Insurance tips Archives - Smoothie King

Curbing Inflation’s Impact on Business

Inflation has slowed significantly since June of 2022, when inflation hit a 40-year high in the U.S. According to the US Bureau of Labor Statistics (BLS), the average annual inflation rate is down from 8.0% in 2022 to 4.1% in 2023, with 3.0% expected in 2024. Though inflation is trending down, consumers and businesses may [...]

By | March 27th, 2024|Insurance tips|Comments Off on Curbing Inflation’s Impact on Business

Why Business Insurance Rates Vary from Insurance Provider to Insurance Provider

Business insurance may seem cut and dry, so why the variance in rates from provider to provider? There are many factors that contribute to insurance rates, including coverage and limit options, claim frequency and more. Factors that Cause Business Insurance Rates to Vary Insurance policies and their rates vary from company to company. While you [...]

By | May 10th, 2023|Insurance information, Insurance tips|Comments Off on Why Business Insurance Rates Vary from Insurance Provider to Insurance Provider

Lockton Affinity’s Smoothie King Insurance Program Benefits

The insurance market is saturated with partners looking to provide workers’ compensation, property, general liability, employment practices liability and several more types of insurance. With so many options available, it can be overwhelming to find a trustworthy, dedicated insurance partner that meets your franchise’s needs affordably. Read on to learn how Lockton Affinity worked directly [...]

By | March 23rd, 2023|Insurance information, Insurance tips, Quick service industry|Comments Off on Lockton Affinity’s Smoothie King Insurance Program Benefits

Common Holiday Claims and How to Prevent Them

Around the holidays, franchises can see an increase in claims. The reason for increased claims vary, but seasonal celebrations, weather and economic issues all play a part. Franchise holiday claims can cause stress and worry at a time that is already hectic and stressful. For franchises, we often see an increase in commercial auto claims [...]

By | September 15th, 2022|Insurance information, Insurance tips, Quick service industry|Comments Off on Common Holiday Claims and How to Prevent Them

The Journey of Your Insurance Policy

Understanding the inner workings of how an insurance policy is written and managed can be helpful whether you're shopping for new insurance or already have coverage in place. In this blog, we'll walk you through the process your Lockton Affinity policy goes through to give you an idea of what to expect. From the moment [...]

By | April 27th, 2022|Insurance information, Insurance tips|Comments Off on The Journey of Your Insurance Policy

The Anatomy of EPLI for Franchises

Employment practices liability insurance protects your business from common claims and lawsuits brought by your employees. The number of lawsuits in the industry is rising and the cost to defend yourself against a claim can be substantial. Now more than ever it’s important to make sure your business is protected. Even though employment practices liability [...]

By | March 18th, 2022|Insurance information, Insurance tips, Quick service industry|Comments Off on The Anatomy of EPLI for Franchises

10 Insurance Terms Explained in Plain English

If it's your first time shopping for insurance for your business, insurance terms can be a real stumbling block. Even for old pros, a fresh perspective on a familiar topic can help you better understand what really matters. Here's a look at 10 common but confusing insurance terms explained in plain English to make your [...]

By | January 3rd, 2022|Insurance information, Insurance tips|Comments Off on 10 Insurance Terms Explained in Plain English

5 Most Common Insurance Misconceptions

Lack of good information has led to plenty of misconceptions about franchise business insurance. We wanted to take the opportunity to set the record straight about the 5 most common insurance misconceptions out there. 1. All insurance is basically the same. It’s a common insurance misconception that all insurance is basically the same. The thought [...]

BOPs for Franchises

At a restaurant, customers often order a combo meal, since it has everything most people need—entree, side and drink. Packaging a burger, fries and a soda into a combo meal makes a lot of sense, and it's similar to how a Business Owners Policy (BOP) works in insurance. A BOP makes it easy to get [...]