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Tom Meaglia, ChFC®, AEP®,

CLU®, CRPC®, MSFS

Chartered Financial Consultant

Investment Advisor Representative

Chartered Retirement Planning Counselor

CA Insurance Lic. #0567507

 

Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750

 

Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120

 

Email: tom@meagliafinancialconsulting.com

Website: www.meagliafinancialconsulting.com

January/February 2022

Protect Yourself with Business Insurance

Asian beautiful woman sad mood with closed sign board hanging on the door of cafe because due to viral infection. Coronavirus and quarantine concept. go out of business

Running a small business can be challenging enough without worrying about unexpected events that threaten your company and your livelihood. That’s where business insurance can help. Business insurance protects both your personal and business assets from catastrophic events, such as a fire, or from liability due to bodily injury, property damage or product defects.


Several Options
Insurance companies offer several types of business insurance: general liability, which includes protection from financial loss resulting from bodily injury, property damage, medical expenses, lawsuits, judgments, etc.; commercial property, including damage to property from weather events, civil disobedience and vandalism; product liability; professional liability; home-based insurance; and businessowner’s policies. Minimal coverage for owners of small businesses to consider include a businessowner’s policy and home-based business insurance.


All in One
A businessowner’s policy (BOP) offers protection from all major property and liability risks in one policy. Combining coverage under one umbrella may save you money. BOPs provide protection in the following areas:


  • Property insurance covers buildings and their contents owned by the business. A businessowner can choose either standard coverage or more comprehensive special coverage.

  • Business interruption insurance covers the loss of income as a result of a major catastrophe, such as a fire, that prevents your business from continuing to operate. The policy may also cover expenses incurred while operating your business from a temporary location.

  • Liability protection covers financial loss to your business resulting from bodily harm or property damage caused by defective products, faulty installations or errors in services provided.


A BOP does not include professional liability coverage, which protects against financial loss resulting from malpractice, errors and negligence. Businesses that provide services to customers may want to add a professional liability policy to their other coverage.


When You Work from Home
Small business owners whose business is run out of their personal homes may want to consider home-based business insurance. Coverage is added as a rider to a homeowners policy and provides liability coverage for third-party injuries, as well as protection for a small amount of business equipment.

Protecting your personal and business assets from financial loss should be one of your top priorities as a small business owner.


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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
Insurance and annuity products are not sold through Fusion Capital Management. Fusion does not endorse any annuity or insurance product, nor does it guarantee any insurance or annuity performance. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from Fusion's investment advisory fees.
Meaglia Financial Consulting and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.