Month: April 2020

Three Types of Dump Trucks Needing Insurance Coverage

Truck Insurance

Every dump truck has multiple moving parts and if any of those parts fails, the truck will not work properly. Dump truck insurance can cover broken parts from accidents or wear and tear. Western Truck Insurance Services offers a variety of coverage types and works with standard and unique dump truck configurations. Here are three dump trucks we work with and insure.

Standard Trucks

The most common type of dump truck has a hydraulic lift to pitch the bed over the back wheels. This hydraulic system can take a lot of stress, especially with very heavy or uneven loads.

Side Dump Trucks

A similar type of dump truck unloads on the side. While this means the bed does not move as far, it can cause strain on one side of the truck. Over time, axle issues can develop, which are covered with our dump truck insurance.

Roll-Off Trucks

Instead of the usual “lift and tip”, a roll-off dump truck has slots for the bed to slide off the truck completely. These slots can get warped or blocked over time, needing to be cleaned, repaired or replaced.

Get Your Truck Covered

Your dump truck is an important part of your livelihood. With dump truck insurance, you can cover accidents and maintenance. Contact our office to find out more.

The Basics of Insurance Compliance With Defense Contracts

defence contract

†If your company does business with government agencies like the Department of State, Defense, or Army Corp of Engineers, you are required by law to carry DBA insurance for any employees that are working oversees. This policy of a form of workers compensation insurance, protecting employees from the costs associated with injuries that occur overseas.

Coverage Extensions

When reviewing the information at www.moodyinsurance.com, you will find that coverage is extended beyond accidents in the workplaces to situations that could include the following:

  • Medical evacuation
  • Emergency surgeries
  • Basic or urgent medical care

Policy Expenses

It can be expensive to carry a DBA policy, as the costs of healthcare in countries with civil unrest or undeveloped infrastructure have risen greatly. However, it also tough to determine how much your policy cost without an assessment of certain factors. The policy takes into account the geographical work region, the number of employees working overseas, the yearly payroll costs for overseas employees, the level of qualifications of your overseas employees, and if an employee will be working on or off the base. There are other factors considered as well.

Since DBA insurance can be complex, it is best to meet with a licensed agent to find out what coverage you need. Don’t avoid securing the right insurance, as DBA is required by U.S. law and you could lose a contract without it.

Why Banks Need Blanket Bonds

Blanket Bonds

What is a blanket bond? For those unfamiliar with bank insurance, the term might sound confusing; but it makes sense when you know what the individual words mean. A bond is a type of insurance purchased by a bank. The word blanket refers to something that covers, or blankets, all employees. So, simply stated, a blanket bond is an insurance policy covering a financial institution in case an employee commits a criminal act that causes the company to lose money or property.

Who Is Bonded

A bonded employee is one for whom the bank has an insurance policy in case he or she commits a dishonest or immoral act. For example, if an employee steals money, the insurance company would reimburse the bank for the amount stolen. Coverage is automatic upon being hired, so with a blanket bond, the bank is not required to present evidence as to which employee was dishonest.

Which Criminal Acts Are Covered

The insurance firm at www.fgib.com lists the following risks as being covered:

  • Documents forged
  • Counterfeit money accepted in good faith 
  • Money or property lost or stolen during delivery
  • Money stolen by employees
  • Property vandalized
  • Bad checks written or accepted

Blanket bonds are often required by law and are one of the many types of insurance usually required for banks.

How Insurance Agents Can Make the Most of Social Media

Agency Tsunami

If there’s one universal rule of marketing, it’s that every business can benefit from having a strong presence on social media. Even so, every industry uses social media in different ways to reach their audiences. The experts at Agency Tsunami understand the importance of social strategy for insurance agents and how they can make the most of their platforms. Take these tips, for example.

Use Humor When You Can

Chances are you’ve seen realtors, attorneys, and yes, even insurance agents go viral from time to time. Each of these professions is often considered “dull” to the everyday world, so what made these people go viral? Humor did! When you can find a way to incorporate pop culture, such as memes, TV shows, or celebrities, into your social media posts, you show the human behind the business. Keeping yourself humorous and relevant helps people remember your name when they need their own insurance agent.

Avoid Being Too Opinionated

With everything that has gone on in the world, is going on now, and will go on in the future, it’s hard not to form a strong opinion. They’re best kept for your personal social media pages, though. Everybody has strong opinions, and when you fall on one side or the other, you automatically alienate people whose opinions land on the other side of the fence. When relating your insurance services to current events, aim to be objective and keep strong opinions out of your posts.

Social media is poised to become even more important for advertising and even conducting business in the wake of current events. If you haven’t already, now is the time to get on social media and make your presence as an insurance agent known.