Toss on a life jacket and hit the water in your boat on a warm sunny day for recreational fun. The day is hot and the water is cool perfect for water skiing, tubing or swimming. Protect your boat and yourself against financial loss in the event of an accident. Recreational marine insurance programs provide owners with three key benefits.
Cover your liabilities in the event your boat hits another vessel whether due to a freak storm or plain bad luck. Instead of you having to pay the full amount, the insurance helps you cover the costs.
Repairs or full replacement of your boat can be very expensive. Insurance steps in and covers the costs of those repairs many up to the full cost of the boat. In addition, they often cover the towing and transportation of the vessel to the repair facility.
While no one wishes anyone to get hurt while out on the water, accidents do happen. The insurance helps cover the cost of treatment and hospitalization due to a boating accident.
Take advantage of these benefits provided by recreational marine insurance programs. They can save you money and time. Stay safe out on the water and enjoy the peace of mind of a solid insurance plan.
A well-kept and beautifully landscaped yard can be the pride and joy of a homeowner. While they look effortlessly groomed, landscapers, arborists and other “green” businesses understand how much hard work goes into maintaining it. There is a myriad of things that can go wrong when working in a yard. Massachusetts insurance agents provide policies that may offer financial protection that prevents enormous costs from devastating a small landscaping business.
Unfortunately, mistakes, accidents, and injuries that occur on the job may lead to lawsuits. Insurance agents offering specialized products for landscapers and lawn care companies can customize policies to cover situations from property damage and slip-and-fall accidents to Worker’s Comp and other common risks. General liability insurance can cover the cost of a third-party lawsuit over these issues as well as reputational damage.
Having the right tools, supplies and equipment are vital to the success of a lawn care related business. Property insurance can help cover losses as a result of theft, fire, vandalism and other specified events. Tools and equipment may include everything from rakes and wheelbarrows to computers and printers.
Business owner’s policies bundle property and general liability insurance, often at a reduced premium. Massachusetts insurance agents can help small business owners select the policies which best suit their needs. Commercial auto insurance, Worker’s Comp and inland marine policies may be added to provide the coverage you need and reduce unnecessary risk.
The dry cleaning industry has a strong financial responsibility to handle their customer’s garments without causing damages. For this reason, a dry cleaning service should be familiar with the most common causes of inconclusive dry cleaning insurance claims to avoid any damages.
1. Care-Instructions on Garment Ignored
Some garments are simply not compatible with dry cleaning methods and can be a common cause for unnecessary legal claims made against dry cleaner businesses. The best possible solution to avoid these types of issues is to be 100% confident that the care instructions for this type of garment are authorized for dry cleaning before servicing it.
2. Manufacturer Errors
More times than not, a garment may lose its color or prematurely fade after taken to a dry cleaner for service even if the care procedures are followed. Instead of paying costly legal fees, the dry cleaning service can send the damaged garment in to be inspected for manufacturer mistakes to avoid paying costly property damages.
3. Old or Pre-Damaged Garments
The fabric in a garment will become frayed or worn over time, especially if the customer dry cleans the article of clothing often. As a rule of thumb, a wool garment should not be cleaned if it has been worn less than 20 times or is not soiled thoroughly. Consider inspecting every inch of fabric for damage before agreeing to process their order to avoid dry cleaning insurance claims.
Every manufacturing company is unique, but all share a common worry; the need for comprehensive insurance protection. Coverage that may be enough for a normal business will not be sufficient for a manufacturing concern. It is for this reason that it is so important to consult with an experienced agent or broker when choosing a total plan of insurance for manufacturers.
Every business, including a manufacturing company, requires a core package of insurance coverage that includes property, commercial auto and general liability. Often called a business policy or a commercial package policy, this combination covers the loss or damage of real property, personal injury claims of customers or third parties and collision and liability involved with vehicles used to conduct company business.
And Much More
All fine and good, but insurance for manufacturers should include much more than standard business protection. Depending on your industry and scope of operations, your company may require some or all of the following:
- Product recall and product liability insurance
- Workers compensation
- Employment practices liability
- Directors and officers liability
- Manufacturers errors and omissions (professional liability) insurance
- Business interruption
- Equipment breakdown
- Pollution liability
- Selling price insurance
Don’t gamble the financial health of your manufacturing business. Determine your risks exposures and acquire insurance for manufacturers that provides comprehensive protection.
Yacht insurance is the insurance policy that provides liability coverage on yachts or pleasure boats. This type of insurance provides liability for damage to property, damage to personal property and bodily injury. Yacht insurance may also include towing or assistance in case of an emergency. After you learn a little about yacht insurance, it’s always wise to look into yacht insurance quotes.
Boat VS Yacht Insurance
The first thing that most people want to know is the difference between boating insurance and yacht insurance. Well, first, boats are smaller. A yacht is 27 feet or larger, whereas a boat is classified as under 26 feet, normally. Since a larger boat travels further with more passengers, there is broader coverage for yachts compared to other boats.
Yacht Insurance in Two Parts
Yacht insurance contains two different components. First, there is hull insurance. Hull insurance covers direct damage. All parties must agree on a value of the vessel at the time the policy is written. This policy will also include replacement cost coverage on any partial loss.
When it comes to insurance, you need insurance that fits your specialized needs. When you own a yacht, there are a lot of special risk factors. This is why it’s crucial to get yacht insurance quotes for your pleasure boat.
How Insurances Differ for High-Value Homes
If you are a homeowner or planning on becoming one, you’ll know that having some degree of homeowners insurance is a necessity. Purchasing a home is likely the most significant purchase one can make in an entire lifetime. As the value of the home increases, more is at stake and must be protected. That’s why getting insurance for high-value homes is one of the best safeguards for protecting your investment.
Because of the higher value of the home in addition to the costs of possessions inside it, this type of coverage ensures that those factors are accommodated. Some coverages that insurance for these types of homes might include are:
- Jewelry or other high-cost items
- Risk management
- Equipment break-down
- Plumbing systems including drains and sewage
- Cash settlements
- Costs of an alternative home and expenses accrued while repairs are being made
- Costs to restore or repair a home beyond standard policy limits
- Increased liability limits to protect higher-valued assets
- Umbrella policies to supplement existing coverage plans
Give yourself peace of mind by being proactive and making sure that your home is adequately insured. Speaking to an agent that specializes in insurance for high-value homes is likely the most significant step to being able to enjoy your home and possessions worry-free.
Workman’s comp insurance is a type of insurance purchased by employers that cover work-related illnesses and injuries. It is often referred to as “workers comp.” Workers compensation is often state-mandated through a program that requires compensation to works injured or disabled while doing their job. In most cases, employees are entitled to workers comp regardless of who was at fault for the injury.
Workman’s comp insurance is designed to cover injuries that result from either an employee’s or an employer’s carelessness. Although the range of covered injuries is broad, there are limits. For instance, alcohol and drug tests might be mandatory for an injured employee. Benefits may be denied if the individual is found to have been under the influence when the injury occurred. Self-inflicted injuries may also be denied.
Typically, workers comp insurance covers
- Costs of retraining
- Death benefits
- Immediate medical care
- Long-term medical care
- Lost income
- Permanent injury compensation
It also may provide protection to employers from lawsuits related to the injury. Many times, benefits do not cover pain and suffering. When it comes to lost wages, most policies cover 2/3 of the worker’s average wage. There are limits to this coverage as well.
Workman’s comp insurance is benefits both employees and employers. Employees don’t have to worry as much about getting hurt on the job and employers don’t have to live in fear of lawsuits.
Radiologists are vital to the medical community, using specialized equipment to generate images used to assess patient injuries and diseases. These medical doctors’ contributions are indispensable to formulating thorough and accurate diagnoses. However, the world of radiology, especially cyber medical imaging, does have its own unique risks.
Occupational Hazards of the Past
In order to create the detailed, in-depth images that radiologists in the past were exposed to hazards from radiation emitted from machines used. Some of these risks included an increased likelihood of developing health problems such as cardiovascular disease and cancer. Luckily, thanks to modern technology, these risks are drastically minimized, no longer posing any significant threat to these professionals.
While those working in radiology no longer need to worry about job-related health concerns, there are still work-related exposures that they must prepare for. When working in this field, including cyber medical imaging, actual risks that must be addressed include:
- Cybersecurity for confidential images and information
- Actual occurrences or accusations of malpractice
With any other business, basics such as workers compensation, commercial auto and employee conduct-related issues must have safeguards. A practical solution is to find a specialized plan that not only addresses field-specific concerns but also has a solid foundation that covers all other liabilities. These are the only real risks of working in radiology and virtually any other medical profession.
With natural disasters happening around the world, the supply chain for your business may run into problems. Business supply insurance covers those increasing exposures. Some things are out of your control but protecting your business’ financial assets is something you can control.
What It Covers
Business supply insurance often covers both non-physical and physical damages. Non-physical damages could result from events such as political risks, strikes and pandemics. Physical damages often result natural disasters such as earthquakes, volcanic eruptions and fire. Depending on the insurance policy, the insurance may cover many of the following:
- Use either an actual sustained loss or agreed upon value basis for claims
- Business interruption or delays due to supply chain problems
- Multiple suppliers and supplies based on the number of units or gross income
Why You Need It
Even those businesses not directly impacted by an event may still experience delays and disruptions. Any business purchasing supplies from manufacturers operating overseas should consider obtaining a policy. Businesses in industries such as automotive, manufacturing, technology and pharmaceutical may have an increased risk of supply chain interruption or delays.
Protect your business with business supply insurance and lower your risks. An agent or broker can help you analyze your risks and design a program to cover your specific risks. A policy can help prevent unnecessary financial loss to your business.
One of the top concerns of companies large and small is its vulnerability to cyber attack. For good reason, too, as digital criminals are less interested in causing disruption and more inclined to steal your clients’ personal information without your knowledge. To protect your organization, work with a company like Financial Guaranty Insurance Brokers.
If you are wavering on whether to invest in cyber insurance, consider the cost of informing your customers of a data breach, as well as the trust you could lose. For some companies, this could be financially devastating. Here are two other reasons to consider cyber insurance.
Your Employees Use the Internet
If your employees have access to the internet to complete their work, they could unwittingly put your organization at risk. Downloading unapproved files or accidentally accessing a website riddled with malware could give criminals access to client and company information.
You Couldn’t Afford a Cyber Attack
The average cost of a cyber attack, including informing customers, boosting security and finding out how criminals breached company firewalls can surpass $500,000 in some instances. If you run a small company and are not covered, the cost could cause financial stress or close your business altogether.
If your organization is connected to the web or utilizes cloud services, you may want to consider cyber insurance. Work with a company like Financial Guaranty Insurance Brokers to find the right coverage for you.