As a builder or contractor, you are probably in business for yourself. As a result, protecting your investment is very important. SB One Insurance recommends carrying two types of insurance to provide the most financial coverage in the event of a situation involving loss. These policies are general construction liability and builders risk insurance.
One Size Can’t Fit All
Unlike the work gloves or tool belts where one size might fit all, the risks and exposures of each contractor, the location, the materials, the cost, and the weather will all vary by the job site. With a general liability policy, only a part of these risks will be covered. These usually include injury on the property, damaged rental space, employee-caused injury or damage, and legal action for false advertising or libel.
In addition to general liability, builders risk insurance can fill in some of the gaps in exposure and risk associated with your operations. Coverage extends to the damage done to the property or your equipment for the following reasons:
Fire or explosion
Any vehicles that crash into the structure
To be sure your contracting company is well-equipped to handle the risks and exposures consider the benefit of a packaged policy concerning risk and general liability. It is always better to have too much coverage than too little.
A financial guaranty represents a promise that is made by a company or agency that will cover a business’s financial obligations in the event they are unable to pay for them. A financial guaranty insurance policy is the legal document that outlines this financial commitment. Because these are often complicated agreements, it is very important to understand how these policies work before agreeing to any coverage.
These are three-party agreements. There is the party that needs insurance, or principal. There is the business that is requiring the insurance, which is the obligee. Then there is the guarantor, who is the underwriter, or agency that provides the financial backing.
This type of financial guaranty insurance policy will generally cover both the principal payment and any affiliated interest, but you should always ensure you completely understand any policy’s coverage. Many policies do not cover the full liability amount, just a portion. Always make sure you’re meeting any contractual requirements before securing a policy.
It is very common for a parent agency to offer financial guarantees for its subsidiaries, as it would allow a business to essentially invest in itself.
It is strongly recommended that you talk to a professional when making any large legal decisions involving your business, especially when it comes to insurance.
Top Telecommunication Installation Business Risks
When it comes to telecommunication installation companies, it’s important to have adequate risk protection. This is where telecommunication installation companies insurance comes in handy. Here are some of the risks involved with telecommunication installation.
If your client sustains any damage to his or her office, you are liable. In some cases, a telecommunication contractor will not use firestop to plug holes and hence give the client’s office a lower fire-resistance rating. If anything the contractor does affects the value or safety of the office, insurance helps cover liability.
Fires happen. If an accident occurs where an office fire happens, your furniture and equipment may suffer damage. With the right insurance policy, you’ll have the coverage to make repairs and replace equipment.
If an installation tech helps a client set up data backup, lawsuits are possible. For instance, if a cloud provider ends up hacked, your client’s data might end up exposed and the client may sue. You might not have caused the breach, but you’re still liable for the vendors, software and services that you recommend.
There are plenty of risks involved in the telecommunication industry. Without telecommunication installation companies insurance, you are liable for anything that goes wrong. Every business needs a share of protection, including telecommunication companies.
The Truth About Home Insurance
Home insurance is one of the most important investments when you’re a homeowner. This is your safety net. Without the right amount of Connecticut home insurance, you could lose a lot of money on your house. Knowing the myths can help you to learn what policies and how much insurance you need.
Home Insurance Is a Waste of Money
Home insurance is your safety net! You need to think about how much it could cost you if you have to rebuild your home. Accidents and natural disasters happen. You might not want to think about it, but having a lack of insurance is devastating.
Your Belongings Are Covered
Home insurance can protect your belongings. You do have to keep in mind, however, that some valuables might only have a small amount of insurance.
You Should Insure at Market Value
You do not insure for your home’s market value. Instead, you take every cost associated with the repair or rebuild of your home and you insure for those costs. Home insurance is crucial when you’re a homeowner. To find the right policies and to make sure that you aren’t underinsured it’s important to know the different myths about home insurance. You deserve to invest in Connecticut home insurance that you can trust.
As human beings, we make mistakes. Unfortunately, when those mistakes cause a financial loss to someone else, that person may sue you. As a professional, your advice and decisions influence the person hiring your services. Obtaining errors omissions in New York can help mitigate the financial loss associated with a lawsuit.
All professionals should determine if an E&O policy works best for them. However, these key professions greatly benefit from having errors and omissions insurance: accountants, home health aides, architects, psychologists, therapists, insurance agents, occupational therapists, lawyers, consultants and social workers.
Having an E&O policy or malpractice insurance is often looked on favorably by customers. Many customers want to work with professionals who have insurance. Carrying a policy shows them you understand mistakes happen and care enough to protect your company.
Though customers may only work with professional who hold an E&O policy, some businesses only work with insured professionals as well. Growing and expanding your business requires working with other business professionals. Keep those relationships strong with the right insurance protection.
Don’t wait until you make a mistake to obtain errors omissions in New York. Talk with your insurance agent to determine all your risks and ensure you are adequately covered. One lawsuit can cause untold financial damage to your business. Protect your assets with E&O insurance.
How Smart Trucking Companies Find Insurance Quotes
Whether you are at the beginning of your truck insurance policy search or looking for a new insurance provider, it can be helpful to keep pertinent company information at the forefront of your mind. Policies can vary greatly in terms of coverage and price, so consider the status and requirements of your transportation company before you contact any brokers. Gather the following information to ensure an optimal new relationship with an insurance company.
The Type of Company You Operate
Though you may know the information like the back of your hand, assembling a collection of documents with your company details is a good idea. If you can, include the following:
• All business documents that show your company name and any changes to it
• The number of staff you employ and their job titles
• The number of vehicles in your fleet
• Your location and the geographical areas you operate in
• Financial figures showing annual revenue and projected growth
The Best Insurance Company for You
Once you have an organized picture of your transportation company, begin to research companies for truck insurance options. In doing so, you can make a thorough list of questions and comments you have on available policies. A high-quality insurance company will not only provide comprehensive truck insurance coverage, but also engage in an open dialogue about your needs and how your relationship can successfully grow in the future.
3 Things You Need to Know Before Purchasing Contractor Insurance
Business insurance can be a daunting market to navigate. Given all of the coverage options available, you might feel overwhelmed. In order to feel a little more at ease, here are three things that you should know while you look for NJ contractors insurance.
1. A Trusted Provider Is Better Than a Good Deal
You have to be able to trust your provider. If you can’t trust your agent to be honest with you or to deliver the best solutions to your contracting business, then it isn’t worth whatever deal that they offer you.
2. A Specialized Provider Has More Experience
It’s smart to work with a provider that has experience working with construction and contracting businesses. An expert will understand the risks in your industry. Likewise, they will understand the rates and know how to give you a competitive rate.
3. The Fine Print Matters
No matter what type of legal contract you sign, the fine print is always important. Make sure that you read every detail over carefully. You don’t want the surprise of the fine print somewhere down the line.
When it comes to NJ contractors insurance, it doesn’t have to be difficult to get the coverage that you deserve. All it takes I a little extra work to make sure that you’re getting the best deal.
Living in a homeowners’ association (HOA) has its pros and cons, but a common goal can always strengthen a society, however small. Wrap up the next HOA meeting on a positive note by suggesting creative ways to improve your community. Extraordinary things can happen when communities band together.
Add Local Art
The ways to add art to your area are endless, but one classic and eye-catching way is to paint a mural. Do research on local laws ahead of time and check into US Risks Insurance to make sure your HOA is covered for this kind of thing. (US Risks Insurance also covers other kinds of events, so they’re a handy resource!) Have the HOA vote on a design and a place; once the city approves a proposed spot, make some magic happen! This can be done in many ways, but a couple of suggestions:
Commission a local artist to paint something unique to your city. Pay homage to its history, roots and local legends.
Let the children of the community have a hand in painting a mural. Really! Let a nearby elementary school add students’ handprints in different colors to the proposed spot. As the years pass and the city changes, those hands will always stay.
Take pride in the place you live in, and let local creativity shine. Let your HOA be part of making history in the colorful light of a new city mural.
Searching for insurance coverage can be a challenge for new business owners. Without the proper guidance, you can end up with too much or too little coverage. Working with an experienced Santa Fe insurance agent can ensure that your policy reflects your needs. In the meantime, here are three coverages that you should expect to include in your policy.
Property insurance covers your property in case they become damaged or lost due to a fire, storm, theft or vandalism. Your policy will pay to repair or replace your covered items which can include your building, landscaping, equipment, furniture and electronic property.
General Liability Insurance
General liability is a broad coverage to protect you against claims of injury or property damage made by third parties. Your policy will cover any attorneys’ fees as well as other expenses for which you’re liable.
Professional Liability Insurance
Professional liability provides coverage in cases where a third party claims that an error or negligence on your part led to them experiencing a loss. Businesses who require professional liability insurance range from professional service providers to manufacturers.
Having the right amount of insurance coverage can play a major role in your growth as a new business. Work with an experienced Santa Fe insurance agent to craft a policy that’s appropriate for you.
With Owens Group Insurance, you can hold them to the highest standard of operations and service knowing they are working for you. However, if you need assurance that insurance provider is truly working to protect your assets, there are several things you can do to perform your own quality check.
Check their availability. A customer-centric approach will keep your needs at the front of their daily activities, and this includes how quickly you can schedule a meeting. You should never feel that your account is less important than another, no matter how large or small the policy you carry.
Check their lines of products and services. If you have had your policy for some time, check on new carriers, products or services your agency offers. Keeping things current by following insurance trends is the mark of a company ready to meet the diverse needs of their client.
Check the staff. If you are continually seeing new faces in the local office or find your calls being returned by a different person each time, there might be something going on in the office. Employee loyalty is just as important as customer loyalty.
The decades-long service record of the family-owned Owens Group Insurance is a quality check that speaks volumes. You can address more specific concerns through this short checklist.