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Avraham "AY" Rappaport, CLTC
President, Financial Professional
Yaniv "Jay" Natanov
President, Financial Planner
Eli Rappaport
Vice President, Financial Planner
Shlomo Rosenstein
Financial Professional
Ozzie Marizan
Financial Planner
Joseph Greer
Employee Benefits Administrator
Dylan Pinsky
Client Relations Manager
Premier Financial
6395 Dobbin Road, Suite 102
Columbia, MD 21045
Phone: 240-309-6001
Email: dylan.pinsky@prudential.com
Website: premierfinancial1.com
January/February 2022
Protect Yourself with Business Insurance
Running a small business can be challenging enough without worrying about unexpected events that threaten your company and your livelihood. That’s where business insurance can help. Business insurance protects both your personal and business assets from catastrophic events, such as a fire, or from liability due to bodily injury, property damage or product defects.
Several Options
Insurance companies offer several types of business insurance: general liability, which includes protection from financial loss resulting from bodily injury, property damage, medical expenses, lawsuits, judgments, etc.; commercial property, including damage to property from weather events, civil disobedience and vandalism; product liability; professional liability; home-based insurance; and businessowner’s policies. Minimal coverage for owners of small businesses to consider include a businessowner’s policy and home-based business insurance.All in One
A businessowner’s policy (BOP) offers protection from all major property and liability risks in one policy. Combining coverage under one umbrella may save you money. BOPs provide protection in the following areas:- Property insurance covers buildings and their contents owned by the business. A businessowner can choose either standard coverage or more comprehensive special coverage.
- Business interruption insurance covers the loss of income as a result of a major catastrophe, such as a fire, that prevents your business from continuing to operate. The policy may also cover expenses incurred while operating your business from a temporary location.
- Liability protection covers financial loss to your business resulting from bodily harm or property damage caused by defective products, faulty installations or errors in services provided.
A BOP does not include professional liability coverage, which protects against financial loss resulting from malpractice, errors and negligence. Businesses that provide services to customers may want to add a professional liability policy to their other coverage.
When You Work from Home
Small business owners whose business is run out of their personal homes may want to consider home-based business insurance. Coverage is added as a rider to a homeowners policy and provides liability coverage for third-party injuries, as well as protection for a small amount of business equipment.Protecting your personal and business assets from financial loss should be one of your top priorities as a small business owner.
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Premier Financial is not affiliated with Prudential Financial. Premier Financial sells insurance products of Prudential Financial's affiliated insurance companies in addition to products of non-affiliated insurance companies. Premier Financial is authorized to sell and service certain insurance products of Prudential Financial companies as well as use this material. Premier Financial and its representatives do not give tax or legal advice. Please consult with your own advisors regarding your particular situation. Offering financial planning and investment advisory services and programs through Pruco Securities, LLC (Pruco), under the marketing name Prudential Financial Planning Services (PFPS), pursuant to a separate client agreement. Offering insurance and securities products and services as a registered representative of Pruco, and an agent of issuing insurance companies. 1-800-778-2255. Dylan Pinsky is employed by Eli Rappaport and not The Prudential Insurance Company of America or its subsidiaries.
This newsletter is general educational information provided by a Prudential Financial Professional and is not intended to market or sell any specific products and services, but rather provide general information about the subject matter covered only.
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