A lender placed insurance policy covers properties to mitigate a loan provider's risk when a borrower fails to get adequate protection. Mortgage lenders can get various coverage types, including hazard and flood policies, to safeguard the uninsured property from potentially costly damage. Lapses may be due to missed payments, non-payment or other reasons. Property Foreclosures A lender will...
As a business owner, you rely on your employees every day. Without them, your business wouldn’t be as strong and you’d be forced to handle every aspect of your operation on your own. The more you can protect them on the job, the better off your company will be. No matter what industry you’re in, workers’ compensation coverage is the easiest way to protect your team anytime they’re on...
There are many potential risks that marinas and yacht clubs encounter. Often these uncertainties range from physical loss to other liabilities that expose them to unnecessary harm. Here are three ways to prevent yacht club risks and protect business assets. 1. Select the Proper Coverage There are many yacht club coverages available, which is why it’s essential to find one that suits your needs....
Each state has its own set of workers comp rules and regulations. New Jersey is no exception. in fact, the state requires coverage for most entities doing business within its borders. When you manage a business that is located or operates in the state, it is important to perform research into who must carry workers comp in New Jersey. What NJ Businesses Must Carry Workers Comp Coverage? New...
Congratulations! You've acquired a commercial truck. Now that you are an owner-operator, you're ready to hit the road. Before you hop in the cab, you'll want to find the right semi truck insurance policies to protect you from unexpected costs down the road. There are many types of trucking insurance to consider. Types of Commercial Truck Insurance Primary Liability covers the damage that might...
Knowing your options with commercial insurance can make all the difference toward how you feel about the plan you have selected. Protecting your business depends largely on the industry you operate within and the inherent risks found there. In some cases, this may mean taking a look at alternatives to the conventional options available to you. Protected cell captives, for example, can be a useful...
Being a tow truck operator is risky employment, as there are dangers associated with any work done on the open road or with heavy equipment. Just how much towing coverage is needed varies by company, but there are several common elements that are generally required. Liability Insurance Most states have a requirement of auto liability for many vehicles on the road. This is basic coverage that...
As a small business owner, there are several benefits to investing in a general liability insurance policy. This coverage can protect you and your employees from a variety of common risks, and it is frequently required to conduct business with other companies and contractors. When Is General Liability Insurance Needed? Liability insurance is often purchased when starting a small business. It can...
When it comes to finding the best insurance package for your business, there are several ways to go about the process. Group health insurance can make things even more complicated, as each employee in your business will have unique needs and associated risks. While standard policies might seem like the best fit, it can also be advantageous to pursue alternatives to the norm. One big decision to...
The laws that govern the seas and waterways are often different from those that govern businesses in the United States that are land-based. For maritime operations, there are requirements for insurance coverage that apply when vessels are out to see or when in port, and these are designed to address maritime liability concerns in the following areas: Boatbuilding Boat repair Commercial vessel...
