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Arkansas Insurance Blog

Financial Insurance for A New Business Owner

Financial insurance provides peace to business owners by shielding them from unexpected losses. Discover how this insurance type can be advantageous if you are a burgeoning business owner.

Understanding Financial Insurance

Financial insurance serves as a safety net for business owners against unforeseen damage. This coverage prevents a business from being hampered by potentially crippling losses. The extent of coverage ideally offered by financial insurance should correlate with the scale of the business and the recurring revenue.

Coverage Against Contractual Loss

Financial insurance coverage can prove vital in preventing an owner from bearing contractual losses. In the event of a contractual agreement with a partner, this coverage ensures that all contractual expenses are met, even if the partner fails to adhere to the contract’s outlined obligations.

Shielding Stock Values

A financial insurance policy can act as a buffer to protect stock values. If the worth of stocks plummets significantly, the insurance coverage can avert a potential financial loss for the business owner.

Bankruptcy Protection

Under certain conditions, financial insurance coverage can offer protection in the event of bankruptcy. This provision allows business owners to continue their operations without any interruption due to bankruptcy.

Assessment of Needs

As a new business owner, evaluating your business plan and examining your annual revenue is crucial. This assessment will aid in determining the relevance and aptness of financial insurance for your business.

Contact Adams Insurance & Financial

Having reviewed this concise information on financial insurance, it’s time to take the next vital step. Contact one of our representatives at Adams Insurance & Financial. A representative who serves Northwest Arkansas will help you determine the right insurance policy tailored to your new business.

How Can an Agent Help With Life Insurance?

Find the Right Life Insurance Coverage with Adams Insurance & Financial

If you’re in Northwest Arkansas and considering life insurance, Adams Insurance & Financial can guide you to ideal coverage. A life insurance policy doesn’t just offer protection; it gives your family future security and peace of mind.

Work with Dedicated Agents

Reach out to our agents, and you’ll have a knowledgeable advocate by your side. They’ll discuss your needs and help you decide which coverage and level best suit you. Considering upcoming major life changes like buying a house, getting married, or starting a family helps the agent tailor the best policy for you.

Navigate Life Changes with Confidence

As you navigate life’s twists and turns, updating your policy ensures continued security for your family. Building a relationship with your insurance agent makes these updates easier, ensuring you’re adequately covered in the long term.

Reach Out to Us Today

Contact Adams Insurance & Financial if you’re in Northwest Arkansas and looking to secure your family’s future with life insurance. We’re here to help you feel confident in the policy you select. Discussing life insurance may not be comfortable, but it’s crucial for your loved ones’ future protection. Let us provide the options you need to find the right coverage.

Is It Time to Review Your Auto Insurance Policy?

If you’re in the Northwest Arkansas area and in need of an auto insurance policy review, Adams Insurance & Financial can help. We understand the importance of quality auto insurance and how easy it is to get a policy and then just keep letting it renew. But you may need to make adjustments or updates to it, which is why it should be periodically reviewed. Our trusted agents can help you review your policy to ensure that it’s the right one for your current and future needs.

Reviewing Your Auto Insurance Policy

You don’t have to just assume your policy is the right one for you, even if it was a good choice when you first got it. Needs change over time, and so do policies. You could have less protection than you need or even have coverage in areas you don’t want it. We can help you make changes to the types of coverage you have, along with the levels of coverage, allowing you to feel more confident and protected moving forward.

With dedicated agents on your side, you can compare quotes from insurers to see if your policy is still the best choice for your vehicle and how you use it. Then you’ll have the knowledge you need to make an informed decision, along with the peace of mind that brings.

Consult With Us

Get in touch with us at Adams Insurance & Financial today if you’re in the Northwest Arkansas area and looking for an auto insurance policy review. We can help you determine whether your current coverage is right for your needs or whether making changes would be better. You might even need an entirely new policy, and we’re good at helping with that, as well. Working with us is the right choice to meet your insurance needs.

Why Does My Business Need Commercial Insurance Beyond General Liability

Some entrepreneurs believe that their business does not need insurance beyond general liability. The fact is, that many mishaps can occur during the course of normal business operations. If you have not considered liability before this. Look at these factors to change your mind. Adams Insurance & Financial can guide many businesses serving Northwest Arkansas on the policies that will meet their needs.

Consider Start-up Insurance

If you are unsure of what you may need, start-up commercial insurance may fit your needs. This type of business insurance can provide you with a roundup of general insurance needs to cover the cost of common types of risks that most businesses face. However, as your business progresses, you may need more. Consider the following types of coverage as your business expands.

All businesses should have a general liability policy in place. Beyond that, you should also consider the following, depending on your operations:

  • Errors and omissions 
  • Cybersecurity insurance
  • Employment practices liability

Additional issues can affect business owners. These can include protection from data theft,  national disasters, such as those occurring from storms,  theft, damage from storms, business interruptions due to circumstances beyond your control, employment practices, and many other issues that entrepreneurs should consider.

Business disruption is another consideration. Policies can protect your operations from loss of income beyond your control when your company cannot operate due to circumstances beyond your control, such as riots and other things that may occur.

Ask the professionals at Adams Insurance & Financial to provide you with the most comprehensive service regarding insurance issues Our agents stand ready to give you the most extensive services regarding insurance and related issues available in Northwest Arkansas. Contact us today to get started on our insurance coverage.

How Home Insurance’s Liability Coverage Helps You

When many people think of a homeowner’s policy, they think of the structural protections it provides. If your home gets damaged by a peril covered in the policy, the insurance company pays for repairs. Adams Insurance & Financial wants Northwest Arkansas homeowners to also understand the liability coverage in home policies, such as HO-3 policies.

Home Insurance Liability Coverage

This blog explains its protection for accidents at the home, plus libel and slander. HO-3 policies, the typical type purchased by most homeowners, cover liability, too. Each policy provides protection equal to a percentage of the home’s value. The homeowner can adjust the percentage from its baseline, but that raises the monthly premium.

Most policies offer liability coverage at 10% or 20% of the home’s value. That means a policy that includes liability coverage with a maximum of 20% of a home’s value provides coverage of up to $100,000 for a home valued at $500,000.

How Liability Coverage Works

Liability coverage protects a homeowner in a few ways. First, if a visitor to the home has an accident, the liability coverage pays the injured person’s medical expenses. Whether the visitor falls down the steps or slips getting out of the shower, the insurance covers it. It also covers swimming pool and trampoline accidents, but owning either adds to your premium costs.

Liability coverage also offers settlement protection if the homeowner or a member of the household commits libel or slander. This protection comes in handy if anyone in the household works in a public job, such as a business owner, politician, coach, teacher, etc. Individuals in these positions frequently speak with the media and write opinion pieces, which puts them at risk of accusations of libel and slander.

Contact Us Today

Contact Adams Insurance & Financial to increase the protection on your Northwest Arkansas home. Let us help you find the right homeowner’s insurance for your home.

Handling The Financials

If you own a business that primarily handles lots of money, you are going to need financial insurance. This will provide coverage that you will need in order to protect you and your business from losses due to the event of a partner in a contract not meeting their obligations. What’s more, it can defend against a myriad of other kinds of commercial financial losses. That would include those from unexpected and/or heavy drops in the values of stocks or a business partner suddenly going bankrupt.

Who Needs Financial Insurance?

Financial insurance is largely for companies that generally cause loss of a purely financial nature. This would include attorneys and law firms, bookkeeping and accounting firms, property management firms, and real estate brokers. If an employee at one of these places makes an error that causes financial loss, financial insurance can cover financial losses caused to a third party up to the sum that was entered in the policy document. 

What is Financial Insurance Good For?

For the most part, the major purpose of liability insurance is to cover the company’s liability for any damages that have been caused to third parties. Business liability insurance is a standard form of liability insurance for any company. However, this does not cover any financial losses. Financial insurance, as the name suggests, covers completely financial losses and liabilities that are the result of a contract. It provides comprehensive insurance coverage when working in tandem with business liability insurance.

Adams Insurance & Financial Serving Northwest Arkansas

If you need financial insurance anywhere in Northwest Arkansas, please contact Adams Insurance & Financial. We will give you all the help you need. 

3 Important Life Insurance Questions to Ask Your Agent

Having life insurance can help protect your loved ones and give you peace of mind. If you’re in Northwest Arkansas and looking for help with your life policy, Adams Insurance & Financial is here for you. Having questions is common, and it’s important to get well-informed answers from a trusted agent, so you can make a knowledgeable decision.

Here are three of the biggest questions to ask:

1. How Will This Protect My Family?

Protecting your family is the main goal of an insurance policy on your life. This kind of insurance can help your loved ones keep their assets and a secure standard of living if you pass away. The goal is to determine what type of policy you need and how much coverage will be best for your situation, so you can choose the kind of protection that gives you and your family the security they deserve.

2. What Are the Different Policy Types?

There are term life and whole life policies, and they have different requirements and coverage opportunities. The right one for your needs is important. Working with an agent can help you get the best policy, allowing you to increase your family’s protection in a way that also works for you.

3. How Often Should the Policy be Reviewed?

You want to review your life policy at least every couple of years and anytime there’s a big change in your life. Performing a review with your agent will ensure that the policy is still right for you and your family.

Schedule A Consultation Today

If you’re in Northwest Arkansas and looking for a life insurance policy, get in touch with us at Adams Insurance & Financial today. We understand the importance of this kind of policy and the protection it offers for the future.

Who needs to have a full auto insurance plan in Arkansas?

Being a car owner is a great option for a lot of people in the Northwest Arkansas area. When you do have your own car here, you will enjoy having a convenient way to get around the area and complete any daily responsibilities. As you are looking for a car, you should also carefully assess your insurance needs.

A full auto insurance plan is needed by individuals in many situations. 

Those Looking to Drive

One of the reasons all people in this part of Arkansas need to have an auto insurance plan is so they can comply with state law. If you are going to drive a car anywhere in the state on a public road, you need to have liability coverage. This gives assurances that you will be able to cover damage if you cause an accident. When you get an auto insurance plan, you can stay in good standing with such requirements. 

Those with Loan Outstanding

It is also important to get a full auto insurance plan if you have a loan outstanding. When you take out a loan to buy a car, you will have insurance requirements set by the lender. These will require you to have comprehensive insurance, which will protect your car, which is the lender’s collateral. You will often need to provide evidence of coverage when closing on the loan. 

Reach Out To Us

Anyone who is going to drive a car in the Northwest Arkansas area will need to have proper insurance. When you are looking for this type of coverage here, you should call our team with Adams Insurance & Financial. There are a lot of choices to make when you are looking for insurance, and Adams Insurance & Financial can give you the support you need to build a quality plan. 

Unraveling the Mystery of Commercial Insurance for Business Owners

If you’re a Northwest Arkansas small business owner, you already know that running a business is no small feat. But how do you protect your business in the event of unexpected financial loss? 

Savvy business owners have learned that investing in commercial business insurance is one of the smartest business decisions they will ever make. Commercial insurance financially protects Arkansas-based businesses from financial peril that can include any or all of the following. 

How Commercial Insurance Can Protect Your Business

Property Damage 

Commercial business insurance can help ease some of the financial burdens. If your business loses time or money because of property damage. Property damage can cost businesses millions of dollars in revenue.

Having the right commercial insurance policy from Adams Insurance & Financial can prevent business owners from having to cover the costs of property damage as an out-of-pocket expense. 

Workers Compensation Claims

Businesses with employees can benefit from having commercial insurance policies that can protect the business against workers’ compensation claims.

If a worker or employee is injured on the job or on the premises, they can file a workers’ compensation claim to reimburse certain related costs. Commercial insurance protects Northwest  Arkansas business owners from absorbing these costs. 

Liability Insurance Claims

Many businesses have been forced out of business when faced with liability insurance claims from vendors, customers, partners, and other business associates.

Liability claims can come in the form of lawsuits or other claims that can cost businesses tons of money if they find themselves on the losing end of a liability claim. 

Protect Your Business from Liability Claims

Contact the commercial insurance experts at Adams Insurance & Financial in Northwest Arkansas when you’re ready to protect your business from liability claims, workers’ compensation claims! 

Tips to make your house more energy efficient

Making your home more energy efficient here in Northwest Arkansas doesn’t have to be a daunting task. With just a few simple tips, you can reduce your energy consumption and help the environment! Here are some simple tips from us at Adams Insurance & Financial to make your house more energy efficient. 

Energy Efficiency Tips

1. Change your light bulbs

Switching from regular light bulbs to LED or CFL bulbs is an easy and cost-effective way to reduce your energy consumption. LEDs and CFLs use up to 80% less energy than traditional bulbs, so changing them out in your home can make a big difference. 

2. Install a programmable thermostat

Programmable thermostats allow you to adjust the temperature in your home automatically, reducing the amount of time it takes for the house to heat up or cool down. This helps you save money on your utility bills as well as conserve energy by using less electricity. 

3. Increase insulation

Installing insulation in walls, floors, and ceilings will help keep the air inside your home at a comfortable temperature and prevent it from escaping outside, reducing the amount of energy needed to keep it warm or cool. Additionally, adding weatherstripping around windows and doors will also help with insulation. 

4. Use natural lighting

During daytime hours, try opening curtains or blinds in rooms that receive direct sunlight instead of relying on artificial light sources like lamps or overhead lights. Natural light is free and will result in high savings on electricity bills over time! 

Keep Your Home Insurance Updated

For more tips, give us at Adams Insurance & Financial a call today. We are proud to serve the Northwest Arkansas region and would be happy to help you find a policy to suit your needs and your budget.

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