Tag: liability

Insurance Lapse

Getting Coverage When Borrowers Let Insurance Lapse

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...
Tow Truck Operators

5 Common Types of Insurance for Tow Truck Operators

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...
General Liability Insurance

The Ins and Outs of General Liability Insurance

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...
Maritime Liability

Coverage for Boating Operations

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...
Insurance Claims

Types of Insurance Claims

Many states have automotive laws that require all licensed drivers to carry a minimum amount of liability coverage against any damages an accident may cause to another vehicle or passenger. The same protection is what drive homeowners to purchase homeowner’s insurance. Regardless of the type of coverage, you will be selecting from first party coverage or third party coverage. What You Need to...
Coverage

Sourcing a Coverage Provider

When you need to find the right liability coverage, it can help to search through an insurance company directory for a provider that carries the services you need. There are many different exposures to be aware of, whether you are a commercial business or an average citizen needing to find car insurance. Choosing a provider that displays a variety of policies within the specific area of coverage...