Finding Insurance for Popular Commercial Vehicle Trends

All industries have to evolve to keep pace with the latest trends and ideas. The world of commercial insurance is no different, and for business owners or individuals looking to take part in these innovative new areas, it's crucial to make sure that you find the right type of protection. Two areas stand out right now for commercial vehicle insurance, and that's the continued growth of food trucks, as well as the huge expansion of ride-sharing operations.
In both of these cases, while in general the businesses may fall into other, larger categories, the insurance of those larger categories isn't really a match. It's a bit like trying to jam a triangle block into a round hole of the same size, it simply won't fit.
For example, take the case of food trucks. They may be similar to a specialty trucking vehicle. However, they have many more variables. Not only might they have refrigeration, but they have full cooking systems and the dangers those include, whether it's gas stoves and ovens, electrical appliances, burning hot areas.
From there, there's also the people doing the cooking, and the people being served. A typical policy won't cover these issues in the right way, which is why a dedicated food truck insurance plan is required.
In the case of ride-sharing, this is an area which is even more confusing to navigate right now. The legislation here is a bit complex, and it's continuing to unfold as we speak.
Clearly, a ride-sharing driver needs more insurance than a personal policy. But do they need a full commercial policy? Must a company such as Uber provide it for them? California is one state which has passed its own new legislation here, and Uber has already enacted some changes on their own, but this is very much still developing. The taxi cab companies are fighting against every supposed advantage that ride-sharing companies have, too, and there's going to be a lot more battling taking place.
When you capitalize on a hot trend at the right time, the sky is the limit for you and your business. These two areas are both soaring right now, with food trucks and ride-sharing continuing to become more popular by the day. But don't jump in blindly.
Make sure you are fully protected, with the right type of insurance, and make sure you're aware of any and all local laws or regulations which may apply. Reach out to a local insurance agent or broker who has experience working with these industries, and will be able to guide in the right direction while ensuring that there are no unfortunate surprises down the road.

John Rothschild is the owner of ACI Insurance Services, a leading provider of commercial auto insurance in Florida. ACI is known for their customer service, their 10 years of experience and their affordable rates, and they'll do everything they can to meet the needs of their clients. They also now serve the Georgia and Louisiana markets.
They will have you and your business covered with any type of commercial vehicle insurance. This includes commercial food truck insurance, limousines, charter buses, shuttle vans, specialty trucks, contractors, and much more. Visit LowCostFloridaInsurance.com or call John directly at 407.889.2612 with any questions or to receive a free quote.

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Commercial Food Truck Insurance and What You Need to Know

Who doesn't love going to a food truck? It seems like we all do, because in any major city or urban area, or even relatively smaller ones, there's a food truck, or a dozen, on every corner. Food truck owners face a unique set of challenges for how they operate their business. This includes, of course, making sure that they are protected with the right type of commercial insurance policy.
There are many different challenges for food truck owners, though. There are specific regulations which may apply in different states, counties or cities, with licenses, permits, and more. They can't depend on their customers coming to a set location, but instead they get to go to where their customers are.
They don't have to pay to rent or own a building, but they do need that vehicle, a way to find a steady customer base while on the move, and so on and so forth. Another issue arises when restaurant owners in brick and mortar locations, who do pay those costs and have been established in one spot, don't want you where they are. In this cases, they are often lobbied against, as the food service or restaurant community can be quite powerful with local legislators.
With all of that said, one of the unique challenges does indeed remain finding a commercial auto policy for food trucks. Simply put, a typical commercial vehicle insurance plan won't work well for food trucks. You're not deep frying foods with vats of boiling hot oil in your typical commercial car, are you?
There's electrical equipment, the people doing the cooking back there, the issue of serving customers food and disposing of waste, and on down the line. It's a lot to sort through, and that's why it's so important to find a commercial policy which has been designed with just this in mind.
Even if you speak with an insurance representative who tells you that you can get away with the commercial policy for a refrigerated vehicle, or a more generic plan, don't settle for it. Also, be sure to keep in mind any changes to the local laws and regulations where you live and work, because this is a rapidly changing and evolving area.
The good news is that there are a growing number of options available to you, if you're the owner of a food truck. Make sure you protect your business, and yourself, as completely as possible, with commercial food truck insurance which covers your every need, and a provider who understands the unique challenges you face operating this kind of business.

John Rothschild is the owner of ACI Insurance Services, a leading provider of Florida commercial auto insurance for more than 10 years. ACI is known for their customer service, their extensive experience and knowledge of the industry, and their affordable rates, and they'll do everything they can to meet the needs of their clients. They also now serve the Georgia and Louisiana markets.
They have experience with all types of commercial vehicle insurance, including Florida food truck insurance, specialty trucks, contractors, buses, limos, and much more. Visit LowCostFloridaInsurance.com or call John directly at 407.889.2612 with any questions or to receive a free quote.

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Commercial Truck Insurance Protects Your Employees and Your Business

When it comes to commercial truck insurance, make sure you have the right coverage to ensure you and your employees are taken care of in the event of an accident.
Liability Insurance
This type of coverage protects you from the cost of medical injury or property damage resulting from an accident caused by you or a company employee in an insured vehicle. Policies usually list separate limits for bodily injury and property damage. With commercial truck insurance, many agencies will offer a single limit option, allowing for greater flexibility with how the costs of the accident are handled.
Property Damage
This coverage is designed to pay for the repair or replacement of damaged property, including cars, fences, poles, mailboxes, and buildings. It can also help with legal expenses if a business is faced with a lawsuit related to the accident. How much money you should have on your policy is determined by the type of business you run, the size of the business, number of vehicles, your assets, and your financial situation.
Bodily Injury
Bodily injury insurance is used to help pay for the costs associated with injuries to others in an accident caused by you or your employees. Some of the costs may be used for hospital care, doctor visits, medicines, rehabilitation services, lost wages, and funeral costs.
Physical Damage
This option covers the cost of repairing or replacing the insured vehicle. Types of this policy include:
- Collision: For the repair or replacement of the insured vehicle as a result of an actual collision.
- Comprehensive: For repairs associated with damage to the vehicle that are not the result of a traffic collision, such as in the cases of fire, theft, inclement weather, or collisions with animals.
Uninsured or Underinsured Motorist
While most states require motorists to be covered by liability insurance, some drivers do not carry appropriate coverage. Including uninsured motorists coverage on your commercial truck insurance policy can help if you or your staff is hurt, or if your vehicle is damaged in an accident caused by an uninsured or underinsured motorist.
Other Commercial Vehicle Coverage
There may be special options appropriate for your particular business needs, such as coverage for:
- Non-owned vehicles to protect cars that are not owned by your company.
- Individual-named insured endorsement in the case of individuals or sole proprietorships, which allows for coverage if the vehicle is for business and personal use.
Talk with your agent about the appropriate options for your commercial truck insurance. You want to make sure you have the correct coverage you need to protect your employees and your business in the case of an accident.

When considering commercial truck insurance, Arkansas residents visit American Insurance Brokers, Inc. Learn more about this policy at http://www.americantruckinsurance.com/arkansas-coverages/.

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Oil And Gas Insurance Is Vital For Any Drilling Project

Managing a drilling operation comes with a tremendous amount of inherent risk. Do not let your business' growth be restricted in any way by the amount of risk that is generally associated with your operation. This makes oil and gas insurance is absolutely vital for all aspects of the energy production field.
Hiring a great team to handle your policy is the first step in significantly lowering the amount of risk your operation is taking on at any given moment. A good company will send qualified consultants out to assess your work sites and make vital safety suggestions. These consultants are hired to save you money on your policy, so it is a good idea to implement as many of their suggestions as possible.
As you know, the rig is one of the most dangerous places to work in the energy field, but when you have oil and gas insurance they will send an experienced professional safety consultant to your site to do the following:
- Conduct a rig assessment to ensure that your operation is completely safe for employees and the environment at federally approved levels.
- Inspect all the equipment. Once you have had a safety professional give your rig's equipment safety certifications then your policy rates will be significantly reduced.
- Train your employees in safety standards. Fall and equipment operation safety courses are very important to running a successful and safe energy operation. Making sure that your staff is completely trained in safety procedures and protocols will only benefit your bottom line.
- Assist you in implementing employee safety committees. These committees will work to keep the entire staff up-to-date on safety issues; they will also work as a form of self-inspection and regulation. Fully disclosing and reporting all accidents and safety concerns will not only allow you to address them in an expedited fashion, but it will also go a long way in ensuring that your oil and gas insurance rates stay reasonable.
Lastly, you need to be sure environmental protection is included in your plan! Having environmental protection coverage as part of your oil and gas insurance helps protect you from third-party claims that result of environmental hazards, and it ensures that any environmental hazard gets remedied as soon as possible by a clean up crew provided for by your policy.
If you have an energy operation, you need an all-inclusive policy to protect your business.

To learn more about oil and gas insurance, Farmington residents should visit http://www.mianm.com/oil-and-gas-insurance/.

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Understanding General Liability Insurance

GL or general liability insurance is an insurance coverage which offers protection from several claims. They include property damage, bodily injury and personal injury as well as other kinds of injuries that can happen during business operations. The coverage is available as a standalone kind of coverage, but often times it comes combined with property insurance, especially in a BOP or Business Owners Policy.
If you are a business owner or a contractor, you will find this kind of insurance to be a great tool in safeguarding your livelihood. It is important to remember that small looking accidents can result in hefty lawsuits which can be tedious to handle. With the general liability insurance in place, you will find that you are well protected from such kinds of situations. It is also common to find some employers requiring that you have this kind of insurance before they hire you to work for them. It takes the burden off their shoulders should anything happen to your when working for them.
Contractors require this insurance contrary to the belief that they are better suited for BOP. This is because even with property insurance in place with most commercial buildings, you will still be exposed to a great deal or risks as a contractor on the job. You are therefore better off with the cover in case the unexpected happens.
The general liability insurance comes in handy for business owners with commercial buildings or personal property such as storage facilities or garages among others. It gives them the peace of mind as an additional protective tool to already existing insurance covers or policies for the business.
What does it cover?
Under the general liability insurance, financial costs that are associated with property damage and bodily injury on your premises are covered. The same in a client's location are still covered. The insurance will take care of any medical costs and legal costs should the injured person sue you. For instance, if a client visiting your business unfortunately ends up tripping and getting injured, he can sue you. The insurance takes the worries off your shoulders.
The insurance also covers damages and injuries caused by your employees when working on the company's behalf. It can be damage on your property or on the property of your client you are given responsibility over. It covers any court costs, attorney fees and judgment related fees in case there is a lawsuit.
What it doesn't cover
When going for general liability insurance, it is important to find out what it does not cover. For instance, physical damage to a client's computer system by your employees will not be covered by the policy. You might need a different insurance policy for that.
This insurance also excludes claims by a client over poorly delivered services from you that led to financial loss suffering of the client. This is usually under the professional liability. Most people mistake what the insurance covers and it is important that you get enlightened before seeking a good policy for your needs.

General liability insurance is now offered by many insurance companies. You might find it helpful to take the time to go through reviews before making the final decision. This way, you will get value for the premiums that you pay.

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Insuring Your Business Vehicle

There are many issues to consider when insuring a vehicle that is owned and used by your business. The questions that surround these issues, and how you would answer these questions, will determine what insurance you need to properly protect yourself, your employees and your entire business. It is important to remember that for this insurance, you don't want to just go with the cheapest option. Your business is at risk every time a business vehicle is in motion.
As a business owner, you need many of the same insurance coverages for cars, trucks, vans or other types of vehicles you use for business purposes as you do for vehicles you operate in your personal life. The Business Owner's Policy you purchased for your business does not usually provide liability or other coverages for vehicles used in your business. That means you will likely need a separate vehicle policy.
Most states require you to purchase liability insurance for bodily injury and property damage that may result from a vehicle accident occurring while you or someone from your organization is driving for business. The Business Auto Coverage Form (BACF) is the most commonly used contract for providing business auto liability insurance. Although the form refers only to "autos," autos are defined to include cars, trucks, trailers, vans or other vehicles designed for use on public roads.
Many states also require you to have uninsured/underinsured motorist's coverage and/or medical payments coverage, known as Personal Injury Protection (PIP) in some states. You can also purchase physical damage coverage for vehicles your business owns, leases or hires.
Each vehicle you use in your business can be separately "scheduled," or listed on your policy, along with corresponding coverages. In other words, you can choose different coverages for your various vehicles, depending on the vehicles' characteristics and the coverage you need for each.
Do I Need a Business Auto Policy?
Your insurance agent will ask in detail how you use vehicles in your business: who will be driving them, whether you own, rent or lease, and whether you and your employees are likely to be driving their own cars for your business. The answers to these questions will indicate the types of coverage you need.
In general, only a BACF can provide the level of liability protection-with a recommended minimum of $500,000-that even a small business needs to cover the potential damages in a serious accident.
Will My Personal Auto Policy Cover Business Use?
Your personal auto policy may provide some coverage for business uses of your vehicle. By the same token, your employees' personal auto policies may cover some business uses if they were using their personal vehicles for business errands.
If the vehicle you are using is used primarily in business, your personal auto policy might not be enough to cover any losses. It will most likely not provide coverage for any vehicle titled and registered to a business. If you, or your employees, are driving personal vehicles for occasional business activities that are covered by your personal auto policies, it is important to have sufficient liability coverage to protect the business in the event of a serious auto accident.
Many business people have a personal umbrella policy, covering claims that may result for damages personally caused to another. It is typical for an umbrella policy to exclude any claims while in the course and scope of doing business.
What Vehicles Are Covered in a Business Auto Policy?
The choice in business auto policies can vary, depending on the coverages offered by your insurance company. The BAP could apply only to one specific car, or could be extended to cover the insured's use of any automobile. Most states offer three general options for which vehicles could be covered under your policy:
1. All autos owned by your business
2. All autos owned or leased or hired by your business
3. All autos used for the business, including those that are not owned, hired and/or leased.
Most businesses should consider the third option as it will likely be the policy that protects a business when an owner or employee are using a personal vehicle for business.
Details of the Business Auto Coverage Forms
-Be sure the titled owner is listed as the principal insured on the insurance contract.
-Be sure to have "full" coverage on your vehicles, comprehensive and collision.
-It is recommend that a small business have an auto coverage limit of $1,000,000. This amount of coverage does not usually cost significantly more, and it could save your business in the event of a serious car accident involving a business automobile.
-The combined single limit (CSL) on your business policy should likewise be $1,000,000 at a minimum.
-A business umbrella policy is always a good idea. Ask your insurance agent about what options might be available to you on your policy. This gives added protection as long as the underlying policies are in force at certain minimums.
When Your Business Vehicle Is Also Your Personal Vehicle
When an owner of a business, or an employee, drives a business vehicle for personal use and that person does not own their own personal vehicle, there is a gap in liability coverage. The BACF does not cover personal use of the business vehicle in these situations. An owner would need to add a "Drive Other Car Coverage Endorsement" to a BACF policy. This will allow for coverage to other vehicles driven by the business owner, making the policy now act more like a personal policy and covering the driver and vehicles under the business policy.
Your Business May Be Liable if You Allow a Bad Driver on the Road
You and your business can be legally liable for allowing someone to drive one of your business vehicles. If you fail to determine whether or not the person is qualified to drive or has a bad record, you might be liable for negligent entrustment. A case of negligent entrustment arises when you allow another person to drive your vehicle, knowing or having reason to know that the use of the vehicle by that person creates a risk of harm to others. Your business is responsible for verifying any driver's qualifications before entrusting them with a vehicle.

For more information on vehicle insurance, please visit IHlaw.com http://www.ihlaw.com/what-to-consider-when-buying-car-insurance/

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Starting Your Own Company? Don't Forget Business Insurance

Starting your own venture is part of the American dream for many. In fact, small businesses of 500 personnel or fewer employ 50 percent of the American workforce. There are approximately 28 million of them in the US and they account for 65 percent of net job creation since 1995. If you're starting your own company, looking into business insurance should be at the top of your priority list.
Business insurance encompasses all the different types of coverage owners need to protect themselves from losses that could put them underwater financially. Even if you think you don't employ enough people to make the premiums worth the coverage, just remember that anyone can be sued. The smaller your company is, the more likely it is that you can be held personally liable for damages.
What do I need to have?
There are several different kinds of business insurance you'll want to have depending on what type of company you own. You'll want to think carefully about your risk and then shop accordingly. You may also want to talk to an agent for advice. Here's a rundown of the different types of coverage you'll want to consider.
Even if you have no employees:
Liability. Even if you're home based, you probably need this. Its purpose is to protect you in case someone sues you for negligence that cause bodily or property damage.
Property and Casualty. Even though these are really two different categories, they are often grouped together. Property covers the physical location and its contents (even if it's leased) against things like fire or earthquake. Casualty, on the other hand, covers the day-to-day operation if you're unable to function because of disasters like the ones listed above. Read over your policy to ensure that you're fully covered in case of disasters.
If you have employees:
Health. Not only is this a good thing to have for yourself, it can also help you attract the most qualified employees. While setting it up can be a little complicated, the increase in productivity for yourself and those who work for you could save you in the long run.
Worker's Compensation. If you have anyone on the payroll, you have to participate in worker's compensation programs. It's the law. Even if it wasn't, you'd probably want to participate to protect yourself from a lawsuit should any of your employees be injured on the job. This type of business insurance covers work related injuries, and because of these benefits, the employee gives up the right to sue you should an accident occur.
Starting your own outfit and being your own boss is something that many Americans dream of. However, the practical implementation of dreams can sometimes get complicated. You'll always want to make sure that you're protected, and business insurance is an important part of that protection.

To learn more about business insurance, West Bloomfield residents should visit http://www.philkleininsurance.com/business/default.aspx.

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Signs of a Quality Insurance Company

The insurance company you choose to protect you from loss in the event of an accident or situation needs to be a trustworthy one. Know what to look for as you analyze and examine different companies and policies to ensure that you choose the right coverage.
Positive Ratings
Rely on the assessments of the rating companies, whose purpose is to analyze the quality and financial wellbeing of insurance companies. Check the rating of any insurance company you are considering. As you check ratings, compare them to learn which business has the highest rating. Higher ratings have a direct correlation with the solidity of the business and the services provided. Higher ratings also indicate entities with more solid financial standings for paying out claims.
Business Longevity
Examine the length of time a business has been operating to get an indication of the quality and reliability of its services. A newly formed entity may not be able to offer customers the same reliability and performance as businesses that have been around for many years. A recent purchase and transfer between insurers could indicate that the new owner is undertaking positive growth.
Customer Service
The services provided to customers by an insurance company will be an important indicator of quality. Optimally, customers should be able to reach representatives in a variety of ways, such as by phone, online chat, and email. The response times to customer queries should be relatively short to ensure that all questions and concerns receive a speedy resolution. Customers should also be able to reach a representative around the clock and on weekends and holidays for emergencies.
Coverage Policies
The policies provided should meet your needs, with cost effective premiums, affordable deductibles, and terms that meet your coverage needs. Compare policy terms between different corporations to ensure that you choose the policy that fits your budget and needs. Explore the claim-paying process to find out how the business investigates claims and the typical time period for payment on a claim. Find out the rate of claim refusal, also, so you know the average pay out statistics for the insurance company.
Reviews and Complaints
Learn about reviews and complaints recorded by other customers to find out potentially positive and negative information about the insurer. Find positive and negative reviews on websites that allow consumers to record their experiences for other consumers to read. These reviews may provide surprising information about an entity that could lead you to decide not to choose them as your insurer. You might also learn positive information about the way a business takes care of its customers. Optimally, the corporation you choose should have very few or even no complaints lodged against it from other customers.
Once you gather extensive information about a company, you will have the data you need to choose a quality business for your coverage needs. This will enable you to put your trust and confidence in this corporation, knowing that it will assist you financially if you need it.

When looking for a well-respected insurance company, PA residents visit The Nice Agency. Learn more about our services at http://niceinsuranceagency.com/.

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Top 10 Tips for Reviewing Your Professional Indemnity Insurance Coverage

1. Policyholder
Check that your full business name is correctly listed. This needs to be the legal entity in which you trade under.
2. Business Description
Ensure that the business description correctly reflects the business services that are insured under the policy.
3. Prior Business
Ensure all prior company names (legal entities) are listed under the insured name and that the Business Services are listed under the Business Description. (If they are not listed, it is likely you are not covered for work undertaken through these entities).
4. Retro-active Date
The retro-active date should provide cover for either unlimited date or the date your business commenced. In some circumstances, insurers may not be able to provide full information from the date your business commenced if no previous professional indemnity insurance was in place before.
5. Policy Limits (Limit of Indemnity)
Review your policy limit to ensure that you are adequately protected. Consider your prior, current and forthcoming work.
6. Policy Excess
Minimum excesses are set by insurance companies. Whilst increasing your excess may have a slight reduction in premium (generally not more than 5-10%), the premium saving should be compared to the additional amount payable in the event of a claim or multiple claims.
7. Territorial and Jurisdictional Limits
Insurance policies issued within Australia provide at minimum Australian Territorial and Jurisdictional Limits. If you are providing products and services to or in other countries, then you should ensure that your policy is suitable for this.
8. Policy Extensions
Review the policy extensions to ensure that you understand the nature of cover provided.
9. Policy Endorsements, Exclusions & Conditions
Review the policy endorsements, exclusions and conditions to ensure that you understand the extent of the cover provided.
10. Claims & Notifications of Circumstances
It is extremely important in order to comply with the policy coverage to notify all claims or circumstances to your insurer in the year that they arose, prior to the expiry of your policy.
Failure to do so may result in a claim not being insured. Ask all your employees/authorised representatives/sub-contractors to confirm in writing that they are not aware of any circumstances or claims against them. Encourage openness and not a culture of fear regarding notifications to PI Insurers.
If in doubt, refer any issues to your insurance broker or adviser, or in their absence directly to your PI Insurer.
The policyholder has an obligation to understand the terms of the contract. Whilst an insurance broker's role is to provide advice and to ensure that the policy is in accordance with your instructions, current legislation places responsibility on all parties to an Insurance Contract to be aware of the details of that Contract. We recommend you read these documents in conjunction with the Policy Wording and retain these documents and that you keep them both in a safe place.

To Contact us visit our website at http://www.optimuminsurance.com.au
or call us on 1300 739861.

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When Should You Consider Getting Insurance Through Your Credit Card Company?

Most credit card companies offer insurance to their card holders. This article takes a look at the different types of policies that are available for consumers. It also provides suggestions on who makes a good candidate for each type of insurance.
By now, most people with a credit card know that they can obtain credit insurance from the company through which they obtained their account. Many people decline this type of insurance right away simply because they don't understand what it covers, don't expect that they will ever need it, or just don't have the money to spare. In many cases, the insurance offered by credit card companies is never going to be used, but what if you are one of those people who might actually benefit from getting credit card insurance? When should you consider getting insurance through your credit card company?
When Should You Consider Getting Credit Disability Insurance?
If you become unable to work due to medical reasons, credit disability insurance will pay your minimum monthly payment for the credit card account that is attached to the policy. Unfortunately, a pre-specified timeframe dictates how long these payments will be made. Any purchases that you make to the account after the disability occurs will not be considered for payment purposes. If you have a job that places you at risk of serious injury, you might want to consider this type of insurance. Another reason to think about signing up for a policy of this nature is a strong family history of diseases that lead to the loss of the ability to work.
When Should You Consider Getting Credit Life Insurance?
It is important to understand two facts about credit life insurance. First, this type of insurance only comes into effect if you die. Second, the policy's beneficiary must be the company that gave you the credit card. If you should die, this policy pays off the credit card debt in full for you, avoiding the need for your family members to do so. If your job places you at risk of death, then you might want to consider this type of policy to protect your family.
When Should You Consider Getting Credit Property Insurance?
If you obtain credit property insurance, the policy cancels the debt you owe on completely destroyed property that you purchased with your credit card. Of course, the property must have suffered damage according to the terms listed in the insurance document. As long as you do not have a deductible in place, your debt is canceled in full. If you live in an area that frequently experiences severe storms, such as tornadoes, hurricanes, hail storms, and thunderstorms, credit property insurance might be a good idea.
When Should You Consider Getting Involuntary Unemployment Credit Insurance?
In the event that you lose your job due to a lay-off or downsizing by the company, an involuntary unemployment credit insurance policy will pay your minimum monthly payment for a set period of time. The payments will not cover any new purchases that are made after the time that your unemployment occurs. Anyone who frequently falls victim to this scenario should consider looking into this type of coverage.
The Benefits of Buying Credit Card Insurance
Perhaps the most important reason to consider obtaining this type of coverage is that it can protect your credit score. As long as the minimum monthly payments are made and you keep current on your other bills, your credit score shouldn't drop a great deal You will also avoid late fees and exorbitant increases in interest charge.

Visit your Fox and Co website to know more about Investments, Tax Advisory, Insurance and Introducers

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The Cost of Having Professional Indemnity Insurance Vs Not Having Coverage

What type of IT services do you provide? Are you a website developer, an IT&T project manager, software developer, or a provide IT&T support services? Or perhaps you are IT&T Consultant or Contractor? No matter what your profession is, if you provide professional services and advice to your clients (for a fee) than there is an expectation on you to deliver accurate advice. However, in business, there are times when mistakes and accidents do occur. Unfortunately, even the most careful of individuals may do something that upsets a client due to an error or negligence, and that client threatens to sue when that mistake causes them a financial loss.
George's story
George is an IT software developer and he has been doing business for a couple of years. He is a sole trader with no employees. He has never had an incident in which a client had become overly upset with him. As a matter of fact, he has a very high rate of satisfaction among his clients.
He recently won a new contract, which he'd been pitching for for close to a year, for a high profile client. The work involved a substantial upgrade to ERP system incorporating new product lines. He was thrilled. Even though it meant that his workload would dramatically increase and that he had to work longer than usual hours, it was only for the short-term and the hours would be well worth the rewards at the end, due to the prestige of having this client as part of his portfolio and the potential work that could be developed.
Unfortunately the same week he won the contract, he got a call that his mother had been in a car accident that put her in critical condition. In the following weeks, George spent most days by his mother side and worked nights to try and keep on top of his work. He spoke to his existing clients and advised them of the situation and they were willing to provide more time during this difficult period. However, as George wanted to impress his new client and did not want to risk losing their work, he did not advise them of his situation. Exhausted and stressed, he pressed on and completed the work for his new client and confirmed the completion of the project. After weeks of touch and go, George's mother was in stable condition and in recovery. George feels a sense of relief and things seem to be getting back to normal.
A few weeks go by and he receives a call from his new client advising that there is a problem. There appears to be major inconsistencies with the new products and a review of the systems appears that the system is miscalculating the cost of products and a review indicates that this has cost them $40,000. They have subsequently suspended product sales until the problem is rectified. The client will incur a further substantial financial loss as they already announced the launch date of their new product and cancellation of the date would incur additional costs. The client advises George that they will be making a claim against him for the costs and any additional expenses incurred. George assures his client that if he is responsible for this error, that he has professional indemnity insurance in place which provides protection in the event that he is negligent.
Immediately after the phone call from his client, he phones his insurance broker. Fortunately, George had professional indemnity insurance that covered breach of professional duty which includes cover for acts, errors and omissions. When it was all said and done, the client recovered $60,000 (including legal defence costs), but not out of George's pocket other than the policy excess. Following an investigation, his insurance responded to his clients claim and George could go on with his life and not worry about managing a claim from his client or worrying about were he was going to come up with the money to pay. Although George had made an error, the client was happy that they were compensated for his negligence.
George's scenario is an example. Whether under pressure for work, or personal circumstances, or just a pure accident, mistakes do happen, we are all human.
The cost of not having professional indemnity insurance
The cost of not having professional indemnity insurance can be quite significant. Depending on the nature of financial loss caused to a client, a person can be sued for way beyond the value of the work or contract value with a client. It doesn't take long for a business and client relationship to turn sour if there a financial loss suffered, whether it be by an individual person or a business. In many cases what happens next is legal advice sought from a lawyer or solicitor and, in turn, they will be appointed to explore all avenues to endeavor to recover the loss suffered against all parties involved and commence litigation. A person can be sued for any amount of money as a result of their client suffering a financial loss and actually be legally required to pay if it is found to be as a result of their negligence. If they don't have professional indemnity insurance or are not well financed to cover a financial loss out of their own pocket, then they're probably going to need to sell their home, business or a number of their assets in order to come up with the amount. Worst case scenario is to lose everything and file for bankruptcy. This can ruin credit and many other areas of a person's life.
You never know when something may occur. You don't have to be negligent for someone to make a claim against you, it may be an allegation that you are required to defend. It isn't worth taking that chance to not protect yourself and your business when one lawsuit can literally ruin your life for years to come. Too many individuals in the past have done business without professional indemnity insurance and are paying for it many years later. Had they had the coverage, they probably still wouldn't have paid in premiums what they had to pay to settle the claim. The yearly cost of the insurance is well worth the investment.

Contact Us
For more information visit our website: http://www.optimuminsurance.com.au
or for an obligation free quote call 1300 739 861

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Courier Driver Insurance: What You Need to Know

There are many things that you need to set in place when you first start out working as a courier driver. However, one of the most important things on your list should be to ensure you have adequate insurance.
Finding suitable insurance is essential. Not only is insurance a legal requirement, but a policy that covers all your needs will also serve to provide you with peace of mind while you work. Here is what you need to know.
Courier Insurance is not Standard
Insurance is a legal requirement for every driver - in fact, even if you are not using your van a lot, it must still be insured. However, if you use your vehicle to carry out delivery work, you should be aware that you'll need more than just standard vehicle insurance. As a courier driver, you will be considered a higher risk than other road users, because you will stop frequently, you have deadlines to meet, and you may also transport valuable goods that need to be covered under a policy. It therefore makes sense to spend adequate time researching the most suitable policy, even if that means spending a little more on it.
Different Types
There are different levels of policies that you can choose from. Everybody's circumstances are unique, so it is important to find the most suitable policy for your personal situation when working as a courier driver. Various factors could influence your insurance, from the type of vehicle you drive to how far you travel and how many drop-offs you make.
One of the most important things to look for is goods in transit cover. This provides coverage for all the cargo you transport, some of which may be very valuable. If you have an accident or the goods are stolen, you are liable for the damage or loss, and this could cost you a lot of money. So to have complete peace of mind you'll need to invest in decent goods in transit cover. (You should also find out what is not covered under a particular policy, as it may not include high-value goods like jewellery.)
Breakdown cover is another thing you should definitely consider including. This will provide you with protection should you experience problems on the road, as it can be very difficult if something goes wrong when you are working to a deadline.
Other things that may be covered in a policy include vandalism, overseas travel, public liability, employers' liability, personal belongings and replacement van cover. You may also want to get a fleet policy if you have numerous vehicles. It's important never to assume that any aspect is covered; always check the details carefully and understand exactly what you're covered for as well as how much excess you will have to pay when you make a claim.
Look Around for a Suitable Policy
When you start your research for insurance, always search around and get quotes from various providers, as they'll all provide slightly different policies at different prices. This is an important decision for any courier driver, so do spend some time over the process. And remember, don't simply buy the cheapest you can find - you need to make sure it really does provide the cover you need.

Norman Dulwich is a correspondent for Courier Exchange, the world's largest neutral trading hub for same day courier driver jobs in the express freight exchange industry. Over 3,000 transport exchange businesses are networked together through their website, trading courier jobs and capacity in a safe 'wholesale' environment.

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Important Information on Commercial Truck Insurance

Purchasing commercial truck insurance can be confusing for those who have not done it before. However, if you are well prepared before you start shopping around, you'll find that the process goes a lot more smoothly. Here's some basic information that will help make it easier to get the coverage you need.
The Basics
There are a few things you'll need to have on hand when getting quotes for commercial truck insurance. You'll need the driver's license numbers and basic driving histories of all your drivers (this even includes speeding tickets). It's very important those histories are accurate, however, because if they aren't there is a chance your quote could rise substantially. You'll also want to have the vehicle identification numbers (VINs) of all your vehicles.
Different Types of Commercial Truck Insurance
There are basically four different kinds of coverage. The most basic one is liability, which is mandatory coverage that will pay for any damage caused by your vehicle. If you don't have it, you could incur extremely stiff penalties. Bobtail coverage is also known as "non-trucking liability." It will provide coverage when your vehicles need to be serviced whilst on the road. Cargo coverage, as you would imagine, covers the loads that your rigs carry. While this isn't mandatory, many of your customers may demand that you have it. Finally, there is physical damage coverage that will protect you against flood or fire damage as well as theft.
Saving Money
There are several dos and don'ts when it comes to purchasing coverage for your fleet. However, one of the things most experts recommend is to be as honest as possible regarding the value of your vehicles as well as driver histories. Talk to several companies first before you commit to one, but don't make your final decision on price alone. Do a little research and make sure you have the exact amount of coverage you need so that there are no surprises should something go wrong.
In addition, try to increase your deductible as much as you can. The higher the deductible, the lower your monthly payments will be. Just have the best possible idea of how much you'd be able to pay should an accident occur. If possible, pay for your commercial truck insurance all at once rather than in installments, because that could result in substantial savings - as much as 15 percent in some instances. You can also avoid potentially costly checking fees by paying via electronic money transfer.
Finding commercial truck insurance doesn't have to be difficult, but you do have to put forth a little effort in order to get the best deal possible. Just remember that if you receive a quote that is a great deal lower than others, that could be a sign that you'll be getting what you pay for.

When looking for a high quality commercial truck insurance, Tennessee residents visit American Insurance Brokers, Inc.. Learn more about our services at http://www.americantruckinsurance.com.

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How to Evaluate the Right Claims Management System for Your Organization?

With continuous changes to the software industry, Claims Management Systems (CMS) have evolved with technology. These systems are equipped with newer capabilities to provide enhanced services to customers. In such situations, evaluating and selecting the right CMS for your organization could be a difficult task. In order to assist with this process, we furnish a few simple steps through which you can evaluate and choose the right CMS for your organization.
Check the efficiency and responsiveness of the system:
Efficiency
• Claim management systems are crucial to making the customers satisfied and to improve the overall performance of the company. A CMS should be able to manage the entire claim process - from the beginning to the final settlement. The software should help in organizing every file activity and maintain reports.
Responsiveness
• In addition to performance, a CMS needs to allow the user to run reports instantly. The ability to quickly access information will expedite the claims, allowing employees to return to work, and employers to save valuable resources.
• A transaction - accessing and saving a claim, creating letters, etc. should not take more than 10 seconds, and on an average it should be done only in a couple of seconds.
• While evaluating the performance and response time of the CMS, ensure to check them in a real time environment with and user data. This will give a complete picture of the performance and the responsiveness of the system.
Technology used in the system
Today, many organizations prefer browser based systems that help them simplify deployment, support, and allow for remote access.
• While evaluating the technology, check the type of database being used. It is important to choose the right database with a simple and efficient data model. This will help create reports and data mine independently.
• A critical issue that goes unchecked by many organizations is with respect to the reporting database. The reporting database should be kept separate from the transactional database as it impacts the system performance.
Security, confidentiality and hosting model of the system
Security and confidentiality of the data
It is the responsibility of the organization to keep the claimants information secure. In order to keep the data safe, it has to be encrypted with multilevel access passwords. All users should be given unique ID's and passwords with no plain text.
• To reset the password and protect system security, do not allow viewing of the old password.
• Data to the user and from the user should be encrypted using a SSL encryption. Along with this, user access permissions, levels of authority, hierarchy, etc. - are necessary to ensure security and confidentiality.
Hosting
• If your organization possesses adequate bandwidth and infrastructure for supporting new applications you may want to consider hosting the system.
• If not, hiring a reputable web host is you best alternative. Be sure to confirm the system is always accessible and is supported without any interruptions in the services. Additionally, in choosing a web host make sure that there is equipment redundancy and document backup to ensure data is replicated without any loss.
Functionality and features of the system
Functionality
• For every CMS, there should be some basic functional modules such as claim/claimant maintenance, notepads, diaries, reporting, payment and reserves, etc.
• Check the functionality that will help the examiners to focus on closing claims quickly. You can ask various questions regarding the functionality of the CMS, depending on your business requirements and workflow.
Features
• Check the features of the system and all the data categories that your organization needs.
• The system should enable users to build data fields as the organization grows and risks become more complex.
• Check for the software integration. This gives the new capabilities in settling the claims quickly and efficiently.
Vendor assessment
Once the system meets all the required guidelines, it is necessary to assess the vendor. In order to assess a vendor, several factors should be considered.
Clients' needs
• An efficient vendor should constantly work on improving the system, based on client needs. They should be to discuss new functionality and any challenges with implementing system enhancements. Ask any potential vendor how often they meet their clients for discussing such issues.
Other factors (past experience, etc.)
• Consider vendors past experience. How efficient they are in research and development of new technologies? How effective are they are in knowledge transfer?
• References would assist in choosing the right web host. This will provide appropriate insight to what a relationship with the vendor will be like in the future.
Pricing structure
• Pricing structure should be flexible for each client. Depending on size and need, each contract can vary greatly. Terms of payment should also be flexible in order to allow companies of all sizes to find a system that works for them financially. A CMS with many users should cost less per user than that of one with fewer users.
Following these points can help evaluate the claims management system (CMS) quality parameters, and check how well it suits your business.

JDi Data Corporation is providing insurance claims software for 30 years. The product suite includes workers compensation software and claims management systems for property and casualty, medical malpractice, risk managers, third party administrators, etc. JDi Data has built a reputation in quality claims management software with emphasis on complex litigation.

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Insurance Regulatory Bodies and Legislation

The insurance industry in Australia has many industry specific regulatory requirements. These can be divided into three areas:
Prudential regulation of insurance companies in order to ensure that they have sufficient assets to satisfy all legitimate claims.
• Financial services regulation of all those advising and dealing in insurance products.
• Contractual regulation so as to ensure that there is a reasonable balance between the interests of insurance companies and all of those that they insure.
Three main bodies regulate these areas within the insurance industry:
Australian Prudential Regulatory Authority (APRA)
• Australian Securities and Investments Commission (ASIC)
• Australian Competition and Consumer Commission (ACCC)
The prudential aspects of general and life insurance are regulated by APRA; matters relating to advice or disclosure of insurance products sold are regulated by the ASIC; and the ACCC has a regulatory role with respect to market competition and anti-competitive conduct by companies.
An outline of each regulatory body is provided below:
APRA - Australian Prudential Regulation Authority
APRA oversees banks, credit unions, building societies, general insurance and reinsurance companies, life insurance, friendly societies and most members of the superannuation industry. APRA is funded largely by the industries that it supervises and aims to establish and enforce prudential standards and practices designed to ensure that financial promises made by institutions are met within a stable, efficient and competitive financial system.
ASIC - Australian Securities and Investment Commission
The ASIC is Australia's corporate, markets and financial services regulator. The ASIC is an independent Commonwealth Government body that is required to ensure that Australia's financial markets are fair and transparent, supported by confident and informed investors and consumers.
ACCC - Australian Competition and Consumer Commission
The ACCC promotes competition and fair trade in the market place to benefit consumers, businesses and the community. It also regulates national infrastructure services. Its primary responsibility is to ensure that individuals and businesses comply with the Commonwealth competition, fair trading and consumer protection laws.
The ACCC enforces the Trade Practices Act 1974 (renamed the Competition and Consumer Act 2010 on January 1, 2011). It is designed to protect consumers in their dealings with business and provides a framework for:
• consumer rights
• how businesses should act when selling goods and services to consumers
• steps consumers can take to resolve a problem or complaint
• how to shop safely to reduce the chance of a problem arising
For further information on our regulatory requirements, please refer to a Financial Services Guide.

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Understanding the Necessity of Acquiring Your Own Insurance Policy

Understanding Insurance Claims
An Insurance Plan can get us off our worries. May it be an Educational Plan, Health, Life, Auto, Accident or Retirement Insurance Plan. Living in a country where everything is fast-paced, having an Insurance Policy is a necessity. The absence of these much-needed Plans could cause you a lot of troubles. Imagine, what to do when someone in the family is sick? Paying your hospital bills could be worrisome and how would you send your children to school without an Educational Insurance?
Some people have different kinds of Insurance Plans to secure their life and that of their family. However, an insurance claim also provides negative feedbacks that discourages people from thinking of the necessity of acquiring an insurance Plan. Definitely, an Insurance Plan means benefits but somehow, claiming those benefits could be tedious and time-consuming. Insurance claims need not give us so much trouble if we just understand how Insurance companies work on our Insurance claims. So to fully understand issues and save us a lot of troubles claiming our insurance, let us take a look on this.
How to File Your 4 Important Insurance Claims
Filing your Auto Insurance Claim
1. Assess if the Claim is Worth the Trouble
Before filing for an auto insurance claim, decide if you want to file a claim or not. If you think you can afford to pay for the damage, no matter who is responsible for it, then try not to make any claim. What is important, according to a Personal Insurance Expert, you need to keep your Insurance Record clean.
2. Get the Accident Document
It is very important to document every detail of the accident and get witnesses to back up your story afterwards. A Police record on the scene is a relevant document you must have to support your claim.
3. File Claim Immediately
You don't need to lose time in filing your claim. Question as to who is responsible will be taken care of by your Insurance Company.
4. Expect a Call Anytime
Expect a call from the other driver's Insurance Company to interview you on your version of the incident. Make sure you document the conversation and don't forget to ask the agent's name.
5. Get Your Car Fixed
After your claim is approved, then you can have your car's body fixed in case of a damage. The Insurance Company will assess the damage or ask you to send your car to any car shop of their choice to get it fixed.
How to File Your Home Insurance Claim
In case of a disaster which left you and your family homeless, file your Home Insurance Claim. As you file your claim, be sure to have your Insurance Policy with you. In case you were not able to have your copy available after the disaster, at least know and remember your Insurance Company's name and contact numbers. It is not always relevant to remember only your agent's name for sometimes, he could represent various companies.
Prepare a Quick Household Inventory
It's always better to take a video of your whole household belongings every time you acquire a Home Insurance Plan. Keep a copy of this record and keep it in a safe-keeping vault outside of your house. It's always advisable to keep a bank deposit box for important documents like Insurance Policies, Property Title, etc.
Notify Your Insurance Company ASAP
It is important to notify your Insurance Company as soon as possible for the reason that you may have to avail of the Loss-of-Use Benefit in your policy if you have this feature. This could cover living expenses outside of your home while it is being repaired such as hotel bills, meals and other cost of living expenses. This will entitle you to receive immediate cash needed for your bills.
Start Filing Your Claim
You can't have your claim until you have everything properly documented. So, it would be hard for you to have a documented list of your household belongings if you don't have access to your damaged home. Only when you can gain access to your home once again could you properly document it. While you are waiting for the approval of the claim, you may make minor repairs but be sure to record every disbursement you make. Don't make any major repairs until your claim is approved.
How to Hire a Contractor for Insurance Claim
Find a reputable contractor to take care of your building or repair needs. A lot of contractors would always grab a chance like this to take advantage of your anxiety. They can always stretch your budget beyond the level of reasoning.
How to File a Life Insurance Claim
Filing for an Insurance Claim after the death of a loved is not really easy. However, it is at this point in life when you have to be practical. You need money more than anything to pay off the funeral cost, bills and even the family needs. It is hard to be left alone and face all these problems but you have to be thankful if the deceased love one had prepared you for times like this. As a survivor, we sometimes worry about things like these but a Life Insurance Plan is designed to give us less worries and ensures the deceased family that we won't have to deal with the financial problem as we grieved over the loss of a loved one.
Find the Life Insurance Policy
The Policy is an important document granted to the Policy Holder. This is badly needed when filing for an Insurance claim. Be sure to look for it if the deceased party had failed to inform you where he had kept it. You may keep in mind that this is a very important document, so the keeper might have kept it in a place not easily seen or recognizable. You may look in a plastic container or any sealed container large enough to contain it. It could also be kept in a small drawer of a cabinet in your head board or lamp stand cabinet.
If you can't find the Insurance Policy but you are sure that the decease is an Insurance Policy Holder, you may write to the American Council of Life Insurance (ACLI).For a small amount, the ACLI will conduct a search to find the Policy. The address is 101 Pennsylvania Avenue, NW, Washington, DC 20004-2500. Don't forget to include a self-addressed, business-sized envelope.
Contact the Company's Number Listed in the Policy
Try to contact immediately the contact number or numbers listed in the document. If you personally know the authorized representative or agent, you may as well contact him directly and tell him that you want to file a claim. The company's agent will always be ready to assist you in your filing. He will be providing you with forms needed for the application. Wait for any instruction that the Insurance Company will provide you.
Fill-up the Necessary Forms and Submit Requirements
After receiving the necessary form needed for application in filing for the Insurance claim, fill it up with all the needed information. Provide also the other requirements needed upon submission. The Death Certificate is the very basic of all requirements you may need to provide together with your Application Form. Decide How you want to Receive the Proceeds from the Life Policy. You may choose to receive the proceeds in lump sum, or opt to receive it in a form of monthly pension or simply leave the money in deposit for it to earn interest and dividends.
Wait for the Release of the Funds
Expect that your fund's approval for the claim will take more than a month to process as the Insurance Company still have to validate information relative to your application.
How to File Health for Medical Claims
If you have to pay for your medical bills, then you have to file for your Health Insurance Claim. Here are some helpful tips in making your claim:
Keep an Itemized Report
Be sure to obtain all receipts and necessary statement of accounts issued by the doctor or pharmacist. Summarize it, so it could be easily understood by the Insurance Evaluator. Attach it to your Application Form.
Fill-Up Your Claim Application Form
Contact your Health Insurance Company as soon as possible. You may get your Application Form directly from them after declaring your desire to file for a Health Insurance Claim. The Application Form is easy to fill-up but someone from the Insurance Company is sure to assist you if there are some items in the Application Form that you don't understand.
Scan or Duplicate a Copy
After filling up your form and submitting to the Health Insurance Company, be sure to scan it or have your duplicate copy to keep. This will keep you from inconvenience in case of loss or error in filing. You can easily file it again when needed. Review Before Submission. File your claim as soon as possible. Ask for assistance or inquire for any additional instruction or requirements. Ask how long it will take you to wait for the result and be sure to make a note of it in your calendar. If they failed to contact you on the given date, be sure to contact your Health Insurance Agent immediately.

Filing for an insurance claim can be tedious but in today's world where everything is fast-paced, having an Insurance Policy is becoming a necessity. Here is your guide on how to file your Insurance claim with lesser time, effort and troubles.

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3 Major Advantages of Using an Insurance Broker Vs An Insurance Company

When looking to purchase insurance, it can be confusing as to what company is the best to buy your insurance from. If that isn't bad enough, you also have to decide whether or not to buy your insurance from an insurance broker or an insurance company. There may be differing opinions when it comes to this because people have had different experiences.
Below are 3 major advantages of using an insurance broker vs. using an insurance company:

1. Insurance Brokers have the ability to offer you an entire host of insurance products for you to choose from. An agent does business with one company, so they are only able to offer you what their company has available. Insurance products can vary considerably from one insurance company to the next. With a broker, having the ability to choose from many different products allows you to choose a policy that is adequate enough for your particular profession. For example if you are a software developer, then you can get insurance that fits the needs of a software developer, or a telecommunications company etc.

2. A broker is licensed to provide advice. Insurance companies (and their agents) can only provide general advice on the specific product(s) in which they offer. A broker has to have extensive training (minimum industry requirements apply) and experience to be able to provide advice and broking services, so you can have that peace of mind that they really know what they're talking about in terms of the insurance policy that will adequately cover you.

3. Brokers also analyze the type of business that you're in. It is their responsibility to look at that business and determine what coverage is adequate and endeavor to source a policy in the market that provides the most appropriate cover available. This does not happen when dealing direct with an insurer or an insurance agent. With an agent, you are given options and it is up to you to determine what coverage is adequate for your business. They do not have a responsibility to ensure that you're not going to lose your home if you get sued for making a mistake in your profession.

It is easy to see what the advantages are regarding the insurance broker vs. insurance agent debate. The broker really does have your best interest at heart. That is why insurance brokers look after over 80% of business owner's insurance needs in Australia. They have great reputations for making sure that their clients have what they need.
So if you're searching for professional indemnity insurance, look for it from an insurance broker. You get better service, better treatment, and you have more policy coverage choices.

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Surety Insurance May Give You Peace of Mind

In a world where unforeseen consequences can lead to costly damages and potential lawsuits, managing your risks is an absolute must. When looking for ways to mitigate risk in an investment, such as a car, house, or expensive work of art, people often turn to major insurance companies. In theory, paying a little each month can protect you from sudden financial disaster in the future. While these companies have good intentions, the reality is often much less idyllic. Companies often try to deny claims or take forever to process payments, leaving you stuck with a mountain of debt while you try to keep your investments afloat.
Contract Work
Particularly in contract work, standard liability coverage often leaves much to be desired. When allowing a contractor to work in your home, install an air conditioner, or run new power lines, you are taking a huge leap of faith that the company will behave ethically and do their work up to code. While most reputable companies carry liability, there is simply no way to guarantee that their coverage will provide you with the compensation you need when their mistakes cost you thousands of dollars in damages. To mitigate this risk, surety insurance has become a preferred means of protecting your investment. This type of protection, often called surety bonds, offers a unique method of controlling the way funds are distributed in the event of a disaster. Rather than spreading settlement payout across a myriad of clients, surety insurance is a three-way agreement between a customer, a contractor, and their bondsman. With stricter guidelines and a clear understanding of responsibility, these bonds allow payment to be treated like a bank loan rather than a sudden cash windfall. By cutting out the major corporations, homeowners are able to hold contractors accountable and seek damages as soon as they know shoddy work has been performed rather than after catastrophe has struck.
Public Works
Surety insurance is also beneficial in the case of public works. When building a park, statue, or other municipal attraction, city and town governments rely on one major overseer to manage a large number of subcontractors. Often this primary job lead is the only point of contact for the various electricians, sculptors, and carpenters working on the job site every day. While this manager hires out the work and can make agreements for compensation on his own, he will not be the one receiving complaints should any subcontractors not receive their due. Dissatisfied workers will climb as far up the food chain as they can and head right for the biggest wallet. Liability protection held by a contractor won't save the city in this instance; only a qualified bond will do the trick. The township can activate their agreement and settle payment directly with the workers without any scandal or lawyers whatsoever.
Whether you are building an addition to your home or rebuilding the town square, make the right decision and cover yourself with surety insurance.

When considering the benefits of surety insurance, Albuquerque residents can learn more safeguarding their investments at http://www.mianm.com/surety-bonds-insurance/

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A Quick Guide to Trade Package Insurance

Most business owners are aware that they must have certain insurances in place to comply with local and state laws. Arranging multiple insurance policies from different providers can be complicated and time consuming. However, arranging your business insurance need not be stressful as many providers now offer a trade package insurance. This can provide coverage for all of your insurance needs without prompting a mass of paperwork and stress.
What's Included?
A trade package insurance can be tailored to suit the specific needs of your business. It will generally include the mandatory insurances such as public liability and workers compensation. However, it could also include equipment insurance, commercial vehicle insurance and even personal accident and injury cover. The most effective way to arrange the right trade package insurance is to speak to your broker and discuss your specific requirements. This will enable the broker to compile a tailored package to suit your needs.
The Advantages:
The most obvious advantage to this type of deal is time efficiency. Instead of speaking to numerous brokers and insurance providers, you will only have one point of contact, reducing form filling and time spent arranging quotes. However, there are additional benefits including discounts and special deals.
Many providers offer extremely attractive rates for package deals as you are purchasing more comprehensive insurance coverage. This type of arrangement can also reduce your ongoing administration stress. Since all of the insurance you required is assembled into one package, you need not track the policy renewal dates of multiple policies. You can simply arrange to renew the package each year and adjust your coverage according to your changing needs.
The Disadvantages:
While this type of deal can be extremely attractive, you will still need to check the details carefully. You may find certain elements of the policy cheaper elsewhere, but you would need to consider the time you would need to spend shopping around and filling in additional forms. However, if you choose a trade package insurance, you will need to choose a reputable established provider as all of your coverage is within the package deal. It is important that you have confidence in your deal, so be sure to choose a reputable broker and provider for ultimate reassurance.
If you are interested in learning more about a trade package insurance deal, contact us. Our specialist advisers would be delighted to discuss the specific requirements of your business and help you to secure the most cost effective deal.

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Enjoy Peaceful State Of Mind With an Appropriate Insurance Cover

Life is beautiful and happening only when one enjoys perfect peace of mind. A general insurance secures a person against number of risks and provides adequate security for the unforeseen events of life. When one avails for a cover, he stands guarded against losses occurring in case of events like, fire, marine, motor, accident and other miscellaneous non-life insurance. There are numerous benefits associated with an insurance cover. Also, buying the best general insurance plan yields significant tax benefits to the customer.
Evolution of transforming technologies has made buying and renewing of policies really easy. A person interested in buying the best general insurance can conveniently make a purchase through internet. All the key players of the insurance industry have their respective web portals, where in is provided every information relating to different plans. Customers can read and understand the plans being offered and make a wise selection. Online facility bestows on the customer, the power to choose, and thus he is able to avail the best general insurance plan that perfectly fits in his budget.
An insurance seeker these days is not even required to go to a company's office or bank, to make a payment for the policy. Rather they can do the same by using the advanced money tools. Net banking and credit cards have made the task a cake walk for the customers. Government has laid down strict guidelines for all the players in the industry to follow highest security standards. The website portals of companies have perfect security arrangements and are SSL certified. Thus your investment stays secure and yields you maximum benefits in hour of need.
Companies now days issue digitally signed insurance policies to the customers, opting to buy the best general insurance plan online. A customer is thus able to access the policy papers at will from his desktop, laptop and even mobile phones. In case of urgent requirement of policy papers a printout would do the job. The copy of the digitally signed insurance policy is considered as authentic and reliable as the original.
Life is unpredictable and a lot of risks surround it. A person should always choose the best general insurance plan for himself and also suggest the same to people he loves. Spending in insurance is a positive and genuine move and also, this industry has enjoyed the same reputation, for centuries. The sector is growing at a rapid pace and competition is really stiff in the market. Everybody is trying to incorporate as many riders in their plans as possible to make their offers lucrative and appealing. While pursuing an online research regarding a plan, the customer should pen down the insurance quotes of various companies. This helps in perfect evaluation and analysis of policies and packages.
There has been noticed a sharp rise in the number of frauds and malpractices in the industry. An online research saves you from falling in a trap. It's always preferable to buy insurance from a renowned and recognized player of the industry.

Sania Asri is an avid writer with a keen eye on the latest happenings in the insurance market. She advocates the strong necessity of having financial security in her articles and also promotes the importance of having insurance which can be a boon to common man who are always under the cloud of risks.

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Policy Features and Claims Examples

1. Breach of Confidentiality
Covers a failure to preserve the confidentiality of information acquired during professional appointment and where the confidential information is used to the detriment of the client.
Example: A weight loss consultant who posts images of a high profile client's "before" and "after" photos in their underwear on the Internet, is sued for future loss of earnings.
2. Breach of Duty
Covers any breach of duty (including breach of duty of confidentiality), in the provision by the insured of the professional services stated in the policy schedule.
Example: A management consultant advising on implementation of accreditation management systems for nursing homes, whose client failed to obtain nursing home accreditation following inadequate recommendations.
3. Dishonesty or Fraud
Covers claims by a third party for loss alleged to have resulted from a dishonest, fraudulent, criminal or malicious act or any breach of fiduciary duty committed by any person entitled to indemnity under this policy. No cover is intended for a loss suffered by the insured.
Example: An accounting firm's staff member was found to be stealing money from the firm's clients, to support a gambling addiction.
4. Enquiry (or Enquiries)
Covers legal costs and expenses for representation of the insured, regarding any legal or quasi legal enquiry the insured is legally required to participate by reason. The body conducting the enquiry (including regulatory, licensing or statutory body) has legal jurisdiction over the insured.
Example: A veterinary clinic was requested to attend disciplinary proceedings of professional misconduct for allegedly killing the claimant's dog. The insured was able to receive assistance with the conduct of the investigation.
5. Loss of, or Damage to Documents
Covers loss of documents, or damage to documents, that were in the insured's physical custody or control at the time of the loss or damage.
Documents include electronically stored data, software or computer programs for, or in respect of, any computer system that does not include bearer bonds, coupons, bank notes, currency notes, or negotiable instruments.
Example: A professional association for the promotion of the Study of Human Reproduction, responsible for the accreditation of fertility clinics. An accredited clinic was found to have misplaced records of an ex-patient, leading to now scrutinising the clinic's accreditation.
6. Reinstatement of the Policy Limit
Once the policy limit is exhausted, it will reinstate to have that limit available for additional claims within the same policy period. Therefore, the amount paid for all claims covered by the policy, is up to a maximum of twice the policy limit in the policy period. However, the policy limit is the maximum amount paid for any one claim or a series of claims arising from the same act, error or omission.
Example: A civil engineering consultant who received two claims within one policy period, exceeding the $1,000,000 policy limit. The total amount paid for the two claims covered by this policy is $1,434,000 - the policy limit reinstated after $1,000,000 exhausted. The total claim investigation costs paid for the two claims covered by this policy was $1,447,000 - the claim investigation costs limit was reinstated after $1,000,000 exhausted.
7. Unintentional Defamation
Covers unintentional defamation, whether libel (written or published) or slander (spoken) committed by an insured person.
Example: Professor of a University issued a memo describing an associate professor as "professionally incompetent". This was passed to the associate professor and several others.
8. Unintentional Infringement of Intellectual Property
Covers unintentional breaches of intellectual property or moral rights, under the Copyright Act 1968, by the insured or an insured person. Intentional breaches or acts that cause a third party loss, with reckless disregard for the consequences, are not covered.
Example: Alleged copyright infringement on a townhouse design.

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8 Major Income Protection Myths Debunked

Insurance products aren't the easiest of things to understand and income protection insurance is no exception. With cumbersome key facts booklets and the media citing stories of context-specific consumer-insurer battles, it's no surprise that many people misunderstand exactly what it is and what it specifically offers.
Outlined here are eight major protection myths demystified, so that next time you hear something about income protection, you'll be able to separate fact from fiction.
Myth 1: It doesn't pay out
Provided that the policyholder has kept up-to-date with their monthly premiums, and has given truthful personal information from the outset, claims are nearly always paid out. In fact, last year in the UK, insurance providers paid out over 90% of successful claims. If you're still unconvinced and want to double check specific insurer payout rates, most of them now provide easily-accessible claim statistics on their websites.
Myth 2: It's too expensive
This myth is purely subjective. If you were a smoker in a high risk job and wanted a very high level of cover, your premiums would, of course, be costly. For the majority however, income protection is affordable and can cost as little as 30p per day. If you want significantly lower income protection insurance quotes, consider buying through a commission free broker or by extending your deferral period - the amount of time between a claim being made and the money being paid out. Premium rates are calculated based on your age, health, smoker or non-smoker and occupation, so if you're serious about cutting the costs of premiums, it may also be beneficial to adopt a healthier lifestyle.
Myth 3: It's a waste of money
When it comes to ill-health and injury, people can feel a sense of invulnerability, and so it's all too easy to see how this kind of myth circulates. But ask anyone who's used their income protection policy, and they'll be the first to debunk this notion. If you were unable to work due to illness or injury, the monthly instalments provided by income protection could become invaluable, affording reassurance that bills, loan repayments, and any other expenses could continue to be financed during your time off work.
Myth 4: It isn't necessary if you receive benefits
Statutory sick pay and other benefits tend to pay no more than £400 a month, which for most, would not cover the rent or mortgage. An income insurance policy however, would pay up to 75% of your usual income, comfortably covering the costs of your living.
Some employers will provide a more comprehensive benefit than statutory sick pay. Therefore, it's important to check if this applicable; as this may mean that your deferral period can be extended which can, in turn, lower premiums.
Myth 5: It's the same as PPI
Although they may sound similar, income protection and payment protection insurance (PPI) are not the same products. PPI insures a specific loan repayment, whereas income protection is designed to cover a portion of your income. If you found yourself unable to meet your mortgage repayments due to ill health, PPI would be on hand for this, but what about all the other inevitable expenses? This is where income protection comes in.
Myth 6: It's not necessary if you have critical illness cover
Whilst critical illness insurance is important, unlike income protection, it would not pay out if you were unable to work due to injury or if you developed a non-critical illness. For this reason, income insurance may be worth considering along with critical illness cover, as this would cover a wider range of eventualities.
Myth 7: It's not for you if you're self-employed
Self-employed people can get income protection insurance, but be prepared to provide the relevant documentation. If you're self-employed, your income may be more variable, so it would be beneficial to regularly review your policy to ensure that you're covered for the amount of money you require.
Myth 8: It takes too long to apply
Whilst this may have been true in the days of dial-up-internet and telephone brokers, thanks to user-friendly websites, it is now easier than ever to search, compare and buy income protection policies.

If you're interested in buying Income protection and want the best deal possible, consider using a commission free broker like Best Price FS to compare income protection insurance quotes.

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