Business

In business, you may need to ensure that your mail is signed for. We take a look at what you need to know about USPS Certified Mail.

Some documents you don’t want to mess around with, like wills, records, and anything financial. So if you have to send it through the mail, how do you make sure it’s secure?

You send it through Certified Mail. But what is Certified Mail?

Check out our comprehensive guide below on USPS Certified Mail and why you need it more than you think.

What is Certified Mail?

USPS Certified Mail is when the recipient must sign for the package, so there’s proof of receipt.

If the person who signed for the package wasn’t the intended recipient, they have the responsibility of getting to them. If they don’t and the package gets lost, you know where to point blame.

You have to fill out extra forms to send Certified Mail since it’s essentially like sending your letter with a security guard. Once it’s received you’ll get a notification in your email or via snail mail.

The Benefits: Documentation

Other than it being more secure, Certified Mail comes with more tracking options than a classic package. You can search for your Certified Mail number in the database and check the delivery date.

You get a receipt with tracking information and your Certified Mail number for your records.

Sense of Urgency

If you’re trying to inspire someone to take action, like by sending them a Certified Mail request for money, they’re more likely to pay attention when they have to sign something for it. In fact, many organizations and institutions will require the recipient to pay the Certified Mail fee. That’s along with the bill they’re paying.

So, essentially, your company can add a charge to the bill for the cost of sending Certified Mail.

P.O. Boxes

You can send Certified Mail to P.O. Boxes, which can be tricky to send mail to.

The person who opens their P.O. box will have a delivery slip, which they’ll take to the counter. The counter employee will have them sign and you’ll get the notification.

How to Send Certified Mail

When you go to the Post Office, you have to go through a few different steps than usual. Instead of going up to the counter and using a stamp – find a PS 3800 Form.

You’re looking for a small white sticker-like form with green border and a barcode.

You’ll fill out the recipient’s info as well as your own on the sticker and the envelope. The sticker will have forms that make it clear what information to provide.

Then, the barcode goes on the letter. You put it between where the stamp goes and the return address.

Time to Pay

Once you have the form filled out, take the envelope and the sticker up to the counter. You’ll have to pay $3.35 USD to mail the actual letter, then $2.75 for the return receipt.

After you pay for the certification, you can decide if you want First-Class Mail or Priority Mail.

Consider Your Options

Do you want to make sure that the person you’re sending it to is the one that signs for it? You can ask the Post Office to confirm identification before someone signs. This is called “restricted delivery service”.

To add this to your Certified Mail order, check the box on your form and tell the teller you’d like restricted delivery.

Mail the Letter

Once all the above steps are finished, make sure you have your receipt and place the letter in an outgoing mail slot.

With your receipt in hand, you’re now free to go home and check your letter’s progress online – with your Certified Mail number.

Depending on the options you chose, you can see the receipt proof in your email. It will come as a .pdf – like a scanned document.

Send it Online

In the last few years, people have started printing their own postage online. Yes, this is legal – you still have to pay postage fees. This is simply online retailers partnering with USPS to make customers’ lives easier.

There are many sites that offer this option – even PayPal asks if you’d like to print postage.

However, there are some sites that specialize in online postage. Like this one, which you can view here.

To use these sites, you fill out your information online and pay the postage amount to the site. Then they send you some sort of .pdf or image of the postage you need.

You print out the postage and adhere it to what you’re sending. If you don’t have special sticky paper, you can put clear packing tape over the top.

Things to Watch Out For

When you print postage online, you need to make sure you’re going through a reputable dealer. They should say they’re USPS certified or have language saying they sell USPS postage.

You don’t want to go through the trouble of printing something out and paying – just to have the Post Office send back your letter asking for correct postage.

When to Send USPS Certified Mail

When you’re trying to decide if you want to send Certified Mail, ask yourself this question: how bad would it be if this got lost in the mail?

The other time you need to send something certified is when you have to show proof that you sent it. Sometimes if you’re late on a payment or there’s something that says “must be postmarked by“.

Sending by Certified Mail gives you proof that you sent what you needed to send on time.

You can go to the Post Office or send your USPS Certified Mail online. However you do it, make sure you keep your receipt!

Want more easy-to-read but easier-to-use information like this? Check out our lifestyle offerings.

 

Understanding the Different Types of Air Compressors

Looking for a good air compressor for your business? Here’s a guide to the different types of air compressors you’ll find on the market today.

George Medhurst invented the first motorized air compressor in 1799 in England, which he used for mining.

It’s incredible to think that we still rely on various compressor types to help with everything from launching a jet right down to inflating tires.

Read on for an explanation of the four main types of air compressors so you can make an informed decision for your needs.

1. Reciprocating Air Compressors

A reciprocating air compressor uses pistons that get propelled by a crankshaft to deliver high-pressure gas.

Reducing air volume to increase pressure is how air compressors work. These machines take increasing amounts of air into an enclosed space. The air increases in pressure.

Air compressors are a type of positive displacement machine. They’re available as either air or water-cooled models. Various pressure selections and air capacity types are available to suit your needs.

2. Rotary Screw Compressors

Rotary screw compressors are also positive displacement compressors. These are often used in applications where large volumes of high-pressure air get used, such as in operating high-power air tools like jackhammers.

These machines are comprised of two meshing helical screws, known as rotors. These rotors compress gas internally in a closed unit.

Rotary screw compressors get cooled right inside the compressor. As a result, the internal parts aren’t exposed to extreme temperatures.

One of the main benefits of this type of compressor is that you get a compact size with a high volume output for years. This machine is easy to use and maintain and provides excellent continuous duty. Check out Able Sales compressors to find one to suit your needs.

3. Centrifugal Compressors

A centrifugal compressor is not a positive displacement compressor. Instead, it is a dynamic displacement compressor. Instead of working at a constant flow the way that displacement compressors do, dynamic compressors work at constant pressure.

So, how does this compressor type work? Radial blades pull in the air towards the rotating impeller. The air gets pushed towards the middle by centrifugal force. This air movement leads the pressure to rise which produces kinetic energy.

This machine relies on the energy transfer from an impeller to the air. That means that these compressors must rotate at higher speeds than other types of compressors in order to be efficient.

One advantage of this type of compressor is that they’re engineered for running at high capacity thanks to the continuous flow.

4. Axial Compressor

Axial compressors are another type of dynamic compressor. They’re named for the axial flow they require to pass air through the compressor.

Rows of blades inside the compressor shaft convert kinetic energy to pressure. A drum offsets axial thrust inside the compressor.

One of the perks of this type of compressor is that they are lighter and smaller than other types of compressors. And they operate at high speeds.

Just like centrifugal compressors, these compressors provide a constant flow of compressed gas and are very efficient.

They are well-suited to work with gas turbines for aircraft usage as well as generating electricity. The downside to axial compressors is that they’re complex and cost more than centrifugal compressors.

Bottom Line on Air Compressors

We hope you found this explanation of the four main types of air compressors helpful.

Chances are you are reading this post because your business is growing and you are researching how to continue to expand your enterprise. If so, check out these 6 tips to help your business cope with expansion.

For more business help, check out our blog!

Getting a job is getting harder in harder. These days you have to all sorts of talents to stand out. Click here to learn about the 4 skills employers look for.

The unemployment rate dropped to 3.8% this year. Learn what skills employers look for to increase your chance of getting a job.

The unemployment rate is the lowest it’s ever been in 18 years. However, 1.2 million Americans have been out of work for 27 weeks or more. Fortunately, there are specific skills you can cultivate to make yourself more appealing to employers.

What are you waiting for? Here are the top skills employers look for:

1. Skills Employers Look For: Willingness To Learn

A willingness to learn is the most requested soft skill among employers. Ideal candidates are always looking to improve their work and learn all they can about the job.

Employers also value the ability to handle criticism and use it to develop your skills as a new employee.

You should also stay hip to industry-related knowledge and trends. This shows you are self-aware. Self-awareness will make you a better worker.

Show your willingness to learn by listening to industry-related podcasts, researching articles, taking certification classes, keeping an eye on the competition, and continuously updating your knowledge/skills related to your job.

2. Communication

Communication is 1 of the most important job skills in all professions. When you’re not communicating with customers, you’re interacting with coworkers and management. The more you excel at communication, the more likely you are to get hired.

Excellent communication skills lessen the likelihood of misunderstandings or mistakes. If you have knowledge of your job, it’s important to communicate that information to others.

In addition to speaking, listening is another essential aspect of communication. You should be able to listen to others and ask for clarification if you don’t understand instructions.

Communication is vital to good customer service. You’ll need communication skills if you apply for a position at United Card Solutions.

3. Problem Solving

The ability to solve problems is another one of the most significant skills jobs look for. Employers want to hire employees who can troubleshoot on their own and develop answers independently. Some job skills come and go, but this job skill will never go out of fashion.

In interviews, mention instances when you successfully solved problems in the workplace. You’ll seem more appealing to the employer.

To prove your problem-solving abilities on the job, don’t wait for someone else to solve a problem. Try developing your solution. Don’t be afraid to ask others for input to develop a more refined solution.

4. Organization

Organization skills are always useful on the job. To organize something is to arrange details into a structured whole. With good organizational skills, you can accomplish everything from meeting deadlines to maximizing productivity.

The workplace runs more smooth with proper organization. For instance, your working space should always be clean and coordinated. You should be placing items where they should be, not in places that are unmarked or inconvenient.

Employers Need People Like You

Around 35% of the skills workers need will change in the next few years. However, certain skills employers look for are timeless classics in every industry.

Around 1 out of 4 adults claim there’s a mismatch between their skills and the skills they need to perform their jobs. Stay on top of your industry by improving the skills listed above.

Get the competitive edge and learn more about business. It’ll improve your life.

If order to design your ideal home office, read on to learn about 6 design tips to keep in mind, in order to design a functional yet stylish home office!

Designing my home office: 6 Tips to keep in mind

1. Don’t be afraid to express your individuality

When it comes to designing a home office, don’t feel pressured to design a traditional office space as if you plan on working from home on a daily basis, it’s well worth putting your stamp on your home office. For starter try home office furniture uk when painting your office walls your favorite color. Or playing a fluffy rug in the middle of your home office.

2. Use a variety of different textures, to give your office a chic, stylish aesthetic

If you’d love to able to design and to put together an effortlessly chic and stylish home office, it’s well worth incorporating decor pieces in a wide variety of different textures into your home office.

As examples, you can’t go wrong placing a silver candlestick on your workdesk and to purchase a solid wooden desk and a fluffy faux fur rug, in order to create a room with oozes style. If you own a statement chaise or a sofa, it’s also well worth using a few textured pillows to decorate your office chaise or sofa.

3. Choose a stylish, comfortable desk chair

One of the most important decisions which you’ll have to make when you design your new home office is what type of chair you’d like to purchase. As it’s critical to choose a chair which fits your office’s aesthetic but is also comfortable to sit in for hours on end. If in doubt make sure to use a fully adjustable desk chair, so that you’ll be able to sit at the right height to type efficiently.

4. Choose a desk that features tons of extra space

It’s well worth choosing a functional yet stylish work desk that offers extra drawers and space for additional items such as a printer, files, and stationery. As if your work desk offers plenty of space you’ll be able to keep your home office neat and tidy, with little effort. As every item in your office will have a proper, designated spot.

5. Design a home office which is brightly lit

To be able to work efficiently in your home office is an ideal area to work, ensure that your office is adequately lit, so that your eyes won’t have to struggle to adjust to a lack of lighting. Especially if you are a bit of a night owl and frequently spend your evenings or nights working on your latest projects.

6. Organize your room so that your desk faces your window

When it comes time to position your work desk, ensure that your work desk is positioned next to one of your home office’s windows as natural lighting is the best type of lighting to work with.

So if you’re currently designing your dream home office, reread the 6 tips mentioned above in order to get started!

Do you have an employee or two who is always late? How do you deal with late employees? Read on to learn the top seven steps to effectively deal with them.

We’ve all been there. Your alarm didn’t go off, your car wouldn’t start, or you misplaced your keys. Whatever the reason, being late for work happens to everyone, and it makes for a very stress-filled experience.

But with 19 percent of Americans arriving late at least once a week, it seems chronic lateness is a growing problem.

As a manager, you understand that most employees arrive late now and again. You’ve probably arrived late yourself. These chronic latecomers, however, make being on time for work seem like an impossible task, even though most of us manage it every day.

Here are seven steps to help you deal with late employees and make regular tardiness a thing of the past.

Step 1: Outline Your Expectations

To ensure that your employees know where you stand when it comes to lateness, it’s crucial to set clear expectations.

In many cases, employees who arrive late for work on a regular basis do so because they can. Maybe in their last role punctuality was not emphasized, or they aren’t used to working set hours.

Change the tone of your company environment by outlining clear expectations for punctuality. Don’t rely on employees seeking them out in the employee handbook. Make a point of reiterating rules in meetings, or in the company newsletter. Ensure that your rules on punctuality are a part of every new employee orientation.

This outline must also include a clear discipline progression if employees do not adhere to these rules on timekeeping. For example, first they get a verbal warning, then a written warning, then a write up at work by HR.

Step 2: Show You’re Watching

Some lateness is inevitable, so it’s important not to come across as heavy-handed when employees are late now and again.

That said, occasional lateness can become the norm if an employee gets the impression that you don’t pay attention to their arrival time.

Take a gentle approach to start with. Make a point of saying ‘good morning’ or walk past your employee’s desk when they stroll in late. This is a subtle way to show them you’ve noticed. Often, this will be enough to encourage them to apologize or offer some kind of explanation.

This kind of personal approach shows that you’re paying attention without your employees feeling as though you’re watching their every move.

Step 3: Gather Evidence

Some lateness is inevitable, so you should follow your instincts when it comes to how to manage your employees. But, showing that you notice employee punctuality, or lack thereof, is not always enough.

If lateness starts to become a habit or you spot patterns emerging, it’s important to find out if there is a reason behind an employee’s tardiness. You need to know if this is going to be a problem in the future.

Remember to be consistent. If you approach one employee about lateness, he or she may insist that their colleague is late more often than they are. Have documentation ready comparing all your employees as evidence to back up your concerns.

Step 4: Be Proactive

Be proactive and address the problem as soon as possible. Once you feel that your employee has arrived late too often for it to be excusable with a simple apology, approach them for a one-on-one meeting.

Avoid reacting in anger and don’t threaten or shout at the employee. Instead, take a calm approach as a way to stop this chronic lateness before it gets out of hand.

Your employee might be a great fit for the company, but if their lateness is an issue then it’s time to say something. Remember, it’s the behavior you have a problem with, not the person.

Step 5: Encourage Communication

When you speak to your employee about their lateness, it shouldn’t be a one-way conversation where you reel off the times they’ve been late and reprimand them.

Instead, it should be a chance to open up a dialogue between you and your employee about their lateness with the aim of reaching an understanding.

Start by explaining your concerns and cite specific examples from the evidence you’ve gathered. Express your disappointment in their behavior and detail how it has affected their colleagues and the business as a whole.

Then, ask your employee to explain what is preventing him or her from arriving on time. Allow your employee to take in what you’ve said and respond. Be ready to listen. Your employee is more likely to open up if your approach is fair.

Step 6: Find a Compromise

Taking the time to listen to your employee avoids the possibility of acting in haste. You may discover that their lateness is due to family problems or a medical issue. In these cases, finding a compromise is the best solution for all involved. This could be a later start time or a more flexible work schedule.

If your business can operate with more flexible working hours then this could be a good compromise for all employees.

You might try meeting your employees halfway. For example, while you may want a no-tolerance policy when it comes to arriving on time for meetings, you could consider flexible arrival times in the morning.

A great way to make sure everyone is on the same page, even with flexible working hours, is with a time tracking plan by Timeclock Hub. This gives all your employees the tools to be transparent about what they’re working on and when, keeping them accountable for their time on the clock.

Step 7: Discipline When Necessary

If you’ve tried all the above and your employee still isn’t towing the line then it’s time to act. No manager likes this part, but sometimes, discipline is the only way to get your point across.

Use your discipline progression as a guide. When you give your employee their first verbal warning, inform them that the next step will be a written warning.

If this employee is late again, all parties will know what action you will have to take. Hopefully, this should get your employee’s attention enough for him or her to be on time in future.

Your Step-By-Step Guide to Dealing with Late Employees

With an open and understanding management style, and a willingness to be flexible when it comes to what suits your employees best, late employees should hopefully be a thing of the past.

Remember, it’s important to reinforce change with praise. If a chronically late employee starts showing up on time, show them that you appreciate their efforts.

Check out our other business posts for more work-related advice, or contact us for more information.

5 Types of Commercial Real Estate Loans

Is your business in need of a commercial mortgage? Here are 5 types of commercial real estate loans you should consider for your business.

Are you looking to create or expand a business? If so, you may need a commercial mortgage.

Just like regularly mortgages, commercial real estate loans can feel tricky to understand and maneuver.

These loans don’t have to be complicated though. Commercial loans are simple enough to understand if you do a little research.

When seeking out a commercial loan, you’ll want to make sure you get the right kind. To help you in your decision, we’ve created this handy guide. Keep reading for more information on five types of commercial real estate loans that you should know about.

1. SBA 504 Loan

SBA loans are loans offered by the Small Business Administration. The 504 loans offered by the SBA apply to real estate or equipment that is owner-occupied.

When you take out a 504 loan you’re actually getting a loan from two parties, not just one.

These parties are a Certified Development Company (CDC) and a bank. Each party pays a different amount.

You’ll have to put down at least 10% to secure the loan. This is your down payment. The CDC covers up to 40% and the banks covers the rest.

This type of loan is for large sums of money, from hundreds of thousands of dollars to several million.

You’ll have different interest rates for each lender. The CDC will provide a fixed rate on your loan is processed and finalized. The interest for your bank loan will probably be a variable rate, though.

SBA 504 loans for real estate allow for a maximum term of 20 years. Visit Mortgage News Channel to find out more about 504 loans.

2. Traditional Commercial Mortgage

If you’d like to fund your real estate operations without the help of the Federal government, a traditional commercial mortgage may be right for you. This type of loan allows for purchasing and renovating many types of real estate properties.

Do you need to purchase a warehouse so you can expand your business’s offerings? Or are you interested in a retail center? You could use a traditional commercial mortgage for both of these.

Keep in mind though, the property in question will likely need to be owner occupied to qualify for a traditional commercial mortgage.

With this type of loan, you’ll need a down payment worth at least 15% – 35% of the purchase price. This is higher than an SBA 504 loan, which has a down payment minimum of 10%.

Don’t be too disappointed if you aren’t approved for a traditional commercial mortgage. In general, this type of loan is harder to qualify for than other types.

3. Bridge Loan

If you’re looking for quick money, a bridge loan is the way to go. Bridge loans provide immediate funding for commercial projects. They’re used for quick projects, or they help cover the gap before long-term financing is approved.

Bridge loans are temporary loans. This is due to their short-term lengths. Much shorter than typical mortgages, bridge loans must be repaid within six months to two years.

You’ll have to secure this type of loan through a private lender, not a bank. You’ll need to prove your income and have great credit scores.

While you’ll have to put more down, traditional mortgage loans are processed more quickly than 504 loans. You’ll be approved in 30-45 days instead of 60-90.

4. SBA 7(a) Loan

Like the SBA 504, the 7(a) loan is a mortgage supported by the Small Business Administration.

They’re more common than the 504 loans, but they’re typically for smaller amounts.

7(a) loans help with purchasing and refinancing commercial properties that are worth $5,000,000 or less.

You’ll need around 10% – 15% of the total purchase price to use as a down payment, and approval will take 60-90 days. In some cases, the down payment is waived.

To get this type of loan you’ll also need credit above 680 and more than three years of business history.

7(a) loans can be used for several commercial operations. This includes land purchases, building purchases, new construction, or renovation.

Borrowers can expect a dependable payment each month and a term of up to 25 years.

5. Hard Money Loan

Like a bridge loan, a commercial hard money loan is a short-term option and may be used in conjunction with a long-term loan. As a business owner, you could take out a hard money loan to purchase or renovate a property. Then you’d refinance with something longer-term.

Hard money loans are good options for business purchases that need to be made quickly. Term length is short, only one to three years, but so is the approval period. You could have funding in your pocket in as little as ten days.

Hard money loans aren’t available to everyone, though. You’ll still need decent credit, with a score of 600 or above. And you’ll need to have a minimum of 15% – 35% to use as down payment.

The interest-only payments that come with hard money loans may be a big draw. You won’t have to worry about the total amount of the loan until the loan term ends.

Commercial Real Estate Loans Aren’t Complicated

There’s a lot of information to go through, but when it’s all boiled down, commercial real estate loans are simple. You just need to do some quick research and comparison.

With so many commercial real estate loans to choose from, there’s one that’s sure to fit your needs. Consider your specific situation and look for options that are a good match. Whether you need short term or long term financing, you’ll be on your way to realizing your real estate dreams.

 

Are you looking to build your business’s budget? Click here to learn how.

How to Sell Merchandise Online: 5 Tips for a Successful Store

Do you want to get into the ecommerce game? It’s a growing industry with a lot of opportunity. Here are 5 tips to help you learn how to sell merchandise online.

In the US, eCommerce makes up 10% of annual consumer spending. That growing market share shows no signs of slowing down.

What that means for you is that if you can find ways to maximize your online sales presence, you stand a very good chance of capturing a massive amount of the $60,000 per year the average consumer spends on goods and services.

Therein lies the aim of this article, to teach you how to sell merchandise online.

In it, we will share some practical tips that will take your eCommerce success to incredible heights!

1. Pick a Great Niche

There’s no micro question that’s more important to answer when addressing the macro question of how to merchandise online than, “What is my niche?”

Your niche is the area that you’ll be focusing on to figure out what products to sell and who to sell to.

For example, if your niche was “pets”, right away you have ideas as to who your consumers are (pet owners) and what products you could sell (food, toys, etc.).

When selecting your niche, we recommend that you pick something you’re passionate and knowledgeable about, something that has good market potential and finally, something that is not too broad.

Again, to our pet example, you could have your niche be just “pets” but that would open you up to a wide variety of products and customers. Lizard owners, dog owners, cat owners… you get the picture.

What if instead, you narrowed your niche to the organic Dog market. Targeting that market you’d be selling to health and eco-conscious dog owners and instead of investing in broad products you could focus your efforts on natural, fair-trade toys and healthy pet food.

Being specific with your niche lets you build a brand, refine your package design and inventory and makes your online journey a lot simpler.

2. Choose Your Sales Platform

Now that you know what you’re selling and who you’re selling to, you know need to figure out the “how” in how to sell merchandise online.

Fortunately, there are a lot of options out there in the way of sales platforms.

You can use eCommerce plugins like WooCommerce on a self-hosted WordPress site. You could sell through marketplaces like Amazon or eBay. You could even look into a variety of easy online store builders like Shopify, Squarespace, and others.

At the end of the day, you’ll want to pick a platform that is a match for your technical skills and offers you the best deal as far as fees are concerned.

Are your online store grows, do your best to move towards selling through your own self-hosted website if you don’t start there from the get-go. Self-hosted platforms give you the most flexibility as far as your store is concerned and will cost you the least amount of money in fees.

3. Make Your Checkout Process Seamless

No matter which sales platform you use, you’ll want to make sure that its checkout process is as fast and as easy as possible.

Online sales juggernaut BigCommerce estimates that something as small as a 1-second delay can lead to a large company losing millions of dollars a year. For that reason, you’ll want your shopping cart to ask a minimum amount of questions and get people to complete their purchase quickly.

4. Offer Outstanding Customer Service

There are almost 30 million small businesses in the United States alone. That means cut-throat competition and a ton of other people offering the exact same products and services you do.

In order to stand out among all of that clutter, it’s important to knock people out with superb customer service.

When people want to return something, make the return process seamless. When they have questions, answer them in a timely fashion.

Even if difficult customers grind your gears, it’s important to do everything in your power to make their buying experience as beneficial to them as possible.

Happy customers mean good reviews. Good reviews can make or break your business.

5. Market Like Crazy

Our final and perhaps most important point on how to sell merchandise online is to be prepared to market yourself like crazy.

When people approach the question of how to sell merchandise online, they often think that it’s as easy as having a quality product and putting themselves out there. While those are both important pieces of the puzzle, given the fact that there are 1.9 billion websites online, it’s extremely hard to cut through the clutter without a solid marketing plan.

For that reason, you’ll want to get antiquated with SEO, develop a solid social media strategy and even invest in PPC ads to really maximize your business’ growth.

A little bit of time and money in marketing can equal a whole lot more in sales. Because of that, you should never be afraid to invest when it comes to marketing your products.

Wrapping Up How to Sell Merchandise Online

If you’re looking to find out how to sell merchandise online to take advantage of the tremendous opportunity in eCommerce, we recommend taking seriously our list above.

Our tips, when leveraged correctly, can give you the foundation you need to get online and dominate a market fast!

Want more of the best information online on how to build a business, create an amazing lifestyle for yourself and more?

If so, check out more of our articles on We Are Augustines. Our team is committed to providing you with an unmatched online magazine experience that will always keep you coming back for more.

 

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7 Tips for Getting Construction Insurance for Your Business

As the owner of a construction business, you could be liable for a lot of damages. Click here to get some tips on getting construction insurance.

There’s no doubt about it, there’s potential for damage and accidents in construction. So, if you own a construction company, you’ve got to have insurance.

Insurance will protect you and your company from paying huge amounts of money should unfortunate events occur. But what insurance do you need?

Choosing the right insurance is important. The wrong kind won’t cover all your needs. To help you make the right decision, here are seven tips for choosing and getting construction insurance for your business.

1. Know What You Need

When choosing insurance, you need to choose the coverage that applies to your needs. So before you even start to look at insurance options, take stock of what you need to have covered.

Will you have employees? Then you’ll probably need worker’s comp.

If there’s potential for injury of yourself, owners, or anyone else, you’ll need insurance that covers that. And since you’re in construction, you’ll want insurance that covers any accidental damage that may occur.

There are lots of options when it comes to insurance. Though one may sound like a great deal, check what it covers first. There’s no point to paying for insurance that doesn’t cover your needs.

Assess the level of risk involved, too. The greater the risk for a problem to occur, the more likely you are to need insurance for that problem. Consider how much coverage you may need so your coverage applies to the extent you need it to.

2. Compare Providers

Multiple insurance providers will have the coverage you need at reasonable rates. So how do you choose the right one? A little research can really go a long way.

Compare all providers you’re considering using. Once you’ve found a few who offer what you need at rates you find acceptable, start comparing the providers to each other.

Do any of them offer additional perks or coverage over the others? If so, you may want to go with that provider.

But their offerings aren’t all you should be concerned about. You need to make sure you choose a trustworthy, reliable provider.

Check the Better Business Bureau to make sure the provider is in good standing. Read customer reviews and testimonials. Even better, talk to people who have personal experience using the provider.

Choose a provider you feel comfortable trusting and who you feel will deliver when you need them.

3. Learn from Experience

As you work on projects, you may realize there are holes in the insurance policy you’ve chosen. You may have done your best to choose a great plan, but you’ll really learn the most about your coverage when you have to use it.

If, during the course of your work, you feel that your coverage is lacking, don’t disregard the feeling. Take note of what’s missing and address it.

This may mean contacting your insurance provider and changing your coverage. Or, it may mean switching providers.

While making changes to insurance may seem like a hassle, it’s worth it. Especially if you can get the coverage you feel you don’t currently have.

4. Know Your Coverage

As a business owner, you’ve got to be familiar with your insurance coverage. And, we don’t just mean the main parts of it.

You need to know every detail. That means you’ve got to read the fine print. You’ve got to remember it, too.

You’d like to think your insurance provider will be honest and correct whenever you need them, but that may not be the case. Mistakes happen, so make sure you follow up when coverage is needed.

Make sure each incident is covered the way you were told it would be in your policy. You’re paying for it, so make sure you get the coverage you agreed to.

5. Use a Broker

Wading through lots of insurance providers can be daunting and not very fun at all. To make things easier for you, use a broker or insurance specialist.

These people specialize in the type of insurance you’re looking for. They’ll know which providers and plans match what you’re looking for. This will save you a lot of time shopping and comparing.

Just like with the insurance company though, choose a broker or specialist that you trust and who has your best interests at heart.

6. Choose Extra Protection

Don’t skimp on the coverage when choosing a policy. It’s better to choose one that covers more than you need than less.

Start with the basics like general liability insurance, commercial auto insurance, and worker’s compensation. Build everything into your policy that you’ll need.

Once the basics are covered, look at your extra coverage options. If options apply to what you and your business do, it may be worth your while to add them.

7. Include Prior Acts Coverage

To give yourself the best protection, make sure you include prior acts coverage in your policy. This coverage covers claims that may come from past work.

When you set up a new insurance policy, it probably won’t cover work that you’ve done before that point. That’s why prior acts coverage is helpful. If any claims are made for work that was done before your policy started, it will be covered under prior acts coverage.

Offer Construction Bonds

Beyond insurance, make sure you’re offering bonds to your clients. They’ll want to know you’ll stick to your word and get everything done in budget and on time.

Bonds provide protection for both you and your client. You can discover more here about bonds and how they can help your construction business.

The Best Construction Insurance

Construction insurance isn’t a one-size-fits-all kind of thing. So when choosing insurance, you’ll be the best judge of what coverage is best.

Take your specific needs and circumstances into consideration, research plans, and providers, and choose the ones that are the best fit. Insurance is a must in construction, so get out there are find a plan that works for you.

Do you wonder what types of tools you’ll need to get your construction jobs done? Check out our article on choosing a trommel machine.