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The Elements of a Business Insurance Plan
The Elements of a Business Insurance Plan
One of the misperceptions about insurance is that it is a product designed for a singular purpose. Insurance policies, in reality, have multiple elements.
A well-crafted business insurance plan, for example, is actually a combination of coverages designed to protect your particular business. While there are cookie-cutter policies out there, you will likely be better served through a program created for you. What are the common components of a small business insurance program, and what protection does each provide?
Liability
The liability portion of a business insurance program can offer protection for a business owner should there be claims made against them in the event an injury occurs on their premises. This can include incidents like slips, trips, and falls. Liability insurance can cover the legal costs associated with injury claims, settlements, and judgments.
Property Damage
This portion of a business insurance program covers any structures owned by the business and their contents, within policy limits. This includes furnishings, equipment, computers, inventory, and more.
Professional Liability
Sometimes referred to as malpractice insurance or errors and omissions coverage, this coverage is designed for medical professionals, investment counselors, and other professionals whose mistakes can be costly.
Commercial Vehicle
Commercial vehicle coverage is critical for businesses that have fleets or even who own just a few vehicles. Vehicles used for business purposes are not generally covered.
Loss of Income
Loss of income coverage protects the income of a business should the business be shut down as the result of damage from a covered calamity. This can keep a business going while it makes repairs or recovers from the damage it suffered.
When you contact one of our independent business insurance agents, we start with a conversation about your business. We discuss your operation and your risks. We search our network of companies to craft a business insurance plan specifically for your business and your budget.
Operating with little or no business insurance can put your business in jeopardy every day. Contact us today for the coverage and peace of mind you deserve.
Relatively Rare Home Damage Incidents and Home Insurance
Relatively Rare Home Damage Incidents and Home Insurance
Most people secure home insurance to protect their houses from everyday hazards like fire, storm damage, theft, or even liability claims.
But there are more infrequent claims, and some are even so rare they may make the news. Would more unusual incidents be covered by homeowners’ insurance? Here is a quick look at some interesting claims and whether they would be covered under home insurance.
Damage Caused By an Aircraft
Even a small plane can cause big damage to a house or property. Larger planes have also been known to lose parts or cause damage from falling ice. As rare as this may be, most home insurance plans would cover the resulting damage.
Floods
While floods are more commonplace, they are typically not covered under a basic homeowners’ insurance policy. Flood insurance is administered by the government and must be secured separately.
Meteors
Not only may you be surprised to learn that your home is likely protected from damage due to meteors, but most standard policies also cover damage from asteroids, satellites, and other falling space debris.
Car Crashes
Every few months, we seem to hear a harrowing story of a car crashing into a house. In these circumstances, if the driver is at fault, the damage should be covered by their car insurance. If they are uninsured or underinsured, your homeowners’ insurance will likely cover the damage.
Sinkholes
Sinkholes occur when the ground underneath the surface hollows out and the surface collapses. They can swallow up a yard, a street, and houses. They occur mainly in the South. Sinkholes are frightening and can be devastating. Sinkholes and other disasters involving ground movement are generally not covered under a standard home insurance policy. These also include earthquakes and landslides. Additional protection may be available, however, in the form of an endorsement or policy rider.
Wildfires
While fires are generally covered under standard homeowners’ insurance policies, the coverage and limits can vary by geographic region.
In any of the above cases, it is best to discuss the coverage of your specific policy with your independent home insurance agent ahead of time.
If you would like to know what is and isn’t covered by your home insurance policy, contact us for a no-cost, no-obligation review. If you like, we can even provide a price quote to help ensure the best coverage at a competitive rate. Get started by contacting us today.
What’s the Difference?
What’s the Difference?
If you are asked, “What’s the difference?” The person may be apathetic, or they may be inquisitive.
On the inquisitive side, many of us go through life with some misperceptions about similar things. So, what’s the difference between…
A State and a Commonwealth?
Why do Virginia, Massachusetts, Kentucky, and Pennsylvania refer to themselves as commonwealths? Is there a difference between a commonwealth and a state? The reality is that the difference is in name only.
Butter, Oleo, and Margarine?
While oleo and margarine are the same, there is a big difference between them and butter. Margarine is made from vegetable oil and is low in cholesterol, or cholesterol-free, and low in fat. Butter is a dairy product and includes a multitude of vitamins. Butter, however, is high in cholesterol and saturated fat.
An Alligator and a Crocodile?
People often refer to these two interchangeably, but there are distinct differences. A crocodile has a sharper, V-shaped nose, while an alligator’s snout and mouth area are more rounded. Alligators tend to be a darker gray or even black, while crocodiles are more green and brown. Crocodiles have a more powerful bite, at about 3,700 psi, compared to an alligator bite of about 2,500 psi. Crocodiles generally live in South Florida and southward, whereas alligators can be found north of the Gulf Coast and in the Southeast U.S.
Knitting and Crocheting
Knitting involves the use of two knitting needles of the same size, while crocheting uses one “hook”. The one hook makes crocheting easier for most, but knitting provides a tighter weave than crocheting. It is why most sweaters are knitted.
A .Com, .Net, and .Org?
Initially, domain names for commercial enterprises were encouraged to use .com for their websites. As websites increased in popularity, .net domains became an increasingly popular choice. Non-profit organizations better identify themselves as a .org, but there are no laws regarding such use. The .edu extension is reserved for schools and educational institutions. Countries also have their own extensions such as .us for the United States, .uk for Great Britain, and .ca for Canada.
A Weather “Watch” and a Weather “Warning”.
Some are frequently confused when their weatherperson uses the terms “warning” and “watch” in the local forecast. A watch means that the conditions are conducive to developing a thunderstorm or tornado. A warning means that a severe thunderstorm or tornado exists and is a present danger. Generally speaking, a watch means be aware and keep an eye out. A warning means take cover.
You should be aware that insurance agents have differences too. For example, there are captive and independent agents. While captive agents only represent the insurance products of the company they represent, independent agents can compare from a network of companies. This could mean more choices and better prices for you. Contact one of our independent agents for your no-obligation life, auto, home, or business insurance quote today.
Business Insurance and Your Non-Profit
Business Insurance and Your Non-Profit
Non-profit and charitable organizations are frequently highly scrutinized. Salaries are closely monitored, expenses are closely tracked, and they are almost always looking for new ways to generate funding.
There can be distinctive differences between a for-profit and a non-profit organization. There are also some commonalities. One of these could be the need for business insurance.
A solid business insurance plan protects the interests of the business owner and other investors. For a non-profit, business insurance can help protect their mission and responsibly protect the interests of stakeholders and donors.
Here are some reasons business insurance can be critical for non-profit organizations.
Many Non-Profit Organizations Own Property
If your non-profit organization owns real estate, that property can be at risk of damage or loss and have the potential for liability claims. Whether it is a church, office, warehouse, or other structure, it could experience a fire, theft, vandalism, or other damage. In addition, if someone on the property should experience a slip and fall or other injury, the non-profit could be held liable. Business insurance can help.
A Non-Profit Can Have Employees and Volunteers
Like for-profit companies, non-profit organizations can be held liable for the actions of their employees. A non-profit can have the added risk of being held liable for the actions of volunteers. The appropriate insurance policy can help protect against claims.
They Likely Have a Board of Directors
If your non-profit organization functions under a board of directors, you will probably want to protect that board from legal actions associated with their service to the organization. This can be done through errors and omissions coverage, sometimes referred to as malpractice insurance. This can help protect individual board members in the event they are sued.
Churches and charitable organizations can have a lot of assets, including real estate, promotional materials, furniture, computers, and a wealth of other resources. A proper business insurance plan can help protect these assets as well as provide critical liability coverage. Our independent insurance agents have access to companies that are familiar and may even specialize in insuring non-profits. Reach out to us to request your free consultation and price quote today.
Do You Still Need Life Insurance After Age 65?
Do You Still Need Life Insurance After Age 65?
One of the nicest aspects of life insurance is that it can be purchased to suit your needs through life’s various stages. A small policy on a child could build equity to help with college expenses.
A large term insurance policy can provide coverage for a young family with growing responsibilities. Does life insurance become less critical as we age, however?
Do you still need life insurance after the age of 65, for example? The answer could be yes.
You may wish to have life insurance to cover final expenses, especially if financial assets are limited. Life insurance proceeds can provide ready access to cash in the event of your death and even help cover any estate taxes.
Some older Americans continue to carry life insurance as a way to benefit their families or leave a nest egg for grandchildren.
As we age, we begin to think about our legacies, and life insurance proceeds can be used to help benefit a non-profit organization or a charity.
Some people prefer to have life insurance for the convenience of those left behind and to make the period following a death just a bit less stressful.
Even if you presently don’t have life insurance, it still may be available to you after the age of 65. Your options may be more limited, and the premiums will likely be more expensive as you age, but acquiring life insurance may still be possible.
It’s been said repeatedly that life insurance is best purchased when young and healthy, when it is at its most affordable. However, it can still be made available to you as you age.
Contact one of our independent life insurance agents with your questions and for a no-obligation price quote. Our network of life insurance companies includes those who specialize in more affordable life insurance for older Americans. Simply by answering a few questions, you could be on your way to securing valuable life insurance coverage. Of course, the final decision remains yours.
Whether it is to cover final expenses, to leave a little something for the grandchildren, or to leave a bit of a legacy,
Six Easy Tips to Safer Driving
Six Easy Tips to Safer Driving
It has been said that one of the best ways to save money on car insurance is to become a safer driver. Being a safer driver, however, may not have an immediate impact on your rates. Some car insurance companies offer driving monitoring devices and apps that can provide some more immediate impact, but restoring a clean driving record can take time. Here are some easy-to-implement safe driving tips you can begin using today.
Drive Safely Intentionally
Many of us get behind the wheel with a million things on our mind. We may have a schedule to keep and errands to run. We should all take a few seconds to remind ourselves that our main goal is to get to our destination safely. This can be done by adjusting your seat belt, mirrors, and checking the fuel level before putting the car in “Drive”.
Drive Like the Car Behind You is Law Enforcement
Have you ever noticed how much more carefully you drive with a police car in your rearview mirror? Odds are, you won’t be on your phone, and you may have two hands on the wheel. You certainly won’t speed.
Become Familiar with the Vehicle
Driving a rental or borrowed car provides additional challenges to safe driving for several reasons. You may not be familiar with how the car “feels” at certain speeds. You may not be familiar with how to work the wipers, lights, or cruise control. The infotainment system may be confusing. When driving an unfamiliar vehicle, take the time to get used to its controls before pulling away.
Avoid Driving at Night
Accidents increase dramatically after dark, especially in the late-night hours. Many drivers, especially as they age, can have challenges seeing clearly in the dark. If this doesn’t include you, it could include other drivers on the road.
Avoid Driving in Bad Weather
Wet, snowy, or icy roads can be hazardous. Even a small amount of rain mixed with oils and chemicals on the roads can make them slick. This can be particularly true after extended dry periods. If you don’t have to drive in inclement weather, don’t. It could make you a safer driver.
Let It Go
Does your blood pressure rise when someone cuts you off? Frustrated by a driver who waits just a second too long when the light turns green? Want to shout “Get off the phone!” when passing a slow or erratic driver? One key to becoming a safer driver is to take a breath and let it go. The other person may not even know their actions offended anyone and be oblivious. But it may impact your attitude and safe driving habits for ten or twenty minutes.
Are you paying too much for your auto insurance? How would you know unless you compare? We can help with one call. Our independent insurance agents can check our network of companies for options to fit your budget. Contact us today.
Six Easy Tips to Safer Driving
Six Easy Tips to Safer Driving
It has been said that one of the best ways to save money on car insurance is to become a safer driver. Being a safer driver, however, may not have an immediate impact on your rates. Some car insurance companies offer driving monitoring devices and apps that can provide some more immediate impact, but restoring a clean driving record can take time. Here are some easy-to-implement safe driving tips you can begin using today.
Drive Safely Intentionally
Many of us get behind the wheel with a million things on our mind. We may have a schedule to keep and errands to run. We should all take a few seconds to remind ourselves that our main goal is to get to our destination safely. This can be done by adjusting your seat belt, mirrors, and checking the fuel level before putting the car in “Drive”.
Drive Like the Car Behind You is Law Enforcement
Have you ever noticed how much more carefully you drive with a police car in your rearview mirror? Odds are, you won’t be on your phone, and you may have two hands on the wheel. You certainly won’t speed.
Become Familiar with the Vehicle
Driving a rental or borrowed car provides additional challenges to safe driving for several reasons. You may not be familiar with how the car “feels” at certain speeds. You may not be familiar with how to work the wipers, lights, or cruise control. The infotainment system may be confusing. When driving an unfamiliar vehicle, take the time to get used to its controls before pulling away.
Avoid Driving at Night
Accidents increase dramatically after dark, especially in the late-night hours. Many drivers, especially as they age, can have challenges seeing clearly in the dark. If this doesn’t include you, it could include other drivers on the road.
Avoid Driving in Bad Weather
Wet, snowy, or icy roads can be hazardous. Even a small amount of rain mixed with oils and chemicals on the roads can make them slick. This can be particularly true after extended dry periods. If you don’t have to drive in inclement weather, don’t. It could make you a safer driver.
Let It Go
Does your blood pressure rise when someone cuts you off? Frustrated by a driver who waits just a second too long when the light turns green? Want to shout “Get off the phone!” when passing a slow or erratic driver? One key to becoming a safer driver is to take a breath and let it go. The other person may not even know their actions offended anyone and be oblivious. But it may impact your attitude and safe driving habits for ten or twenty minutes.
Are you paying too much for your auto insurance? How would you know unless you compare? We can help with one call. Our independent insurance agents can check our network of companies for options to fit your budget. Contact us today.
Vehicle Manufacturing Quirks of Which You May Not Be Aware
Vehicle Manufacturing Quirks of Which You May Not Be Aware
The automotive industry is full of interesting stories and quirks. Here are a few you may have missed.
The Original Ford Mustang
Lee Iacocca based his vision of the original Ford Mustang on the frame of the existing Ford Falcon. This made it easier to introduce quickly to the market and made it more affordable. The final model year of the Falcon was 1970.
The PT Cruiser
The Chrysler PT Cruiser was actually considered a truck by the NHTSA. It was designed as such to help Chrysler meet its overall corporate fuel mileage average for the EPA. It was built on a heavily modified platform that was used for the Dodge Neon. By the way, PT stands for personal transport.
The Ford F150 Pickup
In 1975, Ford introduced the F150 to fill a gap between the F100 and the F250. The F150 was also made to help Ford meet increasingly stringent EPA rules, but it turned out to be a marketing genius. The F Series trucks started their reign in 1948.
A New Car Smell is Neither Good nor Healthy
That new vehicle aroma many consumers love is actually a mix of smells produced by benzene, plastics, polyethylene, glues, and fabrics. Some believe extended exposure to these smells could be harmful.
Fiat
You may be driving a Fiat and not know it. Many brands now fall under the Fiat umbrella including Maserati, Alfa Romeo, Chrysler, Dodge, Ram, and Jeep.
Manufacturers May Buy Their Own Cars to Improve Sales
Some manufacturers have been known to buy a large number of new models to help establish a successful new car sales trend and to boost consumer appeal. The process is known as punching, and these cars are frequently resold later as pre-owned vehicles to consumers.
Engine Sound Is Orchestrated
Like its styling, a vehicle’s engine sound is designed for maximum appeal for its intended market. It has little to do with its performance. Manufacturers know which vehicles can benefit from a quiet engine and which ones need something more. Engine sound is not an accident.
Would you be adequately covered in a car accident, even if it involved an uninsured motorist? Our independent auto insurance agents can help determine your present coverage and see where you may be at risk. They can search our network of companies to find competitive pricing while possibly improving your coverage. Contact us today for your no-obligation review and price quote.
Ouch! Common Burns in the Home
Ouch! Common Burns in the Home
You probably don’t consider your home a dangerous place, and with a little bit of caution, it doesn’t have to be. Yet, every year, tens of thousands are injured in the safety of their homes. While slips, trips, and falls are the most common type of in-home injury (especially for children and the elderly), burns are the second most common injury. It is estimated that a whopping 73% of all burns occur in the home. This is concerning because most burn injuries are preventable with a little caution. Here are the most common causes of these household burns:
Fire
It may seem obvious that most burns in the home are caused by some form of fire. The flame could be from a gas stove, a candle, a fireplace, a fire pit, a propane grill flare-up, or a grease fire. You should never leave an open flame unattended in or around the home. Flammable materials should be kept away from fires, and every kitchen should at least have a small, general-purpose household fire extinguisher.
Scalding Liquids
Scalding occurs when the skin comes into contact with extremely hot liquids or steam. It can come from cooking, a hot shower or bath, a spilled bowl of soup, or a hot cup of coffee. A little bit more caution and even turning down the water heater a notch can help prevent these painful burns.
Electrical Burns
Burns from an electric shock are more common than you may think, especially for young children exploring the wonders of uncovered electrical sockets. Frayed wires, older small appliances, and electrical tools are other common causes of electrical burns.
Hot Surfaces
Hot pots, pans, smooth top stove surfaces, and even a hot car or a lawn mower engines are all capable of providing nasty burns. When in doubt, use potholders or gloves when handling or working near or with hot surfaces.
Chemicals
We may forget that our households may have other burn dangers lurking in our cabinets and garages. Chemical burns can be caused by battery acid, bleach, and other caustic cleaners and products. Caution should be exercised when using these products, including the use of appropriate gloves and eye protection.
While home insurance can help provide financial and medical relief from household burns and liability issues that may surround them, it is far better to prevent them.
If it has been longer than you can remember since you checked and compared home insurance rates, now may be the time. Contact one of our independent insurance agents for your quote today.
Five Horses Famous for Very Different Reasons
Five Horses Famous for Very Different Reasons
What did one horse say when meeting another? “Your pace is familiar, but I can’t quite recall your mane.”
Here are five famous horses most will remember for different reasons.
Secretariat
The sports field is crowded with race horses that made history, including Man O’War, Seabiscuit, and, of course, Secretariat. Secretariat was the sport’s ninth triple-crown winner and was so fast, he still holds the record at each of the three crown races he won. Also known as “Big Red,” Secretariat lived a long life in stud and retirement, living to be almost 20 years old.
Black Beauty
The equine protagonist of Anna Sewell’s novel has become synonymous with horses. The book was written in 1877 and has since been adapted into eight different films, a TV show, and miniseries.
Mr. Ed
Every family has its comedian, and in the horse family, that is the fictional Mr. Ed. Mr. Ed was a talking horse made famous in a campy TV series that aired from 1961 until 1966. Owned by hapless owner Wilbur Post, Mr. Ed’s oratorical skills get Wilbur into a wealth of comedic situations. “A horse is a horse, of course of course.”
Spoiler alert: Mr. Ed was made to appear to talk with the aid of a fishing line that was unseen on screen.
Sergeant Reckless
Perhaps the most famous heroic military horse in America was Sergeant Reckless. She served during the Korean War, bringing ammunition to the front lines and rescuing the injured from the battlefield. “Sergeant” was an earned military title won after she was purchased from a Seoul racing barn for $250 in 1952. The decorated horse lived until 1968, when she passed at age 20.
Trigger
Trigger was perhaps the most famous horse of American Westerns. Trigger was a palomino that stood over 15 hands tall and valiantly served cowboy star Roy Rogers. Trigger was stuffed after his death in 1965. He ultimately was sold to a cable network for $265,000, while his saddle sold for $100,000 more.
Horses have worked our farms, served as transportation, served our country, and entertained us. They hold a special place in our history and hearts.
When it comes to your auto, home, life, or business insurance, it is no time to horse around. Connect with our professional, independent insurance agents for your no-obligation review and price quote today.