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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<strong>You</strong> might also want to consider general average insurance. This<br />
protects you in the event <strong>of</strong> someone else’s cargo loss. Say the ship<br />
carrying your containers runs afoul <strong>of</strong> stormy weather.<br />
The captain decides to jettison a portion <strong>of</strong> the cargo to save the rest,<br />
and they dump somebody else’s stuff into the briny deep.<br />
Fine, you say. Not quite. According to maritime law, even though your<br />
merchandise has made it to port safe and sound, you can’t take<br />
possession until you’ve paid <strong>for</strong> your share <strong>of</strong> the loss.
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