Most business owners are aware of the importance of general liability insurance. General liability coverage can protect a business from liability issues, claims, lawsuits, etc. What you may not know, however, is that a business’ rate and amount of coverage greatly depends on what “market” they fall into. Don’t know what a market is? Then you may want to speak to your insurance agent as soon as possible!
There are two basic markets of businesses when it comes to general liability insurance. A business will either fall into what is called the “Standard Market” or what is called the “Excess Surplus Market.” Those in the standard market are the businesses that get the lowest rates and the more comprehensive coverage. Examples of standard market businesses are technical companies, lawyers, doctors’ offices, etc. There is a set premium cost for general liability insurance with no finance charge for those businesses in the standard market.
For those businesses in the excess surplus market, however, getting general liability insurance is not as easy. Examples of excess surplus market businesses are roofers, siders, steal workers, etc. General Liability coverage for these businesses is very expensive and often has a lot less coverage (i.e. more exclusions) than those businesses in the standard market can receive. Excess surplus market businesses are also required to pay their premiums in full to their insurance company upon creation of their policy or find an outside financer to cover the immediate cost of their premium.
Business Owner’s Policies are pretty standard in the world of business, but what some businesses don’t realize is that there are many insurance agencies that can offer insurance programs specific to certain industries, occupations, etc. Industry/occupation specific business insurance is a lot more helpful than you may think. If you have an insurance agent and/or agency that has experience dealing with trade-specific insurance, you may get essential protection that you may not have even known existed.
For example, for garage owners/operators, arguably one of the most important types of coverage is liability. When are you are responsible for handling other people’s vehicles, it is extremely important to make sure you are protected in the case of accidents, repairs gone wrong, etc. When a vehicle is on a garage’s premises, the business is entirely liable and responsible for anything that may happen.
Purchasing Garage Insurance, sometimes known as Motor Trade Insurance, isn’t just for garages. Many different industries can benefit from purchasing Garage Insurance. This kind of insurance can offer specialized liability coverage to service stations, repair shops, auto dealers, valet businesses, parking lot services, storage garages, towing companies, etc. Typically, Garage Insurance covers these kinds of businesses from general liability issues (i.e. accidents with a vehicle) and from operations liability (i.e. mistakes by employees).
Although general liability is a must for most businesses, getting a liability policy specific to your industry/trade is the best idea. Believe it or not, there are insurance agents and agencies out there that know more than just insurance. There are agents out there that can truly provide a customized coverage for your business and have the real life experience to provide you with useful insight on your business insurance needs. Finding them may be difficult, but definitely possible. Even if you don’t purchase industry specific business policies, you still want to purchase insurance from someone who knows a thing or two about your occupation and trade.
Those in North Carolina should contact the Clinard Insurance Group for more information and a free quote on Garage Insurance! Clinard Insurance is an independent insurance agency that understands the needs of NC locals and can provide you with a personal insurance experience. We offer many industry specific business policies, such as used car dealer coverage, repair and body shop coverage, etc. Don’t be left with an agent that is clueless as to the needs of your business, contact us today and visit our virtual insurance office at www.clinardinsurance.com.
Homeowner’s insurance is a must have for anyone who owns or plans to own a home. Depending on the location of your home and the structure of your home, homeowner’s insurance quotes can be fairly high. There are a lot of ways that you can save on homeowner’s insurance; ways you may not even be aware exist…
Shop Around You may hear this one a lot, but it is an easy way to save some money on your insurance lines. Don’t go with the first quote you get, even if you think it may be the lowest offer. Shopping around can save you a lot of frustration down the line.
Purchase homeowner’s insurance from the same provider as your other insurance policies. For example, purchasing your homeowner’s insurance and auto insurance from the same company can save you money. A lot of insurance companies are now offering what they call “bundle rates” when you purchase multiple insurance lines with them.
Inquire about discounts when you have a new home. Many insurance providers offer discounts on homeowner’s insurance if you own a newly constructed home. Because new homes are mostly likely in better shape, in terms of structure, heating, plumbing, etc. than older homes, you can often get discounts on your homeowner’s insurance policy.
Implement security and safety features in your home. You can receive discounts on your homeowner’s policy for having things in your home such as smoke detectors, alarm systems, dead bolt locks, sprinkler systems, etc. Oftentimes the cost of putting such systems into your home is worth the money you save on homeowner’s insurance in the long run. Your insurance provider should be able to compare costs for you to see if installing these features would ultimately save you enough money to cover their cost.
Don’t smoke! Smoking doesn’t just affect your health insurance rates. Insurance providers can also raise premiums and costs of homeowner’s insurance coverage if you are a smoker. Smoking is a major cause of residential fires, which can ultimately cause you to pay big on your homeowner’s policy.
Purchasing homeowner’s insurance does not have to be a headache! Purchasing a home should be a joyous occasion, not a bummer. Those in North Carolina should contact Clinard Insurance, a local independent insurance agency who understands the needs of homeowner’s in the area. Visit our website at www.clinardinsurance.com or call us at 800.597.8194.
As a business owner and chief operator, you do everything you can to protect your employees from the potential dangers that lurk, but you’re not a super hero. Accidents can happen; in fact they do happen every day, especially in the workplace. If you own or run a restaurant and your head chef accidently has a finger sliced off, do you have enough coverage to make sure you can cover his expenses and protect your business from a lawsuit? Do you have enough coverage to pay court and legal fees should the chef sue? These are the kinds of questions you should be asking yourself, no matter what type of business you have.
The ways in which you should handle your worker’s compensation policy, claims, etc. will vary depending on the state in which you operate your business. It is important to pay attention to any state statutes that may exist in terms of worker’s compensation; you should know these things before forming your worker’s compensation insurance policy. Although worker’s compensation is not entirely required in North Carolina, if an employee gets hurt on the job, you could still get sued. Worker’s compensation is voluntary for domestic workers, but it is in your business’ best interest to purchase the coverage. A domestic worker can be a housecleaner, gardener, etc.
Business owner’s in North Carolina should contact Clinard Insurance for a free quote on a worker’s compensation insurance line. Clinard Insurance is a business based locally in North Carolina, so we understand your worker’s compensation needs. Visit our virtual insurance office at www.clinardinsurance.com or call us toll free at 800.597.8194.
Umbrella insurance is a commonly overlooked coverage for homeowners and property owners that could end up saving you a lot should you be faced with a lawsuit. Umbrella insurance can protect you from being liable if someone sues you for being hurt on your property or in your home. Umbrella coverage can also protect you from being liable should someone be involved in an accident involving your automobile, recreational vehicle, etc.
Although many auto, homeowner’s, and property insurance policies may cover liability if you are at fault in an accident, they usually don’t provide enough coverage should you be presented with a lawsuit as well. Umbrella insurance is an excess liability plan that can ensure that you will be protected from potentially crippling debt should someone sue you for an accident involving your home, property, vehicle, etc.
For example, if you are involved in a major car accident and you are at total fault, you could eventually owe a lot of money in hospital bills, repair bills, etc. Should there be other parties involved in the accident that decide to sue you, you could also accrue a large amount of debt in legal fees and court costs. In this situation, having an umbrella insurance policy can protect you from such costs once your car insurance liability coverage has been exhausted.
Umbrella insurance coverage is often inexpensive and an easy way to ensure that costs exceeding any liability coverage you may have are covered. Those in North Carolina should contact the Clinard Insurance Group for a free quote on an umbrella insurance plan. For more information, check out Clinard Insurance ‘s virtual insurance agency at www.clinardinsurance.com.
According to a recent survey, one out of every ten people will become disabled before the age of 65. Do you have a plan if this happens to you? Does your plan consist of relying solely on your Social Security, unemployment checks, and/or workers comp? We hope not.
First of all, not everyone qualifies for Social Security benefits, and even if they do, often you have to wait months before your benefits come through. And when it does come through, it barely ever matches income from your work.
The worst part? Those who rely on Social Security, unemployment, and workers comp will quickly find that these sources of income quickly run out, causing people to have to change their lifestyle in order to survive on these very limited methods. If you want to maintain your current standard of living, you should consider disability insurance.
Disability coverage replaces your income when you can't work as a result of a disability. You can choose a long- or short-term disability policy, and you must make sure you know if the policy covers both accidents and sicknesses. The more questions you ask, the better!
For more information on disability insurance, contact us today! We're Clinard Insurance, an independent insurance agency based in Winston-Salem, North Carolina.
When you go in to get business insurance at any agency, a good insurance carrier is going to recommend a BOP - a business owners policy. Don't get nervous and start wondering if the carrier is trying to scam you or make you buy something you don't need. A BOP is a package deal, combining several types of insurance you'll be needing into one. It's a money-saver and a time-saver.
Most BOPs can be tailored to your business's needs, depending on your area of work. But generally they will include the following:
Property insurance insures buildings and contents owned by the company, protecting them from such threats as theft, fire, or weather damage.
Business interruption insurance steps in when a business has to shut down temporarily due to an unexpected disaster (again, fire, theft, robbery). It will provide income so that the business doesn't get into trouble and can also include the extra expense of operating out of a temporary location.
Liability protection, which covers your company's legal responsibility for the harm it may cause to others. The liability can fall in the categories of injury through bodily harm or property damage through faulty products or accidents.
As said before, a BOP policy can be tailored, but these are the general coverages. For business owners, a BOP is the best way to be protected.
Before your teen begins driving, you should demonstrate for them how to perform a quick safety check of the vehicle. Now is a good time to have a brief discussion about vehicle maintenance. Explain basic maintenance items such as when oil changes are due and proper tire inflation. Verify that all lights and turn signals are functioning properly and free of obstruction.
Safety Tip: Minimum Gas Levels For emergency purposes, teach your teen to keep at least ¼ tank of gas in the car at all times. You don’t want them running out of gas in an unsafe area. Additionally, you will avoid the frustration of having to unexpectedly stop for gas when your teen has been driving your car.
Safety Tip: Hazard Lights Make sure your teen knows how to locate and turn on the hazard lights in each of your cars. Familiarize your teen with the location and operation of the vehicle controls. It’s very important that your teen is comfortable in the driver’s seat. Today’s newer cars are capable of adjusting the seat, mirrors, steering wheel, brake pedal, and accelerator. Review proper operation of the heater, air conditioning, cruise control, and wiper blades.
Safety Tip: Dashboard Gauges Explain the dashboard gauges and their purpose. Taking the time to explain the gauges will help maintain the vehicle in proper working condition. Furthermore, it may save you a large repair bill. After all, the time for your teen to understand the temperature gauge is NOT after the car has overheated! Another good habit to form is maintaining a mileage log. The log should detail the date, miles on the vehicle, the number of gallons of gas added, and the miles per gallon obtained on the prior tank of gas. With many cars, you can do this automatically by teaching your child to reset the gas mileage counter after each fill-up. When the gas mileage decreases, it’s an early warning signal that the engine needs maintenance. This is very important for your teen to know.
Safety Tip: Changing Tires I strongly recommend that you have your teen change a tire before he/she obtains their license. With the prevalence of cell phones, many parents assume their teen can call them or AAA for assistance. But depending on the location and time of day, it may take 2-3 hours before assistance can arrive. Also, be sure that your teen understands how dangerous it is to change a tire on the highway.
Safety Tip: Tire Jacks Can KILL! Practice with your teen the proper use and “placement of the jack.” People actually die from this every year. Don’t forget to show them how to chock the tires.
Safety Tip: Emergency Kits Maintain an emergency kit in the trunk complete with flares, a flashlight, and batteries. Practice lighting flares with your teen.
Insurance Tip: Roadside Service is part of the Teensurance Program from Safeco. Help will be dispatched to help change tires, or even deliver gas.
We’re Clinard Insurance, an independent insurance agency based in Winston-Salem, North Carolina. For more information on teen driver insurance, contact us today!
Nearly everyone is having to deal with the money strain right now – most of all, those with families. People are pinching pennies wherever they can, some even on their home and auto insurance. While there are ways you can save on insurance policies and receive discounts, the answer is NOT to skimp completely on your insurance. It could end up costing you more money that you don’t have.
Some people are actually cancelling their auto insurance policies, but besides breaking the law (if they plan to continue driving, that is), they are making a huge mistake. One small accident on the road could cost them thousands without car insurance.
If you’re interested in keeping your auto insurance but want to trim the fat of it, here are a few tips:
• Ask us about combining your auto policy with other types of insurance you may have with us, like home insurance or teen driver insurance. If you have different coverages at another insurance company, you may be able to save by switching to our company and combining.
• Ask us to make sure your policy is updated. Small things that you may have changed in the last few years could help you lower your premium.
• Increase your deductible.
• Have us look into any discounts you may be eligible for, such as good student discounts, safe driver discounts, loyal customer discounts, retirement discounts, and safety feature discounts.
• Clean up your credit report. It factors into whether a company is willing to insure you, and at what rate.
Auto insurance is never something to abandon, even in hard financial times. It’s a friend rather than an enemy. Remember that your vehicle gets you from A to B and everywhere in between; it’s important to protect it, yourself, other drivers, and your finances.
Clinard Insurance is an independent insurance agency in Winston-Salem, North Carolina. To learn more about auto insurance, contact them today.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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