There are several ways for entrepreneurs to make more money with their new companies including, but not limited to:
- Raise your Prices – Tough to do when you are just starting out!
- Increase your Sales – Sometimes easier said than done.
- Reduce Production Costs – Please see Above!
- Reduce your Monthly Overhead.
Often this is the one people most seriously consider, and one way they accomplish this is by leasing co-working space from someone so that their rent can be reduced. If this is something you are considering, or have recently done, you are going to want to fully understand the ramifications of LEASING CO-WORKING SPACE AND YOUR PEORIA, AZ BUSINESS INSURANCE.
“While this may seem like an excellent solution, and many times is,” Jim Bivona of Bivona Insurance Group, LLC, an Independent Insurance Agency that services the Phoenix Metro area regarding Insurance including Phoenix, Scottsdale, Glendale, and Peoria Arizona to name just a few, noted, “make sure you understand all of the ‘ins and outs’ of your Insurance needs and responsibilities.”
Things you need to understand include, but are not necessarily limited to:
- Not Assuming Your Property is Covered – While the building you are in may be covered, that does not mean that all of your stuff is. This includes such things as Office Furniture, Computers and Inventory.
- Make sure you Understand Your Liability – You may be held responsible for accidents that occur on the premises, especially to your employees or clients.
- Protect Yourself From “Cyber Liability” Exposures – If you offer “Free Wi-Fi,” or even allow clients to just use it occasionally, you must recognize the fact that shared networks are most susceptible to being unprotected.
As you can see, being aware of LEASING CO-WORKING SPACE AND YOUR PEORIA, AZ BUSINESS INSURANCE, certainly is not something you want to ignore if you are, in fact, preparing lease co-working space! As a result, you should contact Jim Bivona at 623-256-1000 with any questions, and he will be happy to discuss this concept with you in greater detail, and suggest some ways you may be able to improve your Auto Coverage.
To learn more about the BIVONA INSURANCE GROUP, LLC go to www.bivonainsurance.com.
(To learn more about this issue, research “Insurance Considerations of Leasing Co-Working Space”)