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How to Avoid Financial Ruin With Construction Insurance

In the construction industry, there are a lot of risks. When you don’t have adequate insurance coverage, you could devastate your business with legal fees. Lawsuits can happen, particularly on a Jobsite where there are several risk factors. Here is what you need to know about coverage for your company.

General Liability Coverages

General liability is a broad coverage. It generally covers property damage or injury. For instance, if someone falls on your construction site or suffers an injury on your site, you could be liable. This could be contractors, guests to the property or someone passing by. If someone suffers an injury on your site, then the general liability coverage will help you with legal fees.

Risk Coverage

The risks involved in construction are a serious variable to your coverage. While every company has to have its own customized coverage, there are some coverages that no construction company should go without.

These policies cover:

  • Materials
  • Equipment
  • Property

Damage to your construction site can occur due to vandalism, storms, theft, vehicular accidents and more. It is important to know the exclusions in your policy. For instance, some policies will not cover damages that are caused by earthquakes or water damage.

To protect your construction business, you need construction general liability coverage. Without it, you could financially devastate your business.

The Importance of Offering Disability Insurance to Your Employees

Financial advisors will tell you that the ability to earn an income is your most valuable asset. That’s why disability insurance is an important benefit for an individual to have, but more importantly – for companies to offer to their employees. There are two types of disability coverage an employer can offer.

Short Term Disability

Short term disability (STD) insurance protects 40-60% an employee’s regular wages if they have an injury or illness that is relatively short. Depending on the policy, STD provides between nine to 52 weeks of coverage.

Long Term Disability

Long term disability (LTD) insurance is arguably the most important of the two coverages to have because it provides long term income replacement should an individual become unable to work due to a debilitating illness or injury. Depending on the policy, it covers 50-70% of regular income and it kicks in when STD coverage ends. Policies vary, but this could be for 5 to 10 years, or as long as the employee is disabled until they hit the retirement age of 65.

In surveys regarding benefits offerings, employees consistently rank disability insurance as one of the most important. To attract and retain top talent, companies must offer a full array of benefits to their employees, and disability insurance should not be overlooked.

3 Marketing Ideas That are Practically Free

Many small businesses worry that they don’t have the funds for a strong marketing campaign, and as a result, don’t make the effort to move their marketing strategy forward at all. Contrary to what these business owners think, you don’t need a lot of money when looking at marketing for a small business. Here’s your guide to marketing tactics on a limited budget.

Social Networking Sites

There are several networking sites that allow you to create a free profile or page, but that’s not enough to attract new customers. You need great content. Creating it yourself saves money, but working with a freelancer that specializes in content writing is an expense worth taking.

Instructional Videos

Though getting a professional YouTube video produces can cost a pretty penny, you can use a friend, film student looking for experience, or a good old iPhone to create some personalized and engaging video content. Create videos that deal with your areas of expertise and bring in guests that lend credibility to your position.

Customer Reviews

You need to leverage the power of peer pressure. Social networking sites, Google reviews, Yelp, and Linked In are just of the few of the places a satisfied customer can leave a comment. Watch out though, since unhappy customers also have the freedom to share. Always respond to whatever content is posted and address any wrongs that were mentioned to beef up your credibility.

These are just a few of the dozens of ways you can improve your marketing strategy on the cheap.

Do I Need Private and Commercial Auto Insurance?

Deciding what kind of auto insurance you need can be difficult, especially if you have a vehicle you use for business and personal purposes. Understanding commercial car insurance vs private insurance is critical in determining what plan is best for you. However, in many cases, it may benefit you to have both commercial and private auto insurance. Ultimately, it comes down to why you’re driving to certain places and whether or not you’re carrying anything or anyone related to business dealings.

How to Know a Trip is Personal or Commercial

Some travels are very clearly personal, such as going on a family vacation or driving to the movies with a group of friends. Confusion really begins with travels like commutes. While commuters get you to work and you can use them for tax write-offs, they’re covered by personal insurance. However, if you were to transport a client or business partner, that would require commercial insurance to cover any risks. The same goes for transporting job-related equipment. It can get even more complicated when your job requires a lot of driving. If you frequently drive to different locations throughout the workday to fulfill your job responsibilities, commercial auto insurance may be necessary, regardless of whether you have anyone else in your vehicle. In these types of situations, if you use your personal vehicle, both commercial and private insurance would be a good idea.

Avoiding confusion with regards to auto insurance is as simple as speaking with a qualified professional. Make sure you know what coverage you need and stay protected.

4 Factors That Determine Homeowners Coverage

No one likes to think of theft, disaster and property loss during a new home search. However, these are potential risks and if you have a loan with a mortgage company then there will be a requirement to obtain insurance coverage for the home. Here are five things that factor into homeowners’ insurance coverage, and ultimately what you will pay for it.

  1. Where You Live

If your house is located in an area prone to natural disasters such as forest fires and floods, then expect to be required to have coverage for them – and pay more.

  1. Home Value and Condition

A larger home with more square footage and more belongings inside it will need more insurance than a smaller one. Similarly, the age of a house can also have an effect on a policy.

  1. The Deductible

While not directly related to your home or location, this definitely plays a role in what you pay each month. A higher deductible means lower payments. However, if you do need to file a claim then expect to pay more out of pocket at that time.

  1. Additional property

If you have other structures on your land or additional property such as expensive jewelry, then you should also add these to your homeowners to protect them as well.

Does Your Organization Need Employee Benefits Liability Coverage?

Employee benefits coverage may seem like a burdensome insurance requirement, especially for a nonprofit organization with limited resources or an up and coming small business. However, it’s an essential part of any employer’s insurance coverage.

What Doe Benefits Liability Coverage Do?

Employee benefits liability coverage is an important policy indorsement geared towards protecting your organization in the event of a legal claim related to employee benefits administration. In all the effort that you’ve put into securing benefits for your employees, you know that you and your team work hard to make sure that everything goes as planned. Nevertheless, administrative problems resulting from simple error or oversight can have dramatic consequences for individual employees and their families.

What Kind of Claims Can Occur?

According to Worldwide Specialty Programs, there are many different types of claims that can arise from mismanaging employee benefits. For example, if an HR administrator relays inaccurate information about a health insurance plan’s benefits, it could prevent an individual from making the right coverage elections. Moreover, providing misinformation could cause an employee to reasonably believe that their coverage is effective when in fact it is not; this could cause ab employee to incur significant medical bills without having insurance to pay for them. Ultimately, managing individuals’ health benefits is an enormous responsibility, and it is extremely important to safeguard your company’s benefits administration.

Hospitality Insurance For The Win

The hospitality industry can be a luxurious one to get into, but since there is so much direct contact with clients it can also be a risky one. If you’re the owner of a hotel or motel, remember to invest in the right kinds of insurance to protect your establishment and your reputation. All it takes is one negative review for yours to be known as the setting from a horror story.

What Insurance Can Protect You From

You already know that it takes money to make money, and one worthy investment for your business is hotel and motel insurance. Think about your home: You want to be ready for anything in case of an emergency, why would you not take the same precautions for your business?  Check out https://www.byrnesagency.com to learn more, but some of the best coverage includes packages like:

  • Liquor liability and foodborne illness coverage
  • Event and reservation cancellation
  • Fungus/mold removal services in case of an outbreak
  • Theft or accusations of theft

Your insurance can cover so much more than these simple few things, which is why it’s such a good idea to do more research. Figure out some packages that your business needs so that you can run successfully for many years more to come.

Insurance for Boat Rental Businesses

If you own a boat rental business, you may have set it up to share your love of the waters with others. This may give you the chance to earn a living while doing something you love. You want to protect your business as much as possible, however. It’s important to understand what type of insurance is necessary to protect your assets.

Do You Need Boat Rental Business Insurance?

As someone who owns a business that rents out boats, you’re liable for any accident or injuries that occur while someone is riding one of your boats. This includes repair expenses as well as potential medical expenses. The insurance firm Merrimac states that “the responsibility to pay for the related medical bills, pain, and suffering, even lost wages—can all fall back on the business owner.” Unfortunately, those costs tend to be on the expensive side and you can quickly find yourself out of business if you aren’t careful.

With boat rental business insurance, you can protect your assets. This insurance covers damages and injuries caused by your boat. Additionally, it can cover repairs to your boat if a renter damages it in an accident. This will save you from having to pay out of pocket for these costs.

You deserve to keep doing what you love and sharing that passion with other people. Make sure that your business is covered so you can focus on the important things.

Get Better Service From Your Group Medical and Dental Benefits

If you’re looking for ways to improve your company’s cash efficiency without short-changing your employees, you need to find ways to better administrate their benefits, so they cost less to keep up and running. That means understanding how outsourcing those services to a dedicated provider who can streamline your experience can actually save you money. In-house administration involves a deep investment in both physical and staffing infrastructure, but working with the right benefit specialists and providers can put that administration in the hands of an organization that is designed to handle it quickly because they already have the infrastructure in place.

Process Claims Faster With the Right Help

Employee benefits don’t have to be difficult to manage, and outsourcing group medical services dental claims can be a great way to keep your employees happy without getting bogged down in paperwork. Claim management is a big part of providing benefits your employees can actually use because sometimes a long wait for processing can result in providers attempting to collect from the employee, a situation that doesn’t help anyone in the long run. Make sure your people are taken care of while improving your bottom line by finding the right people to administrate your coverage and put your focus back on your core business.

Health Risks Facing Sewage Workers

Working in the sewage industry exposes workers to a variety of health risks. PPE for sewage workers ensures they have the protective wear necessary to limit their exposure to these health risks. Health problems come down to exposure to diseases and harmful gases.

Disease Exposure

Human waste can expose a sewage worker to a host of diseases that can cause health complications. Typhoid fever and dysentery sound like diseases of old but are still around in the sewers. Other common diseases include Hepatitis A, Salmonellosis, Campylobacteriosis, Gastroenteritis, Diarrheagenic E. coli, Cryptosporidiosis and Giardiasis. Many of these diseases cause issues with the gastrointestinal system but can also affect the liver and give the worker a high fever.

Harmful Gases

Sewage emits a variety of harmful gases including methane, carbon monoxide, hydrogen disulfide and ammonia. Under high doses, workers can experience symptoms ranging from loss of libido to chest tightness to sweating. The gases can irritate the eyes, skin and lungs. The experts at www.watercolormanagement.com, PPE includes a face mask, goggles, gloves coveralls and boots to prevent exposure to sewage and the gases it emits.

Ensuring you enforce PPE for sewage workers on each job limits their exposures. Make sure all workers are trained on the proper use of this protective equipment.