Make Sure Your Hickory NC Business Is Insured
Business insurance helps owners make it through unexpected times of hardship and loss, which could occur at any given moment. One moment, a business could be flourishing and the next moment something completely unexpected could happen. That could have owners reeling and struggling to keep their business afloat. That is where it pays to have adequate coverage when it comes to business insurance.
Jeff Kincaid Insurance in Hickory NC is here to help your business through those tough times. Many business insurance policies often rely upon life insurance or disability insurance as a vehicle to fund the following concepts associated with business insurance. Some of the coverage available through Jeff Kincaid Hickory are as follows:
– These can be funded using a life insurance policy. It is an agreement which basically protects co-owners of a business in the event of death or the parting of ways between owners. The stipulations in these agreements cover such areas as who can buy into the business, shareholder prices and what can be deemed justifiable cause for a buyout.
Overhead Expense Coverage
– This kind of insurance is intended to protect the business owner in the event that he/she becomes disabled. This insurance will prohibit owners from having to dip into their personal savings to protect the business. There are certain business expenses eligible for reimbursement using this form of insurance, including mortgage payments, legal services, utilities, employee benefits and much more.
Key Man Coverage
– Also referred to as key person insurance, this will protect a business in the event of an untimely death to an owner, executive or key salesperson. A death to one of those aforementioned people could bring immediate financial strain to a company, so it is important to have funds to use during that adjustment phase. Key man insurance provides that peace of mind as it aims to protect the business and not the key person of importance.
– Group retirement plans can provide a tremendous amount of advantages for business owners and their employees. It will also help your tax situation as employee contributions to retirement plans are tax deductible. There are a variety of options owners can offer when it comes to 401k, IRA and profit sharing plans. Deciding on the right one could make for a more productive workplace for everyone involved.
Small Business Coverage
– Small business owners should consider a host of different kinds of insurance. The details of your business often determine which coverage may be needed and those details include payroll information, contractual agreements, prior losses and actual building details. Additions to your coverage could extend to areas such as workers’ compensation, data breach, general liability and more.
Jeff Kincaid Insurance in Hickory NC specializes in handling all areas of business insurance. We will walk you through all the details that come with purchasing insurance and make only the most astute recommendations when it comes to coverage. When it comes time to plan for the unexpected, our team can help insure your future.