November 2021 - Waittes Insurance

Why NOW is actually a great time to start a business

There is a lot of talk right now about economic struggles, but sometimes a downturn is the best time to dive in and start something. General Electric, Netflix, and Microsoft are are all companies that were born during a downturn (U.S. Chamber of Commerce).

The pandemic has changed everything in ways no one could have predicted. The ways people interact with each other, how they socialize, where they find dating partners, where and how they dine and shop--all of these shifts open new opportunities for entrepreneurs to take advantage of new trends. Another exciting component to the new business landscape is that you don’t always need an army of employees to start something (Forbes).

Among the list of reasons that now is a great time to start a business includes your potential employees. In the current changing landscape, talented individuals may have experienced layoffs and may be available for hire (Entrepreneur). And if you are looking to hire, you are not limited to local talent if your business is able to operate with remote employees.

Opportunities for resources also abound. At this time, many business resources can be accessed at discounted rates. Vendors, online advertising companies, email marketing companies, and others who provide services to help your business succeed are cheaper than they were in the past (Forbes).

In many places, real estate costs are down. Those looking to find commercial space to rent are often finding landlords willing to include office renovations and flexible leases (Entrepreneur).

Current loan rates also make this a good time to start a business. “If you want to get a small business loan, interest rates have remained low and the fed doesn’t plan to increase them in the next few years” (Forbes).

For innovators with drive and imagination, now is your time to start a business. Whatever your idea, be sure your business has the proper insurance to keep it afloat and minimize risk. Some types of insurance are required by law. Though others are optional, it is essential that you talk with your insurance agent about available policies and risks associated if you consider forgoing various types of coverage.

If you currently own a business, it is important to meet with your insurance agent regularly to update your coverage, especially if your business has changed the way it operates, and thereby avoid paying for any coverage you don’t need. You can also avoid getting caught by surprise if your current policy doesn’t cover any changes in the way you operate or changes in the laws.

At Waitte’s Insurance Agency, we are always ready to talk to you about your business insurance needs. Give us a call at insert current phone number here..

Business Insider
Entrepreneur.com
Forbes
U.S. Chamber of Commerce

How other nations celebrate Thanksgiving

Happy Thanksgiving from everyone at Waitte's Insurance!

As we dive into the turkey and pie on Thanksgiving, we might enjoy learning about how others give thanks too.

Canadian Thanksgiving was first celebrated in 1578 when English navigator Martin Frobisher and his crew celebrated their safe Arctic journey in what is now Nanavut (History.com). Soon after, French settlers came to the area and “held feasts with their indigenous neighbors” (Readersdigest.ca). United States traditions were spread by those who moved into Canada from the southern border, and today, Canadian Thanksgiving looks much like our own. Though the celebration is held on the second Monday in October, most feasts will include the turkey we are familiar with, and following the meal, citizens will watch the Canadian Football League’s annual Thanksgiving Day Classic and enjoy spending time with their families (History.com). Other than the earlier date, the most remarkable difference between American and Canadian Thanksgiving may lie not in the meal but the additional activities. A Thanksgiving Day hike is a popular tradition as a means to enjoy the outdoors before cold weather sets in.

German Thanksgiving, known as Erntedank or Erntedankfest, is an autumn harvest festival that takes place in September or October depending on the region (German-way.com). In rural areas, festivities typically include church services, parades, and music. The church altar is decorated with huge crowns of wheat to represent the continuing seasons (Germangirlinamerica). Celebration in urban Germany begins with a church service including huge straw baskets on the altar filled with grain, fruits, and vegetables which are blessed and later given to the poor (Brightbhubeducation.com). Later in the day, the crowning of the harvest queen is followed by music, dancing, food, and in some cities a lantern and torch parade as well as fireworks shows (German-way.com).

Citizens of Vietnam also enjoy a harvest celebration; theirs is known as Tet-Trung-Thu. Held on the 15th day of the eighth lunar cycle, always during the full moon, this holiday falls somewhere between the end of September and early October (Readersdigest.com). This year celebrated on September 21, the festival marks the “ascendancy of the moon over the sun in winter, the bounty of life, and prayers for the return of the sun’s warmth and light” (“Children and Youth in History”). During the celebration, children wear tiger masks and bang on drums to frighten away Ra Hu, the mythological creature thought to have eaten pieces of the moon, in the hope that he won’t eat the entire moon. Legend suggests that the festival was created by parents who worried that their children felt neglected by the amount of time parents spent working in the fields. “The festival was a way to show children they were loved and appreciated, complete with a candlelit procession at dawn in their honor” (Readersdigest.com).

However you celebrate, we wish you a happy, healthy, and bountiful Thanksgiving!

Almanac.com
Brighthubeducation.com
Children and Youth in History
German-way.com

Cool Weather Critter Conflicts

As cooler weather prompts us, humans, to spend more time indoors, animals are also likely to be looking for protection from the elements. Unfortunately, conflicts with animals can be costly for homeowners.

Large animals have been known to cause structural damage. Deer may shatter glass doors; bears will enter a home through a large window or screen door (DNR). Small animals can also cause big problems. Raccoons may enter an open garage door or a pet door and wreak havoc in your garage or home.

Whether or not the damage is covered by your homeowner's insurance may depend on the type of animal causing the problems. Damage caused by raccoons, bats, opossums, and groundhogs is typically covered, while damage from squirrels, rats, and mice is not, as these are classified as rodents (Critter Control).

Damage caused by an animal not classified as a rodent may, thankfully, extend beyond the walls of your home. Your garage, deck, or porch will also likely be covered, and if a structure on your property is damaged that is not connected to your house, you may still be covered under “structures coverage” (Critter Control). Such structures may include a detached garage, shed, or fence (Critter Control).

The best news is that if you have not yet experienced animal damage, there are steps you can take to prevent it from becoming your problem.

Inspect your roof, porch, and basement regularly to look for openings. Cover and/or seal even tiny spaces or cracks (NPIC); any openings larger than one-fourth to one-half inch should be caulked.
“Use window screens, chimney caps, and draft guards beneath doors to attics, and flll electrical and plumbing holes with stainless steel wool or caulking” (these CDC recommendations are especially helpful for avoiding bats).
Keep tight-fitting lids on any garbage containers. Consider metal containers rather than plastic.
Empty any food bowls you use to feed pets outside as soon as they are done eating and store pet food inside or in heavy containers (NPIC).
If bears live in your area, be aware that a bear’s sense of smell is seven times greater than that of a bloodhound and 2,100 times that of a human (NIEH). This may prompt you to put away food from an outdoor meal sooner than you otherwise would. You would also be wise to keep food stored and sealed away rather than left out on counters or tables near an open window or screen door.

If you are not sure what your homeowner’s policy or renter’s policy covers, or if you are interested in an update, give us a call at Waitte’s Insurance Agency. We would be happy to discuss policy options to fit your unique needs.

Center for Disease Control
Connecticut Department of Energy and Environmental Protection
Critter Control
Department of Natural Resources
National Institute of Environmental Health
National Pesticide Information Center