You may have recently purchased a new home, and are in the process of moving. As you prepare for the move, you’re likely also taking care of making your old home ready to sell. One important task that is often overlooked is vacant property coverage. Here are four reasons why you should consider purchasing insurance for your vacant home:
1. To Protect Your Investment
Your home is likely one of your biggest investments. A vacant home is still an asset, and as such, it should be protected in case of damage or theft.
2. To Avoid Liability
If someone were to get injured on your property, you could be held liable. Having insurance can help protect you from this type of financial burden.
3. To Cover Unexpected Expenses
If your home sustains damage while it’s vacant, you’ll be responsible for the repair costs. Insurance can help cover these unexpected expenses.
4. Peace of Mind
Knowing that your vacant property is insured can give you peace of mind as you move. You will be able to focus on settling into the new place and selling your old home.
Now that you know a little bit more about insuring your vacant property, you can make an informed decision about whether or not it’s right for you. Protecting your investment, avoiding liability, and having peace of mind are all important factors to consider.
Though there is no secret to success in the business world, establishing a concrete marketing strategy can be invaluable in many respects. However, a modern marketing plan needs to take a few specific details to heart in order to the effort to produce results. If you want to reach your goals, you absolutely want to look at your digital options. Building a marketing plan that factors social media into the mix, for example, is a surefire way for you to see the results you’re after. Consider these points to learn more.
Consider Your Audience
Building a social media marketing strategy is very simple. Essentially, you need to get the ball rolling by looking at your key demographics and pinpointing which social apps your customers tend to frequent the most. After this, you will have greater perspective on which social sites are worth your attention. Next, you want to begin researching your options with content. You can either create new content or curate a collection of links you can share. However you go about the process, it is good to have a backlog to begin with. Other options can include:
- Create a consistent posting schedule
- Research current trends in your industry
- Understand what your audience prefers
Review Your Options
While there are plenty of different angles you can consider when you’re looking to establish a digital marketing strategy, you absolutely want to factor social media into the mix. Learn more about your options and see how you can yield the best results from your efforts.
Bundling multiple insurance policies with one provider can have many benefits. Is bundling your insurance a good idea?
What is Bundling Insurance?
Bundling insurance is a practice where you buy multiple policies from one insurance company, allowing you to qualify for policy discounts. Insurance companies offer these bundles to encourage clients to buy more policies with them.
What Are the Benefits of Bundling Insurance?
There are many advantages to bundling insurance policies.
1. Saving on Premiums
An obvious benefit is the savings you are eligible for by buying multiple policies with a single insurer. Many companies offer serious discounts on bundled policies, and some companies offer discounts for multiple policies or bundles within the same household.
2. Pay a Single Deductible
Many companies offer a single deductible when you purchase multiple policies with them. This provides extra security in the case of a catastrophic accident that involves multiple claims. Paying one deductible for multiple policies keeps more money in your pocket.
3. Fewer Accounts to Manage
You may be able to have a single payment for all your policies. Additionally, you will only have one company, and perhaps one agent, to get to know and deal with for all your needs. Making your insurance easy to maintain and use is a huge benefit.
Owning a piece of property can be a big milestone in a person’s life. When you invest in real estate, it allows you the chance to grow your future in the way that you would prefer. Naturally, you don’t want to rush into the decision. Finding the right property starts with understanding a few basic factors dictating this industry. For one, you must consider how you plan to protect your real estate in the long run. Look over these tips and gain perspective on how to make the right choice for your future.
Looking at Value
There are many angles to take to heart when it comes to valuable personal property insurance. For one, you should always remain mindful of the perceived value of the real estate in question. Knowing how much the property should be worth based on current market factors can be invaluable in the long run. Naturally, you also need to weigh in details like how much the property has depreciated over time. By doing this, you will be able to find insurance that delivers on every front. Other ways to protect your property include:
- Investing in high-end security system
- Learning more about the surrounding community
- Establishing a maintenance routine
Reviewing the Options
When it comes to real estate, there are many ways to go about protecting your investment. Take time to look into your options with insurance and see how the right choice can make a world of difference.
Even if your insurance company offers several top-notch services and insurance products, the right sales approach and marketing strategy can either make or break your success in the industry. That’s why having a practical and truly comprehensive insurance sales plan is indispensable. Here’s how you can start planning out your company’s big-picture sales strategy.
Gather Detailed Information About Your Key Clients and Sales Demographics
In many cases, successful sales approaches hinge on knowing your clientele. That’s why you may choose to spend time gathering details about your core client base and your target sales demographics. Research several factors, including:
- Consumer interests
- Consumer preferences
- Age ranges
- Geographical areas
- Regional cultural trends
Create a Campaign That Draws on All Your Company’s Talent
Making use of all the talent at your company can help you brainstorm effective sales strategies. To do this, you should:
- Determine your goals and objectives for your marketing campaigns and sales approach
- Split up key tasks among several different staff members
- Preemptively address potential customer wants and needs
- Provide incentives, such as bonuses, to encourage employees to give the strategy their all
No matter what insurance products or services your company offers, promoting those products via a comprehensive and realistic insurance sales plan is essential. Make sure to do your research on your prospective client demographics and rely on all the talent at your company to maximize your sales strategy’s odds of leading the company to success.
When you run a business, it is important to take time and consider all of the risks that you’re likely to encounter. By thinking over these hazards, you will have a better time formulating a plan to protect yourself. Typically, the easiest way to accomplish this is by taking out the most appropriate insurance coverage. While having a General Liability policy is a great start, there are plenty of specific risks that you will need to consider in order to feel totally shielded from harm.
Review the Basics
There are a few key factors to think about when it comes to USLI insurance. Essentially, appropriate United States Liability Insurance reflects the exact risks that a business owner may experience in his or her industry. For example, companies situated on or near the water will usually need to consider coverage options that businesses located further inland don’t have to ever think over. Additionally, businesses in niche industries often require policy options that may not seem obvious at first. Working with professionals can provide you with in-depth insight into the matter. General options include:
- Workers’ compensation coverage
- Directors and officers protections
- Errors and omissions liability
Research Your Options
Protecting your business is far from a difficult endeavor when you know how to get the process started. Review all of your options and see how to put together an insurance policy that exceeds all of your expectations.
There are many different steps you need to consider when it comes to protecting your business and its assets. Though you might understand that the right insurance plan makes a world of difference toward your long-term success, you may not be familiar with some of the specific options available to you. In order to stay shielded from the unknown, you may want to take a moment to learn more about how a hammer clause in certain policies can be useful. When you want to enhance the coverage for your directors and officers, this is an option worth consideration.
What Is a Hammer Clause?
The main point to understand about hammer clause in D&O is that it is structured to handle any claims that might occur between the insurer and the insured. Since such disagreements happen all the time, you want to be certain that you are totally protected no matter what is on the horizon. A quality plan for insurance should address all industry risks, as well as any specifics that are unique to your exact organization. Areas to focus on can include:
- Workers’ compensation coverage
- Errors and omissions liability
- Commercial property liability
Understanding the Options
By dedicating time and effort to researching your options with insurance, you will have a better understanding of which choice is right for you. Take time to look into the details and see what steps you need to take for success.
Workers’ compensation insurance allows you to take care of your employees if they are injured, and you rely on your subcontractors to provide that protection to their employees. Unfortunately, if you’re working with a new subcontractor you don’t know well, there’s a chance that certificate of insurance isn’t worth the paper it’s printed on, potentially leaving you liable for workplace injuries to their employees. Protect your finances by preventing subcontractor work comp fraud.
Verify the COI and Company
When you receive a subcontractor COI don’t file it away without a second thought. Make sure it’s on the ACORD 25 form, indicated on the lower left-hand corner. Nothing should be handwritten except the signature. Verify that the insurance company information is correct, that the company is legitimate and the company’s rating is an A on ambest.com.
Verify Active Coverage
Besides checking the policy dates on the COI, verify that coverage remains active. Audit your sub’s insurance regularly during a project and before releasing final payment. If necessary, contact the insurance company or ask to be a named insured so you’ll receive notice of cancellation.
Ask for the Policy
Finally, ask for a copy of the policy so you’ll have details on coverage levels and carveouts of which you need to be aware. Make sure the provisions you’ve required actually exist.
Blank COIs are easily available online. Make sure you aren’t the victim of subcontractor work comp fraud by taking an active role in insurance verification.
As a general contractor, your van or truck is a vital part of your business. It carries the equipment and tools you need to get a job done and get paid. Are you confident the equipment attached to your vehicle is insured?
Be Certain You Are Protected
What happens to an attached toolbox or ladder that gets damaged in the event of an accident? You may have assumed that was a part of your policy, but you better be sure. Insuring permanently attached equipment is important to understand when it comes to protecting your business assets.
What You Should Insure
If you attach work equipment to your vehicle or purchase a new one fully loaded, take notice of each piece in order to protect the overall value. As well as a ladder or toolbox, you can also protect the following in case of damage:
- Grill Guards
Verify Your Protection
If you are not sure whether or not your permanently attached equipment is included in your original policy, don’t delay another day and call your agent. Verify what equipment can and should be insured to protect against financial loss.
As a contractor, your vehicle is a part of your business. Protect your assets so you don’t lose out on thousands of dollars your business needs.
Individuals serving as directors and officers (D&O) for any business can be held personally liable in certain instances if the organization they work for is sued. D&O litigation cost can be astronomical, so it may be wise to consider obtaining some insurance to offset the potentially steep costs.
What To Know
D&O liability insurance covers certain entities and certain people working for them in the event that they are sued. Directors and officers are covered for any personal losses under these policies. Additionally, the entity for which they work will be covered for legal fees and any other D&O litigation cost. Most policies will not cover fees associated with fraud or criminal activity. Typically an organization seeking $1,000,000 will pay between $5,000 and $10,000 in insurance premiums for D&O liability insurance.
Types of Coverage
There are three different types of coverage for D&O insurance. The first type, Side A coverage, covers directors and officers in suits where the company either cannot or will not pay for indemnification. Side B coverage covers the losses of those individuals when the organization refuses to grant indemnification. Side C coverage is also known as entity coverage and provides coverage for the business entity.
Since costs associated with D&O lawsuits can soar sky-high, it would be beneficial to many businesses to consider D&O liability insurance.