With hull insurance, you can count on coverage for physical damage to your craft. This includes damage obtained while in the air or on the ground, and while the craft is not in motion. The coverage extends to the craft’s engine, controls, navigation and computer equipment as well as the hull itself.
Generally, these policies will not cover any lost or damaged personal effects on board, but liability insurance may offer some coverage for passengers’ lost, damaged or stolen items. Policies will have a deductible that is either a set dollar amount or that is based on a percentage of the loss.
Aviation Liability Insurance
Liability insurance for your aircraft covers the bodily injury of non-owners such as visitors and passengers. It also covers the property damage a non-owner might experience as well as medical payments for injuries obtained onboard.
If the aircraft is used for business purposes, then corporate aviation insurance should be obtained to protect the company’s property. If the craft is used for commercial trips then commercial aviation is needed to help protect both your business and your customers. Some may find that they need additional coverage for the type of services they perform (such as law enforcement or emergency medical services) or the cargo they haul. Additionally, certain aircraft, such as helicopters, may need specialized coverage.
A church is more than a building. It’s a community.
A church is a worship center where people unite in a familiar, comfortable environment. Individuals seeking spiritual guidance join together to form a familial bond. It is your ministry’s duty to maintain a safe and welcoming facility. Should disaster strike, a church insurance policy can protect the community physically and emotionally in times of need.
What types of church insurance are available?
Like other kinds of insurance, there are a variety of options to choose from in regards to church insurance. Most plans include property and liability coverage.
Property coverage protects buildings, signage, fences and contents from damage and theft. Some of the non-standard items that are covered include, but are not limited to, the following:
•Stained glass windows
•Equipment failure, including electronics
•Fire and security alarm upgrades
•Personal property loss worldwide, e.g., items lost on a mission trip
Liability coverage protects the ministry against claims of property damage or bodily injury that occur on church property or at a church-sponsored event. Enhanced liability coverage includes, but is not limited to, the following:
•Personal injury liability
•Teacher/governing board liability
•Specialized emotional injury liability
•Sexual misconduct liability
•Directors, officers and trustees officers liability
•Employee practices liability
It may be beneficial to add commercial auto insurance and workers compensation to your policy for added protection.
Make the most of your church insurance.
In addition to your property and liability coverage, you can add a variety of optional coverages so your policy is customized to your church’s needs. These can include the following:
•Lost wage coverage
•Key person replacement coverage
•Computer fraud coverage
Contact us today to learn more about coverage options. Our agents are happy to work with you to determine which coverages best meet your needs.
Condo associations generally have insurance policies that cover the property of the common areas, outdoor areas and the exterior walls of the condominium buildings. In addition, their general liability policies generally cover injuries obtained by non-residents in these common and outdoor areas. But the interior walls and inside of each condo unit is the responsibility of the unit owner. A property insurance policy for your condo will cover the interior walls, appliances, floors and, if designed properly, the personal contents within the walls of your home when damage occurs due to a covered hazard such as fire, theft, vandalism or hurricane. If the condominium is located in a flood zone, then flood insurance should also be secured since the condo association’s policy won’t cover your personal losses due to flood, and standard condo insurance policies don’t generally cover that damage.
Condo owners should also consider general liability insurance for their units. While the association policy should cover injuries that occur in common areas or outside the condo unit, anything that happens inside is the responsibility of the unit owner. While a general liability insurance policy may be enough for some, others might consider the higher limits of an umbrella policy for extra protection that also extends to their automobile.
When discussing condo insurance, it’s also important to note the major differences between condo and townhouse insurance. With townhouse ownership, the unit owners are expected to secure insurance that also covers the exterior walls, patios and balconies, and certain outside areas. Therefore, townhouse and condo insurance are not interchangeable, so be sure to find out which type of home you own so you know for certain which type of policy you need. When in doubt, ask the association to see the master policy so that you can find out exactly what’s covered by it—and what isn’t.
or builders risk insurance, covers your home or business property during a very important phase –the period during which it's being built. Home insurance and commercial property insurance are both designed to protect a structure that is already finalized. Buildings that are under construction have different risks than property that is already built and, thus, require different insurance.
Construction insurance covers your property only during the time that it is under construction. As soon as materials are ordered for the site it your policy is effective and it is cancelled as soon as the property is sold or occupied, unless the policy’s expiration predates these events in which case you may need to renew the policy or take another.
Insurance policies are designed to make policyholders whole after a financial loss. This is an important distinction to make when it comes to construction insurance because it means that only actual financial damages are covered by the policy, not the loss of the potential value of the home. That means if a fire ruins the semi-built structure and the supplies, the insured will not receive the potential value of the home had it been finished, but instead will receive the actual financial loss they've experienced through the materials that were damaged. Some policies may include coverage for additional losses, such as interest spent when a project takes longer to complete than originally anticipated.
Construction policies can be purchased for both residential and commercial properties. This includes vacation properties or properties intended to be quickly sold to residential buyers.
There are many forms of insurance. Some, like car insurance, only provide a benefit to the few people who have a costly accident. Some, like life insurance, typically don't provide a benefit for many years. Some, like medical or health insurance, provide immediate benefits, but can be very costly. Dental insurance is rather unique. First, its low cost makes it highly affordable for individuals and families. Second, because dental insurance encourages and generally pays for regular check-ups, many people who purchase protection start to benefit immediately. Finally, the price of maintaining a healthy mouth can cost hundreds ... even thousands of dollars. Should you ever need costly care, from filings and crowns to periodontics and orthodontics, your dental insurance will be there to provide benefits when needed. So, if you buy dental insurance, you will probably use it. And, like millions of Americans who have protection, you'll probably be glad you did.
Errors and Omissions
What is errors and omissions insurance?
Errors and omissions (E&O) insurance provides coverage for businesses or individuals for when they are held responsible for a service provided, or failure to provide a service, that did not have the expected results. For doctors, dentists, etc., it is called malpractice insurance. For professionals like lawyers, accountings or engineers, it may be called professional liability. Regardless of its name, E&O insurance covers any errors or omissions that either you have made or that the client perceives you have made.
The number of liability lawsuits against professionals has increased in recent years. Many professionals are at risk of being sued. Small companies can go bankrupt from the cost of lawsuits. Even large companies can experience an impact to their bottom line. An E&O policy covers legal fees and settlements in such scenarios, regardless of fault.
Who benefits from errors and omissions insurance?
If your business provides a service for a fee, you have an E&O exposure. Have you thought about what could happen if the service is done incorrectly or not performed in time? Even with quality employees and risk management practices in place, people still make mistakes. A general liability policy may not cover mistakes that could be made. Errors and omissions insurance will protect your business and its finances if such an event arises.
Get started today
There is not a standard E&O policy. We will evaluate your business to determine your specific exposures and help you get the coverage you need. If you think you might need an E&O insurance policy, give us a call. We are happy to assist you today.
There's something you should know: Flood losses are not covered by your homeowners insurance policy.
Floodwaters have the power to damage not only your home and sense of security, but also your financial future. How can you protect your most important investment in case of flooding?
Option 1: Hope that you'll receive Federal disaster relief if a flood hits.
Many people wrongly believe that the U.S. government will take care of all their financial needs if they suffer damage due to flooding. The truth is that Federal disaster assistance is only available if the President formally declares a disaster. Even if you do get disaster assistance, it's often a loan you have to repay, with interest, in addition to your mortgage loan that you still owe on the damaged property.
Most importantly, you must consider the fact that if your home is flooded and disaster assistance isn't offered, you'll have to shoulder the massive damage costs alone. The bottom line is that if you're looking for secure protection from financial loss due to flood damage, Federal disaster assistance is not the answer.
Option 2: Buy flood insurance and stay protected no matter what.
When disaster strikes, flood insurance policyholder claims are paid even if a disaster is not Federally declared. Flood insurance means you'll be reimbursed for all your covered losses. And unlike Federal aid, it never has to be repaid.
In general, a policy does not take effect until 30 days after you purchase flood insurance. So, if the weather forecast announces a flood alert for your area and you go to purchase coverage, it's already too late. You will not be insured if you buy a policy a few days before a flood.
What kinds of health insurance are there?
There are essentially two kinds of heath insurance: Fee-for-Service and Managed Care. Although these plans differ, they both cover an array of medical, surgical and hospital expenses. Most cover prescription drugs and some also offer dental coverage.
These plans generally assume that the medical professional will be paid a fee for each service provided to the patient. Patients are seen by a doctor of their choice and the claim is filed by either the medical provider or the patient.
More than half of all Americans have some kind of managed-care plan1. Various plans work differently and can include: health maintenance organizations (HM0s), preferred provider organizations (PPOs) and point-of-service (POS) plans. These plans provide comprehensive health services to their members and offer financial incentives to patients who use the providers in the plan.
What is 'long-term care'?
Because of old age, mental or physical illness, or injury, some people find themselves in need of help with eating, bathing, dressing, toileting or continence, and/or transferring (e.g., getting out of a chair or out of bed). These six actions are called Activities of Daily Living–sometimes referred to as ADLs. In general, if you can’t do two or more of these activities, or if you have a cognitive impairment, you are said to need “long-term care.”
Long-term care isn’t a very helpful name for this type of situation because, for one thing, it might not last for a long time. Some people who need ADL services might need them only for a few months or less.
Many people think that long-term care is provided exclusively in a nursing home. It can be, but it can also be provided in an adult day care center, an assisted living facility, or at home.
Assistance with ADLs, called “custodial care,” may be provided in the same place as (and therefore is sometimes confused with) “skilled care.” Skilled care means medical, nursing, or rehabilitative services, including help taking medicine, undergoing testing (e.g. blood pressure), or other similar services. This distinction is important because generally Medicare and most private health insurance pays only for skilled care–not custodial care.
What are the types of disability insurance?
There are two types of disability policies: Short-Term Disability (STD) and Long-Term Disability (LTD):
1.Short-Term Disability policies (STD) have a waiting period of 0 to 14 days with a maximum benefit period of no longer than two years.
2.Long-Term Disability policies (LTD) have a waiting period of several weeks to several months with a maximum benefit period ranging from a few years to the rest of your life.
Disability policies have two different protection features that are important to understand.
1.Non-cancelable means the policy cannot be canceled by the insurance company, except for nonpayment of premiums. This gives you the right to renew the policy every year without an increase in the premium or a reduction in benefits.
2.Guaranteed renewable gives you the right to renew the policy with the same benefits and not have the policy canceled by the company. However, your insurer has the right to increase your premiums as long as it does so for all other policyholders in the same rating class as you.
In addition to the traditional disability policies, there are several options you should consider when purchasing a policy:
•Additional purchase options
Your insurance company gives you the right to buy additional insurance at a later time for an additional cost.
•Coordination of benefits
The amount of benefits you receive from your insurance company is dependent on other benefits you receive because of your disability. Your policy specifies a target amount you will receive from all the policies combined, so this policy will make up the difference not paid by other policies.
•Cost of living adjustment (COLA)
The COLA increases your disability benefits over time based on the increased cost of living measured by the Consumer Price Index. You will pay a higher premium if you select the COLA.
•Residual or partial disability rider
This provision allows you to return to work part-time, collect part of your salary and receive a partial disability payment if you are still partially disabled.
•Return of premium
This provision requires the insurance company to refund part of your premium if no claims are made for a specific period of time declared in the policy.
•Waiver of premium provision
This clause means that you do not have to pay premiums on the policy after you’re disabled for 90 days.
There are many kinds of life insurance, but they generally fall into two categories: term insurance and permanent insurance.
Term insurance is designed to meet temporary needs. It provides protection for a specific period of time (the "term") and generally pays a benefit only if you die during the term. This type of insurance often makes sense when you have a need for coverage that will disappear at a specific point in time. For instance, you may decide that you only need coverage until your children graduate from college or a particular debt is paid off, such as your mortgage.
In contrast, permanent insurance provides lifelong protection. As long as you pay the premiums, and no loans, withdrawals or surrenders are taken, the full face amount will be paid. Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep over a long period of time.
It's impossible to say which type of life insurance is better because the kind of coverage that's right for you depends on your unique circumstances and financial goals.
But remember, the best way to figure out the amount and type of life insurance that makes sense for your particular situation is to meet with a qualified and licensed life insurance professional.
As the owner a limousine service, you have many different responsibilities when it comes to insurance. First, you must protect your own financial interests. Next, you must consider your employees’ best interests. Finally, you need to consider what your customers have at risk.
Commercial Auto Insurance
The first and most obvious coverage that you'll need for your limo service is commercial auto insurance coverage. This will provide protection for damages to your fleet as well as bodily injury and property damage to your customers and other individuals who could be negatively impacted by your limos or drivers.
Commercial Property Insurance
Next you'll want to consider protecting the business property you have at your office or storefront. Commercial property insurance can pay for losses of both the building and the contents within as well as certain outside structures. It's important to note that commercial property insurance does not cover flood damage so you'll need to secure that policy separately if you are at risk.
Additional Liability Coverage
There are a few different types of liability coverage a limo service should consider. General liability insurance covers any lawsuit that your business faces from its client's, including for false advertising and slander. For even higher coverage limits, you can consider a commercial umbrella insurance policy, which adds an additional limit to all of your underlying liability policies.
In order to protect yourself and your employees you'll also want workers compensation insurance to pay for the medical expenses and lost wages of employees who are injured on the job. For additional protection you can secure employment practices liability insurance, which will cover you from lawsuits and judgments awarded for certain unintentional and inappropriate employment practices.
What is malpractice insurance?
Malpractice insurance, also known as professional liability insurance, covers doctors, nurses, surgeons, dentists and other medical professionals in the event of a malpractice lawsuit. Malpractice is a medical error that has resulted in an adverse outcome, such as injury or death. In a malpractice lawsuit, the error must be proven to have been caused by negligence or a departure from the standard of care. Malpractice insurance compensates legal fees, regardless of fault, and any damages awarded.
With liability lawsuits on the rise in recent years, medical professionals remain at risk. A lawsuit can mean financial ruin both professionally and personally, including the loss of homes, cars and careers. Malpractice insurance protects your practice and can offset the risk and cost of these events.
What types of malpractice insurance are available?
There are two types of malpractice insurance. While they offer coverage for the same risks, the difference is how and when that coverage takes effect.
•Occurrence: Covers claims that occur while your policy is active. A claim can be reported at any time, even after the policy’s cancellation. Coverage is available with the terms and conditions in effect at the time of the claimed incident.
•Claims-made: Covers claims that both occur and are reported on or after the retroactive date (the first day claims-made coverage begins) and before the policy is cancelled.
Get started today
If you need malpractice insurance, we will evaluate your establishment or practice to determine its unique insurance needs and find you the policy with the necessary coverage. Call us if you have questions or want to get started. We are happy to help you get the protection you need.
What is Medicare?
Medicare is a fee-for-service health care program for seniors, in which the government pays health care providers directly for services that fall under Parts A and B of Medicare benefits (see below). However, if you are looking for more coverage than Original Medicare, you can purchase one of our Medicare Advantage Plans to receive all your Part A and Part B benefits.
Medicare is divided into four categories. This allows you to customize your personal coverage when shopping for a comprehensive policy.
•Part A (hospital insurance): Covers hospital care, emergency services, nursing home care, home health services and hospice.
•Part B (medical insurance): Covers medically necessary services and supplies used for diagnosing and treating medical conditions, and preventative services for illness prevention and/or early detection. Examples include ambulance services, mental health care, outpatient procedures and clinical research.
•Part C: Combines Parts A and B and often part D as well.
•Part D: Offers prescription drug coverage.
What Medicare options are available?
Original Medicare offers coverage for services and supplies that are considered to be medically necessary, such as doctor visits, lab tests and wheelchairs. There are several alternative plans you can choose from for additional coverage, and each plan must offer at least the same coverage as Original Medicare. There are two Medicare plans that we can assist you with.
1.A Medicare Advantage Plan, also known as Part C, combines Part A and Part B as a replacement to Medicare for more comprehensive health care coverage. This plan can be customized with additional coverage, such as a prescription drug program (Part D), vision and dental.
2.A Medicare Supplemental Plan, also known as Medigap, has a higher premium but supplements the coverage gaps and deductibles that Part A and Part B leave behind.
Why do you need Medicare?
Seniors are in the most need of health care, but once retired monthly premiums can become hard to maintain. Enrolling in the Medicare program allows you to get the care you need for a minimal charge.
Contact us today to learn more about coverage options. We are happy to work with you to determine which Medicare options works best for you.
Why do you need insurance for your motorcycle?
You'll enjoy being out on the open road even more when you're not worried about the safety of yourself, your passengers or your investment. Here are a few things to consider:
•If you're in an accident or your motorcycle is stolen, it costs money, often a lot of money, to fix or replace it.
•If you or a passenger is injured in an accident, medical costs can be extremely expensive.
•If your motorcycle is responsible for damage or injury to others, you may be sued for much more than you're worth.
•Your motorcycle may be one of your most prized possessions. It deserves special protection.
Things to consider and questions to ask your agent
Your Independent Agent is an advocate for finding insurance that meets your specific needs. Here are a few things to consider as you prepare for the discussion:
•How much can I afford to pay if my motorcycle is in an accident, damaged or stolen? (Ask your agent what your cost savings would be if you raised your deductible.)
•What discounts and programs are available? (Ask about discounts for taking safety classes or having multiple policies. You may also save money if your motorcycle is stored in a garage or if you belong to a motorcycle association.)
•How much medical and liability coverage should I have?
•Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
•What's the process for filing and settling a claim?
Tips for the cost-conscious rider
Many factors can play a role in determining what your insurance costs will be such as your age, your driving record, where you live and the type of motorcycle you own, or being a graduate of a rider-training course.
•Many companies offer discounts from 10 to 15 percent on motorcycle insurance for graduates of training courses, such as the Motorcycle Safety Foundation (MSF) rider course. Riders under the age of 25, usually considered a higher risk, may see some savings by taking this course. It's also a good idea for cyclists who have already had accidents.
•Maintaining a good driving record with no violations will also help reduce your premiums.
•In many northern states, riders may save money by buying a "lay-up" policy. With a lay-up policy, all coverage except comprehensive is suspended during winter months.
•Find out what discounts your insurance representative offers. Multibike discounts for those insuring more than one bike, organization discounts, if you're a member of a motorcycle association, and mature rider discounts for experienced riders, are just a few possibilities. Discounts can range anywhere from 10 percent to 20 percent, depending on the company and your state. Availability and qualifications for discounts vary from company to company and state to state.
•Keep in mind that the type, style (such as a sports bike vs. a cruiser) and age of the motorcycle, as well as the number of miles you drive a year and where you store your bike may also affect how much you pay for your premium.
Real Estate Agents
Real estate agents understand that homeowners must have property insurance in order to protect their greatest investment; but so, too, must realtors. Not only is an office (whether at home or at a commercial location) a large investment, but for most realtors it’s also their most profitable one. Protecting that endeavor with the right commercial property insurance policy is vital to staying in business over the years. If the real estate office is in a flood zone, then a realtor might consider also adding flood insurance to cover relevant claims since they are excluded from commercial property insurance.
Another way to protect your income as a realtor is to invest in business continuation insurance, which will replace lost income should your business be forced to shut down due to one of the hazards listed in the policy. Additionally, this policy can cover the expenses of a temporary relocation, which will allow you to keep your business running for little to no extra cost as your office is being repaired or rebuilt.
Auto insurance is extremely important for realtors because of the nature of their job. Securing insurance that guards against the cost of both bodily injury and personal property damage liabilities as well as protecting your vehicle is a great way to minimizing your overall business expenses.
While there are many different types of liability insurance that realtors should consider, one of the most important is errors and omissions insurance. E&O is a professional liability policy that will cover the cost of defending a lawsuit or paying a claim that results from an accidental error or omission made by the realtor. This can include discrepancies in posted home listings, problems with contracts, errors in submitted bids and accidental misrepresentation of property qualities.
With renters insurance, you will be able to replace what is damaged or stolen.
Renters insurance covers your possessions against losses from fire or smoke, lightning, vandalism, theft, explosion, windstorm, and water damage from plumbing.
However, renters insurance does not cover floods, earthquakes or routine wear and tear. You can, however, buy separate policies for flood and earthquake damage.
If you are forced out of your home because of a disaster your additional living expenses will be covered.
Renters insurance pays the reasonable additional costs of temporarily living away from your home if you can't live in it due to a fire, severe storm or other insured disaster. It covers hotel bills, temporary rentals, restaurant meals and other living expenses incurred while your home is being rebuilt. Coverage for additional living expenses differs from company to company.
Renters insurance also covers your responsibility to other people injured at your home or elsewhere by you, a family member or your pet and pays legal defense costs if you are taken to court.
Decide How Much Insurance You Need.
Add up the cost of everything you would want to replace if it were damaged or stolen. This could also serve as the basis for an inventory that will make filing a claim easier. For an inventory, also record model numbers, dates and places of purchase. Take photographs or make a video of these items and place a copy of the inventory in safe place away form your home.
If you rent an apartment or house you need insurance to protect your belongings. While your landlord might have insurance, it only protects the building. Your belongings are not covered under those policies.
Restaurant owners have much to consider when designing their insurance portfolios. Here are just a few of the insurance options restaurateurs can pick from to help minimize their financial risk from lawsuits, failed equipment and property losses.
•Property insurance: Offers financial protection in the event that the restaurant’s property (either its building structure or contents) is ruined or damaged in an insurable event such as a fire or theft.
•Spoilage coverage: Provides payment if power is lost or equipment malfunctions and the perishable food on hand spoils.
•Employment practices liability: Protects against lawsuits for various employee complaints including discrimination, provided the treatment was not willful.
•Equipment breakdown: Covers the cost of repair for equipment that has broken down including cookers, refrigerators and air conditioning units. It's worthwhile to note that if the breakdown occurs due to lack of proper maintenance, the claim may not be covered.
•Workers compensation insurance: This pays for medical expenses and some lost wages should an employee be injured on the job.
•Business continuation insurance: Provides ongoing income in the event that your business is forced to shut down. Alternatively, it could pay for some of the expenses of temporary relocation of your restaurant.
•Liquor legal liability insurance: This can help pay legal expenses and claims brought on by customers who may be injured by an individual who was drinking in your establishment.
Restaurants may also be able to secure all-in-one coverage, which is a comprehensive policy that is tailored to the many facets of risks that restaurant owners face.
Recreational Vehicle Insurance
Recreational vehicles do more than just carry you from one place to another; they transport you with an eye toward maximum fun and/or comfort along the way. Just because some of these vehicles are associated with playtime, that doesn't mean they don't need the same insurance protection as any other piece of expensive property you own. In fact, they may need more insurance since they also create a potential for liabilities.
Liability Insurance for Recreational Vehicles
Your recreational vehicle is, just like an automobile, a moving vehicle that can cause bodily injury and property damage to others. In order to help pay for any damage you inadvertently inflict, you should secure liability insurance. This policy can also help cover the cost of environmental cleanup after an accident that causes the spillage of a toxic chemical or other pollutant.
Liability coverage will have limits that work on both a per-incident and per-policy basis. They may also have a deductible that requires an out-of-pocket contribution for each incident or year.
After you've considered the potential liabilities you are exposed to while operating a recreational vehicle, it's time to secure coverage for the value of the vehicle itself. Recreational vehicle coverage can include financial compensation in the event of physical damage, vandalism, theft and collision. In addition, your policy may allow for reimbursement of personal effects stored on a vehicle such as an RV, boat or snowmobile.
In some cases, you may want to consider adding specialized coverage for additional risks including the loss or damage of awnings and custom equipment. If you have an RV that you live in part or full time, you may need extended protection so be sure to discuss that with your agent.
Specialized Vehicle Insurance
If you don't own an average car, why would you settle for average auto insurance policy? Specialty auto insurance is a great fit for individuals who own collectible and/or antique cars and vehicles.
Specialty vehicles are obviously different from standard issue autos, but there are some differences that can be especially troublesome when searching for insurance coverage. First, there is the challenge in assessing the cost of certain types of damage to a specialty vehicle. With specialty vehicle insurance, you may have access to an insurance adjuster who has the right knowledge and experience to properly assess your claim.
Another benefit to specialty auto insurance is that the value of the specialty vehicle is often much higher than traditional policies will cover. In order to ensure that you get the full value of the vehicle and that you have a policy that considers total replacement value for the specialized auto, specialty insurance is the way to go. Your policy will have what’s called an, “Agreed Value” that will spell out the amount you get in a total loss situation.
Antique and collectible cars are not generally driven daily and certainly not used to run everyday errands. This means that the mileage for specialty autos is often much lower than for a non-specialty car. Specialty auto insurance policies take this into consideration when establishing your rates. They also understand that standard safety measures may be missing and while a traditional auto insurance policy might penalize a driver for that, specially the auto insurance is tailored to that lack of safety devices.
Owners and operators of commercial trucks can't get by with a standard commercial auto insurance policy. In addition to protecting the cargo that they carry, truckers must consider the massive physical damage that can be caused by their trucks, the potential environmental issues an accident could cause, and the expensive cost to repair their large vehicles.
For bodily injury and property damage liability exposure, one should consider an auto liability insurance policy. This policy will protect truckers by covering many different types of harm that they can unintentionally inflict on others and their property. This includes accidental damage to a retailer’s delivery dock, to other drivers, vehicles, and pedestrians.
Your clients rely on you to safely deliver their cargo in the same condition it was in when they turned it over to you. With cargo insurance you can reimburse a client for qualifying damages made to their cargo during transport—and all without tapping into your business bank account except to pay the deductible.
When your truck is without cargo, it still needs protection. Bobtail insurance covers your truck even when it is not operational.
Physical Damage Insurance
If your truck is in an accident or collision, you need the right commercial insurance policy protecting your financial interests. Collision insurance and comprehensive insurance can cover various accidents and damages caused by theft, vandalism and fire.
Environmental Liability Insurance
If your truck carries cargo that can be environmentally toxic or could contribute to pollution, you need special insurance to help pay for the cost of the cleanup if it should be spilled in an accident. Environmental liability insurance will cover this expense, as long as it occurs in a qualifying situation.
Vision insurance refers to a contract between a consumer and an insurance organization which provides vision care in return for a premium. In exchange for their premium payments, consumers usually receive eye examinations (given by doctors and clinics contracted with the insurance organization) and corrective eyewear. Exactly how much of the fees are covered varies according to the specifics of the plan.
Even if you have perfect vision, proper preventative eye care is an essential practice towards ensuring the health of your vision in the years to come . The most important step is receiving routine examinations from a qualified eye care professional. Individuals between the ages of 20 to 40 are recommended an exam every 5 years or so, provided no visual changes or injury has occurred. Individuals over the age of 40 should have an exam every 2 years or so.
Plan features and benefits will vary depending on the provider, but features typically discounted include:
•Surgical procedures - including Lasik procedures where available.
Contact us today for more information!
Why do you need insurance for your boat or personal watercraft?
You'll enjoy the water ever more when you're not worried about the safety of yourself, your passengers or your investment. Here are a few things to consider:
•If you're in an accident or your watercraft is stolen, it costs money, often a lot of money, to fix or replace it.
•If you or any passengers are injured in an accident, medical costs can be extremely expensive.
•If your watercraft is responsible for damage or injury to others, you may be sued for much more than you're worth.
•Your watercraft also needs protection when it's on land. Accidents can happen while towing a watercraft.
Things to consider and questions to ask your agent
Here are a few things to consider as you prepare for the discussion:
•How much can you afford to pay if your boat or personal watercraft is in an accident, damaged or stolen?
•Is my boat or watercraft covered for use year-round?
•What discounts and programs are available?
•How much medical insurance and liability coverage is enough?
•Do I have coverage if I need to have my boat towed in an emergency?
•What's the process for filing and settling a claim?
•Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
Home and auto insurance policies may provide limited coverage for personal watercraft. Talk to your insurance representative about coverage limits. You may want to consider purchasing a personal watercraft policy to protect yourself and your water vehicle in the event of an accident.
The personal watercraft policy covers:
•guest passenger liability
Liability limits start at $15,000 and can be increased to $300,000.
Typical policies include deductibles of $250 for property damage, $500 for theft and $1,000 for medical payments.
Additional coverage can also be purchased for trailers and other accessories.
You should talk to your insurance representative about the type of coverage that would best suit your needs.
Workers Compensation Insurance
Workers compensation laws were created to ensure that employees who are injured on the job are provided with fixed monetary awards. This eliminates the need for litigation and creates an easier process for the employee. It also helps control the financial risks for employers since many states limit the amount an injured employee can recover from an employer.
Workers Compensation Insurance is designed to help companies pay these benefits. As a protection for employees, most states require that employers carry some form of Workers Compensation Insurance. Workers Compensation Insurance is not health insurance. Workers Compensation is designed specifically for injuries sustained on the job.
In most states, if you have employees, you are required to carry Workers Compensation coverage. Even in non-mandatory states, it can be a very good idea, particularly if you have many employees, or if they are engaged in hazardous activities.
Do I need workers compensation insurance?
Employers have a legal responsibility to their employees to make the workplace safe. However, accidents happen even when every reasonable safety measure has been taken.
To protect employers from lawsuits resulting from workplace accidents and to provide medical care and compensation for lost income to employees hurt in workplace accidents, in almost every state, businesses are required to buy workers compensation insurance. Workers compensation insurance covers workers injured on the job, whether they're hurt on the workplace premises or elsewhere, or in auto accidents while on business. It also covers work-related illnesses.
Workers compensation provides payments to injured workers, without regard to who was at fault in the accident, for time lost from work and for medical and rehabilitiation services. It also provides death benefits to surviving spouses and dependents.
Each state has different laws governing the amount and duration of lost income benefits, the provision of medical and rehabilitation services and how the system is administered. For example, in most states there are regulations that cover whether the worker or employer can choose the doctor who treats the injuries and how disputes about benefits are resolved.
Workers compensation insurance must be bought as a separate policy. Although in-home business and business owners policies (BOPs) are sold as package policies, they don't include coverage for workers' injuries.
What is Supplemental Medicare?
Supplemental Medicare, or Medigap, is a plan sold by private insurance companies to fill in the coverage gaps and deductibles that Original Medicare does not cover. For instance, if Medicare covers 80 percent of a doctor’s visit, Medigap will cover the remaining 20 percent. With Supplemental Medicare, there is little additional cost to you for health care beyond your premium.
Medigap policies are standardized and regulated by law. This means that each company must offer the same plans (Parts A-N) with the only difference being the price. However, prices can vary widely between companies. We can help you weed through the options to find the right provider with the right price for you.
What should you know about Supplemental Medicare?
Medigap policies are available to anyone enrolled in Part A and Part B (hospital and medical insurance) of Medicare. Open enrollment, a time frame in which you cannot be declined coverage, begins either when you first enroll in Part B or when you turn 65. This six-month window is the best time to purchase your Medigap policy.
Your Medigap premium will be an additional charge on top of your Medicare Part B premium (Part A is free), and in return you will receive more comprehensive coverage for your health care needs. If you have a Medicare Advantage Plan (Part C), be sure to cancel your coverage before your Medigap policy begins.
Why do you need Supplemental Medicare?
It is important to remember that Medicare does not completely cover your health care costs. A supplemental plan ensures a broader range of coverage so you do not have to pay out-of-pocket with each doctor visit. A low monthly premium will give you peace of mind as your need for health care grows.
Contact us today to learn more about the 10 Medigap plans and what they can offer you. We will gladly answer any questions and help you select the plan that best meets your needs.