Monthly Archives: July 2015

What Attorneys Professional Liability Insurance Covers

Attorneys need special insurance in order to cover any type of error or omission that may occur during their work. This insurance is called Attorneys Professional Liability Insurance. This type of insurance, much like malpractice insurance for doctors, can help lawyers remain solvent in the event of a lawsuit. There are certain occurrences which this type of insurance covers.

Errors

Everyone makes mistakes, no matter how hard they work. Accidents are bound to happen eventually. An error, no matter how small or large, should not mean the end for an attorney. Attorneys Professional Liability Insurance pays out in the event that an error occurs during or related to an attorneys duties representing a client. These errors can include inaccurate billing, errors during court proceedings or inaccuracies in paperwork.

Omissions

In the legal profession, leaving relevant information unsaid is a big problem. Whether it is forgetting to advise your client of rights they may have or failing to tell a client about the true cost of services, an omission can be grounds for legal action. In the event that this occurs, this type of errors and omissions insurance can help the attorney pay their fees and penalties.

Attorneys Professional Liability Insurance is an important policy that any insurance agent should offer. This type of insurance allows an agent to give any clients in the legal profession the coverage they need.

When Should You Purchase a Life Insurance Policy?

If you don’t already have CT life insurance, you may already know that you need to acquire this form of insurance, but don’t know when the right time is to do it. Although how much life insurance you need varies throughout the course of your lifetime, you can likely benefit from having one of these policies during every stage of your life.

Single

If you are single, you probably don’t need very much CT life insurance. However, it’s a good idea to acquire a life insurance policy in order to cover your burial expenses if you were ever to pass away. This way, this financial burden would not be passed on to your family members.

Married

If you are married, you may not need very much life insurance. However, it is a good idea to consider purchasing a more extensive policy if you are the primary supporter and your spouse does not work.

Married With Children

When you have a spouse and children, it is critical that you have life insurance. By acquiring a life insurance policy, you protect your family’s financial stability in case you were to die unexpectedly.

As you consider how much life insurance to buy and when to buy it, think about your personal circumstances and whether or not they will be changing in the near future. You may also want to consult with an insurance agent who can provide you with guidance.

What Does General Liability Commercial Insurance Cover?

General liability commercial insurance is an essential type of coverage for any business. Most business owners recognize this but do not fully understand exactly what this insurance covers. If you have one of these policies in place, it’s crucial to protect yourself by understanding both its reach and its limitations.

Typical Areas of Protection

Most general liability insurance policies provide financial coverage in the event of claims that involve property damage or personal injury. Your policy may address costs associated with investigating the incident and mounting a legal defense. If you reach a settlement or are ordered to pay damages, general liability insurance also can cover a set amount of those costs.

Excluded Costs and Situations

General liability commercial insurance excludes property damage and injuries that occur under certain circumstances. For example, auto accident claims aren’t covered, and neither are employee injuries. Additionally, coverage might not be available in the following situations:

  • Your business or its representatives engage in knowing misconduct.
  • Your business makes a professional mistake.
  • Your business is ordered to pay punitive damages.

Fortunately, there are other types of insurance that can complement your liability coverage and address these risk areas.

Ensuring Full Protection

It’s important to understand the situations that are excluded from your liability policy so that you can put together adequate protection. Reviewing your current policy and your other options with an insurance agent is an advisable way to make sure that your business is not left exposed to any unexpected liability.

What Is Errors and Omissions Insurance?

Working professionals must deal with a wide variety of insurance. Each field has its own list of must haves and add-ons, but errors and omissions insurance is fairly standard across the board. What is E&O insurance? This type of coverage takes care of the legal fees associated with negligent actions and inadequate work claims. Even when the defendant is found not guilty, the full expenses of trials, mediations and lawyers can wipe out an enterprise.

Where to Find E&O providers?

Some agencies will specialize in this field, but many bigger insurance companies will offer E&O as part of a package or as an add-on to an existing policy. To find a suitable policy, do some research online and consult with a local insurance broker. Different industries require different particulars, so be sure that prospective policies can cover the demands of the appropriate industry.

Who Should Have E&O Policies?

First and foremost, if an enterprise has a long list of staff members, owners should seriously consider this type of insurance. E&O protects against unintentional mistakes and with a large number of employees, the risk of error increases significantly. The most well-trained and dedicated professional cannot predict every future obstacle and is not immune to imperfection. As such, the policy is always a good safety net.

What is E&O Insurance? It is a safeguard against unforeseeable hurtles down the line. It can ensure that a business is capable of surviving a malpractice claim.

Reasons to Get Nursing Home Insurance Coverage

Chances are high that eventually someone in your family will need long term care provided by a nursing home. Although these nursing facilities can be incredibly beneficial, they can also be rather costly. If you are not careful, sending yourself or a loved one to a nursing home could wipe out your life savings and put you in severe debt. In order to protect you and your loved ones, it is very wise to invest in some nursing home insurance coverage.

Benefits of Nursing Home Insurance

There are several reasons why someone might decide that get long term insurance coverage is the best option. One is to maintain their standard of living after they have stopped making an income. Another reason is to be able to afford living in a nursing home on your own so that you do not have to rely on family members paying the bills. You will also be preserving your own wealth so that you do not have to spend your children’s inheritance on nursing home costs.

Get Covered Today

Ultimately, getting a solid insurance plan ensures that you are able to pay for the care you need without having to spend your family’s money. There are numerous plans available, so you can find the perfect one for your needs. Do not risk losing everything by being caught without nursing home insurance coverage.

Easy Ways to Decrease the Cost of Small Business Health Insurance

Many small businesses offer health insurance policies for their employees. This benefit is a great way to attract qualified and competent employees, but it can also be expensive. Fortunately there are easy ways to decrease the cost of New Jersey small business health insurance.

Adjust Your Coverage

The cost of health insurance goes up when you increase the coverage. If you want to minimize your out of pocket expenses, you can change the policy to something less expensive. You can also ask employees to pay a portion of their salary towards the cost of the coverage.

Encourage Employees to Be Healthy

The healthier your employees are, the less expensive your New Jersey small business health insurance is likely to be. To improve the health of your employees, make sure they get yearly checkups at the doctor. Also, make sure they avoid unhealthy habits like smoking.

Consider a Group Plan

Another way to minimize your health insurance costs is to join a group. Larger groups often qualify for better discounts. Since your business is small, lower rates are likely to be found with a group plan.

Make sure to shop around when you are looking for small business health insurance. Also, do your research so you know what kind of coverage you need. With a little effort, you will find the right policy for your needs.

Insurance for Your Classic Car

Unlike most cars, if your car is classified as antique or classic, there’s no Kelley Blue Book valuation for it. This makes buying insurance for your ride tricky. If you want to take it out on the road, state law requires auto insurance, and it’s just irresponsible not to protect your passengers, your investment, and yourself. You need a surety company in New Jersey that can write the policy that does what you need.

Traditional auto insurance is based on the depreciated value of the car. This doesn’t apply with classic and antique vehicles, because they tend to increase in value over time. To get classic or antique car insurance, you will need another primary vehicle, as you cannot use your collectible car as your main source of transportation. When you go to purchase your insurance policy, be prepared to identify a value for your ride. You may also be required to show where it’s being stored, as this is important to the protection of your car.

Differentiating between your collectible car or just a car that is older is not always easy. You can look at how rare the vehicle is, and what you’ve invested in it. Your surety company in New Jersey that provides the coverage knows how to get the most affordable rates while protecting your investment. Enjoy the road in your classic ride with peace of mind by having the right insurance.

Finding a Staffing Insurance Provider

When you purchase a staffing insurance policy, you gain peace of mind. Staffing firms have a unique set of challenges and liabilities. As such, they require specialized policies that cater to industry needs and dangers. Even the most expertly managed companies must prepare for unknown obstacles and customer claims. The proper protection can help enterprises cover future court and lawyer fees, which will save funding for other important business activities.

Broad Range of Useful Add-Ons

What should a company executive look for when researching potential staffing insurance providers? First, take into account the business most specific needs and find an agency that can provide the encompassing and useful support. For instance, does the company need coverage for the following liabilities:

  • Hired and Non-Owned Auto
  • Umbrella
  • Crime
  • Property and Inland Marine
  • Cyber
  • Employee Benefits

Experience With the Industry

The truth is that not all agencies are created equal. Some can offer car insurance, home insurance and staffing insurance, but they dont actually specialize in either. As such, their coverage is a bit lacking for a staffing firms specialized needs. Therefore, set up meetings and make sure agents understand the ins and outs of the staffing industry and are capable of really providing quality coverage.

When it comes to top shelf insurance, dont skimp on the research. Visit company websites and set up in-person meetings to discuss all concerns and really vet the agent and agency.

Three Factors That Affect Your Auto Repair Shop Workers' Compensation Rates

Workers’ compensation insurance is an essential expense for any auto repair shop. Still, as a shop owner, you may not fully understand the factors that affect your vehicle repair workers compensation costs, which can make budgeting for this expense or lowering your premiums difficult. Determining insurance rates is a complex process, but the following factors are ones that will generally affect your final cost.

  1. Industry Hazards: When setting premium costs, insurance providers start by considering the risks that are unique to your business and the typical characteristics of claims in your industry. For example, an insurer may consider the number of claims that result in compensation and the average value of that compensation.
  2. Your Track Record: An insurance provider will also review the history of claims made at your shop. If you have an unusually high rate of claims, this may suggest that you are failing to take reasonable steps to prevent accidents and injuries. As a result, you may end up paying a higher premium to secure vehicle repair workers compensation coverage.
  3. Safety Measures: On a similar note, an insurance provider may consider any steps that you currently take to reduce the risk of accidents and injuries. These measures could include extra employee training, the use of special protective equipment or incentives that encourage safer working practices. A strong focus on safety could help lower your premium costs.

Managing Your Costs

If you still have concerns about your workers’ compensation insurance expenses, speaking with an insurance agent may be beneficial. An agent can help you understand the reasons for your current costs and the measures that could help you reduce those costs in the future.

How to Find the Best Logistics Insurance Broker

Working in the shipping and cargo business is not for the faint of heart. With worrying about stock, fast transit, keeping clients happy and the insurance to cover it all, it can get a little overwhelming. Logistics insurance brokers are there to help you relax and know that your precious cargo and equipment will be covered in the event of an accident. Using the following tips to finding the best one for you can make your insurance quest all the easier.

Because the shipping business is always changing and evolving to keep up with the times, it is vital to find logistics insurance brokers that will adapt with you. You can find this by searching for companies that offer a wide variety of policies that will tailor them exactly to your needs.

There are many risks involved in the marine transit, such as damaged cargo from poor handling and collision, the possibility of non-delivery, crates that get overturned and so on. A stellar insurance company will ensure that you are protected from each of these risks by going through common occurrences and customizing your coverage.

You know that you’ve hit the jackpot of logistics insurance brokers when you’ve found a company that truly cares about you and your business. Once you’ve found an adaptable, respected and caring company, hold on to your policy and never let go.