There is a lot of confusion surrounding homeowners insurance. One of the biggest questions is what exactly does this insurance typically cover.
Although it may seem obvious, home insurance covers your home in the event of lightning, fire, or hail damage. It does not cover hurricanes, floods or other natural disasters unless you specifically purchase that coverage. If you live in a flood zone, your mortgage company may require flood insurance.
The liability portion of homeowners insurance covers you if someone is injured on your property. It covers the cost of medical payments and the cost of any lawsuits filed against you.
This portion of your policy covers the contents of your home, such as furniture, appliances and clothing. Personal property coverage is an excellent thing to have in the event of a fire but be careful if the damage is due to a flood or other natural disaster, you will need a different form of coverage.
Living expenses insurance is sometimes called a loss of use policy. This covers hotels and rentals if you have to leave your home when something has rendered it unlivable.
Some insurance policies are better than others. You have to read your policy carefully, so you know exactly what is covered and what is not.
Any business that has employees needs to provide insurance coverage for them…while also minding its budget. If you’re struggling to balance your monetary needs with the best protection for your workers, a group health insurance agency may be able to help you get the best of both worlds.
Peace of Mind for Your Employees
Group health insurance doesn’t just cover the basics. It can also include coverage for dental, disability, and life insurance, as well as alternative options, like HSAs and FSAs, for those who do not want or need a traditional plan. Your employees will feel that you are making sure all their needs are met.
Customized to Your Company
Providing great coverage for those you employ doesn’t have to break the bank. A group health insurance agency can work with you to develop an insurance plan that fits your budget. Avoid paying for things you don’t need and maximize the benefits for yourself and your workers.
Providing insurance to a large group of people can be intimidating for business owners. When purchasing insurance, you want to balance the wants and needs of your employees with what is realistic for the company. Luckily, a group health insurance agency can help you find the sweet spot between the two ideals and help you get maximum coverage without blowing your budget.
Determining whether to purchase commercial vs personal auto insurance is not always easy. Answering these three questions may help.
1. How Do These Types of Policies Differ?
Commercial auto insurance policies are designed differently than personal auto insurance plans. A personal policy is written for a specific driver. The driving record of that person is among the factors considered when determining the cost of the premium. A commercial policy covers vehicles used for the company’s business purposes and may not specify a certain driver.
2. Who Is Driving the Vehicle?
If an employee is driving a car owned by a business, it is likely that a commercial policy is needed. This could also be the case if the driver is a sole proprietor of a small business or an independent contractor who uses the vehicle for work.
3. What Is the Purpose for Using the Vehicle?
Vehicles used for business-related tasks typically require commercial coverage. For example, an owner who uses the vehicle to drop off supplies to a job site may require commercial coverage. Personal auto insurance will typically only cover the commute to work.
If a business or individual is unsure whether they need commercial or personal auto insurance, it is usually best to ask an insurance company for assistance.
As a business owner, you understand the importance of having adequate insurance coverage to protect your employees and your property when an accident or weather event occurs. As vital as this coverage is, you must also protect your investment against unwanted claims made by employees. Employment Practices Liability Insurance, known as EPLI, covers legal fees and settlements in many circumstances, including claims of discrimination, harassment and wrongful termination.
Examples of Employee Claims
EPLI claims cover a variety of issues that take place in the workplace. Let’s look at a few examples.
- Illegal background check – During a background check for a potential employee, the HR department finds something unfavorable in the person’s past and declines to hire them. If the candidate did not give written permission beforehand, the background check is illegal and the person can sue.
- Harassment claim – Any kind of workplace harassment is not permitted. Sexual harassment is the most common, but other types of unwanted verbal and physical gestures are not acceptable either.
- Retaliation incident – If an employee speaks out against unpermitted behaviors at work and is consequently demoted or fired, they can file a claim.
- Wrongful termination claim – An employee can sue if they feel that they have been wrongfully fired.
While you hope you never have to use your EPLI policy, going without one could be devastating to your business.
Comprehensive, reliable insurance is critical for all businesses and organizations. For owners of nonprofits and other organizations that rely on volunteers, finding the right insurance to cover a large number of people in a nontraditional structure can seem complicated. Fortunately, there are two broad types of nonprofit volunteer insurance that can provide coverage for all of the individuals in your organization.
Coverage for Volunteers
Depending on where you are located, volunteers in your organization may or may not be covered under traditional workers’ compensation. Whether or not this coverage is provided, it is smart to have insurance coverage for your volunteers in the event of a work-related injury.
Coverage for Officers and Directors
A second type of coverage your nonprofit should have is insurance for officers and directors. This type of insurance will protect your organization in the event of a lawsuit, such as one related to copyright infringement, discrimination or wrongful termination.
Good, comprehensive nonprofit volunteer insurance will provide protection for both volunteers and permanent organization members such as officers and directors. By securing both types of coverage for your organization, you are looking out for your volunteers in case of accident or injury ,and looking out for your business should it be subject to legal action. With everyone protected, your business will run smoothly.
Whether you’ve owned your Texas home for years or are a brand-new property owner in the Lone Star State, having comprehensive Texas home insurance can make a world of difference in protecting your property. Purchasing your home was a big decision, and getting personalized coverage can help provide a safety net for unexpected events. As you look for the right policy, use these specifics as a baseline.
Look for Comprehensive Policy Structure
As a homeowner, the last thing you need is a skimpy insurance policy that doesn’t provide enough coverage. To make sure you’re protected in a wide range of events, look for a policy with a truly comprehensive structure. Some facets to include are:
- Liability insurance
- Payment for hotels or other housing during repairs
- Personal property insurance
- Property insurance in case of structural damage
Check for Weather Coverage in Your Plan
From dry, hot days to occasional tornadoes or hurricanes, depending on which part of the state you live in, Texas weather can sometimes throw homeowners for a loop. As you shop around, look for a policy that includes coverage for severe weather events. These can include everything from hail to a flood to an earthquake and more.
Owning a home in the great state of Texas is a significant investment, so it’s essential to make sure you protect it with Texas home insurance. The best policy for you is the one that provides your family with the specific coverage you need.
While casting a line off of a pier or shore is a fun pastime, there’s nothing quite like fishing on a boat. You’re in the middle of the action, ready and primed to catch that big fish you’ve been thinking about. Being out on the water is a different experience than fishing from the land and requires additional considerations and preparation.
Preparing for a Safe and Fruitful Excursion
Whether you’re fishing for fun or sourcing your next meal, it’s important to check for the following things before you set sail:
- Boat – Make sure your boat is fully functional, in good condition and properly equipped (e.g. anchor, lifejackets etc.).
- Weather – Check forecasts and look for conditions that are conducive to fishing and safe operations of your boat for the entire day.
- Fishing Gear – Make sure your fishing tackle and equipment are in good, working condition.
- Attire – Dress appropriately and comfortably for your day.
Generally, it’s best to do your homework before you set out. What type of fish are you hoping to catch? Are they available where and when you plan to fish? Being prepared can make all the difference between a successful and fruitless day.
Considering Other Details
You should also think about fishing techniques and employing modern technology in your hunt. Are you going “old school” or taking advantage of equipment such as sounders or temperature meters? These can also affect the outcome of your boat fishing excursion.
A lot of common questions about insurance come up again and again. When working on SEO for insurance agencies, answering these questions is a great way boost traffic and direct customers to your services. Here are three kinds of questions you should answer to maximize your search engine clicks.
Which Insurance Company Is Best?
When someone asks a question on Google, not much thought is typically given to precise wording or on which result to choose. This is why SEO for insurance agencies is important. If you can direct clicks to your website from basic questions like these, you can increase your traffic.
What Insurance Is Near Me?
Optimizing for local searches is also important for insurance companies. Almost 50% of searches are now done with a location criteria, thanks to Google. You can take advantage of this by developing your web content for targeted localities.
Will Insurance Cover…?
Knowing your product is as important as ever, so encourage web traffic through questions about your insurance offerings. New analytics show that getting your result in the “top 5” search positions makes all the difference. In fact, getting a jump from the 3rd result to the 2nd improves the click-through rate by 30%.
Answering these questions and prioritizing SEO for insurance agencies is the key to succeeding in today’s online marketing world.
Homeowners who allow their home insurance coverage to expire are at risk for the inability to pay out of pocket for repairs due to unexpected damage. This can prompt borrowers to default on mortgage payments, which may put lenders in a difficult financial situation. Here are three reasons why having additional lender placed hazard and flood coverage is essential for increased protection when homeowners’ coverage may lapse.
Residential and Commercial Coverage
Lender placed hazard and flood coverage is beneficial for residential, commercial and mobile home properties. Still, many policies will only pay claims for replacement values on residential properties and actual cash value for commercial properties.
Often insurers encourage lender placed hazard and flood insurance coverage or force place policyholders to add liability insurance for lenders with foreclosed properties. This insurance option is essential for many mortgage lenders’ Risk Control Plan when purchasing distressed loan assets.
Insured Individual Properties
Another added benefit to force place policies is the ability to insure individual properties instead of an entire portfolio. Additionally, this coverage charges the borrower for premium costs and reduces lenders’ expenses.
When borrowers let properties go uninsured, even for a short time, lenders increase their financial risk. This is why proper insurance coverage is essential to successfully conducting business long term.
When you run a nonprofit, you rely on your volunteers to bring your organization to life. Though your volunteers are the main workforce for your organization, your board of directors is responsible for making sure your nonprofit can stay around for years to come. These directors and officers need dedicated insurance policies to protect your nonprofit’s finances. A comprehensive nonprofit D&O policy will help.
The Hallmarks of a Great Policy
A comprehensive D&O policy works to protect your board of directors and senior officers from liability in the course of their duties. The right policy for your nonprofit should include the following characteristics:
- Protection for all past, current, and future staff members
- Liability coverage limits of $5 million
- Affordable deductibles
- Coverage for prior acts
- Customizable coverage options
- Coverage cancellation protection
Without these characteristics, the D&O policy will leave gaps in your coverage.
Why the Policy Matters
Without a nonprofit D&O policy in place, your organization is at risk for liability lawsuits that can put your operating budget in jeopardy. If a member of your staff, board of directors or even your team of volunteers acts inappropriately or causes damage to a member of the community, your organization is liable for the damages.
A comprehensive D&O insurance policy will help you cover those costs and protects you from paying out-of-pocket legal fees for every incident. If you don’t already have coverage, invest in a policy as soon as possible. This way, your organization will be protected at all times.