3 Types of Insurance You Need for Your Import Export Business
Get the lowdown on the specific types of insurance you need to protect your import/export business. The following excerpt is from the Staff of Entrepreneur’s book Start Your Own Import/Export Business. Buy it now from Amazon | Barnes & Noble | IndieBound You’ll need insurance for many aspects of your import/export business, from employees to cargo. Read on to find out more. Insuring your employees Once you hire employees, you’ll need to think about caring for them. Workers’ compensation insurance laws vary among states; check with your insurance agent for details in your area. Workers’ comp covers you for any illness or injury your employees might incur on the job. If your employees work in your home office and get injured there, your homeowners’ insurance may refuse to pay on the grounds that it’s actually a workers’ comp case. Check with your insurance agent regarding what you need, then make an informed decision. Continue reading... Source: https://www.entrepreneur.com/article/288063
Get the lowdown on the specific types of insurance you need to protect your import/export business.
The following excerpt is from the Staff of Entrepreneur’s book Start Your Own Import/Export Business. Buy it now from Amazon | Barnes & Noble | IndieBound
You’ll need insurance for many aspects of your import/export business, from employees to cargo. Read on to find out more.
Insuring your employees
Once you hire employees, you’ll need to think about caring for them. Workers’ compensation insurance laws vary among states; check with your insurance agent for details in your area. Workers’ comp covers you for any illness or injury your employees might incur on the job. If your employees work in your home office and get injured there, your homeowners’ insurance may refuse to pay on the grounds that it’s actually a workers’ comp case. Check with your insurance agent regarding what you need, then make an informed decision. Continue reading...
Source: https://www.entrepreneur.com/article/288063
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Let’s look at another scenario. Say the other party in your transaction<br />
has purchased insurance -- <strong>for</strong> example, the exporter who’s shipping<br />
to you CIF (cost, insurance and freight) but you’ve got a funny feeling<br />
that their coverage isn’t too reliable.<br />
Not to worry. <strong>You</strong> can purchase a contingent policy, which is about<br />
half the price <strong>of</strong> regular insurance and will serve as backup insurance<br />
in the event <strong>of</strong> a catastrophe.
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