Posts Tagged "houston insurance agent"

Five Tips to Shop for Commercial Insurance

Posted by on Jul 17, 2015 in News | 0 comments

A type of insurance called commercial insurance is a plan designed uniquely for your particular business. There are four main categories of coverage when it comes to commercial insurance, these include: property insurance, general liability insurance, commercial automobile insurance and umbrella insurance. You should know these five tips before you start shopping for commercial insurance for your business: Shop, Shop, Shop and Evaluate Value When it comes to finding the best choice for your commercial coverage, evaluating policy prices is an essential element as long as your decision is based on value and you’re not just focusing on the price. Educate and do Your Homework A one-size-fits-all policy will not magically solve your commercial needs because your coverage requirements depend on a number of variables. Do you own your own property? Do you have customers who come to your work site? How many employees do you have? Do you have vehicles to cover? How many vehicles are over the road? What is the total number of autos you use? What are these vehicles used for? What kind of inventory do you have to carry? Is there any special equipment you have to maintain? Understanding the type of coverage needed will help keep costs down on the policy you choose. It is important to only purchase coverage that best fits your business and industry. Conduct a Risk Management Audit Before you begin shopping or working with an insurance agent, is there something you can do now to lower your current risk? This could help save you money on your premium because the insurer will take note of your efforts of managing risk within your business. Clean Up Your Credit It’s a fact; those with the highest credit score prove to be a lower risk therefore rewarding them with the lowest premiums so pay your bills on time and monitor your total debt load. Beware of Over Insuring If you don’t need it, don’t buy it! How much insurance your purchase depends on the area of risk that you’re seeking to mitigate and sometimes insurance isn’t the best solution. It’s always best to consult with a risk advisor to determine the most valuable and cost-effective solution with the best coverage to protect your...

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The World is Growing Riskier According to Most Americans

Posted by on Jun 9, 2015 in News | 0 comments

Via our partner company, For the second year in a row, the Travelers Consumer Risk Index has found that six in 10 U.S. consumers feels the world is growing riskier. Leading concerns include distracted driving, financial risks and identity theft/personal privacy loss. Millennials, those aged 18-34, are most likely to report feeling that their risk level is low, compared to older age groups. Take a look at this infographic for more...

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It Just Takes One Accident to Place Your Entire Business at Risk

Posted by on Jun 4, 2015 in News | 0 comments

The threat of a lawsuit is around every corner and the unfortunate reality is that it is inherent with every employee you hire, customer you serve, or client you sign.  There is some part of your business that leaves you exposed to a lawsuit bankrupting both you and the company no matter how small your business is. With that being said, I wanted to provide reasons why every business needs to protect itself against risk with the proper types of insurance – here are seven: It Just Takes One All it takes is one accident – a broken contract – a disgruntled worker – to place your entire business at risk. Let’s say your company gets sued for negligence – even if you win, it can easily put you out of business simply because the cost it will take to mount your defense. Personal Injury Happens You are open to personal injury liability claims every minute of every day if you own property where customers come to do business. If they happen to fall on your business premises and you’re not insured, you are liable for medical bills, lost wages, pain and suffering and other expenses that will come out of your own pocket. A Flimsy Corporate Shield Many small business owners use a “corporate shield” thinking that they have protected their personal assets from any business liability claims or judgments. This is far from the truth and there are circumstances where that protection doesn’t stand up in court. Without business insurance, you could literally lose everything you own. Thinking Exclusions Apply Any employment liability claims may be excluded from a general liability policy. Property loss may be excluded if you have a commercial liability policy. And it is unlikely that your business assets are covered if you are a home-based business owner with homeowner’s insurance. Losses beyond Your Control Would you be able to replace them today and get back to business if you walked in tomorrow to find your office had been robbed and every computer was gone?  If you don’t have insurance to help replace what is lost, losses from theft, natural disaster, and other accidents could bankrupt your business. Reckless Driving Accidents Happen Most business owners believe that the auto insurance policy that covers their personal auto will cover them if they are driving their car on company business.  You could find yourself paying for someone else’s pain and suffering out of your own pocket for the rest of your life if this isn’t true and you are in an accident where you’re at fault. Depending on Other People’s Insurance Let’s say that another person causes an accident which ends with a car coming through the front window of your storefront and destroying your merchandise. Their auto policy – if they have one – might cover some of the damage and replace products but it might not cover or provide enough coverage to compensate you for lost income while the shop has to be closed for repairs. Waiting until something happens or procrastinating while you figure out whether or not you can afford to purchase business insurance is never a good option – the real question is – can you afford not to insure your business? Contact me today for a free...

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Insurance Planning for Your Home-Based Business

Posted by on May 20, 2015 in News | 0 comments

For many, achieving the American dream comes with the freedom of operating a home-based business. But without proper insurance planning, even the most promising dream can quickly turn into a nightmare. Blurring the lines between home and work can have unexpected and costly impacts on all types of personal insurance, says the National Association of Insurance Commissioners (NAIC). To avoid costly impacts, the NAIC recommends home-based business owners consider these personal insurance implications: Home – Homeowners’ or renters’ insurance policies are rarely adequate for business needs. Owners may want to investigate a business owners’ policy or general liability, business property and business interruption/continuation insurance. Auto – If you own or lease a vehicle almost exclusively for business use, list the business name as the principal insured. Consider also increasing coverage to protect permanently attached items, such as a generator or storage unit. Health – There are a variety of sources for purchasing HMOs, PPOs, EPOs and other popular health insurance plans at group rates. Under the Patient Protection and Affordable Care Act (ACA), business owners and the self-employed who purchase coverage through new health insurance marketplaces may qualify for tax credits. Life – If the home business is a partnership, consider key person life insurance which names each partner in a business as beneficiary on the other partner’s policy. If one partner passes away, the other can use funds to buy out heirs, pay off loans or continue operations....

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Summer is almost here and so is Boating Season!

Posted by on Mar 30, 2015 in News | 0 comments

Can you feel it? Summer is right around the corner and so is boating season! Is your boat adequately protected by boat insurance? Whether you’re a fisherman, skier, or just love taking your boat out away from land for a swim, boat insurance is a must-have! If you have recently purchased a boat, you were required by the lender to carry liability and physical damage on the boat – however – some people pay cash and just assume that their homeowner’s policy will provide the necessary coverage. That is definitely not the case! There is a need for a separate boat policy because it is unique in the coverage it offers. Keep in mind that you can get a discount if you insure your home, auto and boat with the same provider. If someone is injured on your watercraft or there are damages to third parties caused as the result of a boating accident, you’re a boat policy provides coverage for liability. Coverage is also available for uninsured boaters and personal injury protection or medical payments (depending on your state). Comprehensive and collision coverage can also be included. Some personal effects coverage for fishing equipment and other personal property you keep on the boat is also covered under the policy. When you purchase comprehensive and collision, towing and labor coverages are also available. You should be aware of “lay-up” periods that your insurance company may put on your policy since a boater’s policy is different from a home or auto policy.  The “Lay-up” period means that coverage is suspended for specified periods when you’re not using your boat. Unbeknownst to you, you may innocently answer a question on an application stating that you don’t use your boat from November 1 to March 1 – and then – one day you take your boat out in November and have an accident. You call your insurance agent only to find out that you don’t have coverage. I would suggest for your own peace of mind, to have a boat insurer that covers your boat year round with no “lay-up” periods listed. Now, let’s discuss another important liability issue to be aware of – transporting your boat on a trailer. What coverage is provided while you’re transporting your boat on a trailer? Your vehicle’s liability insurance is the policy that provides coverage because it’s attached to a vehicle and transported on land. Let’s say your boat becomes detached and causes property damage, bodily injury or God forbid loss of life. These coverages are limited to your auto liability limitations. This is why I suggest having an umbrella liability policy that extends over your auto and boat because if damage is caused while your boat is being transported, there is an additional layer of coverage over your auto insurance limits. You are also protected by this additional layer of liability on the water when you add the extended coverage. Make sure to pay attention to navigational limits placed on your policy. Specifications should state inland waters of the US and Canada or coastal waters of the US and Canada. Depending on the carrier and the type of boat, these navigational limits will vary so make sure not to navigate your boat into excluded waters that have security and political risks. Is your boat insured? Now is the time to either review your existing policy or purchase a new one to make sure that you’re covered during this summer’s busy boating season. Give me a call – I’ll walk you through the...

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