All articles in General Articles

General Articles are articles with information pertaining to all different types of businesses.

How Do You Protect Yourself if You Are Self Employed?

Most business owners will purchase a general liability policy to protect themselves in case of a lawsuit which is a … More How Do You Protect Yourself if You Are Self Employed?

What Type of Insurance Does My Business Need?

 

What type of insurance does my business need?

Party Rentals
General liability
Umbrella
Non owned auto
Property
Inland Marine
Commercial auto
Workers Compensation
Assault /battery

Indoor Bounce Centers
General liability
Umbrella
Non owned auto
Property
Inland Marine if property leaves premises
Commercial auto
Workers compensation

Additional coverage’s
Employee dishonesty
Sexual Abuse,/ Molestation
Assault /battery
Money inside/outside Continue reading What Type of Insurance Does My Business Need?

How much Life Insurance do I need?

Life Insurance: How much do I need?
Life Insurance: How much do I need?

Well, that question has so many answers that would take a novel to answer! So I will do it in layman’s terms. The life insurance industry says 7-10 times your annual income is the minimal life insurance amount you should have. So if you make $35,000 per year you should have $245,000 – $350,000.

Now you look at if you have a mortgage, any car loans, any student loans, any credit cards and you start with that total. Then you add on if you have children, if you plan to help with college for them, if you have any business debt. If you have never figured in the value of a wife you have a HUGE eye opening experience, that is another article for a later date and time. Continue reading How much Life Insurance do I need?

10 Tips on Catastrophe Claims

If your property is damaged by a hurricane, tornado, hailstorm or similar disaster, here is what you should do to assure quick handling of your catastrophe insurance claim.

  1. Assess the damage to the best of your ability and be prepared to give an accurate description of the amount and type of damage. Make sure you state whether the premises were rendered inhabitable as a result of the damages. This will allow your company to send out an adjuster with the appropriate level of experience, based on the level of damage.
  2. Notify your insurance agent as soon as possible. The insurance contract requires notification as soon as possible after a loss. Be sure to leave a telephone number where you can be contacted and a complete address of the location so the company can get an adjuster to the scene quickly. Be sure to stay in touch with your adjuster and respond to calls promptly. Catastrophes can generate hundreds of claims, so communication and cooperation is vital for a quick resolution to your claim. Continue reading 10 Tips on Catastrophe Claims

What does your customer service say about your company?

I had my employee who is a techy guy do some research last year for a great amp and sub for my boat, gotta have my thumpin. He found that JL Audio has one of the best amps and we ordered it online from www.woofersetc.com in California the end of July 2009. I received it a week or so later and have it installed and the amp cuts out after 15 minutes of playing. I call the company back up and describe my challenge and he says that it must be my installation, bad ground, or too small of wire. I explain that the wire kit was from him, and that the installer has 10 years experience. He says to have him recheck everything. Had it rechecked and same results, called them back again and I am told it must be my batteries. I replace both batteries in the boat, same results. I call them back again and am told it might be my speakers, so I replace them, same result. Call rep at Woofersetc.com again and am told that it sounds like the amp is going into protect mode as it its overheating. They still deny it is the amp, it must be the stereo or back to the wiring. Continue reading What does your customer service say about your company?

Commercial Auto Insurance…Do I really need it?

Commercial Auto Insurance...Do I really need it?
Commercial Auto Insurance…Do I really need it?

Over the years I have reviewed several insurance policies.  One of the most overlooked coverage is the Commercial Auto Coverage because people will assume that they have coverage under their personal auto policy (PAP).  Several people today start their own businesses on the side besides their normal 9-5 job to either provide a better lifestyle or to get away from their current job.  They are using their own personal vehicles in these businesses without reviewing their personal insurance coverage.

Most PAP policies are designed and rated to provide coverage for people that drive to and from work, 5 days per week, leaving their automobile parked outside that job for 8 hours and then go home.  There are exclusions in the PAP and one of them is for business use.  There is an endorsement that can be added that provides business use for professionals like attorney’s, insurance agents, and realtors who use their cars in their business.  There is an extra charge for this and is not included under the normal policy. Continue reading Commercial Auto Insurance…Do I really need it?

Safety and Security questions you might not want to hear!

What does safety mean to a family fun center?  Oh­, boy you should not have asked me this question. This could be a two day seminar, not an article. This article is not for the weak, or timid.  The questions below should be read only after taking some Pepto Bismol or something equivalent.  I am not just an insurance broker, I owned a family fun center with paintball, go karts, inflatable’s, soft play, bumper boats, batting cages, arcade, food, birthday party rooms, and a parking lot.  I understand the exposures that you will face in maintenance and repair of all of these exposures and will share with you some of the questions you need to be asking yourself and your staff in the daily operations of your facility.  Put your helmet and seatbelt on, this will be a bouncy ride! Continue reading Safety and Security questions you might not want to hear!

Do I need product liability insurance?

Do I need product liability insurance?
Do I need product liability insurance?

Do you need product liability insurance?

Are you a manufacturer, distributor, supplier, or retailer who makes products available to the public?  Then you are held responsible for the injuries those products cause.  Product liability insurance will protect you if you answered yes to the question above.

Product liability refers to the liability of any or all parties along the chain of manufacture of any product for damage caused by that product. This includes the manufacturer of component parts (at the top of the chain), the assembling manufacturer, the distributor, the supplier, and the retail store owner (at the bottom of the chain). Continue reading Do I need product liability insurance?

Do I really need Disability Insurance?

Do I really need disability insurance?
Do I really need disability insurance?

A lot of people are hesitant to get disability insurance, because they’re not sure if they’ll ever come across to using the benefits of the coverage. To help better understand the importance of having disability insure, here’s a scenario to help you.

SCENARIO:

You’re on your way to work this morning and somebody runs a stop light and hits you broadside and you find yourself on the way to the hospital in an ambulance. After spending 8 to 10 hours in the emergency room you find out that you will be okay after a few months in a cast as you have a broken foot. To compound issues more you have a broken right collarbone and right ribs. Then for good measure we will add them a broken left thumb. Continue reading Do I really need Disability Insurance?