Are you covered?

You are one of the nation’s 30 million+ small businesses (sba.gov). Of State Farm customers who own a small business, 40% have no small business insurance. Yet, the average covered claim a small business owner faces is over $22,000.

That’s a lot! Unwrap these eight holiday tips to keep your operation safe, secure and successful in 2019 and beyond:

1. Know what your policy covers.  If your business location is damaged by a covered loss, you’ll want the coverage necessary to repair/replace your building, business personal property, or both.
2. Watch your step!  Snow and ice can lead to slip and falls. With more people visiting your business, the risk goes up. Promote safety by maintaining adequate lighting around your property - - don’t let gutters and downspouts drain onto walkways or parking areas, and have a snow removal plan in place.
3. Make a list…and check it twice!  Use this checklist to periodically examine your property for potential hazards and unsafe conditions that may need attention.
4. Know your liability limits.  If someone gets hurt on your property, and you have a covered claim, your policy may respond up to the liability limits you have chosen.
5. Limit your theft exposure.  Hire honest people, and consider using a keycard system instead of a traditional key/lock. This gives insight into when and how your property was accessed. Also, install a good alarm system. If your insurance carrier is aware of this, you may be eligible for a reduced premium.
6. Do you have workers’ compensation?  Most states require that employers provide Workers’ Compensation for their employees in the event an employee is injured while performing their work.
7. Keep an inventory.  Businesses evolve and change over the years. Know what’s inside it. Did you purchase new office furniture? Get new computers? Buy upgraded phones? Make an inventory form. For example, if a fire destroys your business, the claim specialist will need to know what you had inside it. A current inventory form will save time and make the claim process more efficient.
8. Stay connected.  When you purchase new equipment or upgrade your business location, it’s a good idea to call your insurance agent to review your coverage needs. State Farm agents account for nearly 19,000 small business owners in the United States. Like you, they understand the importance of developing a plan for continued financial security. Regular check-ins ensure your coverage needs keep pace with your policy.

On the evening of June 9, 2015, veterinarian, Kenneth Kimbrough, wrapped up his last appointment, said goodbye to his staff, and went home.

“It was business as usual, until the fire department called. Kimbrough Animal Hospital was in flames.”

The doctor and his wife arrived on the scene to find their clinic fully engulfed.

“My biggest fear - the animals inside,” said Kimbrough. “I ran to the kennel. People were shouting, ‘It’s dangerous, don’t go in!’ But I couldn’t stop. I began taking animals out. Started administering CPR on the lawn. I had to get their lungs full of something besides smoke. I had to turn it around.”

Thirty-eight animals perished that night. Only two boxers survived. Officials deemed Kimbrough Animal Hospital a total loss.

“I shared this devastating reality with my clients and the community,” said Kimbrough. “It’s numbing.”

Rebuilding from the ashes

The next day Kimbrough called his State Farm Agent, Dave Powell.

“When I began working with Dr. Kimbrough in 2000, I looked him in the eye and said, ‘On your worst day, I’m going to be there for you.’ That day had arrived,” said Powell.

Together, the pair surveyed the scene, met with the claim specialist and reviewed his policy. While the cause of the fire was never determined, officials suspected it may have started electrically, in a back office.

“As a small business owner, it’s imperative to get back up and running,” Powell explained. “Dr. Kimbrough’s coverage included business interruption which meant State Farm would reimburse his loss of income, and also provides coverage to keep his team employed during the period of restoration. His policy also covered building contents, which allowed him to buy new equipment.”

With the help of State Farm, Kimbrough Animal Hospital began to recover. The old hospital was leveled and the rebuild began. With construction underway, Kimbrough converted his nearby pet grooming facility into a mini animal hospital. Portable buildings were moved onto the grounds so staff could help more people.

“Thank goodness for small business insurance, which made it possible,” said Kimbrough. “Dave, my agent, was with me every step of the way.”

A new chapter

In March 2017, the NEW Kimbrough Animal Hospital opened its doors.

“Our former building was 4,400 square feet. Our new facility is 12,000 square feet,” said Kimbrough. “This allows us to serve customers, provide daycare and grooming, and help more pets. We also have a Fear Free certified doctor on staff, which allows us better serve the physical and emotional wellbeing of animals.”

More than two years later, the clinic is back in action. And while Kimbrough says the memories of that fateful June night will never fade, he’s grateful for the support of his friends, neighbors and the Texas community.

“Thank goodness I could do this. With Dave as my State Farm agent, I had the right coverage, my needs were met and I was guided through the process. Kimbrough Animal Hospital got a second chance.”

“I consider it an honor to be a servant leader for our small business clientele,” said Powell. “Staying in touch to ensure the coverage they have continues to meet their evolving needs ensures people are secure. Helping, it’s what we do.”

“I wore a uniform for 20 years,” said Ben. “Served in the military, with law enforcement, then got my technician certification and went to work in the heating, ventilation, and air conditioning (HVAC) industry.”

Ben says his past experiences taught him the value of working hard while helping others – factors that inspired him to start his own heating and cooling company.

“It’s called All Care Comfort Solutions,” he smiled. “Texas gets pretty hot, so it’s important air conditioners work!”

But sweltering heat isn’t the only weather condition common in Texas. The state also gets its fair share of storms.

“We had a hail storm come through and my work vehicle was in its path,” said Ben. “I had to make a claim on it. But just to get simple claim for my truck was a real chore.”

Before a frustrating situation got worse, Ben met another small business owner: State Farm agent Brian Llewellyn.

“Brian and I do charity work in the community, which is how we crossed paths,” Ben explained. “I started seeing Brian at all sorts of local functions and told him, ‘Gee, we should start riding in the same car!’”

“Ben and I struck up a conversation and I invited him to my office to evaluate his current policies,” said Brian. “As a small business owner myself, I understand the importance of proper protection.”

Prior to becoming a State Farm agent, Brian worked on the State Farm Catastrophe Team – traveling across the country to help customers affected by hurricanes, wildfires, ice storms and tornadoes.

“I worked with many small business owners,” said Brian. “After suffering a devastating loss, they knew it was critical to keep the doors open. In the end, it’s not just the small business owner who’s impacted…their employees, their customers and their neighbors are affected too. Having the right insurance coverage is essential so a business can survive.”

Helping Life Go Right

Shortly after speaking with Brian, Ben met him at his office. While reviewing his policies, Brian discovered a big gap:

Ben had insurance on his work truck, but did not have coverage for the items inside it.

“I was shocked,” said Ben. “I didn’t realize if my vehicle was burglarized and everything was stolen – I would not be covered. My truck carries expensive equipment. Refrigerant parts, hand tools, power tools, pumps, gauges, manifolds, testing supplies. It’s upwards of $10,000 dollars.”

Ben decided to make a change.

“I got a Business Personal Property Policy and switched my coverage to Brian. No kidding, if my equipment was taken and I didn’t have coverage…things could turn upside down real quick. I’ve worked too hard to lose it all. That’s why I chose to work with someone I trust.”

“There’s something about the small business community – we know what’s on the line, the struggles, the challenges and the 24/7 on-the-go lifestyle,” added Brian. “It’s important to support small business owners and make sure they have what they need to be successful.”

Today, Ben has peace of mind knowing he’s protected. And, he’s offering three pieces of advice to small business owners, and anyone considering opening their own shop:

“Working with Brian is one of the best decisions I’ve made,” said Ben. “After all, the greatest insurance is the kind you don’t have to worry about. It does its job and you can do yours. Being with State Farm means I know I’m secure.”

The holidays are upon us, which means the holiday shopping season is here! This time of year is a great time to support the more than 28 million small business owners in the United States by shopping at and supporting local community businesses, according to the U.S. Small Business Administration (SBA).

This is also a good time to share tips small business owners can use to ensure their business is successful and protected.

Ryan Basile, owner of Double Trip Press, agrees there is no time like the holidays to ensure you have the tools to prepare and protect your business. Ryan gives credit to getting good business advice from the start. Recently, he shared a few of his own tips small business owners should keep in mind.

Top Five Tips from Small Business Owner Ryan Basile

1. Learning from Mistakes. Just as it sounds, making mistakes is how we learn to do better the next time. Ryan recalls making several mistakes early on when establishing his business. They turned into great learning opportunities. It can be scary for anyone, especially a new business owner, to even entertain the idea of being able to get up from a bad fall. However, Ryan professes he and his business are better because of it.
2. Have Realistic Expectations. Don’t expect to know all aspects of growing or starting a business. Allow yourself to ask for help and be willing to learn new things. Know your strengths and weaknesses and embrace them.
3. Seek Help. From the start, Ryan “knew what he didn’t know,” and sought out help. He went to Next Door Chicago’s financial coaches who helped him build a business plan, create a budget and organize what to do and when (like getting a bank account, establish a LLC, etc.). They even provided emotional support that gave him the confidence to succeed.
4. Align Your Mission to All Aspects of Your Business. For example, if you have a high-end product, where your storefront is located and how it looks should align with your product. Ask yourself if growth is in your future or if staying small is your goal. This can help you decide if you lease space or buy space you can grow into.
5. Get Advice from a Professional. State Farm agents are also small business owners. They understand the importance of developing a plan for continued financial security. After speaking to a State Farm agent, Ryan realized how much more he could do with the support of a professional. At every stage of the Business Life Cycle, there are different ways to protect and grow your company.

As you prepare your holiday shopping list, make sure to #ShopSmall.

Small Business is Big!

• The 28 million small businesses in America account for 54% of all U.S. sales.
  • State Farm Agents account for 18,000 small business owners.
• Small businesses have provided 55% of all jobs, and 66% of all net new jobs, since the 1970s.
• The 600,000+ franchised small businesses in the U.S. account for four of every 10 retail sales and provide jobs for some eight million people.
• The small business sector in America occupies 30-50% of all commercial space, an estimated 20-34 billion square-feet.
• 62% of small businesses employ five or less employees.
• Minority owned businesses account for almost 15% of all small businesses, with more than one-third of minority-owned firms owned by Hispanics.

​