Category Archives: Business Insurance

Steps A Business Should Take After A Disaster At The Premises

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Creative Commons License photo credit: Tom Cuppens

A disaster at your work premises like fire or flood can be absolutely devastating. A catastrophe like this takes no prisoners and can rip through your stock and the fabric of the building in a matter of minutes. In the aftermath you will be face with the prospect of the clean up, sorting out your staff, the insurance claim itself and trying to keep the business afloat whilst there is form of income coming into the business. Juggling all of these roles and jobs can be a near impossible task and one that can drain you mentally.

There are a couple of steps that you would normally take when making your claim – which you will go through briefly here. There is also one step that you may not be familiar with but can help you considerably in getting the claim that you deserve.

Step 1: Report the incident to the policed. Obviously this is the obvious first step that you would take – you may not even have to make it if the police were involved at the start of the incident.

Step 2: Here is the step that a lot of businesses miss (or have at step 3) – contact a loss assessor.

Step 3: Contact your insurance company.

You will notice the emphasis placed on getting your loss assessor involved early on in the process. Your insurance company is a business like any other and the loss adjuster that they appoint to your claim will be ensuring that they pay out the minimal amount of money in the claim – which is not what you want for your business. Getting the insurance loss assessors involved early on will ensure that all bases are covered and that you have fair representation in the claim. Without the input of a loss assessor you and the business will be expected to deal with all aspects of the claim yourself, from paperwork to liaising with the insurance company over the payout. With all the work and stress around just getting your business functional again this is often the straw that breaks the camel’s back for a lot of smaller companies.

Employing the right loss assessor is crucial and there are a few things that you should be looking for. You need to know whether you will be able to pay after a reasonable settlement has been made by the premises insurance company – you don’t need to pay out for a substandard job. You need to know the level of involvement the assessors will have – will they deal with all the paperwork and liaising, will they help organise contractors?

Most businesses fail to get a fair settlement due to mistakes that are made at the start of the insurance claim process – don’t wait until it happens to your business to find out what you have to do when dealing with an insurance claim for a major disaster.

Courier Insurance for Motorcycles and Vans

Creative Commons License photo credit: Alberto..

If you are driving around UK roads every day of the year, your chances of having an accident or being subject to damage or theft are far higher due to the increased use. It is a well known fact that courier drivers are working in high risk environments, so it is essential that you invest in adequate courier insurance.

No one enjoys spending their hard earned cash on insurance premiums but although it is a legal obligation for any driver, as a courier, it is even more important to protect you and your business. Van and motorcycle couriers need to have a specialist policy in place, a conventional policy will only protect you in the event of an accident etc. it will not provide any cover for your business. It doesn’t matter whether your business has been established for years, or you only began operating last week, it is imperative that you invest in courier insurance.

There are a number of things you need to consider when looking to purchase courier insurance, most importantly the level of cover you require. Similarly to conventional van or motorcycle insurance, you can simply opt for third party. However, if you are looking to run a successful courier business, chances are you will need a more comprehensive level of cover.

• Would you need an emergency replacement van or motorcycle in the event that your vehicle is damaged or stolen?
• Would the goods you are transporting be insured should something unexpected occur?
• Would you have the cash to replace all the tools in your van should it be stolen?
• Would you be letting clients down if you broke down and has no assistance to get back up and running as soon as possible?

These are just a few questions that you need to ask yourself before choosing a cheaper policy over a practical one. By ensuring that you incorporate additional features such as breakdown assistance, goods in transit insurance, public liability insurance, you will be protecting yourself and your business from any unnecessary expenses.

By opting for a basic level of cover, you could end up having to pay compensation, repairs, and costs of replacing vehicles and stock out of your own pockets. If you operate a courier business, you need to have adequate courier insurance in place to provide protection for yourself, your business and your staff. You cannot hope to operate successfully or legally for that matter, without the right cover in place.

Hotel Insurance – Different Kinds Of Insurance For Hotel Owners

Hotel insurance is purchased by proprietors and managers of hotels to shield themselves against different kinds of liability in regards to guests that lodge at their particular hotel.  Generally there are many different types of coverage you’ll be able to find for your hotel insurance based on where exactly your hotel is located as well as the needs you might have.  The very first classification is known as the property section.  Varieties of coverage in this particular class includes flood and related cleanup costs, wind, earthquake, crime, boiler and machinery, business disruption, and also builder’s risk.  Very similar to having a home, you need to secure your assets as a hotel owner who could experience any or all of such predicaments.

Yet another division of hotel insurance coverage is the casualty area.  This incorporates areas of coverage like business automobile, alcohol liability, excess liability, umbrella coverage, pollution-related liability, and general liability.  This helps hotel proprietors and operators provide protection for their esteemed guests.  Then, on the other hand, there is employment practices liability hotel insurance coverage which protects you against claims made by guests in the event of punitive damages, dismemberments, or accidental death.  Depending on what amenities are available in the hotel, you may want some types of specific insurance coverage.  For example, should you have an exercise area, coverage in the event of injury might be necessary.  Should you employ a pool, you need a more comprehensive plan that insures accidental drowning.

Workers compensation is available along with hotel insurance to protect employees that actually work in the hotel.  After all, a hotel is really a business and your insurance coverage should provide protection for those people who work for you.  The degree of coverage and the precise combination you decide on is determined by what kind of hotel you run, exactly what amenities are available, and where the property is actually based.  All in all, you can have insurance coverage to guard you against many different kinds of damages.

Before you purchase hotel insurance, you certainly want to know about the discounts you might be entitled to.  If you have a current safety program, together with appropriate safety devices and an evacuation plan, you could really benefit from a discount.  Also, if the employees are trained in basic safety techniques, if the hotel’s finances are in the black, and if the structure itself is new, there exists a lower chance for issues of safety.  This could cause a discount for you should you use the right firm in your area that has your best interest in mind.

A Checklist For Car Insurance Quote Comparisons



How do you keep your motor insurance rates manageable? The very first thing you need to realize is always that it does not happen automatically, but rather it is up to you to spend time and energy required to check on it. Research has shown how the people getting the best deals on motor insurance check it out one or more times a year to make certain that the rate they got last year remains to be the best deal currently available, since they grasp that things change constantly.


But when you are checking around, first thing you need to do is be certain that you’re comparing apples to apples. If collision insurance is included in your quote, an insurance plan with a $100 deductible will probably cost significantly different than a policy using a collision deductible of $500. To your liability damages coverage, a policy with a ceiling level of $150,000 is going to cost a great deal less than a policy from another company with a liability damages ceiling amount of $400,000.


Speaking of collision coverage, can you even want it? If your car is paid off and you also do not owe some thing on it with a finance company, then you’re not required to transport collision insurance, which is a rather expensive component of a car insurance plan. If you are driving a lease car otherwise you are still making payments about the car in your bank or the dealership, then you are required to carry collision insurance, which serves to protect the interests of the people who really own the automobile until you get it paid off.


What else can you do to minimize your vehicle insurance? Check with the companies where you stand doing your cost comparisons and find out when they offer additional discounts if you have multiple cars insured using them, or should they offer more discounts when you have more than one kind of insurance with them, say as an example your home owners insurance or your renters insurance. In that case, continue to do your analysis though! There’s no sense saving $50 on your own car insurance in the event the rate to also insure your property with that company increases $300, so make sure to compare all aspects of it.

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All About American Life Insurance Company




The American life insurance company can be known as the AIG. Over four million Americans make use of the AIG for their insurance needs. They’ll use the policies for their business as well as private needs. However, make sure to take a look at the financial ratings with the company before you purchase a policy from their store. The many independent financial ratings watchdog companies would act as your consumer reporters.


Kind of Insurance Policies


Life insurance coverage is primarily of two kinds: The word and the life insurance coverage. The term indemnity last limited to a couple of years that’s till the word lasts. The premiums need to be paid current, so that you can claim the payment. The policies are usually based on the age and the amount of coverage required. The harder the age as well as the coverage, the more will be the premium amount. People generally prefer life insurance coverage as it provides covers for lifelong but for a much higher premium rate.


Standing of American Life Insurance Company


Always think about the financial ratings with the e company before you buy from them. The American company has consistently been graded A++ for the past few decades. This proves its worth on the market. The history with the company dates back several decades. Since that time the company not just changed its name but additionally bought another company. The organization offers its employers free insurance and is very focused on the insurance needs of their workers as well as other clients.


Choices Provided by American Insurance coverage Company


* Term insurance offering the lowest rate.

* Universal coverage or the whole life insurance.


The policy starts providing you with money even before you die. This helps you pay bills in case of emergencies. It eases out your cash pressure upon retirement and more importantly also provides a life indemnity policy in case of death.


There policies are often available in all of the states of the U.S. So, have a look at and see when they are also available where you live. Because the company is an age old company, every one of the settlement issues may also be settled quickly. The company is dedicated to serving the requirements of today’s market. It offers focused and supportive way of provide a secure future for many its customers, as well as fulfills almost all their financial needs. The solutions are also backed up by excellent personalized customer support. So, it might be a good idea to get your policy from your American life insurance company.

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What Are The Different Types Of Auto Insurance?



There are a number of different forms of auto insurance that are offered to drivers. In america, auto insurance is mandatory and not a choice. However, drivers can enjoy a number of varying insurance offerings to be able to allow them the flexibleness in cost and coverage they are looking for using their insurance company. Not every insurance companies offer the varying forms of coverage, therefore it is very important that you should check with your company to learn the limitations of what they’ve to offer you.


Liability coverage from an auto insurance company covers the damage occurring to other drivers as a result of your actions. There are many different levels to liability coverage. First, bodily injury liability will take care of the cost of someone else’s medical costs or death if they are hurt within an accident which is found to be your fault. If an individual in an accident files an incident against you because of the accident, liability coverage can provide you with some legal defense. You want your liability to ensure that if a claim is brought against you, you have enough insurance to pay for a judgment without involving your own personal finances or assets.


Property damage liability covers the expense of repair or replacement once you damage another person’s property in a accident in the event the accident is known as your fault. Insurance collectively referred to as comprehensive and collision coverage will cover the cost of repair or replacing your vehicle in the eventuality of an accident. In some instances, the coverage may also cover the cost of another vehicle if you are not driving your own when the accident occurs.


Comprehensive insurance policy can also cover the cost of your vehicle if your car is stolen, damaged by animals, a fire or flooding. Specific coverage is restricted to the terms and conditions set forth inside your insurance policy; therefore, individuals have to check with their insurance company for details inside their policy.


Underinsured motorist property damage covers the expense of repairs if the negligent party possesses insurance, however the limitations of which would not be enough to fix the damage caused. Underinsured motorist bodily damage covers the medical costs to suit your needs, members of one’s household and passengers within your car if the insurance with the negligent driver does not cover the entirety from the amount needed. Uninsured property damage protects the car of a one who gets into any sort of accident with a negligent driver would you not have insurance.


Uninsured motorist bodily injury protects insurance coverage holders, members or their household and passengers in their vehicle from medical costs or perhaps the costs of death. This policy will be relevant when an no-fault driver does not have insurance. Only twelve states within the United States offer no-fault insurance, where insurance plan is covered on the part of the policy holder regardless of whose fault the accident could be. This means that your vehicle or bodily damage will probably be covered by your own insurance, whether you are the negligent driver or otherwise.

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Insurance Career Agents Tortured By Infamous 100 Man List For Insurance Sales Prospecting


What a painful approach to begin a career like a life insurance agent. That of a cruel way to scramble the agents thinking process. What a distressing method to demoralize the new insurance career agents selling abilities. The promoter, enforcer insists here is the sole proven solution to initiate a productive quick start.


Who is the dictator of punishment? It is none other than your Insurance carrier Career Term life insurance Sales Manager that hired you. Firstly you study for the state insurance exam and get the canned insurance company’s sales presentation to memorize. Your sales manager is kind enough to supply a 50 page binder of company endorsed colorful pictures and information. He remarks this really is his personal copy. To you it looks almost brand-new.


License exam graduation, your presentation, and 100 man list will launch your $100,000 income. You bet the traditional bull talk you have to follow company directions, detail by detail, word for word.


Now you are excited, confident, and possessing your official state insurance license. Yet another step, complete the 100 man list. You might be told that “All” successful life insurance agents start in this way. You have 6 days to complete this sheet, while mastering the organization speech and presentation. You know your spouse how helpful everyone is. Vacation this year can be their first day at an island Also you expect shortly being watching that new 60 inch television you imagined owning.


Time for you to start the journey, get a 100 man list. You’re told here’s your golden insurance sales prospecting list. It looks simple enough and no directions attached. Fill in each line with people’s names, addresses, phone, and just how you know them. Asking the spouse for your holiday card list may be the start. Quickly you fill out all family members, close friends, and people in your wedding party. Upon going for a close look at the sheet you see only 30 of the 100 man list slots filled.


The very next day after your career insurance agents work out, you start again. Now your brain starts blurring. You can observe dollar signs, but not new names. Examining the first 30 names you are trying to expand. Three hours you may spend, slowly recording aunts and uncles, even great aunts and great uncles, some in nursing homes or frail health. Racking your brains expands your list to 45 names.


Group Medical Insurance For Your Staff

Families and organizations both benefit from group health insurance plans. This is in all probability the best way to plan for unforeseen accidents and illness in the future. It is also a great way to be able to protect oneself from the burdens of out-of-pocket expenses and large medical bills as a result thereof. You need to make sure you have prescription assistance programs as a part of the plan.

Regardless of the claim, accident or sickness, having group health insurance will let you concentrate on getting well and not worring about the health bills. Having a good group presciption insurance package will allow you to get the best medical care without having to worry about the cost. On the other hand, a group healthcare insurance is widespread among small and big corporations. When there is a high-quality prescription insurance coverage then that is even better. Knowing that their employer cares enough about them to provide group insurance will increase the morale and output of the workforce.

Just because you are getting this healthcare insurance doesn’t mean you are expecting something to happen. Rather, this should be seen as a means of preparing for the worst should it ever happen. It is best if you never have to use your insurance. Knowing that your medical expenses will be taken care of is very good piece of mind. Most people understand that medical insurance is a wise purchase and that they will probably need it at some point in their life.

You need to eliminate a lot of the insurance companies because they just aren’t that realiable. Make sure that there is prescription program assistance included. It is important that you request several quotes from different organizations before you make your choice. Good consumers will make sure that they don’t skip this step. Most businesses will learn that when they offer prescription insurance to their staff that the productivity will go up.

Insurance for Small Business Owners

When starting your own business, you more often than not have to start small and develop your business to match not only demand but also your ambition and ideas. When a business is small, every step towards protecting it and its assets matter, sometimes more so than when it’s big.

The first step any new, small business owner should look to take towards protecting his or her business is making sure all of its assets are insured. For some this may prove easier than others, but one way or another you have to be insured in case the unthinkable happens: severe malfunction, theft or any sort of natural disaster.

Each business insurance package will ultimately depend on the type of business you run, the assets you have and the duties involved on a day-to-day basis.

There are several insurance protection schemes that you can get for your business, which may in the long run save you quite a lot of money if the need to make a claim arises. A specific type of insurance some businesses may need is professional indemnity insurance. This type of insurance is there to make sure that if anything goes wrong with the service that you are providing with regards to advice given and legal action is taken against you, your legal fees will be covered amongst other things.

Naturally, in an ideal situation you would never need this kind of insurance, but if you do get sued and you don’t have it in place you may have to pay a lot of money in court fees, lawyer fees and perhaps compensation to any injured party as a result of your actions.

Other specific types of business insurance cover SME’s may need include employers liability insurance and public liability insurance.

5 Practical Points to Consider Before Buying Professional Indemnity Insurance

In the unfortunate situation of professional negligence or error, PI Insurance may well save your business. It is important to ensure that you obtain the most suitable form of cover in order to maximise protection. Before you buy, ask yourself the following questions:

Is my profession covered?
For some professions, the purchasing of PI Insurance is mandatory. These include Accountants, Solicitors and the Medical profession, amongst others. A definitive list of named professions can be found online. However, anyone can purchase Professional Indemnity Insurance, and an increasing number of professionals in a range of industries are choosing to do so on a voluntary basis. Even if PI is not essential to your profession, it may be advisable.

How much cover will I need?
This varies dramatically from case to case. When taking out a policy, you need to consider the size of your contract and client, any potential defence costs and the maximum amount of compensation which could be awarded against you. In general terms: the higher the financial stakes, the greater the amount of cover required. You can usually set your own limit of indemnity when taking out a policy, but bear in mind that you will often be required to pay an excess. It is also worth noting that some clients will have a minimum limit of indemnity that they require. Some government departments, for example, require contractors to have at least £5 million of cover.

Am I covered for work that I’ve done before I take the policy out?
The majority of PI policies work on a claims-made basis. This means that the insurance covers any claims which are made during the policy period, rather than the actual incidents themselves. However, some insurance providers will require you to pay for retroactive cover to ensure that you are protected against any issues with work completed before the instigation of the policy. Some policies will run for a set amount of time, whereas others will continue indefinitely until payment is actively cancelled.

Does it cover me internationally?
Again, this varies according to industry and to the insurance provider. Many insurance providers offer industry-specific policies to ensure the most relevant and tightest level of protection. Policies can be further tailored to the requirements of your individual business, and amended as your needs alter. The function of Professional Indemnity Insurance is to protect you against the worst eventuality. It is therefore vital that you select (and if necessary, create) a policy which extends to the level of cover you require.

How do I pay?
The most common form of payment for PI Insurance is by direct debit. This of course means that the insurance is usually an ongoing business expense, rather than a single lump sum. The benefit of this is that your policy will continue to run until you cancel payment, thus avoiding a situation where your policy has expired without your realising. There are other methods of payment which can again be arranged to suit your individual situation.

There is much scope for flexibility with Professional Indemnity Insurance. By asking yourself these questions, you should begin to develop an idea of the needs of your particular business. The purchasing of this type of insurance could make the difference between professional security and dissolution – it is therefore important that you capitalise on the protection available.

For further information regarding Professional Indemnity Insurance, Employers Liability Insurance or Public Liability Insurance, visit Hiscox, experts in Business Insurance.