Month: May 2018

Things Covered by Marina Insurance

insurance for marinas

There are a number of programs that can provide insurance for marinas including liability or general property coverage. Each of these programs can offer coverage for a specific area of the business. Knowing what may be available in your area can help you make sure your business has the coverage it may need. Here are some options that may be available in your area.

There are a number of factors that come into play when running a marina. These can include classes or training that occur on the property or with marina equipment, member property stored at the facility, programs such as chartering services offered by the marina, and maintenance needs for property of equipment. Each of these things can be included in an insurance policy. Policies may cover one or multiple aspects depending on the plan type and the needs of the business. In some cases multiple policies can be bundled together under a single plan. If you have questions or would like to learn more about what might be available for your marina, an insurance professional can help.

Now that you know a little more about what insurance for marinas may cover you can begin deciding which programs are best for your companys needs. Consider what your marina offers and which programs offer that type of coverage. If you have further questions an insurance professional can help.

Choosing Between Local Insurance Companies

insurance in Wilmington, DE

When you are looking for insurance in Wilmington, DE, it is a good idea to check out local agencies and companies. This can help ensure that you are getting the right coverage for any local laws as well as give you a chance to talk to your agent face-to-face to go over your risks and options. To find the right agency for your needs, you will first want to determine what those needs are and then you can find the most reputable company to meet those needs.

Your Needs

The first step in finding the right insurance is determining whether you need to cover your business or personal interests. Some agencies can help you with both, but not all of them are set up to do that. You should also look at needs such as health, life or property insurance to help you get the best coverage package available.

Your Options

Once you know what your needs are, you can make a list of the companies in your area which offer plans to cover those needs. If this list is longer than you expected, you can narrow it down by looking at their reputations, reading online reviews or getting recommendations from your industry or personal contacts.

Insurance in Wilmington, DE, can be easier to get than you think. Once you know your needs, you can narrow down your options for agencies. Then you can sit down with an agent and go over your risks and available plans.

Specialized Malpractice Insurance for Professionals

professional liability tail coverage

Most experts agree that the right coverage for you actually depends on your circumstances, both now and into the future. Most professionals, including doctors, lawyers, and architects, need professional liability coverage because of the type of work they perform, which often includes giving their professional opinions. Because claims might be made during a period of time after a policy has expired or been discontinued, professional liability tail coverage will also come in handy.

A tail policy is also known as extended reporting period coverage. The tail gets its name because it becomes active after your policy has terminated and youve purchased the tail endorsement once you terminate a claims-made policy. The “tail” endorsement allows you to report claims for covered incidents that occurred while you were insured.

Claims made versus occurrence

The claims-made policy offers you greater flexibility because your last year’s policy is the one covering your past or prior acts. This allows you to increase your limits or buy new coverage that wasnt available when you originally started your policy. Since the policy in force at the time of the claim will respond to the claim youll get the benefit of enhanced coverage. Claims-made coverage is portable, so you can take the coverage from one insurance company to the next.

On the other hand, the advantage of having an occurrence policy is in its permanence. The period of time youre insured under an occurrence policy is totally protected by the policy you had during that year, and you may not need to renew or buy the tail when you leave the company.

The term nose is another way of referring to your retroactive date or prior acts coverage. Since prior acts coverage provides cover for actions that occurred prior to your current policy, it is called a nose (as opposed to a “tail”). The bottom line is that you may need to be covered after the expiration date of your policy and can purchase a policy designed to provide you with this valuable protection. Speak to an agent about professional liability tail coverage so you can rest assured that you have the proper policy for your professional needs.


BOP Policy Offers Solid Protection to Small Businesses

orange insurance

As a convenience, many orange insurance companies offer business insurance policies that have combined protection from many of the major property and liability risks that business owners face. The business owners policy (BOP) is a package purchased by many small and mid-sized businesses and was created for companies that potentially face the same types of exposures and have a similar degree of risk.

Larger companies often consider a commercial package policy in order to customize their policies to meet the specialized risks that they often face. The insurance market has been designed so that they can calculate and provide your company with a selection of insurers that can offer the best available rates.

Which policies can you purchase under a BOP?

A BOP generally includes property insurance for buildings and contents owned by the company. There are two different forms to choose from; standard and special, which will provide more comprehensive coverage. A business interruption policy is generally included as it covers any loss of income that could result from a fire or other catastrophic event that disrupts the business for any length of time. It can include any extra expense associated with having to operate out of a temporary location.

Liability protection is another important feature to have and covers your company’s legal costs when a claim is made for any harm that was caused to others. This includes an injury or loss as a result of actions that a business owner, representative, or employee takes, or fails to take, in the course of your business operations that may cause bodily injury or property damage due to defective products, faulty installations, or errors in services provided.

There are several areas requiring insurance that are not covered by a BOP, including professional liability, auto insurance, workers compensation, or health and disability insurance. You’ll be required to purchase separate insurance policies to cover these particular exposures. Regardless of the type of company being operated, the business owners policy is an integral part of any successful business. Running an enterprise without adequate amounts of orange insurance is a risk not worth taking.

Factors that May Affect the Rates for Workers Compensation

workers compensation insurance rates Orlando

Many employers want to ensure that their employees have proper insurance coverage. Part of this includes having a workers compensation package as part of their insurance plan. When looking at workers compensation insurance rates in Orlando, you may be wondering what factors could affect your plan options.

Payroll Size

One factor you may not have been aware of is payroll size. Workers compensation rates are usually based per $100 in your payroll. This base rate may be affected by your companys claim experience and work classification. Your insurance provider may be able to give you the exact rates.

Claim History

Another factor in your workers compensation rate is your companys claim history. This rate is based on how your companies claim history compares to similar businesses with comparable employee work classifications. A lower claim history may result in a lower rate.

Type of Work

The work classification, or type of work your employees perform, may affect your rates as well. Riskier jobs may carry higher rates because those performing those jobs are more likely to get injured. For example, a secretary may have a lower classification rate than a security guard.

Like many other states, workers compensation insurance rates in Orlando, are calculated based on three things. You companys payroll size, the companys claim history, and the type of work performed by your employees. Talking with an insurance professional may be the best way to get a quote for the workers compensation policy for your business.

How a Client-Focused Insurance Agency can Benefit Your Small Business

Erie insurance agents, Columbus Ohio

Selecting an insurance company to work with in protecting your small business can seem like a daunting task. There is usually a lot of paperwork and numbers involved, and it can become confusing easily. When searching for an insurance provider, it may be helpful to make a list of qualities you’re looking for, like experience and a more personal focus. Finding an insurance company that’s dedicated to their clients can feel like finding another branch of your own business team. When you’re looking to expand or pursue other business goals, an insurance agent that’s familiar with your business and ambitions can better help you make those changes. If you’re looking for Erie insurance agents, Columbus Ohio has plenty of agencies for you to consider.

Agencies that truly care for their clients tend to know their backstories and all of the hard work that went into acquiring their company assets. They should be aware of how accidents and other unforeseen events can impact daily business operations as well as have a plan for getting everything back on track. A dedicated agent can put together a policy with the right amount of coverage for a price you’re comfortable paying. With the right industry contacts and knowledge of various providers, they can offer you an array of insurance products and suggest the best ones to you. In your search for Erie insurance agents, Columbus Ohio firms have plenty to offer.

Benefits of Liability Insurance for Home Health Care Providers

insurance program for home health care providers

Do you provide in-home care to patients wishing to stay at home? Providing this service means taking on some risk, but you can mitigate some of the financial penalties by acquiring an insurance program for home health care providers. Here is a look at some of the benefits.

Unlike other kinds of business insurance, coverages for home health care can be tailored to the kind of care you provide. For example, if you provide physical therapy which requires a lot of physical strength from yourself, you may need coverage for possible work injuries. Another coverage option to look at is automobile coverage if you manage a team of providers using company cars to do their jobs.

An insurance program for home health care providers can also help if there are false allegations put forth about the provider. You need all your resources available to provide quality nursing case, meaning if there is a problem, quick response by your insurance carrier is important. Some benefits to look for include easy payment options, tailored coverage options and fully integrated programs.

Insuring your home health care practice is an important part of making sure you stay in business. Plan carefully for possible issues you may run into and find coverage appropriate to those scenarios.

The Responsibilities and Risks of Homeowners Associations

HOA insurance company

A homeowners association (HOA) is often tasked with many responsibilities for the upkeep of a community or building. This usually includes many different areas of operation, like budgeting and maintaining the property. Since many of these special communities have unique aspects that draw in buyers, the risk factors for the HOA can vary drastically from one community to the next. An HOA insurance company can help determine the different risks and find a policy with the right amount of coverage to protect the association.

D&O (Directors and Officers) liability coverage can be useful in protecting the members of this association against various claims. Due to the varying nature of common claims, an insurance service can help decide the best terms for this part of the policy. Since HOAs usually are involved with maintenance and other types of property work, workers compensation coverage can be a huge help in case of injury. Not only should this protect the association, but the help given to injured workers or volunteers can get them back to their positions faster, thus keeping up with maintenance schedules. Other areas of coverage include crime and cyber liability, which can protect an HOA from various types of risks. Data, money and property can all be stolen, and the right coverage can offer protection against losses. Regardless of your risks, an experienced HOA insurance company should help you get the right coverage for your unique needs.