what are your options?
Fortunately, there are a few good computer insurance plans out there designed specifically to protect computers and related items such as printers that provide various levels of coverage at different price points. While prices and coverage vary from plan to plan, we've outlined our top three choices below so you can make an informed decision about which program would work best for your business needs.
As always, be sure to read the fine print on any policy you consider to ensure it meets your needs. It's worth noting that many small business owners are eligible for special rates since they are often viewed as a lower risk. To learn more, contact your local agent or broker or consult The Insurance Information Institute's insurance directory online at http://www.iii.org/dir/dirhome.html.
1. The Central Group Insurance Company's Computer Policy
This policy covers your computer and related items such as printers against disaster, such as windstorm or fire, theft, vandalism, smoke and flood. In addition, the policy covers your business for employee dishonesty, errors in data entry and computer failure due to power outages. It also includes a system liability endorsement that covers your business for legal defense costs if someone is injured by your computer system. This plan is available in several states and covers computers ranging from $2,500 to $25,000 for between $11 and $21 a month depending on the amount of coverage you want. You can choose from three different levels of coverage with increasing deductibles and limits.
2. The Allstate Insurance Company's Computer Policy
This policy is designed to cover both computers and related items such as the printer against fire, theft, vandalism, flood or windstorm. It also provides liability protection for your business for employee dishonesty, errors in data entry and computer failure caused by power outages. The plan is available in several states including New York, Missouri and Illinois. For a modest premium, you can purchase coverage ranging from $5,000 to $25,000 for between $10 and $16 a month depending on the amount of coverage you want. You can choose from three different levels of coverage with increasing deductibles and limits.
3. United States Specialty Insurance Company's Computer Policy
This policy provides your business with coverage for fire, theft, vandalism and flood or windstorm damage. It also covers your computers and related items such as printers against loss caused by lightning, fire, power surges and other disasters that could damage your computer. In addition, the plan will cover your business against liability risks such as employee dishonesty, errors in data entry or malfunctions of computer systems caused by power outages. This plan is available in several states including New York and Illinois as well as on a nationwide basis depending on the coverage you want. For a monthly premium, you can purchase coverage ranging from $5,000 to $25,000 for between $10 and $15 depending on the sample of coverage you select. You can choose from four different levels of coverage with increasing deductibles and limits.
For more information on computer insurance or small business risk management in general, check out some of the resources below:
http://www.iii.org/publications/insights/detail/computers-and-technology-rv-insurance#sthash.NBPbeA2N.dpuf
http://www.iii.org/services/brochures-informational/small-business-insurance.html
http://smartbusinesstimes.com/article/risk-management-101/
Legal Issues
Title: Legal Issues [ARTICLE START]
Today's business environment is full of legal issues ranging from employment law to patents to copyright infringement and beyond. But while you may encounter legal issues on a daily basis, understanding what they are and how they affect your business is an essential part of running a successful company.
Here are some general tips to help you stay on the right side of the law:
• Define your company's mission, goals and values. By clearly defining your company's mission and goals, you can avoid crossing legal boundaries that could jeopardize your business. For example, if you are operating a blog with the goal of increasing traffic to a particular website, it may be beneficial to include advertising banners on your site. But if you are concerned with maintaining an editorial focus, it is appropriate to make clear in your Terms of Service that no advertising will be posted on your site.
• Seek professional advice. You should know the legal implications of your company's actions. Twisting your fingers in a knot in an attempt to make them look like a lawyer is not a good idea. So find an attorney who specializes in your particular industry and get their advice before making any moves.
• Keep track of all correspondence with government agencies, lenders and clients. Write down each conversation and keep copies of all e-mails, letters, faxes or phone messages that are sent or received from these sources.
• Keep a system for recording all your business transactions including receipts as well as inventories of equipment and inventory items you own and those that belong to other companies you do business with. And don't forget to keep track of the value of everything you buy and sell.
• Know the laws that apply to your industry or profession. Every state, county and city has its own set of laws. Knowing what the rules are in your area is important because it will allow you to know what to do and not do when making business decisions.
Conclusion
This article was written by Michael J. Frome, President of the FromeLaw Group, a national law firm dedicated exclusively to helping small businesses comply with legal requirements in addition to offering legal advice and representation as needed to clients in need of legal services from social security, contracts, securities, employment and more. For more information on some of the state specific information provided in this article please visit:
http://www.fromelawgroup.com/state-specific-articles/legal-issues/index.
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Computer Insurance