3 Must-Have Insurance Policies for Retail Businesses

The interior of a retail store selling various decor, including vases, towels, and mirrors.Many people dream of one day owning a store, and for those who’ve succeeded in this endeavor, it’s become a way of life. With this new business venture, these store owners need to invest in ways to safeguard all they’ve accomplished. Investing in protections that can guard you against the devastating financial impacts of situations like injuries to employees or guests, property damage, lawsuits, or sudden loss of business income is vital to ensuring that your livelihood remains intact. Let’s look at some must-have insurance policies for retail businesses. [Read more…]

Business Insurance: Additional Insured vs. Loss Payee

A janitor cleaning a business' tiled floors with a floor-washing machine, meant to despite someone who is an additional insured.When you’re searching for a new policy for your small business, it can be difficult to wrap your head around all the insurance jargon and terminology. One common area of confusion arises from the terms “additional insured” vs. “loss payee.” At first glance, it can seem these two are the same because you can add both entities to your business insurance and grant them the right to benefits. However, beyond this broad similarity, they’re actually quite different. Let’s discuss the difference between additional insured vs. loss payee and their accompanying rights. [Read more…]

Be Mindful of These 3 Unsafe Boating Conditions

A moderate-sized fishing boat tied to a concrete dock.Spring is upon us, which is the perfect time to prepare your boat for the warm seasons ahead. While de-winterizing your boat may be top of mind, there are some other safety considerations that you should brush up on before docking your vessel. Three avoidable – but often unconsidered – causes of serious injury while boating includes electrocution, carbon monoxide poisoning, and injuries caused by propellors. Let’s review these unsafe boating conditions and how you can properly prepare and equip yourself to deal with them. [Read more…]

How the Chip Shortage and Supply Chain are Affecting Auto Policies

A close of the semiconductor computer chip used in vehicles.Early in the pandemic, car manufacturers and other technological industries severely cut back on their computer chip orders, fearing a global recession. In response to these actions, semiconductor manufacturers reduced chip production, which has led to an increase in demand. We’ve all witnessed the effects this has had on the automotive industry, such as skyrocketing vehicle prices and vehicle shortages. This shortage, combined with the woes incurred by the global supply chain, is having an impact on insurance. Let’s review how the chip shortage and supply chain are affecting auto policies. [Read more…]

The 6 Most Common Homeowners Insurance Claims

A large oak tree crushing the side of a house, meant to signify and insurance claim matter.Most people who own a home carry homeowners insurance as it’s a required condition of mortgage ownership. But beyond the necessity of it, insurance provides you with coverage for damages that could otherwise bankrupt you or put you in a tight financial bind. The cost of premiums is nothing compared to the aid you’ll receive on a covered claim. To truly understand its importance, let’s review some of the most common homeowners insurance claims. [Read more…]

Protecting Your Construction Site from Theft

A residential construction sight featuring the frame of a house and a close up of a chiselWith warmer weather on the horizon, construction projects are underway once again. However, these job sites can quickly become targets for thieves, especially considering the current high price of construction materials. Anything that can be sold for cash – such as building materials, equipment, trailers, and construction vehicles – are at risk. Developing a site security plan can help your crew mitigate the risks of trespassing, theft, and vandalism of your job site. Let’s review some tips for protecting your construction site from theft. [Read more…]