Selecting the Right Life Insurance for Your Family

When you want peace of mind for your family, life insurance is a smart investment. Not only does it cover burial expenses, it also provides financial security for your family, allowing them to pay off the family home, fund college educations for your children, and secure retirement for a spouse. In Virginia life insurance is available in three types.

Term Life Insurance

Term life insurance offers straight-forward insurance coverage for a specified period of time. One of the major advantages of a term life policy is its affordability. Like all Virginia life insurance, it provides a guaranteed death benefit for your beneficiaries.

Whole Life Insurance

Unlike limited term insurance, whole life policies offer permanent coverage. Although whole life insurance premiums are generally more expensive than term life, the policies build cash value, making them an investment as well as an insurance policy. Most also include borrowing options, which give policy owners the ability to tap into the policy during emergencies or hard times.

Universal Life Insurance

A universal life insurance policy gives owners the ultimate flexibility in insurance. Universal life insurance offers the flexibility to either build the policy’s cash value or to concentrate on guaranteed protection.

Whatever your family’s needs, there is a Virginia life insurance policy available. Consider both your budget and preferences. Whether you want the flexibility of universal life insurance, prefer the affordable coverage that term life provides, or want to build cash-value with a whole life policy, purchasing life insurance is one of the best investments for your family’s future.

Two Big Benefits of Classic Car Insurance

Owning a collectible vehicle can often seem like a never-ending parade of expenses. Once you’ve gone through the process of restoration, you still have plenty of money to spend on maintenance, storage and hard-to-find replacement parts. As an enthusiast, you gladly put up with these costs out of love for your hobby, but it’s also important to protect your investment. A classic car insurance policy is the best option to safeguard your vintage automobile, and here are two major benefits.

Significant Savings

Since you don’t use your vintage vehicle for day-to-day driving, the likelihood of an accident dramatically diminishes. Because of this, insurers are able to offer much lower premiums to cover things like collision damage and liability. Don’t make the costly mistake of adding your collectible automobile to your normal insurance policy.

Set an Agreed Value

When you sign up for classic car insurance, you have the option of working with your agent to set an agreed value for your vehicle. This means that if you suffer a loss, you’ll get the full value of the policy without other factors like depreciation interfering with your settlement amount.

While these are two of the biggest benefits that come with these specialty policies, there are other advantages to consider. Some policies even offer perks like roadside assistance and coverage for expensive replacement parts. Whatever reason strikes your fancy, classic car insurance is the best way to protect your investment.

Improving on your Insurance Web Design

Still not sure that you’re getting the most out of your website? Check out some competing websites (ones which you know are doing well) and see what they might be offering and in what areas your own site is lacking. One important component of any successful online entrepreneur in any line of business is the design aesthetic. Insurance web design may be similar in many ways, but you still need to do what you can to stand out from the crowd.

Customer Service is an important component

You want your website visitors to engage with you, so make it easy for them to obtain an online quote with easy-to-fill-out customer service forms. Make sure to make it easy for them to contact a representative, as this will make your visitors feel appreciated and welcomed. Encourage feedback, even of the negative variety, and address any concerns or questions with speed and efficiency.

Have a solid plan in place to respond and follow up in a timely manner, and let your visitors know you’re excited to converse with them personally. The fact that you’re willing to listen and to aid them in any way will go a long ways toward building trust with consumers, making your agency seem more genuine when you talk about great customer service and how your customers are important to you.

Your personality is a big reason people come to you

Believe it or not, you are probably what makes your agency stand out from the competition, and how you talk about those differences on your website is important, but also your ability to show them as well. Visitors will respond to photos of you, your agency colors, and, of course, your blog. Make sure that your website properly reflects your agency, so that people don’t get confused. People like to do business with people and companies they like, so it’s vital that your true personality shine through and let them accept you for who you are.

Being a valuable resource brings dividends

The best way to make your website a favorite insurance destination is by becoming a resource. Besides selling your products and services, use your blogs as a way to offer free information which consumers can take advantage of. For example, allow them to download free reports on subjects of interest on your website. Invest a little time and money in your insurance web design and create the potential for growth!

Looking at the Breeds That Bite the Most

Have you ever been on the receiving end of a Florida dog bite? If so, you may have wondered which dogs are known to be more inclined to bite, as well as how hard and where on the body they are likely to attack. An interesting study that collected data on nearly 7,000 reported canine-caused injuries in a recent three-year period found that the top-five breeds reported were:

The fine print mitigates the results

However, this list should be taken with a grain of salt for several reasons. For one thing, the breed of the animal as reported in an incident is noted in many cases by either victims or animal control officers, who may not identify the breed correctly. And are you surprised that Labs are at the top of the list? They are Old Yeller, the faithful companion with the built-in smile and lolling tongue; the dog whose lovable antics and lifelong friendship had audiences weeping in the movie Marley and Me; surely they are not capable of such behavior! Actually, even the most friendly pet can bite under certain circumstances and if provoked. And because Labs are the most common breed, due to their sheer number, animal control experts say they are disproportionately represented on the list.

Where the teeth are likely to make their mark

The study found that teeth make contact with what’s closest to them–which is, in most cases, the hand, followed by legs, arms, and then above the neck. In terms of severity, injuries were most often judged to be “moderate” or “minor,” with only four percent of cases listed as “severe.” When they do happen, the severe injuries often require stitches and even plastic surgery to repair the damage.

Rule of thumb: If it has teeth, it can bite!

Animal injuries, whether caused by a Florida dog bite or a New York cat scratch, can be minor or severe, but they should always be treated immediately to clean and disinfect the wounds to prevent infection, and attended by a medical professional if necessary.

New York Workers Comp and the Changing Landscape

Insurers are still sorting through all of the potential impact that the Affordable Health Care Act (AHCA) will have on workers’ compensation. Some feel it is having a serious impact on New York workers’ comp claims through an increased leakage from group health plans, while others feel this is not the case. Most agree that with the increased coverage that is being provided on the group health side, the overall utilization of these services will continue to rise.

One certainty is that it’s imperative that workers’ comp payers identify the providers who are able to deliver the best clinical outcomes for injured workers. After all, to maintain a productive business, owners must ensure that the focus remains on the quality of care and providing the best outcome for the injured parties. While this may cost more on a fee-for-service basis, getting appropriate and timely health care generally leads to a faster return-to-work. This again will ensure that the proper treatment is being obtained and will ultimately help lower costs.

The importance of a sound disability management system

More and more employers are realizing that the impact of federal employment laws, such as the Americans with Disabilities Act (ADA) and the Family Medical Leave Act (FMLA) must be considered on all workers’ compensation claims. Companies are beginning to realize the value of managing non-occupational disability so that their valued employees can get back into the workflow and become productive once again.

New York State streamlined its assessment process, which resulted in a significant reduction of the assessment rate for most employers. Still, it remains to be seen if these assessment savings will continue into the future. In addition, New York has been struggling to implement the reforms that were passed in 2007 legislation, and it was 2013 before the last of the regulations were issued for this law.

Despite the huge amount of premium, exposure and claims data produced by the New York workers’ comp industry, many business owners still complain about the lack of any actionable information. As an industry, wholesale brokers will see a continued focus on the use of more meaningful analytics that can assist in identifying savings opportunities, formulating action plans and measuring the impact of change, which they will then be able to pass on to independent insurers.

Consistent Business Practices Can Help Reduce E&O Insurance Risk

Like other companies, insurance agencies are in the business of providing necessary products and advice priced competitively in order to achieve a suitable profit margin, pure and simple. But in many cases, the professional services these hardworking men and women provide have nothing “simple” about them; as it turns out, this line of work brings with it a varied and substantial collection of potential liability risks. In the course of doing business, then, it is important to ensure that a culture of risk management is cultivated so that a major irony is avoided–an expensive claim that the agency itself faces due to a grave mistake. Of course, to avoid such a calamity, agencies will want to heed their own advice and purchase insurance agent errors and omissions insurance.

Policy can protect when damages threaten your existence

In the event of a claim, the policy will pay for the costs of legal defense, as well as damage awards and settlements–amounts that can severely cripple or even obliterate a firm altogether, particularly in today’s litigious environment where claims are often substantial. That was exactly what happened to a small firm whose top producer gave a client some policy information that, unfortunately, was inaccurate. The client, who was on vacation, declined some protection offered by a rental company, believing that coverage he already had in place would extend to the rental, as he had been informed. Not so–and when the rental equipment was damaged, the client found himself having to pay thousands of dollars out of pocket to reimburse the company for repairs and loss of use. The client in turn sued his agency to recoup his loss, arguing that it would never had occurred because he would have purchased the additional rental protection had he been given the correct information in the first place.

Start with the basics

To avoid costly E&O claims and improve business practices, start on the ground level–that is, by cultivating a culture in which every member of the staff understands that the things they say and do can mean the difference between a satisfied customer and a lawsuit. Implement written processes that have been vetted for accuracy and completeness and ensure that all are trained to follow the same procedures with each client interaction. By adhering to consistent service delivery methods, you can help reduce the chance of ever having to file an insurance agent errors and omissions insurance claim.

Common Types of Orlando Insurance Every Business Needs

Business owners in Orlando generally experience pleasant weather throughout the year. But there are dangers other than weather-related issues that can turn a company on its ear. No one wants to be sued, but without Orlando insurance that protects your company from lawsuits things can quickly turn into a nightmare. Just imagine, one claim from a disgruntled employee and you could wind up losing more than just sleep.

You would rather be focusing on the opportunities that provide your company with growth and making profits but instead, without the proper insurance, you’ll be focused on recouping the money you’ll likely lose, including the expense of legal costs and any other potential repercussions to your business. Having business insurance is something you simply cannot do without, because it’s designed to protect you in case there’s ever a problem.

Different types of insurance to secure

In addition to employee complaints, for example harassment, discrimination and other unfair business practices (which are all covered under an employment practices liability policy), you have other risks and exposures to consider. There are several policies that any smart business owner purchases in order to protect both, the company and his or her personal assets, including:

  1. Commercial General Liability (CGL) which provides you with security protection against claims of errors and omissions, product liability claims, and employee liability claims. Depending on the type of business you run, your needed coverage will vary.
  2. Business Interruption (BI) coverage will come in handy if, for whatever reason, your business goes offline, in which case there’s going to be more than just damages and repairs you’ll need to worry about, including the loss of income you’re experiencing. Business income insurance can help you to create income even while your business is out of commission.
  3. Worker’s Compensation (WC), which you know is required by Florida law if you have employees, but can also be customized to the fit specific needs of your company.

In addition, you should look into property insurance (to cover equipment and furniture), equipment breakdown, and business auto, just to name a few common exposures. Orlando insurance is the cornerstone of many successful businesses. Remove some of the major risks of business, and speak to a reputable agent about all of your business insurance needs.

Why You Need Linen Supply Companies Insurance

Linen supply companies provide products and services to a wide variety of businesses. Hospitals, hotels, and restaurants are just a small sample of the hundreds of places requiring their products, everything from sheets and pillowcases, to uniforms, tablecloths and many other items. These products must arrive in good condition, or the client may refuse to receive them.

Luxury hotels, for one, depend on these services in order to facilitate the needs of their customers. If a problem arises, such as linens lost in transit or damaged by human error, faulty machinery, or perhaps a mishap in the chemical processing, any one of these issues can significantly impact the supply company’s bottom line. This is why linen supply companies insurance, including general liability, is a necessary coverage to have.

Linen suppliers face some unique risks

The best line of defense is to partner with an insurer that offers loss control services to help lower the cost-to-risk with a multifaceted approach and claims management assistance. There exist some very unique risks at every point in the supply chain. In-house laundries can benefit from programs that mitigate risk for suppliers of prison, hospital, or organization-based uniforms.

In addition to general liability concerns, linens can present a health risk to employees who may be exposed to biohazards such as airborne and imbedded pathogens. Employees may also be at risk, while working in a facility, from exposure to chemicals and sharp objects.

Certain equipment may present noise exposure, and there may also exist the issue of heat stress, slip and falls, and burns or injury from machinery all of which are also quite common in commercial laundry operations. Linen supply companies insurance policies to consider when running this type of business, in addition to general liability, include the following:

  • Property Insurance including Equipment Breakdown
  • Excess and Umbrella Liability
  • Workers’ Compensation
  • Employment Practices
  • Inland Marine
  • Transit Insurance
  • Directors and Officers Liability
  • Boiler and Machinery
  • Employment Practice Liability Insurance (EPLI)
  • Employee Benefits

At $11 billion and counting, the commercial laundry industry is expected to continue its sustained growth as the healthcare industry and other organizations realize the financial benefit in outsourcing these services. Linen supply companies need to protect all aspects of their commercial laundry business so that they can provide the best service to their clients.

Which Organizations Need Directors and Officers Insurance?

Directors and officers insurance provides coverage in the event of claims against the acting directors or officers of various organizations. A typical question for groups considering purchasing this insurance is, which of these directors and officers benefit most from this insurance? Proper coverage for directors and officers is always beneficial, but it is especially important in the following settings.

Publicly or Privately Held Companies

Directors and officers serving in either type of company can face significant liability. Officials running publicly held companies are accountable to shareholders, while those in charge of privately held companies must answer to investors. In either case, there is always a possibility of directors or officers making missteps (or being accused of doing so) while overseeing the company.

Non-Profit Organizations

The directors and officers of non-profit organizations may be vulnerable to claims for unlawful practices, mismanagement of funds, violation of the organization’s charter and more. The risk of inadvertent misconduct may also be high. Since many of these directors and officers work on a voluntary basis, they may have less business experience than their counterparts in other organizations.

Various Institutions

The directors and officers of influential institutions, such as financial, educational and public institutions, may also need directors and officers coverage. These leaders often make decisions that are financially or otherwise impactful, which can expose them to claims.

Protecting Professional Interests

Before ruling out a directors and officers insurance policy, decision-makers at any of these organizations should consider the potential losses that the organization and its leaders could face during a claim. Even if claims seem unlikely, this insurance can be highly worthwhile, given the serious consequences that just one claim can have.

The Importance of Florida Dog Health Insurance

Most pet owners tend to treat their dogs like a member of the family. Just like you understand the need to have insurance for spouse and children, you have probably invested in some sort of Florida dog health insurance as well. If not, simply by filling out a quick quote form online you can get competitive quotes from all the top pet insurance companies.

Approximately 75% of pet owners in the U.S. consider their dogs and cats as part of their family. If you truly love your pet, and don’t want to pay exorbitant medical bills on your own, then you really need to consider getting pet health insurance. These policies can help you pay for big, unexpected veterinary bills whenever your pet gets sick or injured.

Of course, with improved technology and extensive veterinary procedures, costly medical bills are fairly common, and for the uninsured, having to pay these sudden, unexpected bills can be financially devastating. This could result in euthanasia for many animals, which only leads to more practitioners promoting health insurance for pets.

Veterinarians who have experience with pet insurance say the coverage is more closely related to auto insurance than human health insurance in terms of cost. The average plan (for an animal under age 6) costs a mere $30 to $40 a month for dogs, which isn’t all that large an expense for dedicated pet owners, but many owners still haven’t taken the time to investigate their options.

Unhealthy pets may be more likely to bite or attack

An animal suffering from a disease or experiencing other health problems may become easily irritated and therefore more likely to act menacingly as a result of the pain they are experiencing. According to the Center for Disease Control and Prevention, every year in the United States more than 4.7 million people are bitten by dogs. These injuries total over $400 million per year in medical and liability claims.

Realize that many homeowners or renters insurance policies exclude coverage for injuries caused by dogs, resulting in out-of-pocket expenses for pet owners. Check with your insurer to see if you have this vital coverage in place. Dog bite insurance is crucial for any responsible pet owner, as is Florida dog health insurance. Avoid facing any liability concerns should your dog bite an individual and cause harm. Protect yourself by carrying the needed coverage at all times.