Using Stop Loss Insurance to Cover Gaps in Health Insurance Offerings

Many employers have found that they’re unable to offer employees the insurance they would like without seeing gaps in coverage. There are ways to take advantage of stop-loss health insurance while offering employers tax breaks, too. Here are a few things to know about this option and how it can help.

The Benefits of Using Stop Loss Insurance

Stop loss insurance offers coverage for cases where an employee needs to use a lot of their insurance coverage for a medical procedure. When one employee uses more coverage than others, it can cost employers extra. Many of these programs also offer benefits such as a higher deductible for those who need it. Having options like these means employees can get the coverage they need without significant cost the employer.

How It Can Save Employers Money

Employee insurance can cost a lot of employers don’t know what to look for. By choosing stop-loss insurance, they can take advantage of savings and join other companies who operate in a similar manner. It offers them the chance to get benefits and programs that only large companies would have access to, making it a useful option for middle-range businesses.

Choosing stop loss health insurance can provide many benefits. It not only saves money for employers, but it provides useful programs they wouldn’t normally get, making it a catch for employer and employee alike.

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The Importance of Keeping a Car Insured

Many people know the importance of getting insurance on things important to them. From boats to homes and even one’s life, insurance can provide a solution to problems that may arise. Here’s why auto insurance is necessary, despite what you might have heard.

Why Auto Insurance Matters

Auto insurance in Ypsilanti, MI is crucial to have to protect the car, driver, and even passengers in the event an accident should occur. For those who are careful drivers, it’s hard to predict when an accident might occur because of someone else. That’s when having insurance becomes a lifesaver, and can even insure the car gets fixed at no additional cost.

Problems That Arise From Not Having Insurance

Skipping out on car insurance isn’t a way to save money. Issues can occur such as:

Fines

A car getting repossessed by law enforcement if found without insurance
Being forced to pay more than necessary if an accident or problem occurs
Having issues getting insurance after one of these incidents occurs due to risk

Get the right insurance that can protect everyone can keep a car safe should an accident occur. Auto insurance in Ypsilanti, MI doesn’t have to cost a lot when going through the right insurance company. Don’t risk losing your car or going through an irreparable accident and find the right coverage or your needs today.

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The Top 3 Reasons You Should Consider Insurance for Pollution Liability

The Top 3 Reasons You Should Consider Insurance for Pollution Liability

As a contractor or environmental consultant today, you likely encounter situations regarding the need for liability insurance on a regular basis. Thankfully, Contractor’s Pollution Liability insurance, or CPL for short, exists to cover you and your business.

1. It Is Flexible

CPL plans are designed to protect you and your work product, regardless of the type of work you perform. In the wide range of options, you could choose from liability insurance that covers claims for personal injury, clean-up costs (including pollution removal and transportation), property damage and emergency responses.

2. It Is Personalized

Insurance companies recognize that your work can happen on a large or small scale, so pollution liability insurance plans can be designed to fit your needs. This means that if you would prefer CPL for just individual projects or for larger yearly coverage, you can find the best plan for your work.

3. It Is Cheaper Than You Think

With so much versatility among plans, high-quality liability coverage can be found at a reasonable price. Additionally, consider the long-term financial and mental value offered by comprehensive plans. An experienced broker can help you find the best deal on insurance. Taking the time to understand your unique needs concerning pollution liability insurance sets a solid foundation for the future of your business.

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3 Insurance Policies For Accountants

Accounting involves a lot of numbers and money already, so adding in the costs of lawsuits, repairs, medical bills and more can not only be a hassle, but a huge risk to everyone affected. Not having the right accountant insurance coverage can lead to financial disaster and possibly an end of the business. There are a few vital policies that any accountant would likely need, but other types should be considered and discussed with an accountant insurance company, as well, to ensure the best possible protection.

1. Professional Liability

Possibly the most important insurance police for accountants, Professional Liability covers the legal costs involved in claims of negligence and financial loss due to your actions. While this may be warranted or not, insurance can still handle the fees as long as no criminal or dishonest acts have been done by your accounting business.

2. Business Insurance

This type of coverage is beneficial to nearly any business. This insurance tends to include three different policies in one:

Property

General Liability

Business Interruption

3. Cyber Liability

A great deal of information is now stored digitally. In the case of accountants, a lot of the information collected from clients is incredibly sensitive, including personal information and financial records. If there were to be a data breach or some sort of digital issue, cyber liability would be needed in order to cover the costs involved in handling the situation.

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Getting the Best Coverage for Your Assisted Living Facility

When operating an assisted living facility for the aging population, you should always have insurance coverage to protect your assets and to protect the individuals who live in the facility. Different types of insurance for assisted living facilities are available, so it helps to know more about your options and the level of coverage you need.

Property Coverage

Having coverage for the property is one of the first things you should for. If something were to happen, such as damage caused by a natural disaster or a fire, this coverage makes sure that your insurance company would cover the cost of fixing the property for your elderly residents. Your coverage may even include the cost of stolen property if someone were to break into the building and begin taking things from inside of it.

Liability Coverage

If one of your staff members is negligent or abusive, you could end up paying out a large sum of money to residents. Because you never know if something will go wrong or if certain mistakes will be made unintentionally, it is safer to have the liability coverage than to go without it and put your residents and your company at risk.

Getting insurance for assisted living facilities is a must. You should have both property and liability coverage in case something goes wrong. Without the right amount of coverage, you could pay out of pocket for various expenses.

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The Basic Insurance Needs of Home Health Care Businesses

Home healthcare is on the rise with the Baby Boomer generation aging and needing more care. Home healthcare insurance programs cover the variety of liabilities home healthcare companies face on a daily basis.

Patient Care

Caring for patients is a delicate business with many risks. Non-clinical risks need a general liability policy to cover them as home health is still a business. Professional liability handles any misconduct or malpractice lawsuits against the clinicians.

Transportation

Employees drive to the patient’s house to care and aid the patient. If they drive the company vehicle, your business needs a commercial auto policy. However, if the employee uses their own vehicle to travel for work, the business needs a hired and non-owned auto policy to cover an accident.

Employees

Taking care of your quality healthcare workers is paramount to having a smoothly running operation. Workers compensation is necessary in all states in the event the employee falls sick or is injured on the job.

Unpredictable working environments make workers comp insurance even more necessary for home health workers.

Prepare to care for the aging American population with home health care insurance programs designed to make purchasing insurance easier. Covering your exposures lets you focus more on care. Speak to your agent to ensure the policy handles the wide nature of your business.

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Avoid Common Delays in Construction with These Helpful Tips

The construction business is known for delays in project completion. Granted, there are many things that can affect the completion of a project including the weather. Stand above the crowd by using these tips to complete projects on time. If there is a delay, builders risk insurance in NY can help you cover costs associated with a loss.

Detailed Planning

Detailed project planning can keep your project on time. When writing down the various pieces of a project, plan in some time for unforeseen problems. Having a contingency plan can help when things do go wrong.

Advanced Scheduling

Where you can, schedule as many contractors ahead of time as possible. This puts the project on their schedule and keeps them from booking the time you need for your build.

Construction Managing

Many projects fail or delay due to incompetent management. As the business owner, it is essential that the construction manager understands their responsibilities and roles with the project. Whether they work on more than one is up to you. A competent manager should be able to problem solve challenges and issues as they crop up to prevent delays.

Each structure you erect needs a builders risk insurance in NY policy for any potential delays. Something may crop up out of your control. Don’t let it cost your business more than necessary.

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The Clear Advantage of Wholesale Brokers

When it comes to choosing the right insurance solutions, there are several options available. You could purchase insurance directly from the seller or you could check out wholesale commercial lines brokerage.

Disadvantages of Direct Sellers

When you choose to purchase from a direct seller, there are limitations. They give you fewer choices because they can only offer you their products or services. If your client’s specific needs do not fit within the profile of the seller’s product line, you can only get a close fit or a generic solution. This doesn’t work for most businesses. Companies have unique needs. Likewise, if you ever have a complaint about how much the insurer paid on a claim, you have to go directly to them. You don’t have an advocate to resolve the matter.

Benefits of Insurance Brokers

A broker represents multiple different companies. This means that they are able to connect you to a variety of different insurers that might fit your client’s needs. The goal in working with a broker is to have access to multiple different products and different insurance companies. This way you get the best rates and best deals. In addition, the broker will advocate for you, if there is ever a problem.

When it comes down to it, wholesale commercial lines brokerage agencies offer solutions that are more flexible for companies.

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Why Errors and Omissions Insurance is Necessary for the Real Estate Business

Working in real estate can be a fulfilling career. Working with a wide range of properties, helping people to find a future home, workplace or investment opportunity can be exciting as well as profitable. However, in an industry with such high stakes such as real estate, insurance is vital to ensuring that reputation and assets are protected. In most coverage plans you will notice that errors and omissions are an important component. To have a more in-depth understanding about real estate E&O claims, examples can help illustrate them.

How E&O Coverage Helps

In many types of businesses, errors and omissions coverage must be included when it comes to insurance. In sum, policies outlined in E&O coverage plans should address the following:

  • Incident reporting
  • Fiduciary or receivership services
  • Coverage in cases of owned property
  • Consent to settle
  • Guaranteed defense
  • Punitive damages
  • Personal injuries
  • Criminal or fraudulent acts

When exploring plans offered by various agencies, it can be helpful to go through these real estate E&O claims examples individually to get a better grasp on how each policy would provide safeguards for each of these types of scenarios. Find the best fit for your business by choosing an insurance agency that understands these unique exposures in the real estate industry and can take the time to provide coverage details for you.

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Crucial Homeowners Insurance Coverages

Insuring a homeowners association involves several elements. When you choose HOA insurance, you

have to prepare for every possibility. It’s not always fun to think about potential losses but this is going to protect your association. When it comes to coverage for your community, those who specialize in wholesale HOA insurance can help you through the process. They can also help you decide which solutions work best for your community.

Here are a couple of coverages you should always consider.

Contingent Liability

Contingent liability offers coverage for undamaged property. For instance, if there is a house fire, property insurance will replace the half of the building that underwent damage. Unfortunately, in many areas, if half of a building is destroyed, you have to demolish and rebuild the entire thing per law. In this case, contingent liability would pay for the undamaged portion.

Sewer Backup Coverage

If your homes connected to the sewers, this is important coverage to have. Someone may flush the wrong items down the toilet and result in backups and property damage. Likewise, laundry soap can build up in common area lines and cause damage.

In the event of an emergency or home’s damage, you want to have full coverage for your community association. There are many different specialty coverages to apply for. You can learn more from a wholesale HOA insurance agent.

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