Tag: Business Insurance 2

Keeping Coverages Current

A home and its contents frequently represent a major portion of a person’s net worth. Failure to keep coverage current could result in a claim not being covered. Whose responsibility is it to maintain adequate insurance coverage? When all is said and done, it is the policyholder’s responsibility to review the policy regularly and inform his/her agent of any needed changes. Your agent can search through the maze of complex coverages, advise you...

Commercial Property Coverage

Coverage under the commercial property (CP) policy is for property only. A separate policy form provides liability. The CP policy covers buildings, the insured’s personal property, and under certain circumstances, personal property of others. For coverage to apply, there must be a limit shown in the declarations for that type of property. Insurance contract interpretation relies on meanings disclosed in common usage dictionaries, unless the...

Should You Use a Property Management Company for Your Rental Properties?

Rental property is a big investment, and you want your investment to be profitable. That’s why during certain situations it may be in your best interest to hire a Property Management Company (PMC) to manage your rental property. A PMC might be helpful in the following scenarios: if you live a significant distance from your rental, if you have several properties, or if you’d simply...

Business Income Coverage

Calculating the appropriate business income limit does not have to be a mind-numbing process. To understand business income coverage limits, you must simply understand that the coverage is almost entirely based on time. The amount of coverage and the correct coinsurance amount can be calculated once a reasonable estimation of the time necessary to return to full operational capability is determined. Four key objectives must...

Slip and Fall Claims

One-third of all workplace accidents are the result of slips and falls, averaging a little more than 500 deaths per year. Some of these injuries are to employees who then claim workers’ compensation benefits, many times exaggerating the injuries. Sometimes the employee will actually be hurt playing football on Sunday, yet file a work-related injury report on Monday. A common problem for every business that...