Winter weather can quickly become dangerous for people and homes, and heavy snow can cause damage to roofs, foundations, and pipes. In many cases, your homeowners’ insurance will cover damages related to winter storms. However, that is rarely the case when the damage was preventable with routine maintenance. The following tips can help protect your home from snow damage.
Keep Trees Trimmed Away From Buildings
Limbs can become too heavy for a tree to support when they are covered in snow and ice. If one breaks too close to your home, it can crash into the roof causing structural damage and potentially letting wet weather inside. Be sure all branches are at least 10 feet from the house to be safe.
Clean Gutters and Install Ice Breakers Where Needed
Snow that cannot get off the roof can cause water damage. Be sure the gutters are clear so any melting snow can drain off. Also, if you have a metal roof, check to see if ice breakers are recommended and have them installed if needed.
Remove Snow From Around the Foundation
While you probably think to clear walkways and around cars, you should also show the ground around your foundation some attention. Snow that is left around the house can cause problems once it starts to melt and pool against the foundation.
Talk to your insurance agent about snow damage & homeowner insurance to learn about additional measures you can take to protect your home.
An auto dealership owner must protect against liabilities unique to their business. These liabilities often require specific types of insurance in addition to the basics any company must carry. Here are two of the additional coverages provided by used auto dealer insurance programs that dealerships may need.
Garage Liability Insurance
Most businesses must carry general liability insurance, which covers only some of the liabilities a dealership faces. Garage liability insurance is an umbrella policy that provides an extra layer of protection that fills gaps in used auto dealers’ general liability coverage. It covers on-site customer injuries and may also cover things like employee discrimination lawsuits or third-party property damage.
Garage Keeper’s Insurance
Used auto dealers who service customer vehicles on-site might need garage keeper’s insurance. This insurance covers any physical damage that may occur to a customer’s vehicle while in the dealership’s care. Damage could include fire, vandalism or extreme weather. It would also cover the theft of a customer’s vehicle.
Auto dealers must protect against some different types of liability and property loss that standard business insurance does not cover. Many insurance companies offer used auto dealer insurance programs that bundle all the different coverages a used auto dealership needs.
Picking the right coverage for your business takes time. For plenty of organizations, a traditional insurance arrangement is going to be a solid choice. Unfortunately, there are countless scenarios where a specialized arrangement is going to be much more useful. Failing to look at all of the options in front of you can be dangerous, so you should always dedicate time to understanding alternative choices like captive insurance plans in order for you to see which is the most useful for your needs.
What Are Captive Arrangements?
Captive arrangements have been quite popular for business owners in certain industries. Essentially, association captives are policies where the risks are assumed by all members of the cell. Typically, the cell will be composed of other members in your industry, helping to create a situation where all parties can benefit and share responsibility. This arrangement is similar to other captive arrangements for groups, with the exception that all parties are in a shared industry. Areas where this type of arrangement can be helpful include:
- Businesses in niche industries
- Need for specialized workers’ compensation
- Organizations requiring flexible offerings
What Choice Is Best?
While captive arrangements will not be the right fit for all businesses, a good amount of companies will benefit from the choice. Take time to learn more about this service to see if it is a sensible choice for your future.
Cargo freighters handle much of the world’s international trade. They are the enormous vessels that cross oceans carrying everything from cars and trucks to toiletries. There are several risks in the cargo shipping industry that vessels must be protected against.
When a ship is at sea, it is necessarily vulnerable. In commercial shipping risk management, piracy must always be considered a legitimate threat. There is always the potential for piracy and so shipping companies should always have emergency plans that address the potential threats involved.
2. Autonomous Shipping
A lot can go wrong when there are not crews of people on board that have been prepared to handle potentially disruptive situations. Commercial shipping risk management relies on computer technology that can be tampered with. Any number of potentially bad situations exist if a computer’s autonomous system is hacked or experiences a cyberattack.
3. Natural Elements
The ocean will always have an association with risk. Even though sophisticated equipment exists to detect atmospheric issues, storms can be unpredictable and tremendously destructive. Even a storm that doesn’t cause damage to a vessel could keep it from arriving at a port, and thereby delaying business.
Commercial shipping is the industry that drives the world. Vessels must be protected against threats, whether on the dock or a thousand nautical miles off the coast.
Business owners who provide insurance for their employees often believe their only choice is to self-insure. While this is a viable option, it is not the only one. Choosing between self vs. captive insurance is worth careful consideration, especially for those companies whose income fluctuates throughout the year.
Pros of Self and Captive Insurance
Self-insurance is a common choice among small businesses. Companies who choose this option always know where their money is going. They also only pay as employees make claims, meaning both employee and employer save money if they do not use the insurance.
Captive insurance, on the other hand, is more streamlined. It allows for more financial control that lets you pay smaller deductibles. You also have more flexibility with the money than self-insurance would provide.
Cons of Self and Captive Insurance
Despite the positives, there are drawbacks to both options. Self-insurance costs more to set up initially. You’ll also be responsible for processing and paying for employees who rack up high claims, either through an accident or health issues.
Choosing captive insurance may allow you more financial control, but it also means you are responsible for putting in the time and effort to set up and maintain the insurance. Captive insurance may prove prohibitive to those unable to devote the proper resources.
The choice between self vs. captive insurance is an important one to make. Be sure to weigh your options carefully.
There is — to put it simply — no substitute for high-quality, clean water. Whether your business is purifying water on an industrial scale — for a city or town — or makes devices that allow for water purification in the comfort of one’s home, you are likely aware of the deep importance of the work you do.
Because of the urgency of clean water, and the risks of water becoming contamined, carrying comprehensive water treatment business insurance is absolutely necessary for all businesses in the industry. This will help to protect your business, as well as your clients, in the event of any problems in the purification process.
What Does Water Treatment Business Insurance Cover?
Whether you operate a water testing laboratory or an industrial purifier, maintaining clean water is paramount. Interruptions in the process can range from mild inconveniences to major health hazards.
Concerns about mold, bacteria, and other pollution in the water are serious. These sometimes suggest attendant issues, such as the need for recalls, the need to perform rapid and ugent cleanup, and more standard concerns like protecting vehicles and workers.
In short, speaking to your insurer about a thorough water treatment business insurance program will help you be well-prepared in the event that any major business interruptions occur.
Managers and frontline staff working in nursing homes and assisted living facilities need to be vigilant in caring for residents who could put themselves in harm’s way by wandering off. Here are some fundamental considerations about long term care wandering.
Record Incidents and Create Plans for Individuals
Documenting occurrences and assigning appropriate designations to residents who have wandered is an essential way to prevent reoccurrence. All staff members need to know when individual residents require additional levels of attention or when certain policies aimed at preventing wandering.
Video surveillance of a facility can alert staff when a resident has left a specific area or attempted to enter an area that could be potentially unsafe. Motion sensors can generate real-time alerts that prompt attendants to offer aid.
Use Additional Remote Monitoring Tools
Repeated instances involving wandering or elopement may merit establishing additional protections for residents. Equipping residents with GPS locators could help staff to find someone quickly and avoid unnecessary searching or exposure to various dangers.
Facilities’ leadership must offer extensive training for staff about what they need to do to prevent and respond to residents’ going off on their own. Training topics should include discussion of why certain methods to control the problem could be unsafe and full explanation of the correct procedures to address wandering safely and effectively.
Saving for retirement is important if you want to have a comfortable lifestyle in your golden years and requires a certain amount of deliberate planning.
There are several takes on the stages of retirement saving, but they all boil down to the same basic principles.
This is the stage where you are putting money from income into a retirement account. During this time, you’ll want to keep your eyes on the horizon and remember that your ability to live comfortably during retirement depends on how much you accumulate during this stage.
During the planning stage, you will be conducting a review and forecasting things like your anticipated living and lifestyle expenses, tax obligations, and other areas of your finances. Here you will gain some insight into how much you can expect to spend in any given month and will be able to budget accordingly.
This final stage is when your earned income stops and you are finally able to reap the rewards of your careful planning. During this time you will want to budget wisely and make sure you are living within your means, as the primary purpose is to ensure your income stream outlives you.
With these stages in your mind, you should be able to live comfortably and happy during your retirement years.
Running a real estate business is a complex venture. There are employees and their clients to account for. These people visit variable environments. You also likely have a large digital database full of personal information. There are many situations where you could be held liable. That’s why having real estate industry insurance can help.
Ins and Outs of Real Estate Insurance
A client may slip on the wet floors of a home that your real estate agent is showing. A data leak could compromise the personal information of your clients. A fire could damage your real estate office building. An upset client could damage property.
These are just a few examples of where your business could be held liable. Having thorough insurance coverage can help cover the costs of claims. If something goes to court, insurance can help cover legal fees.
Why Real Estate Insurance Can Be a Good Idea
The costs of claims, compensation and legal fees can add up. They could negatively impact the financial success of your company. Having insurance can help keep your company afloat when facing these issues.
Mistakes and accidents happen. It is impossible to predict when. Having insurance now gives you peace of mind. That way, you are prepared for when the unexpected hits.
Wholesale distributors know there are many risks that come with owning and running a business. Theft, fire, and flood are just a few reasons to consider wholesale distribution insurance. Know the hazards your company may face and how to mitigate them before disaster strikes.
Performing a risk assessment can help your business prioritize and plan as needed. The Institute for Business and Home Safety reports an estimated 25% of businesses never reopen after major catastrophe strikes. A company in California may want to prepare for fires and earthquakes. Businesses who store or work around flammable materials will also want to consider and plan for the possibility of explosions. And regardless of where a distributor is located, cyberattacks and cybersecurity are key considerations.
Supply Chain Risk Management
Knowing your suppliers and periodically reviewing contracts with vendors are worth spending time on to save headaches later. What clause is in place in case of a natural disaster or national emergency? Wholesale distribution insurance can give you a layer of protection in case the unthinkable happens.
Changing Regulatory Requirements
Government regulations can be complicated and can change periodically. What are the building code requirements in your area? How will you properly dispose of hazardous waste? It’s important to know the answers to questions like these to help stay clear of fines and other noncompliance penalties.