Thursday, February 26, 2015

Why Companies Need Contractors Liability Insurance

Regardless of if, you are a standard specialist or a sub-contractor, contractors liability insurance is one kind of insurance policy plan that you cannot afford to do company without. Not only will almost all jobs require your company to provide proof of general liability insurance before allowing it on their residence, but also ignoring to protect your resources with this wide-ranging kind of company insurance policy leaves you exposed to sometimes-catastrophic obligations if incidents or accidents happen during a job.
Contractors liability insurance policy has a number of important types of insurance coverage, that jointly guarantee witnesses, customers, sub-contractors, and employees against these types of claims:
* Marketing Harm (i.e., libel and slander)
* Individual Injury
* Physical Injury
* Items and Completed Operations
* Property Damage
In every case, the contractors liability insurance contains legal and judgment costs caused by statements being registered against the covered specialist. This generally contains the other entire person's hospital costs, earnings lost, and all suffering and pain that could have been sustained.
Examples of the Types of Claims Covered
Advertising Injury
Such a claim is protected by many contractors' general liability policies, but it's probably one of the most rare to actually be registered. Marketing injury is defined as damage continual due to another person's use of slander or libel against the complainant. If you are a specialist, one example might be a sub-contractor submitting an claim against a standard specialist on the assumption that his professional reputation and earning potential has been damaged by damaging reviews and advertising started by the normal specialist.
Individual Injury
A couple of the more-common statements made against contractors, bodily injury and accidents statements happen anytime a third celebration (e.g. a customer or bystander) is unintentionally harmed on a job website as caused by negligence on the part of the specialist. Harm statements sometimes can include psychological and psychological injury that outcome from either irresponsible or purposeful acts by the accused.
Damage to Property
The most-prevalent claim observed on job websites, residence damage statements develop from damage or loss of residence because of the covered person's activities. Such actions might be either purposeful (whereby the harmed celebration may additionally submit an accidents claim for psychological and psychological injury) or random, and are occasionally registered due to loss or accidents that happen after the specialist has already completed the project. One common illustration of this would be a plumbing technician who is charged because water pipes he installed begin dripping and causing harm to the walls and flooring near them.
Products and Finished Services
Products and completed solutions insurance policy is very critical to contractors, because it contains the statements that happen should a client considers that a job was not done properly. This might be by way of a foundation that eventually divides or a wall that breaks at some point after a job has been finished.

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Monday, February 23, 2015

Big Tax Victory and an Important Testimony: NFIB's Week In Small Business

This week (2.19.2015) in small business, NFIB celebrates a big win in the U.S. House with the passage of H.R.636, a bill that makes permanent small business expensing at $500k indexed to inflation. Also, NFIB's Legal Center testified against the NLRB's Ambush Election Rule, and the IRS made a surprise announcement about HRA penalties.

Friday, February 20, 2015

California Low Cost Auto Press Conference

Commissioner Dave Jones and Senator Ricardo Lara from California's 33rd District discuss the need for all Californian drivers to be insured and the importance of California's Low Cost Auto Program.

Tuesday, February 17, 2015

Guide to Buying Contractors Insurance

As a contractor, a lot of responsibility falls on your shoulders from making sure that all the legal work is accurate, that the project is being worked on, and the client's requests are being made. One more thing on the list is getting contractors insurance. If you live in Australia, then you know that anything from failed projects, damages to employee injuries will be on you. That's why contractors need to protect themselves at all costs.
There are many things to consider when buying contractors insurance. As a contractor, you have to protect your property, equipment, insure against failed projects, and also make sure you're not liable for damages. Many different types of insurance should be looked at and in most cases a combination of multiple policies will be needed to protect yourself.
You need to start by looking at liability insurance. As a contractor, anything can happen on the job. Somebody's property may be stolen, an employee can get hurt, or something might even happen with pedestrians. You never know what you may be liable for so it's important that you start here. You can choose between employer's liability insurance and public liability insurance depending on your needs.
Then you should consider professional indemnity insurance. This is an important insurance for contractors. If you make a mistake on your services, you will be liable for the damages. In many cases, it will not be your fault. Because you are a contractor, any mistakes made by your employees will be your responsibility. So if the worst case scenario happens, you will need to be insured as the client will be able to sue you out of a lot of your money. This is one of the most important contractors insurance that you can buy since you will be managing many employees and won't be able to oversee every aspect of a job.
Income protection is another type of protection you will need. If you get hurt or fall ill, you won't be able to run your business. This usually means no income until you get back on your feet. Income protection will cover part of your costs and you'll be a partial income until you can operate your business again.
Other insurance types include disability insurance, tools of trade insurance, as well as life insurance. It's important that you cover all your bases. While many contractors think that some insurance plans are a luxury, they are unaware that one law suit can ruin their finances, even close down the business.

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Wednesday, February 11, 2015

Auto Accident

This video is from the Insurance Information Institute. For more information about insurance, go to the I.I.I. Website at

Sunday, February 8, 2015

Road Rage

The American Automobile Association (AAA) has released the results of a nationwide survey of drivers which asked how they feel about tailgating, making rude gestures, and passing on the right. Whey the survey revealed is that aggressive driving means different things to different people. Carolyn Gorman, Vice President, Insurance Information Institute, says that people's perceptions of your driving can trigger an aggressive driving incident. The National Highway Traffic Safety Administration (NHTSA) says people can protect themselves from aggressive drivers by remaining calm. NHTSA recommends you leave a lot of travel time, look for alternate routes if there is a lot of traffic, and learn to be late. Lon Anderson, American Automobile Association says those surveyed list tailgating, passing on the right and making rude gestures as classic examples of aggressive driving.

Wednesday, February 4, 2015

Employee Theft—Stop the Caper

Employee theft takes a huge chunk out of small business profits every year. Learn the ins and outs to stop the heist before it ever happens.

Sunday, February 1, 2015

Avoid the Blitz - Super Bowl Sunday DUI Prevention

California Insurance Commissioner Dave Jones speaks with CHP Assistant Chief Chris O'Quinn and Southern California Auto Club CEO Bob Bouttier to discuss the importance of being safe this Super Bowl Sunday.