Category: Insurance

Why Your Construction Project Needs a Course of Construction (COC) Policy

site-service-employees

A COC policy is a vital form of insurance that will protect you in the event of loss or damage while a project is being completed. During the most critical times in a construction project’s development, you need to be safeguarded against the unexpected.

You’re Vulnerable to Damage, Loss, and Theft While Projects Are Still Underway

Active job sites are in a constant state of change. Their physical conditions can change dramatically from one day to the next, and they often have rotating personnel. During periods of transition, its important to be vigilant about risk management and maintaining insurance coverage levels that address all associated risks.

You Take On the Risk for Other Companies Work

Before some project phases can pass building inspections, certain equipment and machinery will need to be tested to ensure that they’re working properly. Contractors face significant risk and liability exposure when they’re testing new equipment that they weren’t responsible for manufacturing or installing. Source: https://www.sboneinsurance.com.

You Can Face Serious Financial Penalties for Delays

Almost every type of accident that sets back a project’s timeline can have a heavy economic impact on a GC. Most construction contracts including all standard AIA agreements provide for liquidated damages in the event that a project runs past the specified completion date. COC policies can include provisions that cover these types of damages.

Figuring Out Boat Insurance Costs

moored boat insurance

Figuring out how much a recreational asset purchase will cost you on an ongoing basis can be tough, but for people who invest in boats, it’s almost impossible. There’s a huge range for policy costs and a lot of factors that go into them. So what are you paying for? The first thing to understand is that part of the wide range of costs is the wide range of uses, sizes, and values for personal watercraft. It’s pretty obvious that a small vessel that’s stored out of the water and only used on inland lakes will be less valuable and doing less risky travel on the water than a yacht on the ocean that needs moored boat insurance when not in use, for example. That means your boat insurance isn’t just one insurance type, it’s a combination of coverage options that fit your lifestyle and storage practices.

Other Factors in Your Quote Costs

In addition to the range of coverage options and the policy limits, there are some extra factors that can raise or lower the cost of your insurance policy. A big one is the status of your driver’s license. Infractions on your driving record can increase your insurance costs on the water as substantially as they increase auto policy costs. Your level of experience and training, safety equipment, and whether you will allow other operators to handle the controls also play a role. For information about bringing your costs down, talk to a professional about whether new safety equipment and more training will save you money.

Start an Electrical Contractor Company Using These Steps

electrical contractors insurance

Electricians continue to be a necessary aspect of the modern world. Now is a great time to set up a shop and start helping customers. There are a few things you need to get started such as a business plan, insurance, and clients.

Plan

The value of a business plan cannot be overstated. This plan essentially outlines how you plan to run the business, plan for the future, and even help secure funding. Take time to think about your pricing structure, suppliers, and marketing plan. Include these items in your business plan then adjust as needed.

Insurance

The insurance firm Daniels states that electrical contractors insurance is a complex topic. The size of the business helps determine which insurance products are the best to obtain. Insurance protects your new business in case it is sued by an unhappy client.

Clients

Once you get up and running, you need to secure clients. Your marketing plan can help you target those new clients whether through a website, online ads or social media. Start by working with family and friends and ask them for referrals.

Keep in mind that most municipalities do require electricians to have certain licenses and experience before operating on their own. Electrical contractors insurance simply steps in when a mistake is made or someone is hurt. It allows your business to keep moving forward.

How to Effectively Utilize Call-to-Action in SEO

action-in-seo

Your SEO is the tool that helps your audience find your page. But, once they’re there, what makes them want to stick around? You could have all the engaging content they need, but the visitor still doesn’t make the conversion to the client. The reason for this is you aren’t using an effective call-to-action.

The best call-to-actions(CTAs) convince the visitor that he or she will benefit from doing what you’re asking. Here are some effective CTA strategies.

  1. Keep it Simple

Make your CTA easy to understand in as few words as possible. If you want the visitor to subscribe to your newsletter, provide an attractive button that lets the user know exactly what they’re doing.

  1. Why Should They?

Of course, your visitor isn’t going to give out their email just for the sake of giving it out. Tell your visitor how joining your newsletter is going to make their life better. Do you digest daily industry news? Or perhaps you have free giveaways every Tuesday. State this.

  1. Know Your Audience

The tone is everything. If your audience is more mature, they might appreciate a more conservative approach. If they are college students, they’re going to be attracted to what’s trending. Use what you know about your audience to create content that appeals to them.

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.

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.

Liability Insurance for Bankers

FGIB

There are many fields that require professional liability insurance if you are going to operate while managing the day-to-day risks that come with that line of work, but no two professionals have exactly the same liability insurance needs, even within the same profession. Between professions, entire areas of coverage differ, and not just the details. That’s why when you’re looking for bankers professional liability insurance, you need to work with professionals who have experience with exactly that kind of product.

Insurance Built for Bankers

When you handle other people’s money for a living, it’s very common for your professional activities to draw lawsuits, even baseless ones. FGIB discusses this and the way that liability insurance for the banking industry takes care of clients:

  • Coverage for defense and damages up to the policy limit
  • Protection for your institution’s assets
  • Specialized coverage built around your institution’s professional activities

If your current liability insurance doesn’t flex to meet the needs of your operation, how can you count on it to continue meeting your needs as your business grows and changes? The right answer to that question might be uncomfortable, but taking care of the situation and getting yourself into insurance that really fits your operation doesn’t have to be. All it takes is a team of dedicated professionals who understand your line of work.

Do You Insure Your Employees’ Benefits?

wwspi

Providing your employees with competitive benefits that fit their needs can be a complicated task, especially if you manage those benefits in-house. At the same time, you can more easily respond to employee concerns and the shifting needs of your workforce if you keep things personal. Over time, the investment in that HR infrastructure can also save you money, but it’s a complex undertaking when you first roll it out, and many companies who are providing full-time benefits for the first time miss out on important details like employee benefits coverage.

Liability for Benefits Management

When you have a fiduciary responsibility due to a benefit program like retirement savings and investment funds, you incur liabilities that are more commonly associated with investment banks and brokerages, as well as the liabilities that come when you offer health coverage and other basic plans common to today’s salary packages. As https://www.wwspi.com/ points out, you need insurance that takes care of things when a company representative makes a mistake or takes advantage of the situation for personal gain. It protects you, your workers, and the future of your benefits plan packages by limiting the financial exposure you face when there is a problem with the way employee benefits are handled. That includes issues like improper plan cancellation by bad actors within the company.

Where To Volunteer

Liabilities of Volunteer Drivers

Deciding to volunteer doesn’t always mean trekking through the jungles of Vietnam. There are so many ways that you can volunteer your time here at home to get you ready for that jungle trip when the time comes. What are some common places to look for opportunities?

Nursing Homes

It’s a lonely thought to imagine living away from your family and being cared for by strangers. If you have a soft spot for the elderly, think about doing some volunteer caregiving. Usually, administrators are delighted for the extra hands and the residents love making new friends.

Libraries

Some people prefer the written word to face-to-face interaction. If you’re one of those people, why not check your local library and see if they need any help? Common activities might include reshelving books or reading to a group of children during storytime.

Animal Shelters

A heart for animals is a beautiful thing. Call the animal shelter closest to you and ask if they’re in need of volunteers you will likely be doing things like cleaning kennels and walking dogs, but when you love animals then that’s fine by you!

Check out the VIS website to learn more about volunteering. You might be surprised at how many people need extra help if you simply start asking.

How to Find the Right Services for Your Business

FGIB

When it comes to dealing with financial institutions, there are different types of services that are necessary depending on what your company offers. This could range from needing protection through a guaranty bond. Here are a few things to keep in mind when looking for coverage that is right for your company.

Protecting Against Liability Issues

In a financial or other business setting, it is easy for liability issues to occur. Selecting insurance that covers professional liability, cyber liability, and even crime insurance can protect your company should a mistake, accident, or other problems occur. In the event that your business gets sued, this can offer a layer of protection that can help in different cases, according to FGIB.

Offering Help for Different Business Needs

No matter how you serve customers or operate, it’s important to have the necessary tools in order to assist those you help in case something goes wrong. With crime insurance and other types of insurance products, you can provide the protection necessary to keep customers feeling safe.

No matter if you need a guaranty bond or other types of financial protection for your bank or business, there are many different products on the market that can be tailored to your needs. Having just what you need to serve customers can give both parties peace of mind.