Finding Affordable Insurance That’s Right for Your Small Business – Todd Kohout, T. Hudson Risk Advisors

Every single business needs insurance, but it’s often difficult to find affordable insurance that is right for your company. Here to talk about the variety of options that small businesses have when choosing and paying for insurance is Todd Kohout, CEO at T. Hudson Risk Advisors LLC.

Todd explains that the purpose of insurance is to protect a business owner for events or claims that could happen during a normal operating course of business, and despite the fact that there are only a few necessary to be in compliance with the law, business owners truly need four basic types of coverage; general liability, property, business auto, and workers compensation.

Focusing on workers compensation, Todd talks about how important it is to protect not only your employees but also yourself as a business owner. Georgia, specifically, has a deductible threshold that is different from other states in that it is $2,500, meaning that you can have a deductible of up to $2,500 and any claims that your company has that are less than that don’t get used against you. This is especially key in keeping costs low when it comes to workers compensation.

Additionally, there are several options of how to pay for this insurance that most business owners are not aware of. One is an estimated premium that is based on 10 equal payments over the course of 10 months. Another option, which Todd recommends for small business owners, is monthly reporting. And while price is very important there are other factors to consider that are equally important; what services your insurance agency is providing you, and the goal for the insurance agent or agency is to be building a relationship between the client and the carrier.

To hear more from Todd Kohout and to learn more about insurance options for small businesses check out the full interview above.


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