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Category: Insurance

4 Factors That Determine Aviation Insurance Premium

4 Factors That Determine Aviation Insurance Premium

There’s nothing more appealing to a sky-gazing dreamer than the idea of flying off into the blue in an owned airplane. While many people choose this adventure as a hobby or even a profession, they may not be aware of the intricacies of owning and maintaining an aircraft, including purchasing aviation liability insurance coverage. It’s important to realize that four factors impact the premium of aviation policies. Deductible As with all insurance, a higher deductible will translate to a lower…

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What is Rideshare or Transportation Network Company Insurance?

What is Rideshare or Transportation Network Company Insurance?

Starting a new job with a rideshare company like Uber or Lyft is exciting and can seem very simple. An interview, a bit of training and you’re out there making money with your own car; however, it is important that you update your auto insurance to have ridesharing / tnc coverage. What Is Ridesharing / TNC Coverage? Your standard auto policy does not cover you when you are using your car for work. Rather than getting a full commercial auto…

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Why Workers’ Comp Coverage Will Make or Break a Staffing Agency

Why Workers’ Comp Coverage Will Make or Break a Staffing Agency

Like any business, staffing agencies require insurance to protect their interests and their employees. Staffing agency insurance companies exist to provide the industry with stress-free insurance solutions. Workers’ compensation is the most well-known insurance policy that employers are expected to provide. Temporary staffing is a service built entirely around an agency’s workers, so quality workers’ comp coverage is an absolute must. What Is Workers’ Compensation? Workers’ comp protects businesses and workers by giving employees certain necessary benefits in the event…

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How Liability Insurance Protects Small Businesses

How Liability Insurance Protects Small Businesses

One reason some small businesses have survived the roller-coaster economy is that the owners were forward-thinking enough to protect their assets with small business liability insurance. Here are some of the ways this coverage helps them manage unforeseen incidents. Protects From Lawsuits Those new to running a company are often naive to the possibility of lawsuits. Unfortunately, being sued is a commonplace occurrence that can bankrupt a small business if it is not prepared to go to court. Liability insurance…

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3 Things To Know About Vessel General Permits

3 Things To Know About Vessel General Permits

Just like other transportation methods, vessels are subject to environmental regulations that police the amounts and types of pollutants they discharge. The EPA now requires that all vessels carry a vessel general permit in order to continue to operate. 1. What Is a Vessel General Permit? A vessel general permit, or VGP, controls emissions such as bilge and ballast water, graywater, and deck runoff. Owners must maintain permits by keeping records of all waste and subjecting their vessels to regular…

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Choosing Property and Liability Insurance for Your Business

Choosing Property and Liability Insurance for Your Business

Business owners understand how important it is to have proper insurance coverage. They want a policy that protects when a catastrophe strikes. They also need liability coverage if someone is physically hurt on their premises or financially damaged by decisions made. What Business Coverage Is Best? Both business property and liability insurance are a must for every business owner. Talk with your insurance agent about the plan that best meets your business model. Business Property Insurance Business property coverage, also…

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What Expenses Are Included in Processing Insurance Claims?

What Expenses Are Included in Processing Insurance Claims?

When an employee is injured while working on your company’s property, they will file a workers’ compensation claim. The insurance covers medical bills and a portion of the employee’s salary while they are recovering. There are other expenses related to the claim as well. What Are Claims Handling Costs? The claims handling expenses are those costs that are a result of the claim being processed. These expenses include preparing and handling the paperwork associated with the claim. Registration fees and…

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The Basics of Boat Builders Risk Insurance

The Basics of Boat Builders Risk Insurance

There are many risks involved in the industry of boat building. In order to protect your business and employees, you absolutely want to dedicate time and effort to finding an acceptable insurance policy. Though it might seem like a straightforward journey, there are a number of unique risks inherent in this niche field. To fully protect your business, you need to consider a few key points related to your field. Assess the Risks Whether you operate a business in the…

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A Short Guide To Professional Liability Insurance

A Short Guide To Professional Liability Insurance

If you run a business that is responsible for providing professional services or giving advice to clients, you should be aware that you face a substantial risk of falling victim to a lawsuit for negligence. Lawsuits of this nature can cost you immense amounts of money and can even cause you to go out of business if you don’t have the funds available to keep you afloat. Luckily, professional liability insurance can help cover these costs. What Is Professional Liability…

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What Does Medical E O Insurance Cover?

What Does Medical E O Insurance Cover?

Errors and omissions insurance is a type of liability coverage that protects companies from the financial burden of lawsuits that might occur when they make a mistake. In the medical field, some people refer to it as malpractice insurance. Here is what medical E & O covers. What Does Medical E & O Cover? All types of errors and omissions policies pay the cost of going to court to defend yourself from a claim that you or your employees made…

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