When considering the option of adding non owned auto insurance to your commercial liability plan, it is important to read the fine print of your business auto policy. If you believe your coverage is sufficient, you could be making a dangerous assumption. Did you know:
- A typical business auto insurance policy does not cover damages or personal injuries that may result from an accident involving a personal or hired car driven by an employee? Standard business auto policies only extend such coverage to company-owned vehicles.
- A staffing organization is responsible not only for the actions of its own employees but, often, for those of employees placed within a client company? If your firm typically enters into a co-employment contract with the client company, you may be liable for automobile accidents that occur while employees of that company are driving personal or rented vehicles.
Non owned auto insurance is designed to fill the gap in your business auto coverage. Typically, protection extends to any vehicle used by an employee (or an employee under a co-employment agreement) during the course of business. Personal and hired vehicles are included in the plan. Under the specific terms of the policy, coverage includes the payment of:
- Legal fees incurred to defend a lawsuit
- Injuries and/or damages caused by an accident
Don’t assume your standard policy provides the coverage you need. Consult an experienced agent or broker today about adding non owned auto insurance.
While shopping around for the perfect insurance plan for your business, you might discover the task may be more challenging than expected. This is because the insurance industry is competitive, so sifting through the options is no easy task. However, when you find a specialized insurance plan that is already tailor-made to fit the coverage needs of your business, such as policies offered by Weber Associates, you can feel confident knowing that you will be covered by an agency that understands your unique exposures.
Examples of Industry-Specific Plans
Larger industries may have an easier time finding specialized coverage, but those in more specialized industries may not be afforded that luxury. Luckily there are insurance agencies that understand that offering industry-specific coverage plans even for smaller businesses is important. Some of these businesses include:
- Business product suppliers
- Laundry services and dry cleaners
At first, it may seem difficult to find an existing plan for your business, it’s important to remember that agencies such as Weber Associates do provide them. It can be worth finding these types of industry-specific coverage because of their advantages. Since these agencies must understand these industries thoroughly, you can feel confident that they have likely addressed in their policies exposures that are both common and unique in your line of work. Speak to an agent today to find a policy that is the perfect fit for you.
If you are looking for an insurance provider, there will be many options available. Rather than looking for the cheapest policy, look for a company that specializes in your industry. Experience and ability are worth the cost of quality coverage. The clients of Worldwide Insurance can attest to this.
Longevity is a good sign for an insurance company. Over the years, the insurance regulations, carriers, needs and prices fluctuate. A provider able to adapt to these changes and maintain a strong client base demonstrates experience and dependability.
With the Worldwide Insurance group, they have client retention numbers that top 95%. The past fifty have demonstrated their ability to identify the risks and exposures of the staffing industry and their commitment to providing comprehensive strategies to protect against them. They have amassed a client base that spans over 17,000 policies.
Policy options include:
There are many services available to meet the needs of staffing companies, and the Worldwide Insurance team is more than qualified to address your situations. Carrying proper insurance is vital to the financial success of your company, as it provides the support needed in the event of a client or employee claim or lawsuit.
Properly insuring your valet parking business is one step to protecting the financial assets of the company and the employees. Valet insurance is not the only way to protect the risks inherent in the industry. Protecting client vehicles and property can reduce your overall risks and lower claims saving you money.
Not only does a uniform make it easier for clients to know the person taking their keys works with the company, but they make the attendant more visible. By adding reflective material to their jacket or shirt, the attendant is more visible at night.
Following common driving safety procedures such as wearing a seatbelt and adjusting mirrors allows the attendant to operate the vehicle more confidently and safely. A comfortable, safe driver typically has less accidents. While critical to follow on busy streets, following safety guidelines in a parking lot can reduce the chance of an accident.
Even when the line of cars seems overly long, it is still essential attendants drive slowly. This protects the client’s vehicle and others on the road or in the parking lot. A simple no brainer that can decrease the chance of an accident.
A few simple things to keep in mind to make your business run a little smoother. Couple these tips with valet insurance and enjoy lower risks.
Working in law can be a very rewarding and profitable career. One the of main reasons this tends to be the case is because lawyers are accountable for many factors, especially when handling costly litigation’s, and are generally compensated well for it. It can be expected that an occupation that requires extensive years of education, talent and responsibility, is not necessarily one that just anybody can do, and like all professions is subject to human error. Regardless of the capacity an attorney chooses to practice law, for example, a large or small law firm professional liability insurance for lawyers is a must.
Why Coverage Is Necessary
One would be hard pressed to find any professional service that does not back itself with insurance. When the stakes are as high as they are in this field, it is no surprise that insurance isn’t just recommended; in most cases it’s mandatory. For lawyers specifically, insurance can protect against the following:
- Missing or lost records or files
- Property damage or injuries resulting from business
For a large or small law firm professional liability insurance for lawyers and other coverages cannot be taken for granted. Having these safeguards can allow attorneys to practice confidently and live up to their full potential knowing that common exposures will be protected against.
As technology develops, businesses big and small are relying on more methods of digital processes to handle various parts of their work. This means that a great deal of important information is stored as data within the cyber aspects of the company. Just as physical files and items need to be kept safely secured and insured, so do the digital ones. However, general liability that covers physical objects does not usually offer protection to the virtual side of a company. Due to this, when insuring your Carmel business, it’s important to look into Carmel cyber liability insurance to protect from digital danger.
What Are the Cyber Risks?
Just as physical security can be broken through, so can digital. If a malicious hacker breaks through to steal data or corrupt the system, this can be incredibly costly. Another issue with digital security is the fact that a third-party vendor may have a connection to you digitally, offering a risk there as well. Furthermore, an employee with access to vital data can create a breach or use that information for their own gain.
Any of these situations do not involve the damage or theft of any physical object. This is why finding Carmel cyber liability insurance for your business can save you a great deal from loss in the case of a cyber attack.
Custom built homes often come with a heftier price tag than their more conventional counterparts. Obtaining a policy that covers the specialized risks is only part of covering your liabilities. Lower the cost and reduce claims of your high net worth homeowners insurance with these three tips.
Winter storms bring snow, ice, hail and wind. Taking the time to seal any gaps especially along windows, the attic and doors keeps out that unwanted chill and moisture, both of which can cause problems.
Check the insulation in the attic of the home. Not only does proper insulation keep the heat inside the home, but it ensures the heat doesn’t leak into the attic resulting in melting and refreezing snow on the roof. Refrozen snow often results in ice dams.
Bursting water pipes that have frozen and then partially thawed is a huge problem for homeowners around the country. Before the first freeze, take these steps to reduce the chance of your pipes freezing:
- Apply heat tape or pipe sleeves to exposed pipes
- Drain irrigation systems
- Let cold water drip from faucets on exceptionally cold days
- Set your thermostat at or above 55 degrees
Preventing the harsh elements of winter from damaging your home can reduce the number of claims you need to file. Less claims keeps your high net worth homeowners insurance rates lower. You save time, money and the hassle often associated with repairing damage.
As an insurance agent, you have certainly felt the pressure of your work. Your clients depend on you to help them obtain the coverage they require in their time of need. However, you understand that the delicate nature of your business can make you a target for potential lawsuits and costly court fees. That is why errors and omissions insurance for insurance agents is specifically tailored to the types of litigation you may encounter.
Errors and Omissions Overview
Errors and omissions insurance deals with the costs related to a claim made by one of your clients against you. If a client’s feels that you have mishandled their money, made calculations errors that cost profit or were negligent in any way, a client can put forth lawsuit claiming your mistake affected them. Luckily, with errors and omissions insurance your court fees, settlement costs and other related expenses are covered.
You know that clients are sensitive about where their money goes. This is why an insurance agent is a big target. Therefore, it is better to be protected before these expensive incidents come your way.
A company that has the expertise on errors and omissions insurance for insurance agents understands the kinds of coverage you may need. Reach out to an agency today, and help out your business!
When it comes to business vehicles, if you don’t have the right insurance coverage, you may be liable for expenses from accidents out of pocket. Find out when you may need non owned insurance.
What Is Non Owned Insurance?
Non owned auto insurance will cover liability expenses that involve business vehicles that your company does not own. This may include rentals or an employee’s personal car, used for errands. For example, say that you have an employee that needs to drop off a business deposit or make a delivery for the company. The employee uses his or her personal vehicle and in the process is in an accident.
The other driver may sue your business for expenses related to the accident. In this case, if you don’t have non owned auto insurance, you may be paying out of pocket for these types of damages. In addition, a company may rent trucks or vans for transportation or hauling cargo. In this case, specific insurance is necessary.
When to Purchase Non Owned Insurance
If your business rents vehicles or if your employees use their personal vehicles to run business errands, then you may still be liable if there is an accident. Even if your employee has personal auto insurance, it may not cover the accident due to business driving.
Non owned auto insurance is crucial when you use vehicles for business that you don’t own.
There is little dispute that workers compensation coverage can be confusing. If you are the one within your organization who must find affordable, comprehensive coverage, the task can seem daunting. Fortunately, when you collaborate with the right agent, purchasing a policy is usually relatively straightforward. When looking for coverage, you may want to consider retrospective rating workers comp plans. Here are some of the many benefits of this type of coverage.
When companies negotiate premiums before a policy begins, workers comp coverage can seem like a waste of money. That is if your organization has no injuries, why do you have to pay so much for coverage? With a retrospective rating plan, insurers calculate premiums after the policy expires. As such, actual loss, rather than hypothetical ones, determine the cost a company pays.
Generally, to qualify for a retrospective rating plan, companies usually play an active role in controlling losses. They also must work to predict losses accurately and credibly. The benefit of qualifying for a retrospective rating plan, however, is clear. Companies often save a considerable amount over a similar, guaranteed cost plan.
Retrospective Rating workers comp plans usually provide good coverage at an affordable price. If your company is looking for an effective policy, you may want to consider enrolling in a retrospective rating plan.