Saturday, January 30, 2016

Stay Safe And Be Safe With Contractors Insurance

Why should anyone buy contractors insurance? For the simple reason that accidents do happen even in the best of work environments and while damage to the property can sometimes be compensated to satisfaction, loss of human life and/or permanent disability cannot. Contractor insurance would in such circumstances, at least ensure that the next of kin is taken care of financially at least. Why this type of insurance is a must-have no matter how great the workers or the site are:

1. Protects the contractor - just as its name mentions, it does protect the contractor from being sued out of his or her existence when an accident happens. And accidents do happen; all the time. Construction is such a risky job that always can have something develop. A snag here, a little negligence there, and you can have an accident in any type of setting. Any such accident can create havoc with the property and lives of the workers. Why take the risk? The insurance would ensure that every one is as happy as possible under the circumstances and the monetary damages are reduced to next-to-nothing.

2. Protects the worker - any worker who get injured or killed in the event of any such accident is protected by the insurance. In the event of his or her death or permanent injury, this insurance would help the person and/or his family to be financially self-sufficient. It may sound a little mercenary in the beginning, but it is important that workers are insured so their families would be taken care of while the liability with the contractor remains at the minimum.

3. Protects the property - when accidents happen, you may have days perhaps even months of work destroyed in one shot. The insurance see to it that the money thus wasted would be reimbursed so al you would have lost would be the labor charges. There are plenty of problems that can develop just as you walk or climb the scaffolds while overseeing the construction project. Having insurance against such eventualities would make the contractor's life much easier.

4. Disputes - there would be times when disputed would arise with the regard to the construction. In the same manner, this too would be covered by the insurance so even in case the contractor is sued; there is indeed nothing to worry about.

5. Any other unexpected problems - there would be plenty of other problems that no one can foresee or think about. Insurance covers all those problems as well. In other words, whatever happens to the work of the contractor once it is insured is no longer the contractor's worry, but that of the insurance company.

The above are enough reasons to take out insurance if you are going into this business. It is wise to stay insured until everything is over so nothing could spring up on you and leave you uncovered and vulnerable. The best part of the deal is that the insurance is very flexible in terms of budget; ensure that you discuss with the agent at length so you could find the best match.

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Wednesday, January 27, 2016

The State Of Small Biz

While there are definitely areas in this country that need fixing, owners—not surprisingly—have some ideas about how to get things back on the right track. And the New Year might be just the right time to effect change.

Sunday, January 24, 2016

Teen Drivers: Stay Safe Behind The Wheel

California Department of Insurance presents a video public service announcement for teen drivers.

Thursday, January 14, 2016

What Is An Annuity?

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

Monday, January 11, 2016

How Much Will Obamacare Cost You in 2016?

The most controversial portion of the Patient Protection and Affordable Care Act ("Obamacare") is the individual healthcare mandate--the requirement that most legal residents of the United States have at least minimal health insurance coverage. The penalty for not having insurance reaches a statutory high this year, yet many people don't understand how it works. Beth Milito of NFIB's Small Business Legal Center gives an overview of the basics. Watch more:

Friday, January 8, 2016

Understanding Contractor Insurance

Almost all companies, regardless of their size or trade, are lawfully required to carry adequate insurance policies. This is true for huge corporations or tiny enterprises, and is equally as effective for each. Covering potential eventualities is obviously what insurance itself is based on, and in the modern day business world or networking, competing and exchanging, the need for professional insurance is vast.
When discussing contractors, the aspect of insurance is often overlooked, and the importance of contractor's carrying cover is often underestimated. Many are practically unaware of what contractors actually are, some treating them as glorified employees or simply umbrella company operatives. To shed a bit of light on this however, contractors are fundamentally business owners, and because of this, contractors require small business insurance policies perhaps unknowingly by others.
Take Employer's Liability Insurance for example, a policy that is actually often required by law to be purchased by a company. Effectively, this policy covers a company against claims of injury or accident caused to any employees of that company due to a situation arising as a result of their employment. This basically means that if an employee gets hurt whilst at work because they were doing their job, the insurance would then cover the company. So, taking into consideration the fact that our nation's contractors are in fact business owners (and not simply overpaid employees) the need for a policy such as Employer's Liability Insurance suddenly becomes apparent.
Obviously contractors are not your usual business enterprise, they commonly do not have a hefty work force, they rarely work from a static office and they do not drive a van labelled 'Larry LTD'. This being said, contractors are still working through limited companies, therefore they are in fact a business, and it is this point that must be made known. Employer's Liability Insurance may seem like a pointless purchase for contractors by some, but often sole traders do in fact employ others through their companies. Take the previously mentioned and very much fictitious 'Larry LTD' as an example. This company would work as a limited company, and Larry would be hired on behalf of his company by businesses requiring his expertise. Obviously at this point, Employer's liability insurance would not be particularly necessary, but when you mention the fact that 'Larry LTD' employ's Larry's wife to oversee his finances, the situation changes (regarding mandatory insurances). Because the company now has an employee of sorts, the existence of employer's liability cover becomes essential, not only because it would cover any potential eventualities, but because companies are lawfully required to carry the policy if there are any other people working for the company.
Contractor insurance is a subject that unless working within the contracting field, is rather unknown. Although you may argue that this is as it should be, many professionals who are new to the contracting game are often stumped as to which insurances are necessary, and which they should be purchasing.

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Saturday, January 2, 2016

How To Avoid Fender Benders This Winter

Do you know the best way to keep paint-less dent repair, windshield and glass replacement, and collision repair bills to a minimum? Avoid collisions in the first place-some may say that's easier said than done, but a number of winter fender benders are caused by simple oversights that can lead to costly consequences. Fortunately, most car accidents aren't fatal. There are many more people bumping into each other at slow speeds in parking lots than going Dukes of Hazzard crazy on the highways, but that little scrape can cost a pretty penny.
Things get even more hectic during the winter holidays partly because of the ice and snow, and partly because people are battling the crowds to get to those Black Friday sales. Here's a refresher course on how to avoid fender benders and make sure the winter months are as safe as possible. With the cash you'll save from bumper repair, you'll have yourself a much happier holiday.
The Basics
Following distance plays a key role in fender benders-leave three to four seconds between you and the car in front of you, and a little more buffer space if weather conditions are iffy. However, drivers should be looking about 10 seconds in front of their vehicles. Scan the area around you and remember that situational awareness can help you avoid a number of accidents, whether it's the cat who's thinking about making a run for it (right in front of your car) or an SUV with a massive blind spot who has their reverse lights on.
It might sound counterintuitive, but try to keep brake use to a minimum. Many drivers rely too heavily on their brakes when the 10 second scan should be doing most of that job for them. Simultaneously, make sure you're letting other drivers know your intentions by signaling well ahead of time and anticipating where you'll be going next. If you know you need to take an upcoming exit, move into that lane in advance.
To Claim or Not to Claim?
Everyone wants to avoid insurance hikes, and it can be a tough call when the damage doesn't look very severe. If you do get into a small accident, it's impossible for anyone but a skilled collision repair professional to estimate the repair costs. Always exchange information, but consider taking in your vehicle for a free repair estimate before filing that claim. The repair costs might be less than your deductible, or just slightly over that figure-but the insurance hike might not make the claim worthwhile.
As we move full force into the holiday season, one of the best ways to avoid a collision is to simply steer clear of the busiest places. A super crowded parking lot with a generous sprinkle of holiday stress is a recipe for disaster. Keep your own stress levels to a minimum and shop during off hours or online, try to stick close to home if the weather gets too nasty and remember that defensive driving is key.

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