Does my business qualify for a business owners’ policy (BOP)?

We introduced business owners’ policies (BOPs) in an earlier blog. In this blog, we expand on this valuable bundle of commercial insurance policies and explain the qualifications to purchase one. Because BOPs offer four common insurance policies for a lower premium than buying them separately, the insurance industry limits their purchase to the lowest-risk companies.

BOP Qualifications

Although each insurance company uses slightly different criteria, they all have four requirements in common. A business must:

  • Employ fewer than 100 people.
  • Maintain a small office or commercial space
  • Generate less than $1 million in annual revenue
  • Need less than one year of business interruption insurance.

San Marcos Insurance Group may vary its requirements slightly depending on the underwriter, but every business in the Chandler, AZ area can rely on us using these four overarchingly.

Why Choose a BOP?

Besides the money savings, a BOP includes commercial property coverage, bodily injury and property damage liability, personal and advertising injury liability, and business interruption coverage. Those four policies cover the major needs of a small or mid-sized business.

The flexibility of a BOP lets a business add to it, using its policy package as a foundation for building the entire commercial insurance package of the business. Depending on your company and its operating processes and procedures, you might need to add commercial auto insurance or malpractice coverage. A business can add any commercial policy to a BOP.

Contact San Marcos Insurance Group Today

Call our office at San Marcos Insurance Group or send an email to talk about whether your Chandler, AZ business qualifies for a business owners’ policy (BOP). Let us help you properly insure your company so that it can grow safely.

Purchasing a Second Health Insurance Policy

Many Chandler, AZ, employers offer relatively comprehensive health insurance policies, but what if you need to address a need that your employer’s insurance plan doesn’t cover? Many retired people use Medicare, but it does not cover everything. Today’s article in the San Marcos Insurance Group blog explains how to fill those gaps with a second or specialty health insurance policy.

Buying a Second Health Policy

Individuals can purchase a health insurance policy besides the one they obtain through their workplace, Medicaid, or Medicare. A person can add a second health policy that covers only their prescriptions or a second, full health policy that covers items their initial policy does not. Some of these private health insurance plans require a medical examination before you can buy them. Others, such as Medicare Part B, do not require one, but you must choose Part B when you qualify and register for Part A. Only by having both will you have hospitalization and doctor visit coverage unless you purchase private insurance.

Specialty Health Insurance

Buying a full health policy can fill gaps, but so can a specialty health insurance policy. The term specialty policy refers to an insurance policy that covers one type of medical need, such as dental, vision, hearing, or prescription medication coverage. If your employer provides medical coverage but not dental or vision, you can purchase a specialty policy to cover either need.

Contact Us Today to Build Your Health Insurance Package

At San Marcos Insurance Group, we provide consultation meetings and insurance reviews for Chandler, AZ residents. Contact us via email or phone to review your health insurance needs. Let us help you build your insurance package.

Sustainability and Green Business Insurance: The Future of Eco-Friendly Coverage

In a rapidly changing business landscape, sustainability and environmental responsibility have become vital priorities for companies of all sizes and industries. In and around the Chandler, AZ area, green business insurance is emerging as a significant component of this movement. It is allowing enterprises to align their insurance coverage with eco-friendly initiatives. 

Understanding Green Business Insurance

Green business insurance addresses the unique needs and challenges faced by companies committed to sustainability. It offers coverage options promoting eco-friendly practices and supporting companies in reducing their environmental impact.

Reducing Environmental Footprint

One of the primary objectives of green business insurance is to assist companies in reducing their environmental footprint. This can be achieved through various means, such as:

  • Eco-Friendly Building Practices: Insurance policies may encourage businesses to adopt sustainable construction and renovation practices, focusing on energy efficiency and eco-friendly materials.
  • Green Transportation: Companies can be incentivized to adopt electric or fuel-efficient vehicle fleets, reduce emissions, and promote cleaner transportation methods.
  • Renewable Energy Initiatives: Green insurers often support companies investing in renewable energy projects, such as solar panels or wind turbines, to reduce their reliance on non-renewable energy sources.
  • Waste Reduction: Policies may promote waste reduction and recycling programs within companies, ensuring responsible waste management practices.

Incorporating Sustainable Practices

Green business insurance encourages companies to adopt sustainable practices in their day-to-day operations. This includes using environmentally friendly products and processes, promoting energy efficiency, and reducing water consumption.

Financial Incentives

Green business insurance often includes financial incentives for companies pursuing eco-friendly initiatives. These incentives can be premium discounts, rebates, or grants for sustainability projects.

San Marcos Insurance Group Can Help You

At San Marcos Insurance Group, we can help answer questions concerning commercial insurance. We serve the Chandler, AZ area. Contact us today. 

What are the benefits of having a health insurance plan in Arizona?

Most people in the Chandler, AZ area know proper insurance is very important. Those looking to improve their personal insurance situation should carefully evaluate their health insurance needs. There are a lot of advantages that come with having health insurance when you are here. 

Avoid Major Costs

If you ever need an operation, get seriously ill, require medication, or need other medical support, you will find the costs associated with it can be extremely significant. However, if you have a health insurance plan, it can help you avoid many of these costs, as you can receive discounts and insurance coverage and have annual policy caps. 

Encourage Healthy Lifestyle

An added benefit of having health insurance is that it can encourage a healthy lifestyle. Seeing a doctor regularly is very important for your overall health. Not only can you receive an evaluation, but you can receive guidance and tips for living a healthier lifestyle, which will help you feel your best. 

Avoid Penalization

Health insurance is also a good option because it will help you avoid penalties. Health insurance is now a requirement for all people, and you must offer evidence of coverage when filing tax returns. Having a full plan can help you avoid the penalties that come if you do not comply with the law. 

Having a full health insurance plan is very important if you are in the Chandler, AZ area. When you want this type of coverage, it would be a great idea to call our team with the San Marcos Insurance Group. Our team with the San Marcos Insurance Group knows how important it is to select a proper health plan and will give any guidance necessary to create your next policy. 

Questions to ask before choosing your health insurance

Health insurance is vital to your well-being. The policy you choose will be your coverage for a year, and making sure you make the right choice is critical. Knowing the right questions to ask can make all the difference. In Chandler, AZ, our San Marcos Insurance Group agents are here to answer your healthcare questions. 

Is my doctor in the network?

Every carrier has a network of providers that they have contracted with. The prices are agreed to so that you know what services will cost you before you get care. If you have a primary care physician or specialist you prefer to see, you will need to check the list of providers that can be used. Depending on the type of managed care you have, you may still be able to see your doctor, but you may have to pay more per visit.  

What is the yearly deductible?

To be considered a high deductible policy, the year deductible must be at least $1400 for an individual or $2800 for a family. The higher the deductible, the more out-of-pocket you will need to pay, but in most cases, the lower the premium will be. 

What type of managed care is the policy?

There are three basic types of managed care. HMO, POS, and PPO. An HMO is the most restrictive, and the PPO is the least restrictive. A PPO lets you choose an HMO or PPO for each service you receive. 

What is the monthly premium? 

In practical terms, the premium has to be considered, but it is not the first thing to consider when choosing the right health insurance coverage. 

Contact San Marcos Insurance Group in Chandler, AZ when you are ready to discuss your health insurance coverage. Give our office a call today. 

Does Commercial Insurance Protect Your Perishable Inventory?

If you are searching for insurance to cover your business and your perishable inventory, we can help. The San Marcos Insurance Group team provides a range of insurance options to the residents and business owners in and around the Chandler, AZ, area. 

Commercial Insurance Coverage

To protect your business and any potentially perishable inventory, you’ll need to know what insurance coverage offers. Commercial insurance varies from policy to policy. If you have perishable inventory, you’ll need to secure that particular type of coverage.

Perishable inventory insurance is designed to prevent losses associated with risks covered by a policy protecting against spoilage and other hazards.

If you have perishable inventory, speaking with one of our highly knowledgeable insurance agents is the best course of action. They can assist you with learning more about which coverage options meet your needs and offer the most coverage for your inventory. Once you know which policy options are best, we can thoroughly explain the terms and conditions to ensure you are an informed buyer.

We aim to deliver a blanket of protection for each business owner, allowing them to operate confidently, knowing their investments are protected.

Learn More Today 

If you would like to learn more about the policy options we offer for business owners in the Chandler, AZ, area, we encourage you to call or stop by the San Marcos Insurance Group. Our agents are happy to schedule appointments for consultations or answer any questions about the range of insurance options we offer. Don’t risk inventory losses by guessing about your insurance coverage needs. We can help you every step of the way.

What should someone in Chandler think about when getting health insurance?

Anyone living in the Chandler, AZ area must take their personal insurance needs seriously. A form of coverage all people in the area need to have is health insurance. This is important coverage as it ensures you have access to affordable care when you need it. There are various factors someone should think about when shopping for this coverage here. 

Coverage Levels

It is essential to consider the coverage levels provided by each form of coverage. Health insurance coverage varies considerably by plan. Some types of coverage can include medical services, physical therapy, hospitalization, prescription drugs, maternity support, preventive care, mental health service, and many other forms of support. You should ensure the plan you choose has the right amount of coverage. 

Deductibles and Individual Costs

Each health insurance plan will also have a different cost structure. Each plan will have a premium paid monthly to the health insurance provider. You will also have co-pays to see a doctor, receive medication, and obtain other forms of care. Finally, you need to know your deductible, which is the amount of money you need to pay out of pocket before receiving some forms of care. Many plans also have an annual maximum you will be required to spend. Evaluating and comparing these options is very important. 

Health insurance is a form of coverage that everyone in the Chandler, AZ area should consider and take seriously. When you are looking for health coverage here, calling our team with the San Marcos Insurance Group would be beneficial. When you call our professionals at the San Marcos Insurance Group, you can get the support necessary to build a plan that adequately covers you and your dependents. 

Tips For Choosing the Right Commercial Insurance

As a business owner, you have to manage many risks, and one of the most efficient ways to do that is to have business insurance. The right commercial insurance helps protect you as a business owner, your company, employees, and leadership from all types of risks. Finding the right insurance is an essential part of any business management strategy. However, finding it is not easy and could be pretty challenging. In this article, you will find several useful tips to help you make the right choice. 

Tips For Finding the Right Commercial Insurance Plan

  • Get familiar with different types of business insurance. The most common types of business insurance that you want to consider include general liability insurance, commercial property insurance, business interruption insurance, professional liability insurance, and others. Ask an insurance agent to recommend a type of insurance that will address your business needs. 
  • Shop around. Take your time and shop around to find the best insurance plan for your company. The best strategy would be to choose several insurance companies and compare their plans. 
  • Understand your risks. Every industry is different, and the risks are different too. You should evaluate your risks first and purchase an insurance plan to guard against them. 
  • Consider the deductibles. Every insurance plan has a deductible – an amount a policyholder must pay out of pocket before insurance kicks in. It would be best if you understood that the higher your deductible is, the less you pay for your insurance monthly.  

San Marcos Insurance Group – Find Your Perfect Commercial Insurance in Arizona

Do you operate your business in Chandler, AZ, or another nearby town? Are you shopping for commercial insurance that protects your company, employees, and assets? Do not look any further – San Marcos Insurance Group is here to assist you. We will help you find an insurance plan to meet your needs and budget. Please visit our website for more information or give us a call. 

Health Insurance: How to Choose the Right Plan For You

Health insurance offers financial protection by covering health and treatment expenses. It saves you from the costly out-of-pocket costs you incur if you or your loved one is hospitalized. However, the benefits you get highly depend on your chosen plan, so you should choose the right health insurance plan for your needs. Follow these tips to choose the ideal health insurance plan for you and your family in Chandler, AZ.

Check Hospitals Network

Insurance companies partner with selected hospitals for the provision of healthcare facilities. As you choose your insurance plan, it’s vital to check the network and ensure the hospitals of your choice have that specific network. An insurance plan available in a broad network of hospitals will be easier for you to access, irrespective of location.

Health Coverage

Find out what the plan you choose offers. Examples of medical coverages that can be covered in a plan include daycare costs, maternity expenses, ambulance costs, costs of admission, and much more. Analyze your family’s needs and choose the ideal plan which caters to your family’s exact needs.

Some health plans can be more costly than others, so costs are a vital factor to consider. Check the premiums against the compensation amount and see if it fits your needs. Other than the premium, check the other extra expenses you may incur with the insurance plan. Compare what different providers offer and choose the best.

Renewability

Health insurance plans come with varying renewability needs. While some may have age limits, others may offer lifetime coverage. Choose the plan with lifetime coverage to enjoy the benefits in your old age. Lifetime coverage is great because enrolling in a new health insurance plan might be hard when you are old.

Contact San Marcos Insurance Group

Health insurance is a vital investment that helps you financially in case of hospital emergencies. For more information on acquiring health insurance in Chandler, AZ, contact our San Marcos insurance group team for advice and assistance.

How Commercial Insurance Can Mitigate Risks for Businesses

Many Americans dream of owning a small business. While starting a business can be a rewarding experience, both personally and financially, essentially all business owners must take on risks. Often, this means investing their own money, and if something should go wrong, they could lose that wealth. Fortunately, commercial insurance can mitigate some risks. Contact the San Marcos Insurance Group if you’d like to discuss commercial insurance for your enterprise and live in or near the greater Chandler, AZ area.

How Commercial Insurance Can Mitigate Risks

To own a business, you’ll typically have to invest in equipment, work or office space, supplies, employees, and more. Many entrepreneurs will fund the initial investments out of their own pocket. This may mean taking out a personal loan or even a second mortgage. Even if a specific business owner doesn’t have to invest much, their livelihood, including their own monthly income, could be on the line.

If a business doesn’t have insurance and is damaged in a severe weather event, such as a tornado or hurricane, the owners may be on the hook for all the damages to the building, equipment, and more. However, some weather damages may be covered with the right commercial insurance plan.

Likewise, an entrepreneur could suddenly face serious legal complications and court dates if employees or guests are hurt on the job. If a business owner has the right insurance policy, the costs, and liabilities may be covered.

Ultimately, commercial insurance can reduce risks, especially financial risks, during many different situations. Of course, details are crucial, and examining each plan is important to see what is and is not covered.

Want to learn more about commercial insurance policies and how the right policies could mitigate risks specifically for your business? Contact the San Marcos Insurance Group, serving Chandler, AZ, and beyond.