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Why You Need a Certificate of Financial Responsibility

Why You Need a Certificate of Financial Responsibility

Why You Need a Certificate of Financial Responsibility

There are a number of moving parts involved with running a business that involves seafaring vessels. In order for you to stay successful, you need to take time to consider the various rules and regulations governing your specific type of work. Obtaining a COFR, for example, might be a vital step for your business to make in the near future. Also known as a Certificate of Financial Responsibility, this certificate is a must for any business that fits the criteria.

Who Needs This Certification?

According to the experts at, only certain ships need to consider obtaining a Certificate of Financial Responsibility. Essentially, any boat weighing over 300 tons and traveling US waters absolutely needs this type of certification. If your vessels are under 300 tons, they will still need the certificate if they are used to ship oil in the Exclusive Economic Zone of the United States. Exceptions to this rule include:

  • Self-propelled barges
  • Small ships that don’t carry oil for fuel or cargo
  • Ships that carry no hazardous substances for fuel or cargo

Meeting the Standards

Should your business meet the standards set forth by the United States government, you absolutely need to get started on filling out an application for a Certificate of Financial Responsibility. The sooner you get started, the easier it will be for you to protect your business against any unforeseen events.


Tips for Taking Babies on the Water

Tips for Taking Babies on the Water

If you love sailing, it’s only natural that you want to share the experience with your children. There is some concern about whether it is safe to take infants on boats, but the truth is that as long as you and other adults on board take the necessary steps to ensure the safety of children, it’s safe and can be a fun time for the whole family.

The Dos and Don’ts of Taking Children on a Boat

As with most activities involving children, there are some tips you should follow to create a safe and pleasant environment. The following is a short list of things you should do:

  • Have children wear the appropriate-sized life jacket at all times
  • Make sure there is enough shade
  • Prepare for nap time
  • Pack enough supplies, including diapers, formula and snacks
  • Designate a safe child area

While there are things you should do, there are also things you should not do. Take a look at the things you should avoid:

  • Forgetting sunscreen
  • Bringing a child on a boat by yourself
  • Letting the child be unsupervised
  • Forgetting appropriate clothing, such as a jacket
  • Disregarding the weather forecast

Have a Fun and Safe Sailing Trip

Can you take infants on boats? Absolutely, but there are certain dos and don’ts you should follow. By implementing the tips provided by Mariners Insurance, you can have a fun time on the water with your children.


What’s the Best Insurance to Cover Your Yacht?

What’s the Best Insurance to Cover Your Yacht?

You worked hard to get where you are in life – to purchase the things you want, such as your yacht, luxury cars or special collector’s items. Now, it’s time to protect the things you love with the right innovative solutions insurance services. Buying the correct insurance for a luxury item such as a yacht can make sure your assets are covered, no matter what.

Types of Yacht Insurance

Don’t purchase just any boat insurance to cover a yacht. Take out more than the minimum for full coverage – otherwise, you could end up paying for costly repairs out of pocket. The general types of yacht insurance you may want to purchase include the following:

Collision liability insurance
Property damage insurance
Bodily injury liability insurance
Comprehensive coverage
Uninsured/underinsured boater insurance

You will want to speak to an agent for innovative solutions insurance services to match your exact needs. An insurance agent will get to know your assets, analyze risk factors and recommend the best type of boater’s insurance for your yacht.

Comprehensive Coverage for All Your Assets

One of the greatest perks about working with an agent is that you can purchase insurance to cover all your high-value assets at the same time at your yacht. Your agent can create a comprehensive plan to cover all your assets, using innovative solutions insurance services that can get creative with your coverage. That way, you get the best insurance for the best price.


A Consolidated Loss Prevention Plan

A Consolidated Loss Prevention Plan

A Consolidated Loss Prevention Plan

As a business owner, you might be very cautious when it comes to spending. Your budget might require careful consideration with every purchase, and this could extend to insurance. Although an expensive necessity, the costs incurred from lawsuits or claims when you don’t carry a liability policy can be devastating to your company. If you are thinking about protecting against a range of liabilities, consider a broadform liability insurance policy.

Comparing Coverage Options

Many small businesses opt to purchase a public liability policy to protect their company from claims of loss. These situations are associated with physical or property damage caused by a third party in a location where your business is deemed responsible. However, this coverage isn’t comprehensive enough to address concerns that arise from the use of your company’s products. This gap exposes the product as liable rather than the services or location of the business. Instead of purchasing a product liability contract, a broadform policy can address the need.

Combining Your Coverage

A broadform liability insurance policy is responsible for claims of liability regardless of whether it is public or product fault. It covers loss associated with your product or physical work. Although it is more comprehensive than an either/or situation, it is still important to talk with your insurance broker about the details. There are many details to be worked out to ensure you are fully protected.


Protecting Your Business From the Public

Protecting Your Business From the Public

Protecting Your Business From the Public

Whenever a business allows people outside of the company onto business premises, there are risks involved. Public liability insurance, or PLI insurance, is beneficial and essential for any business that has physical contact with the public.

Coverage Limitations

PLI insurance is considered to be the bare minimum for commercial insurance that businesses need if they invite anyone outside the company into the business. Whether these people are from a third party or the public, your company takes a risk by allowing them on the property if they are not employees. People covered by this insurance include:

Customers to a retail store
Delivery personnel
Office visitors

Under your commercial insurance, you most likely have a policy that protects your employees in cases of injuries or illnesses. This policy is similar in that your business is held responsible for what happens to visitors. However, rather than protecting visitors, it protects your business. The insurance policy itself is designed to safeguard the company from claims of the following on the business premises:



Basic Coverage for Your Business

If you own a business that allows members of the public to access the premises, you need PLI insurance as the base level of protection. That way, if an accident happens and someone from the public files a claim against you, your business is protected.


An Insurance Company in the Protection Business

An Insurance Company in the Protection Business

An Insurance Company in the Protection Business

When you need an insurance policy, you want to work with an agent that has your best interest at heart. Owens Group Insurance is in the business of protecting people’s professional and personal lives, making it an ideal choice for business professionals and individuals.

Protecting Your Personal Life

Each person’s individual risks may be different depending on lifestyle, which is why your policy should be created especially for you. That is why an agent conducts a risk assessment to determine your coverage. You can keep many areas of your personal life secure with coverage options including:

Auto insurance

Homeowners insurance

Travel insurance

Watercraft insurance

Kidnapping and ransom

Cyber security

Personal umbrella

Safeguarding Your Business

A business should be covered in case of a disaster or lawsuit. However, each industry is different and requires various levels of coverage. For example, an IT company may need more cyber liability than a construction company. After an assessment, an insurance agent can build a policy around some of the following coverage areas:

Executive liability

General liability

Professional liability

Cyber liability

Intellectual property

Workers’ compensation

Earthquake and flood coverage

Commercial property

Since 1957, Owens Group Insurance has been protecting individuals and businesses. To mitigate disasters in both your personal and professional lives, you should choose an insurance company you can trust and rely on in stressful situations.


How to Be Competitive in the Insurance Industry

How to Be Competitive in the Insurance Industry

How to Be Competitive in the Insurance Industry

Anyone in the insurance business likely understands why it can be a profitable venture. Insurance is needed for virtually every facet of home and work life, especially in more areas that are more litigious or carry a higher risk. While the demand for insurance may be consistent, it can be a very competitive industry. If your company specializes in insurance, digital marketing can give you the edge you need to make your company stand out.

How Digital Marketing Works

Having a digital marketing campaign can be very useful especially if your client base includes people that prefer electronic communication. In a world where it is relatively common for people to have access to multiple devices, this can be imperative for the success of your business. Digital marketing can include the following types of strategies:

Using effective website design viewable across multiple platforms and devices

Reaching your social media audience

Utilizing research on search engine optimization

Using engaging content to attract potential clients

Documenting website traffic

Managing website and keeping it regularly updated

While there may be years of collective research on traditional marketing methods, digital marketing is constantly changing based on many variables. If you work in insurance, digital marketing experts can be a major asset to your business’s success. By contacting a professional that keeps up with the latest in this type of approach while understanding the fine details involved in the insurance industry, you can feel confident that you will be in good hands.


The Value of Insurance for Your Cargo

The Value of Insurance for Your Cargo

The Value of Insurance for Your Cargo

It can be complicated to ascertain what types of insurance coverage to use to properly protect your business, especially when it comes to cargo transportation. Motor truck cargo insurance can be especially important since many insurance carriers will not cover a transportation company if they do not have this type of insurance. To make sure your business is not left vulnerable, keep these tips in mind.

1. Establish Needs

Take a look at the type of cargo your company usually transports, as well as how much is carried and the distance your trucks travel. This way, you can make sure you are getting the correct motor truck cargo insurance that you need.

2. Understand Limitations

Some types of cargo are usually excluded from coverage by insurance companies. This category can include items like alcohol, electrical units and clothing. Other carriers might not exclude this kind of cargo, but rather assign it a higher deductible. It can be worth it to ask the insurance company if they have any limitations that may affect your business.

3. Explore Additional Options

Your company may benefit from extra motor truck cargo insurance options. These can include coverage for unattended vehicles and theft, which are two scenarios often faced in the cargo transportation field.

It is crucial to find an insurance plan that adequately handles your needs in order to avoid potentially costly incidents in the future. By protecting your cargo and company today, you protect your future as well.


Protecting the House While on Vacation

Protecting the House While on Vacation

Now that the sun is coming out and the gloominess of winter is leaving, wanderlust is taking its place. The arrival of spring is a great time to take a much-deserved vacation. Before packing a suitcase, start planning how to manage the day-to-day care of the house. If it is going to be empty, how protected are the valuables in the home? Enjoy a stress-free vacation by taking a couple of precautions before leaving home.

Insure Valuables

Family heirlooms like jewelry and fine art are irreplaceable treasures. It is important to take an inventory of specific items and have them appraised. Once you know the value, it is time to shop for insurance. Northstar Insurance Company is a great place to start when insuring valuables. You’ll breathe easy knowing that these precious items are protected.

In Case of Emergency

Expect the unexpected while vacationing and prepare in case something happens. Being away from home does not mean that all is lost. Northstar Insurance Company offers other types of coverage so that peace of mind can come in one package deal including:

  • Homeowners
  • Motorcycle and auto
  • Yacht and boat

When you have planned ahead and protected your investments and prized possessions, you can rest easy.

While on vacation, worrying about the safety of the home and valuables shouldn’t be on the to-do list. Enjoy the time away and leave the stress at home.


Filling the Gap: Accident Coverage for Independent Truckers

Filling the Gap: Accident Coverage for Independent Truckers

For most employers, the risk of a work-related injury or death of an employee is mitigated somewhat by the workers compensation coverage that most states require companies to carry. Such coverage, however, extends only to salaried employees.

Who Is Responsible?

Companies that utilize 1099 contract workers like owner-operated truck drivers face a conundrum. It is a given that accidents can and do happen in the trucking industry. It is also a given that independent drivers are not covered by a workers comp policy. So, who pays in the event of a serious accident involving an owner-operated truck?

Ultimately, the employer & the company employing the driver on a contract basis & is responsible. Left uninsured, a business is exposed to tremendous financial and legal consequences. Occupational insurance is one way to fill this gap in coverage.

What Does It Cover?

Accident insurance for truckers varies depending on a company’s needs, and policies can be tailored as such. Still, most policies include the following:

  • Accidental death and/or dismemberment benefits that are normally determined by a formula that factors in a contractor’s annual earnings
  • Payment of medical claims arising from a single incident
  • Disability benefits that pay a portion of the employee’s salary for a prescribed amount of time

Provisions can also be added to occupational insurance policies to cover legal fees should a 1099 worker sue the company. Consider your needs and budget and consult an experienced insurance agent or broker today. Don’t count on that accident not happening to you.