Author: Creative Programs and Systems - page 296

Choosing Your Level Of Risk To Protect Your Business

Posted on by Creative Programs and Systems

There are so many benefits to owning your own business.  On the other hand there are some major drawbacks as well.  One major disadvantage to owning your own business, especially a small business is the risks involved.  When it comes to the risks involved in owning your own business there are a few ways to deal with it.  The first and worst method is to just accept all the risk and face the consequences when something happens.  The second method is to approach risk and to eliminate and manage as much of it as you can.  The third approach in handling the risk involved in business is to purchase an extensive and all encompassing insurance policy.

There are advantages and disadvantages with each approach.  For instance in the first method where a business owner chooses to do nothing but accept all the risk and consequences involved the advantage is the initial savings in overhead spending.  If you don’t do anything to manage or insure the risk it will cost you nothing, to begin with at least.  The problem with this approach, especially in business is that you are risking your livelihood, the way you bring income in that supports the rest of the things in your life.  Without the ability to make money you put yourself a t risk for bankruptcy and worse; a lifetime repaying a debt that could have been avoided.

The second method of dealing with the risks of owning your own business is with managing or eliminating the risks.  This approach in handling business risk involved decreasing the risk associated with your business practices.  Risk management in short involves a regular review of company procedures and making sure that policies are in place that reduce and eliminate the risk to your staff, customers and business in general.  This could be something as simple as replacing the batteries in your fire detectors to something more complicated such as credit management and debt collection policies and procedures.

Handling risk in business with proper insurance coverage seems like a no brainer for some but others do not see the importance of paying extra premiums for special business policies.  The fact is that most businesses operate with risk.  Insuring your risk alleviates the burden of litigation and repayment from falling all on your shoulders.  Insurance premiums for businesses vary from general liability to workers compensation to product liability.  There are a wide range of insurance policies for businesses.  Not every policy applies to every business and industry.  It is important when seeking insurance coverage for your business to meet with an insurance company that provides comprehensive business insurance coverage for a variety of industries.

When it comes to approaching risk within business the best approach is most likely a combination of both risk management and insurance.  When used in combination you can decrease the risks involved in your business and hopefully this will decrease the chances of needing expensive comprehensive insurance.  A prime example of this in action is adding an alarm system to your business decreasing insurance premium costs while decreasing the chance of loss due to theft.  Owning your own business is a balancing act and handling the risk involved in business is all about a well balanced approach of managing and insuring risk.

For more information on business insurance throughout Livingston County, MI contact Cobb-Hall Insurance. We are experts in all types of insurance needs and look forward to helping you with all of your insurance needs. Check us out online at http://www.cobbhall.com/business.php

Cobb Hall

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Small Business Liability Insurance Buying Tips

Posted on by Creative Programs and Systems

Is it important that small business owners have general liability insurance?  Many smaller companies believe that they can operate without insurance.  Small companies are always looking for ways to cut costs and decrease their operating budget but cutting insurance costs is not the best way to accomplish this.  Business insurance protects small business owners from a variety of frivolous lawsuits that are brought against business owners on a daily basis.

When a lawsuit is brought against a small business owner defending the claim alone is often enough to leave a small company with a severe debt if not the need to file for bankruptcy protection.  A great way to avoid this happening to you is to purchase liability insurance for your small business. The small amount of money that is put out to cover the costs of the insurance policy annually could save your business one day.  The insurance premium that is charged will depend on the type of insurance and amount that is needed to properly insure your small business.

To find a great rate on small business insurance premiums you may need to shop around.  Be careful when shopping different insurance companies because many times a significantly lower premium also comes with a considerably inferior policy.  Not all insurance policies are created equal so be sure to know exactly what you are paying for and exactly what is covered.

The rate should not be drastically different from company to company for the exact same coverage.  Do a side by side comparison of the policies you are considering and analyze the service provided by each company.  Sometimes you will find the extra cost is worth the more personal attention you receive.  This will be especially important if you are ever in need of using the policy.

Another consideration is instead of buying several different business insurance policies to cover the various needs you have with to insure consider a business owners policy.  A BOP is a package of insurance policies related to your business industry.  The one tip you will need when purchasing a BOP is to make sure that the coverage meets all of your business needs.  If it does not cover an essential item need in your business coverage you will be better suited to look into individual policy coverage.  Buying all of your business insurance policies from one insurance company often saves you a percentage of the premium as well; this is considered a multi policy discount.

Another tip that is important when choosing a company to handle your business insurance needs is industry settlements.  Unfortunately there is a chance, a considerable chance that the insurance policy will be needed at some point during the process of operating your business.  This will give you look at what your needs are when it comes to settlements and dollar amounts that have been awarded as well as the reasons for the lawsuit and settlement.  Consider your business insurance doesn’t only cover you for costly litigation it also provides a solid foundation on which to build the success of your business.

For more information on business insurance throughout Livingston County, MI contact Cobb-Hall Insurance. We are experts in all types of insurance needs and look forward to helping you with all of your insurance needs. Check us out online at http://www.cobbhall.com/business.php

Cobb Hall

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The Final Steps To Buying Your New Home

Posted on by Creative Programs and Systems - Updated

After you have gotten your financial house in order, met with a realtor and narrowed down your objectives it is time for the fun part of buying a home.  It is time to sort through the list of inventory available that meet your criteria and actually start to scope houses out.  Your realtor will get a list of homes currently on the market for sale with your objectives in mind and the process of finding the perfect home will begin.

Your realtor will begin showing you houses that meet the criteria.  These homes will be homes that have most everything you are looking for, in your price range while staying in the area that you are hoping to purchase in.  When looking at these homes keep a detailed log of each home. Bring a camera along to document the good and bad points in all of the homes you are seeing.  It can become overwhelming to keep track of everything if you don’t document it somehow along the way.  The first day out is especially taxing; there is so much to consider.

If you have exhausted the list of homes that met your criteria but aren’t meeting your expectations it may be time to reevaluate.  This happens more often that one would think in buying a home.  At first you make think it is so important to have a lake front home however when searching lakefront homes you realize what is really important is land.  To find land and a lakefront might take time; time might not be an option for you.  Priorities change when you are actually exploring different homes.

Make sure that you keep open lines of communication with your realtor.  If the real estate that you are being shown is in the not what you had envisioned you need to tell your agent sooner rather than later.  It is a waste of your valuable time to be shown homes that you are totally not interested in.  This also may be the time when you start doing driving by the property before your realtor sets up viewings.

Before you know you have found the home of your dreams!  Now comes the part that most home buyers and sellers for that matter dread; the offer and acceptance process.  Thankfully real estate professionals are there to guide you through this process.  This process goes much smoother if both the seller’s agent and the buyer’s agent work with their clients on bring reasonable demands and expectations to the table.

After your offer has been accepted you move on to the final steps in the home buying process; inspection, title, appraisal, insurance, escrow and closing.  The final step moves fairly quick as you are preparing to move, setting up utilities and handling all the unexpected events that come with buying a home.  A lot of the final steps are behind the scene and won’t involve a lot of input from you as the buyer.  Your agent and mortgage lender will handle many little details in order to make the transition of ownership easier.  Before you know it you will have the keys to your new home in your hand and will be knee deep in excitement making your new home yours!

Lake and Land Real Estate is Livingston County’s premiere realtor out of Pinckney, Michigan serving homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Hamburg, Pinckney and Howell. Information can be found at http://www.lakelandmi.com/buyers-resources.php

C21 Lady of the Lakes

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The Complicated Middle In Between Thinking About and Actually Buying A House

Posted on by Creative Programs and Systems

Once you have the basics covered the next step in purchasing a home is to determine your exact financial situation.  At this point you have gone through your wants and needs in a home.  You have also gotten a basic foundation established of how much you have for a down payment as well as home much you want to spend each month as far as a mortgage payment.  This is the point you need to get down and dirty with your finances.  This is the point in which you retain a realtor that is willing to help you get what you want and a mortgage lender that will address how much you can afford.

To establish a foundation with your finances you must first start by getting a detailed copy of your credit report. The hope is that the report is above 720 if it isn’t you need to work to correct issues that with errors in reporting as well meeting with a financial advisor that can help you increase the rating.  Some tips that may come from meeting with an advisor could be paying down your credit cards or increasing the amount of money you earn.

Getting your financial house in order involves saving for a larger down payment.  A ten percent down payment is standard however some lenders are more apt to provide a lower interest rate to buyers who have a larger down payment. Consider putting twenty percent down to decrease your mortgage interest rate.  When thinking about a larger down payment take into account that you will have closing costs that creep up, expenses for moving as well as the surprises that aren’t accounted for during the inspection process.

Find a mortgage provider that you like once your credit score is in order and get pre-approved.  This will give you a limit on what you can spend on a home.  This is the upper limit on what you can afford.  Most home buyers should seek to find a home for at least twenty percent less than what they are pre-approved for.  Otherwise you are placing yourself in a tight position when it comes to the amount of your monthly mortgage payment.

You should also discuss with your mortgage provider the process of actually getting a loan as well as the different options in mortgage loans available to you.  Key factors involved in determining what loan type is right for you are the following: the required down payment, the interest rate, the costs and fees involved in closing the loan and secondary requirements from the actual lender.  Secondary requirements can include flood insurance, private road agreements, self employment documentation and such. This secondary information is all necessary documentation outside of the cookie cutter information needed for most mortgages.

Different types of mortgages available from lenders can include conventional, adjustable rate, FHA, VA, assumable, balloon and private mortgage insurance.  These are a variety of mortgages to look into and to understand before moving forward with any one type of mortgage.  The process of buying a home requires a whole lot of work before looking for a home can even begin. A reputable realtor will help you with this entire process even before showing you a single home and a mortgage lender will help explain anything and everything you need to know before supplying you with the right loan for your need.

Lake and Land Real Estate is Livingston County’s premiere realtor out of Pinckney, Michigan serving homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Hamburg, Pinckney and Howell.  More information can be found at http://www.lakelandmi.com/buyers-resources.php

Lake and Land Real Estate

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Beginning The Process Of Buying A Home

Posted on by Creative Programs and Systems

The purchase of a home is both exhilarating and challenging.  Owning a home comes with an assortment of benefits both financially as well as personally.  The benefits financially range from building equity to tax deductable interest.  Personally the benefits can range from the satisfaction that comes from ownership as well as the stability that it gives you. To give yourself the financial and personal benefits of owning a home you need to get started; below are some tips on finding the perfect home for your needs.

First things first you will need to get your finances in order.  You need to know what you currently have, what you will have coming in and what you will have in the future. This will vary from person to person.  Some people will be working with equity that has built up in their homes, others will work from their savings alone and some will work in combination of resources to obtain a reasonable down payment.

Once you have established a down payment you have a starting point to where you should be when looking for a home to purchase.  The rule is twenty percent down however mortgage lenders have recently become more lenient with the requirements of what is needed to get a home loan.

A long with what you can afford you need to consider what you want; what are your intentions. Do you need a home to accommodate a growing family; do you need a home to address your need to have accessibility and to age in place?  Is it possible that you need to live closer to work, shopping or entertainment? Did your income increase or decrease; do you need a smaller mortgage payment or more tax deductible interest?  Prioritize your objectives with the purchase of the new home and start looking at other wants and needs.

Consider the style and size of the home that you desire.  Are you willing to purchase a home that needs time and sweat equity to be perfect but is the right size or do you want a home that is perfectly kept but a bit smaller than you would like. Do you need a large space outside for entertaining? If you are looking for a home to grow old in you may only need to take into account the fact that your biggest goal is a ranch, a home all on one level.  Is there a certain location that is needed, perhaps by a highway or work? When it comes to location also consider the schools, the commute to work and the neighborhood.

This is just the beginning of buying a new home.  It doesn’t matter if it is your first home or your last the process is the same from start to finish.  The beginning of the home purchase process all starts the same. It is important to consider your finances, your personal preferences, your wants and your needs.  Prioritize what is most important to what is least important for you and choose a realtor that is willing to help you get what you want.

Lake and Land Real Estate is Livingston County’s premiere realtor out of Pinckney, Michigan serving homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Hamburg, Pinckney and Howell.  More information can be found at http://www.lakelandmi.com/buyers-resources.php

Lake and Land Real Estate

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The Importance Of Insuring Your Business

Posted on by Creative Programs and Systems

Insurance is one of those tricky areas.  No one ever really wants to talk about the possibilities of an emergency.  Without insurance be it life, auto home, health or business, everything you own could be at stake for loss.   All insurance is important including insurance for your business.  Business insurance covers your livelihood and the way that you bring in income so this is an incredibly important policy that should be purchased and budgeted for the minute you decide to become the owner of your own business.  Without the ability to bring in income you instantly sink.  It is important to protect your dream.

 

Business insurance is a combination of several different policies combined into one.  Most people are familiar with general business liability insurance.  This is the base policy that can be purchased to protect not only your business assets but also your personal assets in case you are sued and a judgment is placed against you.  It is important to note that even if you are a limited liability company or a corporation you are not always completely protected under the statutory business structure.  Limited liability is not an absolute and extra protection and coverage is needed to protect you and your business.

 

Another policy that can be incorporated into your business insurance is extra coverage to include property and casualty insurance.  This protection covers the location of the business, the physical property as well as the equipment and interior of the space.  Your landlord, if the building is rented, will have insurance to cover his building but this will not include covering your business and expenses.  This will only cover his intentions to rebuild the commercial space.  Your assets are not covered by his insurance policy.

 

Umbrella policies are also something that can be attached to your general business liability insurance.  Umbrella insurance is purchased to fill in the gaps left by other policies.  If a suit goes over the amount of your general liability insurance, an umbrella policy can be used to fill in.  This is a necessary policy to carry along with liability insurance especially in high risk industries where the risk of something catastrophic is greater.  Obvious difference in industries such as web development over pharmaceuticals exist and should be covered as so.

 

Workman’s compensation insurance is another area that businesses should not be without extra coverage.  A workers compensation policy will cover you if any of your employees is injured on the job. It will cover lost wages and medical expenses on the injured employee which allows you to be able to temporarily employee someone to fill in for the injured employee.  The amount of coverage you will need for workman’s compensation will again vary from industry to industry.

 

Other policies to consider grouping into your business insurance policy are: unemployment insurance, automobile insurance, business interruption insurance, disability insurance and even life insurance.  When looking into different policies to purchase it is important to remember that coverage is necessary and budget accordingly.  Be realistic in the amount of coverage needed as well as the amount the business can afford to spend yearly on its business insurance policies.

 

Cobb Hall

Don’t Neglect The Purchase Of Insurance In Business

Posted on by Creative Programs and Systems

When it comes to owning a business you will improvise a thousand times.  One place you should never get by is when it comes to your business insurance, especially your general liability insurance.  If you are planning on starting a business, insurance is a must.  You need to determine what type of protection you need, how much insurance you can afford and exactly what is required for your industry.

General liability insurance is commonly known as commercial general business liability.  It is meant to be purchased and carried by business owners to protect the company’s assets and obligations. This insurance covers costs related to property damages and injuries that are caused by you or your employees.  Liability policies for business often also cover legal needs including compensation both monetary and punitive.

Another thing that general liability insurance for your business covers is any damages to property against you as a tenant.  If damage is caused to the property in which the business is located liability insurance makes sure you are covered.  This insurance coverage can also protect you and your business in claims of any fictitious or deceptive marketing and copyright issues.

The question isn’t if you need business liability coverage it is how much coverage is needed and what additional policies are needed to make sure your business is completely covered in all cases.  Although you can purchase general business liability insurance on your own, it is not always in your best interest to.  A business owner policy should bundle liability insurance, property insurance, automobile insurance, umbrella insurance, workman’s compensations policies and more to offer your business comprehensive coverage.

How much coverage is needed will depend on a few different factors including the industry in which your business is in, the risks involved, the location and the number of employees on staff.  Take for instance the difference between a web developer and a roofer.  The risks involved with construction far outweigh those of website developers however this is not to say there is no risk in web design, they just vary in severity.  The likelihood a web developer has carpal tunnel far outweighs his risk of breaking his leg whereas a roofers likelihood to fall and seriously harm themselves is greater.  This being stated you can see how the coverage and amount of coverage will vary greatly between different businesses as will the premiums.

Before rushing out and purchasing the first policy offered you must do research and meet with several different business insurance agents to ensure you are getting the right coverage at a reasonable price.  With any product or service what you will pay from one business to the other varies, even when purchasing the same exact product.  When you own your own business you know every penny counts thus ensuring you are getting the most coverage for your money.

Insurance is never important until you need it but of course as we all know it is too late at that point.  It is always imperative to understand what you are purchasing and it could never be truer than when insuring your livelihood.

Cobb Hall

Insuring The Risk Involved In Owning Your Own Business

Posted on by Creative Programs and Systems

As a business owner you take on risks that don’t always meet the eye when you are first diving into starting your business.  One that is often overlooked is the risk you take employing others.  General business liability insurance covers your assets. What type of business insurance protects you against claims when an employee gets hurt on the job?  What protects you and your business from being required to support a claim for wages, benefits and further claims?  The answer is workers’ compensation.

Every business and every job has risk involved. On the job accidents are common and can range from something like carpal tunnel injuries or massive injuries like a machine malfunction causing the loss of a limb.  If someone is hurt at your place of business you will be held accountable for their related medical expenses, income lost and other expenses deemed reasonable.

As a business owner you can insurance yourself from losing everything by adding a worker’s compensation plan on to your business insurance plan.  In fact, each state within the United States has laws in place governing the coverage you must carry to cover your employees.  Insurance coverage will vary from one industry to the next depending on the risks involved within the scope of your business.

Workers ‘Compensation otherwise known as workman’s comp and workers liability are all policies that are carried by business owners to provide protection to the business if an accident does occur and employees are affected.  Most often the policy is carried to provide coverage for medical bills and deductible as well as lost wages during and after the accident until a full recovery can be made.

Most policies also offer coverage that is provided to the owner to cover expenses that occur in legal interventions if a claim is filed.  This is referred to as employers’ liability insurance.  It covers the cost of attorney’s, court costs, docket fees and more. The most important part of any business insurance policy is the coverage it provides to you as a business owner.  Your business is your livelihood and needs to continue to thrive.  Your business not only provides for you but for all of the other you employ as well.  You want to be covered to prevent a simple accident from eliminating your livelihood.

Typically several different coverage options can be added on to a basic workmen’s compensation plan.  One option is to cover employees that work in other areas, even states, beyond the normal day to day operations of the business.  There is coverage that may not be mandated but that can be purchased to cover certain illnesses and coverage that covers dependants if a fatality is suffered by a dependant on the job.

The point is that workmen’s compensation is not optional when it comes to buying business insurance.  The amount and types of coverage above and beyond what the state has in place as a requirement should be considered if the scope of your industry calls for it.  The better your coverage plan is the better you will be covered is something happens to one of your employees.  Being covered keeps your livelihood safe and allows you to continue to do business.

Cobb Hall

Experience In Roof Maintenance

Posted on by Creative Programs and Systems

Many people can’t tell the roofing contractor just how long it has been since a new roof was put on their home.  For many it is a guess at best.  A roofer will be able to examine the roofing material and structure and give homeowners an estimate.  If you think it has been awhile since your roof has been replaced and you are starting to see wear it is time to bring in the professionals to get their opinion on the likelihood your roof is nearing its last season.

 

Regular roof maintenance is needed to keep major roof issues from becoming a problem.  A new roof is expensive however a new roof structure is more than expensive.  It is important to keep the structural elements of the home intact.  With the seasonal changes we experience in the North our shingle roofs take on more wear and tear than other areas.  It is a good idea to have a professional roofer inspect your roof regularly, especially if you cannot see areas of the roofer to inspect yourself.  This will prevent damages from going unnoticed.

 

If a leak is developing or a crack in the surface of the roof it is an extremely poor attitude to use the wait until it becomes an interior problem approach.  Once a roof leak has led to interior damages you are most likely beyond a minor repair.  With neglect the situation can become one in which repairing the roof is no longer an option and the only thing left to be done is to replace the roof.  It is defiantly more financially savvy for regular maintenance then it is for an entire roof replacement.  With regular maintenance your roof could last five to seven years longer than a roof that is left without any regular care.

 

Roofing contractors specialize in roofs.  This means that the knowledge they have about the structure and materials far outweighs what the average homeowner knows.  Their training allows them to be able to look at different situations and provide reasonable solutions to the issue no matter how large or insignificant a homeowner may consider the issue at hand.  They also have on hand all the tools necessary to complete the job in an efficient manner and to prevent it from arising and causing future issues.  Many do it yourself homeowners don’t effectively know how to go about repairing or replacing a roof and end up with a lot of time and money wasted trying to accomplish the project themselves.

 

Leaving issues of water leakage untreated can lead to bigger problems such as mold and mildew.  Mold is a common problem in attics if a roof leaks and the attic doesn’t have proper ventilation.  This can lead to major structural damage which in the long run can prove to be a fairly expensive mess to treat.  Prevention, early detection and repair are the key elements when it comes to finding roof damage.  Word of mouth and referrals are great ways to find reliable roofing companies.  If you are new to the area you can turn to the internet as well.  Be sure to find a licensed contractor.  You may have to interview more than one to find someone that is perfect for your roofing needs.

 

Home Pro Roofing MI

What Can A Roofing Contractor Do For Your Home

Posted on by Creative Programs and Systems

There are four basic outcomes in the roofing industry; a roofer installs a new roof, replaces an existing roof, repairs a roof or installs venting on a roof. It seems like a simple break down. Everyone thinks roofing must be simple because when you inspect a roof there are only four possible results. However, this is not the case. There are many things to consider when it comes to a home’s roof and these four basic principles are just one side of roofing.

Roofing contractors need to be experts at installing roofs with a variety of different roofing materials. The most common roofing materials to people here in the North is either metal or asphalt shingles. Roofers must establish a technique in which the roofing materials can adhere in the multitude of seasonal weather changes we experience.  Roofing contractors are the designers of the exterior of the home as well. They must compliment the siding with the color shingles desired as well as bringing harmony to the neighborhood. Nothing is worse than one home within the bunch to stick out like a sore thumb.

Installing a new roof is one of the most infrequent jobs a roofer has. When a roofer does work on new construction they are responsible not only for the main roof but also the installation of trusses, framing and shingle installation. Not all roofing companies will have experience in new roof installation so if this is the need you have to fill it is important to find a contractor that has an extensive background in new construction. The roofs structure brings stability to the entire house and needs to be completed with precision and craftsmanship.

If you have an older home you may find yourself in need of a roofer that specializes in roof repairs. Roofs may need repairs for a variety of reasons including missing singles, leaks, warping and weathering. Repairing a roof is a detailed job for a roofer dedicated to repairs. Without being properly completed roof repairs can leave room for future decay and roof failure. Roof repairs are done when the issue on the roof is minor or in cases where homeowners can absolutely not afford to replace the current roof at this time. A quality roofing company will be able to evaluate the damage to your roof as well as the remaining time your roof has before it needs to be replaced.

The most common job a roofer takes on is replacing an existing roof. A roof may need to be replaced for a number of reasons including wear from seasonal changes, natural aging and wear & tear. Roof replacement is a key element in keeping your homes umbrella, in good shape.  This in turn prevents any interior damage to the home, trusses or structure.

A less common repair, if you will call it that is installing ventilation in the roof and/or solar paneling. These both require cutting into the structure of the roof and should only be done by roofing professionals that specialize in these detailed installations.

There is more to roofing than meets the eye. When hiring a roofing contractor you must know what experience the company has. Hiring a company that specializes in new roof installation when you need a spot on the roof repaired might not be in your best interest. Sticking to a roofer’s specialty is always the best route to go.

 

Home Pro Roofing MI