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Colorado Springs Business Insurance: Start-Up Tips

By ICA Insurance | Published April 17, 2014

Colorado Springs Business Insurance: Start-Up Tips

Colorado Springs Business Insurance Start Up Tips 300x200 Colorado Springs Business Insurance: Start Up Tips

According to the Small Business Administration (SBA), small businesses represent 97.6% of all employers in the state of Colorado. They reportedly employ nearly half of the private sector workforce, despite most companies having fewer than 20 employees. Better yet, the number of small operations opening up was much lower than the amount of those closing down, and self-employment is continuously on the rise.

If you are looking to initiate a start-up you’re probably wondering where to begin. Well, you’re in luck. We have compiled a few tips from successful entrepreneurs and small business advisors to help you get started in your new endeavor.

  • Make a Plan. A strong Business Plan is crucial to any good organization. The most successful business plans stem from deep introspection and diligent research. Outlining your personal and professional goals (both short and long term) along with identifying your purpose, vision and mission statement can help you better explain what your brand will represent and what value you bring to the market.
  • Make it legal. Hopefully your business activity is on the up-and-up, but we were referring to registering your business name and obtaining an Employer Identification Number. Making yourself aware of all local, state and federal business regulations can also be invaluable to the success of your enterprise. The last thing a start-up needs to face is legal or tax hurdles.
  • Establish your rates. Making a profit is the fundamental reason for doing business, at least being able to support ones’ self is. Will you price hourly or by project or will you offer both options to clients? For your venture to succeed it is important not to undersell yourself or your services. When establishing your rates take industry standards, personal experience, education, and costs of operation into account. Negotiation can be a challenge, but set pricing standards can allow you and your client to work within a range of options.
  • Keep a day job. Starting a business is challenging and time consuming, but it could be a while before you ever see a profit. Making your new undertaking an additional job can be good indicator of its potential for success. If you are able to commit to the project while you have other obligations, you will likely remain focused when your new business becomes your livelihood. It also keeps you financially secure should the business run into complications.

At Insurance Centers of America we have worked with numerous businesses across varied industries. Our agents specialize in working with small businesses to establish complete Colorado Springs Business Insurance coverage. We can assess your professional insurance needs to offer you the best General and specialized liability policies in Colorado, at the best prices. Call us today at (719) 528-5400 to speak with one of our insurance specialist.

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Colorado Springs Auto Insurance: DUI Crackdown

By ICA Insurance | Published March 20, 2014

Colorado Springs Auto Insurance: DUI CrackdownColorado Springs Auto Insurance DUI Crackdown 300x200 Colorado Springs Auto Insurance: DUI Crackdown

While Governor John Hickenlooper estimates that the state will generate approximately $134 million dollars in taxes and fees from the marijuana industry, police chiefs and city officials are pleading that the majority of those funds get allocated to bolster efforts to regulate and enforce the legal use of cannabis. However, Hickenloop seeks to utilize over $85 million of the revenue on prevention and treatment efforts while allotting only $3 million to law enforcement.

Currently, Colorado state officials are spending close to $500,000 on the new “Drive High, Get a DUI” campaign to encourage caution, judgment and restraint when recreationally or medically using marijuana. The campaign is modeled after public service announcements regarding the dangers of drinking and driving in hopes of preemptively detouring deviant behavior and avoiding costly repercussions.

Colorado law states that “drivers with five nanograms of active tetrahydrocannabinol (THC) in their whole blood can be prosecuted for driving under the influence (DUI). However, no matter the level of THC, law enforcement officers base arrests on observed impairment.”

The ramifications of driving impaired can be abundant from increasing insurance premiums to fines and serving jail time. Drivers can even be charged with child endangerment, should a minor be present in the vehicle.

Having the proper insurance can protect you and your family against accidents cause by almost any conditions. With Colorado authorities cracking down on individuals driving under the influence Colorado Springs auto insurance rates could see increases in the near future.

At Insurance Centers of America (ICA) we can find you the best rates on Colorado Auto Insurance. We shop with dozens of insurers licensed to ensure you find the most affordable rates and coverage that fit all your needs. For more information, fill out our quick and easy form or call (719) 528-5400 and we’ll get back to you as soon as possible.

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Denver Restaurant Insurance: Obtaining the Correct Business Licenses

By ICA Insurance | Published February 20, 2014

Denver Restaurant Insurance Obtaining the Correct Business Licenses 300x200 Denver Restaurant Insurance: Obtaining the Correct Business LicensesDenver Restaurant Insurance: Obtaining the Correct Business Licenses

As a restaurant owner or even a manager, there are many financial considerations to make in order to maintain your business operations. First of all, you should make sure that you have the right Denver Restaurant Insurance policy. In addition, you should be aware of the legal costs of owning a business. Part of these efforts is determining what licenses you will need to run your establishment. Here are a few basics.

Retail Food Establishment License. Before you can open the doors of your restaurant, you will need this license. It’s a mandatory document that legally grants you the right to run your restaurant in your city and/or state. The Denver Business Licensing Center offers guidelines of just how to maintain this license.

Liquor License. If you plan to serve alcoholic beverages within your establishment, you are required to hold this license. Some of the requirements to obtain this license include completing a Colorado Liquor Retail License application, Sales Tax License, submitting to a background check, and providing your restaurant’s detailed floor plan. It’s important to be aware that applying for and receiving a liquor license can be a lengthy process, typically taking a few months.

Music License. Unlike a liquor or business license, it’s not up to the state or city to grant this license to you. You must procure a music license from one of the three major music royalty organizations. These are; the American Society of Composers, Authors, and Publishers (ASCAP), the Society of European Stage Authors and Composers (SESAC), or Broadcast Music, Inc. Not all music is covered by all three of these groups, so it is recommended to obtain a license from all three in order to avoid copyright infringement. Doing so may help you avoid costly litigation or fines.

At Insurance Centers of America (ICA) we understand the challenges and opportunities that come with opening a restaurant. Our trained professionals can ensure that you maintain the right Denver CO Restaurant Insurance Policy, to protect your business from potential financial losses. Please contact us today at (719) 528- 5400 to learn more about how we can best serve you with our comprehensive  Denver Business Insurance policies.

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Colorado Auto Insurance: Tips on Driving Safely During Snow Season

By ICA Insurance | Published January 17, 2014

shutterstock 97459004 300x199 Colorado Auto Insurance: Tips on Driving Safely During Snow SeasonColorado Auto Insurance: Tips on Driving Safely During Snow Season

With the winter season upon us, it’s important for Colorado residents to be aware of the risks involved when it comes to driving in inclement weather. Along with strong wind speeds and snow fall, drivers should be prepared to encounter ice and road blocks, in order to avoid any auto collisions. Here are a few tips on driving safely during snow season.

  • Should you drive during snow season?: First off, if the weather condition is severely unsafe or you are unsure of driving skills in snow, do not drive or wait until the weather starts clear.
  • Keep a distance during snow season: Make sure to keep a long distance between cars, corners, and any other hazards. Driving on ice and snow makes it more difficult to break and it is 3-12 times more distance to stop. When driving behind a truck, remain three to four car lengths behind them.
  • Ensure visibility during snow season: Before driving your automobile, clear off any ice or snow from your windows, lights, hood, and roof.
  • Leaving room during snow season: Make room for any snow plows, spreader trucks, and any other maintenance vehicles. 200 feet is a good distance to be at.
  • Try to avoid bridges during snow season: Remember that bridges and overpasses are more vulnerable to ice. If possible, use an alternative route; however make sure that they have already been cleared by snow plows.
  • Turn on your light during snow season: Turn on your headlights and taillights to ensure the safety of both the drivers around you and yourself.

In addition to following these safety tips, you should always be aware of the weather forecast before you leave on any extended road trips.

Nobody covers Colorado Springs or Denver for Colorado Auto Insurance like we do at Insurance Centers of America (ICA). We specialize in helping our clients cover personal automobiles against unforeseen damages and injuries. As independent agents, we can shop with dozens of insurers licensed to set you up with the most affordable rates and most appropriate coverages. Just fill out our quick and easy form or call (719) 528-5400 and we’ll get back to you as soon as possible.

 

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The Effects of Colorado Unprecedented Flood

By ICA Insurance | Published December 18, 2013

The Effects of Colorado Unprecedented Flood 300x234 The Effects of Colorado Unprecedented Flood

The Effects of Colorado Unprecedented Flood

It’s been just short of 6 months since wildfire and drought impeded irrevocable damage onto the lives of Colorado residents. And while homeowners and business owners are still recovering, financially and emotionally, their efforts have been obstructed with an unprecedented flood.

In less than one week, the flood spouted over 18 inches of rain, evacuated over 11,000 residents, affected 17 counties, and destroyed 30 bridges and nearly 20,000 homes. With its record breaking numbers, the Boulder flood has been referred to as a 1 in 1000-year event, meaning that it has a 0.1 percent chance of occurring in a given year. According to the National Weather Service Director Louis Uccellini, “the true magnitude is really just becoming obvious now.” Between the first and eleventh of September, Boulder received 18 inches of rain; this is in respects to the average 1.7 inches Boulder receives during September and the average 20.68 inches they receive annually.

Although the numbers are not finalized, catastrophe modeling firm Eqecat estimates the disaster to amount to a total of 2 billion dollars in property losses (half from the housing and half from the commercial and government sectors). In addition, the U.S. Transportation Department’s preliminary assessment of the state’s infrastructure showed damaged of 40 million to roads and 112 million to bridges.

Meanwhile, the members of the Senate Banking Committee gathered to address that flood issue that has been gripping the entire nation and discussed the divisive flood insurance bills. Solutions have been proposed, arguments have been disputed but a clear decision has not been made. However, there is a clear consensus that homeowners will not be happy if and when market rates for flood insurance increases next month.

The vast majority of Colorado homeowners suffering the severe financial aftermath of a flood never dreamed they’d ever experience one. Others believed their home owners insurance would protect them—and discovered otherwise, to their regret. Let ICA‘s flood insurance specialists set you up with the coverage you need. Call us today!

Additional Sources: Huffington Post and Climate Central

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