Month: August 2018

Insurance Coverage for Financial Service Providers

Insurance for financial services

When you offer financial services, you protect your clients when you protect your business from losses. Otherwise, you risk being unable to deliver on your promises. Insurance for financial services cover a variety of items from those common to all businesses to those specific to the financial sector.

Common Protections

Worker’s compensation and commercial auto coverage are two types of insurance that every business can benefit from having, including financial services. If any of your employees are injured on the job or there is an accident involving a company car, the right insurance protects your business from undue losses.

Financial Protections

Insuring an ATM on your property or elsewhere means you will not lose money if that ATM is robbed or damaged. If part of your services include sending money and assets via post, then mailing insurance is also useful. In general, any time something can go wrong with a transaction, you should look for insurance that can cover the possibility.

Insurance for financial services takes on many forms. Whether you need general business insurance or coverage tailored to your services, doing some research can help you save money. Protecting your transactions, equipment and employees means you can continue to provide great service to your customers, even if an issue arises.


Specialized Contractors Insurance

top contractors insurance

When looking for the top contractors insurance in your area, it is important to have an agent on your side who specializes in contractors insurance. The professional exposure risk can vary depending on the type of services that are provided by contractors so having an agent that is experienced with construction services and contracts will make sure you are entirely covered.

Contractor coverage stretched over a wide field of liabilities. A specialist can help determine what exactly applies to your business. Top contractors insurance should offer several protection options including the following:

  • Workers’ compensation- Covering medical expenses for employees and lost wages while they are not at work
  • Contractual Liability- Protects business owners from costs deriving against property damage, bodily injury, or other third-party liabilities
  • Auto quotes- Covers property damage as well as coverage for vehicles, drivers, and passengers
  • Construction bonds- Also known as a license and permit bond, construction bonds are a special type of surety bond to help bid on and land specific projects you are going for

Agents providing top contractors insurance will ensure that you have the appropriate amount of coverage by reviewing your operations, contracts, and policies. Using an agent will make certain that you do not leave yourself and your business open to liability.

Insurance for the Trucking Industry

interstate trucking cargo insurance programs

Trucking companies are the infrastructure of the economy, hauling billions of dollars in consumer goods across the nation every year. Although an additional expense, interstate trucking cargo insurance programs can be a game-changer in the event of cargo loss or damage.

Why Its Necessary

Many trucking companies have fallen victim to cargo theft and fictitious pick-up schemes, resulting in devastating financial loss to the company and their contracts. Trucking firms who experience loss of cargo in pick-up schemes have found it virtually impossible to recover the stolen goods, as missing trailers are long gone by the time the error is uncovered. Parking lots, breakdowns and tired or dishonest drivers are also known as easy targets for cargo theft.

What It Does

Interstate trucking cargo insurance programs offer liability coverage for cargo items in the event of theft, even when crossing state lines. Federally required trucking liability coverage is often limited to bodily or property harm occurring during a collision, but cargo insurance protects the actual contents of the trailer regardless of travel origins or destination. It is also highly probably most shippers will require a certain amount of cargo coverage before committing to a transport contract.

For a trucking company, investing in interstate cargo insurance can potentially save thousands of dollars in the event of theft during transport. Know the type of coverage you need to fully protect your cargo.

Making Smart Decisions on Purchasing Boating Insurance

California yacht insurance

Since a homeowner’s policy is usually limited to boats under a certain size or value, and most of these policies typically don’t have the necessary provisions to cover the types of losses that may occur with a yacht or larger vessel, California yacht insurance is your best bet. Even if not required, boat insurance is designed to address the specific needs of boat owners like you.

There are policies available in the marketplace that will allow you the option of insuring your vessel for its current market value in the event of a total loss. This policy is known as Actual Cash Value (ACV), or you may opt for an agreed value policy, also known as “stated value”. Most policies are “All Risk” policies that provide coverage for a broad array of concerns that you may face, including theft, vandalism, lightning strikes, fire, grounding of your vessel or sinking, as well as any lost or stolen belongings stored on the yacht.

Protecting your valuable property

A major concern for many owners is their personal property. Purchase coverage that will protect these personal items, such as equipment used for water sports, fishing gear, and electrical equipment (stereos, communication devices, etc.). Your policy should include provisions for towing your yacht in the unfortunate event it sustains serious damage and is no longer seaworthy.

Many companies will give you the option on a policy that does not insure physical damage to your boat, and only provides a specified amount of coverage for your liability to others in the event of an accident, or protection from uninsured boaters. Read your policy carefully and purchase additional insurance to address any risks not covered.

Owners of older vessels may opt to have little or no coverage in place. But keep in mind that a collision with even a small powerboat can cause serious injuries. While you may not be found liable for those injuries, you may still end up spending a significant amount of money in legal fees if ordered to defend yourself in a court of law.

Policies intended to cover liability only are not all that expensive. It makes sense to get a quote on several different California yacht insurance policies that will allow you to make an informed decision based on the coverages available versus the cost to insure.

What is Production Insurance in the Entertainment Industry?

Entertainment production insurance

Taking on a project in the entertainment industry is an exciting experience. In order to optimize ones work, it is vital to obtain a comprehensive insurance policy in order to protect everyones hard work in addition to well-being.

What is Entertainment Production Insurance?

Entertainment production insurance is designed to protect a production company, during a given project, from any work-related liability. Because all entertainment projects are as unique as their creators, it is important to obtain a policy that is specifically designed for ones production company’s specific needs during the project. For example, ongoing productions may benefit from annual policies, while a one-time project is better suited by a short-term policy.

What is Covered Under an Entertainment Production Insurance Policy?

One of the most common sources of legal battles in the entertainment industry is on-set injuries and accidents. A general policy will protect a production company in the event that a personal injury claim is made against it, as well as any theft, loss or damage of property, both owned and rented. Additionally, comprehensive policies can also cover non-physical claims, such as libel or copyright issues.

The producer of an entertainment project is almost always held completely responsible in the event something unfortunate occurs, even if he or she is technically not at fault. Producers can protect themselves financially and legally with a good, comprehensive entertainment production insurance policy.

Why Condo Insurance is Vital for Owners

condo association insurance

While most condominium complexes include insurance with condo fees, as an owner you really should get additional insurance coverage for your personal belongs. The insurance provided by the owners association isn’t going to be of any help with furniture, jewelry, and other valuables you also need to protect. The cost for your own condo association insurance will depend on the value of the items you wish to insure.

Owning a condo involves two policies: your personal condo insurance policy and a “master policy” provided by the condo/co-op board that covers the common areas shared with other condo owners in your building. Common areas, like the pool, hallways, building exteriors, roof, and walkways are covered for issues of liability and physical damage. The condo association collects monthly dues that help to pay for this coverage.

In addition to your personal insurance policy providing coverage for your personal possessions, it also provides you with liability protection so that you will be covered for additional living expenses in the event that you’re a victim of fire, theft or other disasters listed in your policy. It also covers any structural improvements to your condo.

You need to know what the master policy covers

Your master policy should outline exactly what areas of the complex are, and are not, insured by association dues. In order to be certain you’re not under or over insured, you need to determine what is covered by this policy. This will allow you to decide what additional items need to be covered under your policy.

Oftentimes, the association will be responsible for insuring the individual condo or co-op units as they were originally built. If you have made any alterations, you will then be responsible for insuring those areas.

For example, say that a previous owner remodeled the bathroom or kitchen and you agreed to purchase the unit as is. That would have to be covered by your individual policy, not by your associations policy. In many cases, the association is only responsible for insuring the bare walls, floor and ceiling, so its up to you to insure items like kitchen cabinets, bathroom fixtures, plumbing, wiring, and the like.

When purchasing condo association insurance, speak to an agent that can get you the coverage you’re really going to need.