· Reputational harm: $50,000
· Vehicle accident: $45,000
· Fire damage: $35,000
New and growing risks faced by expanding businesses
As your business grows, your risks change. It is beneficial for business owners to have an understanding of how risks change because of growth.
· Contract disputes increase. Growing businesses often develop relationships without written agreements, resulting in disputes.
· Increased employee litigation. When businesses hire new people, often they overlook proper hiring practices. This often leads to litigation. Make sure your business has an employment practices liability policy.
· Increase in worker injuries. A greater workload leads to increased hours and the possibility of employee injury. Your workers’ compensation policy will cover work related injuries.
· Building damage. Often, growing businesses fail to pay attention to building maintenance, which can lead to all kinds of damage. Read your property policy to make sure you do not void your coverage through lack of attention to safety issues.
Source for article: PC360.com
Here are a few technologies that will help keep your home safe, and will also lower insurance costs.
Security systems -- It seems like everywhere you go, there's a camera capturing images. If you own a smartphone or tablet, you probably have a camera that's built into the device. You can not only secure your home, but actually see what is going on through videos.
Electronic locks -- Nowadays you don’t even need a key to get into your home! These electronic locks can add additional security to your home.
Connected appliances -- Appliances that you can turn off and on from your smart phone not only help with your lifestyle, but also keep your home safe.
Leak detection systems -- Smart homes can be controlled from your phone, and when connected to your home's water and electrical system, can provide you with real-time updates on how these systems are performing. If you are using more water than normal, you will be notified that there is likely a leak present.
Timed lighting -- Having outside and inside lights come on during the evening while you are away deters burglars.
Smoke and fire detectors -- Having good detection systems keeps your family safe and insurers provide discounts for these.
Home weather warning systems -- There are weather warning programs that can detect high winds and identify severe weather earlier than ever.