Monthly Archives: January 2015

Saving Money on Homeowners Insurance

Just when it seems like you can’t possibly have any money left after closing costs and purchasing your brand new home, it’s time to consider NJ homeowners insurance. The good news is that insurance doesn’t always have to be expensive. Here are three simple ways you can save money on your house insurance.

Have Good Credit

If you don’t have good credit yet, it’s time to start building some. The better your credit is, the more likely you will be able to qualify for a lower premium on all kinds of insurance policies.

Consider Bundling

Some insurance agencies offer more types of insurance than just homeowners insurance. You might even be able to get a better rate if you have more than one policy with the same agency. Make sure the coverage is to your liking, then bundle.

Review Your Coverage Options Carefully

Some types of coverage may be superfluous. Talk with an insurance agent to see what type of coverage you really need. You might consider eliminating some types of coverage if you are not really at risk. You can also lower your premium if you select a higher deductible.

Review Your Insurance Yearly

After you select a NJ homeowners insurance policy with which you are happy, review it yearly to make sure it still meets your needs and to see if there are any new ways you can cut down on the cost. Even asking your agency about what you can do could save you some money.

E&O Insurance for Insurance Agents

The Basics of Errors and Omissions Insurance Coverage

Most insurance business owners have heard of E&O insurance for insurance agents, but they may not understand why they need to have errors and omissions coverage themselves. Whether you own a large or small insurance company, here is some basic information that you should know about errors and omissions insurance.

What Does Errors and Omissions Insurance Cover?

Most professionals realize how important E&O insurance coverage is for protecting their business from claims of professional errors. Sometimes claims may be unfounded and sometimes they may be legitimate, but your company will always be responsible for any costs associated with litigation. E&O insurance for insurance agents is typically designed to cover settlements, judgments and defense costs. Even if claims end up being completely unfounded, your business will unfortunately still be stuck with all costs related to defense.

Why Do You Need Coverage?

Whether you are a brand new insurance agent or an experienced agent, everyone is susceptible to mistakes. Some mistakes may be larger than others and may cost your clients financially. If this happens, they may come after your business by filing an errors and omissions claim against you. That is why it is always wise to have E&O insurance coverage to give your business a financial buffer for legal costs.

To find out more about how errors and omissions insurance can offer financial protection to your insurance business, talk to your trusted insurance company.


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Things to Look for in Your Lawyer Professional Liability Insurance

Things to Look for in Your Lawyer Professional Liability Insurance

Every lawyer needs proper lawyer professional liability insurance. Of course you hope not to need it, but in the case that you do it can save you a great amount of time and resources. When selecting your coverage, there are a few key things that you should look for.


What You Need


Not all plans cover the same things, so it is important that you weigh your options when choosing a plan for you. Make sure that the policy you are interested covers all of the aspects that you need


Adequate Coverage


Though some plans may boast a wide range of coverage, the actual amount of coverage of certain aspects may be less than you would expect. Take time to examine the different offerings of the plan and the extent that they cover, which can greatly aid your decision.


Requirements and Qualifications


Along with the amount of coverage, you will also want to read the fine print to discover any requirements or qualification standards that the insurer has in place. Though they may offer a service under your plan, you may not qualify to receive it.


You want to make sure that you have the proper lawyer professional liability insurance policy in place. By ensuring that it offers what you need, and understanding the scope and requirements for the coverage, you can be sure to select the best plan for you.


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Increase Cash Flow With a Large Deductible Workers Compensation Program

A large deductible workers compensation plan my help to lower insurance costs and increase cash flow for some businesses. Loss-sensitive plans, as they are also known, differ fundamentally from guaranteed cost plans in that they take loss experience into consideration during the term period. A workers compensation insurance broker can analyze a business to assess which approach offers the best coverage at the most affordable premiums.


Loss-sensitive insurance plans lower costs by having the insured assume greater risk in the event of losses. Employers must be willing to fully leverage loss control, claims, and medical and pharmacy management programs. Typically, the insured manages a loss fund to pay losses, which must be reimbursed as losses are paid. Once the insured has paid claims in the amount of the deductible, the insurer picks up the responsibility for costs over and above the deductible.

A Plan for Employers With Stable Risk


A workers compensation insurance broker is a good source to find out whether or not your business would benefit from a high deductible plan. It is necessary to analyze losses over a significant period of time to determine a loss average. Companies with consistent and generally predictable loss experiences are better positioned to take advantage of loss-sensitive plans than businesses with higher risk profiles. For employers with limited or low-risk operations, a high-deductible plan may be a smart solution controlling workers compensation costs.

The Benefits of Having a Life Insurance Policy

A life insurance policy can be a great aid to both you and your family. Depending on your policy, you could reap benefits while you are still living, as well as when you have passed on. There are two main benefits that anyone would appreciate in a Connecticut life insurance policy.

Peace of Mind

With a life insurance policy in place you do not have to worry about how your family will be able to afford your funeral. If you know the type of home-going you would like, you can properly budget for it and pay into your plan, so that when the time comes your family will be able to fulfill your wishes with ease.

Aid Your Family

Your Connecticut life insurance policy can be of assistance while you are living as well as when you are gone. If you select a permanent life plan, you could put a portion of the equity from your policy towards a major down payment. The beautiful thing is that you can build those funds back up as you continue to pay into your plan over the years.

Though it may not be the most popular topic of conversation, your life insurance policy is an important thing to discuss. Having a Connecticut life insurance policy in place can provide you with a peace of mind as well as aid your family in times of need, sometimes even before you are deceased. Take some time today to explore your personal insurance options.

Top 3 Benefits to Look for in Disability Insurance for Dentists

Top 3 Benefits to Look for in Disability Insurance for Dentists

Insurance plans are meant to protect individuals and their businesses. There are various plan options available and choosing one can become overwhelming. To ensure that you make the best choice, there are 3 benefits to look for in disability insurance for dentists.

1. Liability Limits

Though all liability plans will offer some form of liability coverage, not all plans are made equal. Take some time to compare the amount and scope of coverage, as well as any requirements that may stipulate the coverage for you and your business.

2. Consent to Settle

You will want to pay close attention to the type of consent to settle that is included in your plan. Some insurers will require that they have the final say in how the case is settled, regardless of how you feel. Other insurers will offer pure consent to settle which leaves full power in your hands.

3. Special Benefits

Some insurance companies will offer special benefits that can aid to enhance your business. For example, an insurer may provide risk management programs that help to educate you, as well as reduce chances of possible issues in the future.

To help narrow down the selection process for the best disability insurance for dentists, there are 3 main benefits to think about: liability limits, consent to settle and special benefits. By giving these things special consideration, you can be sure to pick the most valuable plan for you.


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Keeping Yourself Protected As a Tenant

Keeping Yourself Protected As a Tenant

If you’re renting the home that you live in, you may want to consider getting insurance. Did you know that only about 30% of renters have tenant insurance? Many don’t even know that it’s available to them. If something happened to the home, you wouldn’t have to pay to fix it because you rent it, but you would have to pay to replace all the belongings you lost due to the damage. Some of those items, such as televisions, gaming systems, and jewelry are expensive to replace on your own, especially all at once.

What Will This Insurance Cover?

If you did get tenant insurance, the policy would cover the cost of any belongings that were damaged. Instead of buying a new television, electronics, and other items with money from your savings account, you’d receive the money from your insurance policy to replace them.

Along with coverage for your belongings, you can receive liability insurance coverage. If your rental home features a swimming pool or hot tub, those specific amenities are considered liabilities because there’s a possibility that a guest could become injured in either one of them. Having any liabilities on your property without the proper insurance is always a risk. If a guest gets hurts when they’re at your home, they may decide they want to file a lawsuit against you. The tenant insurance could protect you from a pricey lawsuit.

Avoid Risks With Protection

Avoid taking risks by purchasing the necessary coverage. You can decide what kind of coverage you need based on the type of apartment you’re living in, the belongings you own, and the liabilities that you may have.


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Secure Your Business With Employment Practices Liability Insurance

Secure Your Business With Employment Practices Liability Insurance

If you own a business, then you need to have employment practices liability insurance. Even companies that have only a few employees can benefit from this type of coverage. The costs of a liability claim are immense, and you need to obtain a policy that protects your financial assets.

How Does Liability Insurance Protect Your Business?


Employment practices liability insurance provides coverage to your business in the event a fulltime or part-time employee files a claim. Coverage is also available for claims made by clients or vendors. This type of insurance is meant to protect directors, officers, and management personnel. Coverage is not extended to include bodily injuries or property damage.

What Types of Claims are Covered?


There are many types of claims covered by liability insurance:

  • Demotions or failure to promote
  • Discrimination
  • Negligent hiring
  • Sexual and other forms of harassment
  • Wrongful termination
  • Wage and hours claims
  • Vengeful actions against employees

These are just a few of the most common scenarios that are covered. If you are unsure about the coverage provided by your policy, you should discuss the issue with your insurance agency.


Secure a Policy Today


You should not let your business be without employment practices liability insurance for long. You never know when a claim will be made, and you do not want to be unprepared to handle the situation. An insurance agency can help you find an affordable policy that is appropriate for your business.


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Benefits of Directors Liability Insurance

Benefits of Directors Liability Insurance

Corporations can do various things to minimize the financial risk of their directors, but high-level corporate positions always come with a degree of risk. If customers, vendors or anyone else who deals with your company feels like they have been wronged, they can take their anger out on individual directors by filing lawsuits against them. You could also be faced with the opposite situation, where the actions of a single director threaten to cost your company significant financial repercussions.

Company directors liability insurance can ease your company’s financial burden by offering valuable coverage for common risks associated with high-ranking directors, including data breaches, allegations of security fraud and any other type of lawsuit brought against your company or specific directors in your company.

How Directors Liability Can Help


Directors liability insurance provides a protective buffer that may keep your company from facing financial ruin as the result of expensive litigation costs. Whether claims brought against your company or directors are legitimate or unfounded, company directors liability insurance can cover defense costs and regulatory investigations. This important type of insurance coverage offers indemnification for financial losses that result from legal action for alleged wrongful acts.

Even if you have a lot of faith and trust in your company’s high-ranking directors and management, you never know when someone else may feel that they have been wronged by those same directors. Do not leave your company vulnerable to lawsuits and defense costs. Instead, decrease your financial burden by purchasing directors liability coverage.


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A Reasonable Insurance Plan Must Include Errors and Omissions Coverage

A Reasonable Insurance Plan Must Include Errors and Omissions Coverage

When searching for appropriate insurance for your business, it’s best to choose a number of policies to create comprehensive coverage suited to many different occurrences. Errors and omissions insurance is essential in this regard because it will help your business deal with claims related to customers dissatisfied by a particular service. The following are just a few key items related to e o insurance, and why it is so important for your business.

Who Needs Errors and Omissions Insurance?


Just about every business can benefit from e o insurance. Because mistakes can happen frequently, and may not always be preventable, suitable insurance coverage is essential to remaining protected. Even the most successful businesses may experience a mishap or momentary lapse in judgment, and these instances can become quite expensive is litigation results.

What Do These Policies Cover?


Errors and omissions coverage provides financial support for things like court costs and the subsequent damages. Even if an allegation is found to be without merit, a company may still have to pay exorbitant defense fees while dealing with litigation. These fees can become quite expensive, especially if legal proceedings last a particularly long time.

An Insurance Plan Suited to Your Needs


Protecting your business is part of maintaining a successful financial outlook. Errors and omissions insurance is just one of many policies needed to ensure your business will continue to thrive.


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