It’s estimated that Hurricane Irma brought wind gusts of 90 miles per hour or greater across Florida. Even if your business didn’t suffer water damage, it’s extremely possible that the wind caused problems you expected your insurance company to handle. In coastal states, wind damage isn’t always covered by your general insurance policy. You need a separate wind insurance policy from Florida wind insurance companies to mitigate your loss following a named storm.
Review Your Insurance Policy to Know What Is Covered
Annually, you should go over your insurance policies with your insurance company to know what is covered and what is excluded. Wind insurance can include two kinds of protection. The first is against named storms, such as Irma or Maria. You can also get protection against wind or hail damage from general storms.
Water damage is often thought to be caused only by floods, but in some cases it’s the wind that allows water into your business. You might have water damage caused by a damaged roof, not because of a flood. This type of damage would generally be covered by wind insurance instead of your flood policy. Florida wind insurance companies can discuss the different types of policies with you to give you the information you need to make an informed decision about your insurance coverage.
When searching for a surety company in New Jersey, there are many companies vying for your attention, but it’s often a smart move to do business with a company that specializes in your particular industry. Additionally, choosing one that’s local to your area may often mean that agents are more engaged in their immediate community and able to forge a more meaningful business relationship with their clients.
These companies are skilled at pinpointing the various factors that businesses face, and their agents will often take the time to explain in detail the coverage and limits of each policy. If needed, they can often perform a thorough analysis of a business’ day-to-day operation and offer suggestions towards cost-saving.
Most companies have customer service lines with knowledgeable agents ready to provide assistance. Many also have convenient online forms for their customers who need to perform simple transactions such as reporting a change of address or printing evidence of coverage.
It’s often best to select a surety company in New Jersey that has a solid, dependable reputation. These companies are aware that some situations may be complex and time-sensitive, and can be crucial to the success of a business. Their agents are readily available and will go the extra mile to ensure your needs are met.
Known for its glitz and glamour, traffic and tinsel, Los Angeles is The City of Angels. Unfortunately, all the big budget Hollywood flicks and A-list celebrities in the world won’t keep reality from striking in the form of calamity. Earthquakes are the fodder of many a Hollywood production, but the real and present danger of these natural disasters looms over the head of every Los Angelean. Los Angeles insurance companies are there to provide for Californians when the worst feasible situation comes true. All you need to do is have the foresight to purchase a plan to prevent disasters from ruining your life.
Los Angeles insurance companies are also there to provide automobile insurance to the frustrated LA driver stuck on the 402. Notorious traffic in LA can cause the sanest of individuals to go crazy. Don’t be crazy and neglect getting car insurance for your vehicle. Statistics show that more cars on the road equates to more car accidents. When your livelihood depends on a commute from valley to valley, don’t leave the security of your work up to the fate of the road. One uninsured car accident can lead to the loss of a vehicle, the inability to get to work, and the eventual loss of a job.
Dealing in recreational vehicles, such as selling boats and yachts, means having the right insurance coverage for your facility. A recreational marine insurance wholesaler can help you evaluate what kind of coverage your facility or dealership needs, but here is a look at some of the more important pieces of this purchase.
Whether you show boats in a showroom or on a dock, you need insurance to cover any possible property damage. This could be damage to your merchandise or caused by your merchandise, such as roughing a dock if a boat becomes lose in a storm. That means property coverage should include merchandise, personal property, piers, wharves and docks.
Employees at your facility also need insurance coverage as dictated by local, state and federal laws. Worker’s compensation is just one kind of coverage employees need in order to feel secure at their place of work. Alternately, protection in case an employee commits an illegal or risky act is also important.
Choosing the right recreational marine insurance wholesaler means knowing what kind of insurance coverage you need and who can supply it. Protecting people and property is a must since this can create an atmosphere of trust. Covering for property damage and employee accidents can also save your facility money in the long run.
A personal umbrella policy is designed to provide you with added insurance when your primary policies aren’t enough. A typical homeowners insurance policy has about $100,000 of personal liability. Medical costs could quickly use up most of that amount, leaving you liable for any costs above that amount. If you had umbrella insurance from Olson Insurance Agency, you would most likely be covered.
An umbrella policy is often an affordable asset protection. It’s not only for the wealthy, but for anyone who is concerned about a lawsuit that could wipe out his or her finances. Umbrella policies can be an added peace of mind in your insurance portfolio. Umbrella policies can also cover legal expenses and judgements if you are sued. Some policies even protect you against things that have nothing to do with your car or home, such as libel, invasion of privacy or false arrest. It depends on the policy and its exclusions and coverage.
In today’s litigious society, anyone with assets can be at risk for being sued. An umbrella policy can fill in gaps that your regular policies won’t cover. At Olson Insurance Agency, you can work with your agent to determine if an umbrella policy would benefit your bottom line. If you need comprehensive coverage to protect your personal assets, an umbrella policy could be what you need.
When you are thinking about the kind of insurance your business needs, it may be helpful to consider the wide variety of business owner’s policy coverages that are available. Some of the major disasters you might want to be covered for include fire, flood and earthquake. You could also consider coverage for minor damage due to theft, vandalism and insect damage.
One great aspect of a business policy is that it can be combined into a personal policy so you have comprehensive insurance for your home, your cars and your business assets. All of these assets can be protected under one umbrella. This kind of policy might also generate a substantial discount.
If your business has special needs and serves a specific market segment, your policy can be customized to meet those needs. These types of coverages might include exterior structures, glass, signs and equipment breakdown. Your business can even be covered for interruption of business. Then, if your business can’t operate due to a covered loss, you can be reimbursed for the money you are not making.
Be sure to contact an insurance expert to find out about all the business owner’s policy coverages that are available to you and get your protection and peace of mind secured as soon as possible.
The water risks involved in the water treatment industry can be easily underestimated or overlooked. This creates unnecessary exposure for your business. Is this happening to you? In today’s litigious business environment, it is essential to ensure that you have the correct water treatment insurance in order to protect your assets against claims.
Water treatment companies, contractors, consultants, and sub-contractors engage in the prevention and control of legionella (the bacteria that causes Legionnaires’ disease) as well other contaminants. This includes those who supply, install and maintain water treatment equipment in addition to the businesses that treat, purify, and disinfect water systems, potable water and industrial water. In the past, there has been a lack of understanding of the liabilities associated with the water treatment industry. The result was inadequate coverage. It was common to find standard policy restrictions exclude major risk categories.
Legionnaires’ incidents have been increasing in recent years. Legionnaires’ disease is a life threatening bacterial infection with an estimated 10% risk of death. These cases can be incredibly costly. Should you ever find yourself involved in one of these cases, it is imperative to have the correct policies in place to protect your business. Water treatment insurance is designed specifically to cover the liabilities associated with legionella contamination and other risks specific to the water treatment industry.
An important recent change in the way civil money penalty liability insurance is handled by financial institutions involves the holder of the policy. Whereas this protection was once a component of a larger leadership D&O insurance policy, it is now divided off and held by individual officers and directors.
A Shift Towards Individuals
This widespread change is due to many factors, but chief among them is the increased scrutiny of regulatory bodies. This oversight has led to many officers accepting the personal responsibility for risks associated with their own professional ethics. Leadership members now often hold and pay for these policies as individuals.
The Institutional Context
The fact that these civil money penalty liability insurance is most often held by individual members of the financial organization’s leadership does not preclude them from being affected by the institution itself. In fact, the opposite is true. Many important policy factors hinge on the institution:
- Premium amount
- Policy availability
- Coverage level
Different institutions might pay more or less for the same amount of coverage. Determining this cost typically requires a close analysis of the structure and history of the company. Additionally, as this type of insurance is often viewed as a preventative or a peace of mind policy, it might be difficult to obtain civil money penalty liability insurance if such penalties have been issued to an institution in the recent past.
If you are like many people, you want to save money on your insurance. You may have just added coverages for your personal life and your business as you have needed it over the years and not given it much thought. You might even obtain policies from multiple agents and companies. A way to possibly simplify your life, and maybe save a little money in the process, is to bundle all of your coverages with one insurance agent or broker. In New England, IFS Insurance is a company that could work with you as you try to bring all of your needs under one roof.
You may be asking, “What’s the payoff?” It could, in fact, be two-fold. First, by combining coverage, you will immediately have an opportunity to establish a better relationship with your insurance agent. The step of moving all of your policies to one place can demonstrate that you understand the value of insurance and possibly want more service for your money. It can also signal that you no longer view insurance as simply a commodity, but as a vital part of both your personal and business finances.
Secondly, some insurance companies are sometimes willing to discount premiums when you have more than one policy with them. This decision could pay you dividends for years to come. A company like IFS insurance, that handles almost all types of insurance coverage, will probably be happy to discuss your individual needs and concerns about your current situation.
Are you getting tired of working for someone else? Do you you toil away and get less than you deserve? If you are ready to start your own business, you are among millions of Americans that have decided to take control of their livelihood and work for themselves. There are many factors to consider before you get out on your own. You will need to deal with things like cash flow, taxes, office space and commercial insurance in Wilmington, DE. Here are a few easy steps to get you started.
Make a Plan
You may have a mental picture of your business. However, you will likely need more than that to have a good chance of succeeding. Create a formal business plan by reading a book or seeking help from an agency like the Small Business Administration. Business plans come in handy for the next step, and they are great to keep on hand to help you stay on course.
Get a Loan
Many people starting businesses need an initial inflow of cash to get them started. Start with the banks. If that does not work out, you can look around for one of the many alternative funding sources available.
Buy a Commercial Insurance Policy
Just about every type of business could be wiped out by events beyond their control. Having insurance in Wilmington, DE, could help protect you from having to cope with unplanned loses due to things such as disaster, theft or fire.