Nonprofit organizations tend to have small operating budgets, requiring administrative teams to maximize every dollar spent. Large, unexpected expenses can quickly drain any financial reserves and cause the organization to fail. The right insurance policy can help guard against the more common risks and exposures, but with so many options to choose from, it can hard to determine where to spend the funds. Here are some crucial needs for non-profit insurance.
1. General Liability
There is the potential for many accidents on your organization’s property, and general liability addresses slip-and-fall situations. Any damages incurred or ordered to be pay to victims of an incident (such as a vendor, associate, supplier, visitor, etc.) are covered through the policy. This isn’t going to address employees, as this is what workers’ comp insurance is for. It would step in for volunteers.
2. Property Insurance
Whether you rent a space or own a property, incidents like earthquakes, fires, vandalism, storms, or else could cause serious damage to your structure and property contained within. Basic property coverage will repair or replace owned property, from the building to fixtured, equipment, or inventory.
3. Auto Insurance
Any owned, hired, or employee/volunteer vehicles should be covered under an auto insurance plan. Your state of operations will generally have a minimum required coverage amount, as these policies pay for injuries, death, and property damage for involved parties.
Speak with an agent about other forms of insurance that will protect your nonprofit. The right policy is crucial to your success.
Truckers take risks every day on the road. Highway accidents can happen, cargo can be lost and any other number of unique risks can occur. Liabilities don’t just start when you hit the highway, however. They begin when loading and unloading the cargo.
Tips for Smart Loading and Unloading
When you load or unload a truck, you need to stay mindful of any gaps or drops in the ground. You need to know where to step, in order not to fall with the cargo.
- Perform a maintenance check
- Stay alert
- Secure all goods
- Inspect cargo
Machines can malfunction. If you are using a forklift or any other heavy equipment, have maintenance performed ahead of time to ensure that there are no malfunctions during operation. Stay on the lookout for any hazards to the truck or those loading and unloading cargo. Potholes, debris or unstable platforms can lead to accidents.
Extra Protection for Truckers
Even if you perfect your loading and unloading trucks technique and do everything possible to mitigate the risk of an accident, there is always a chance that an accident could happen while lifting and loading cargo. If it does, occupational insurance coverage and cargo insurance can protect employees and cargo.
The more thorough you are, the less likely you are to have an accident while loading or unloading the truck. Keep yourself and your cargo safe by following safe loading tips.
People not familiar with its day-to-day operations often mistakenly think the only function of a warehouse is to store goods. In the same way, some warehouse operators also have a narrow view of what warehouse insurance has to offer them. The truth is that coverage can be just as diverse as the many jobs that happen inside.
Protected under any warehouse insurance policy is the contents of the building, whether owned by you or a client. . Examples of possessions covered include the following:
- Machinery such as forklifts and golf carts
- Computers and other electronics
- Hand trucks
- Fixtures and equipment
- Valuable papers and software
Liability insurance protects you from claims of personal injury or loss of property. This coverage is especially important when housing items that do not belong to you, or when employing multiple workers. It usually covers costs associated with the following claims:
- Employee dishonesty, including theft and forgery
- Personal injury by the general public while on the premises
- Goods transported by third parties
- Property inside trucks owned by you
Be sure that your warehouse insurance is adequate to protect the many aspects of your business. Your insurance agent can evaluate your existing policy and help you expand it into areas that may need additional coverage.
A small business owner has so many risks to consider. The insurance policy you choose must cover your property, employees, clients and the business itself from disasters and unwanted claims. Because there are so many potential risks, it makes sense to purchase a comprehensive package to protect your investment.
How To Select the Best Commercial Insurance Package
No two businesses are alike, so you must evaluate the risks inherent in your business. It’s critical to discuss the options in detail with your insurance agent to ensure you develop the best plan. A commercial package insurance policy that considers several kinds of liability will be more cost-effective than buying a separate policy for each type of coverage. CPP insurance can include the following coverages, depending on your needs:
• General liability – Coverage will help cover legal fees and settlements from third-party claims.
• Commercial building, including contents – This policy will help you rebuild after your building is damaged.
• Breakdown of equipment
• Interruption of business operations
• Additional property located off-site
Employee injuries and employment-related claims aren’t covered under a commercial package policy, so talk with your agent about what other coverage should be considered.
Having a comprehensive insurance package can protect your investment in the event of unexpected claims. Without proper protection, it could be difficult to recover from devastating circumstances.
When you own and operate your own business, there is always a level of risk involved. Owning a boat dealership is no different. Some risks often associated with selling a variety of marine products include theft, damage, equipment malfunctions, and injury. However, when you meet the proper boat dealer insurance requirements, you can help mitigate potential risks. Before you commit to a policy or provider, it’s essential to know and understand what’s available to you as a dealer first.
Common Coverage Options
Since there is a wide range of coverage options within the industry, it’s always good to educate yourself on potential possibilities before entering into a contract or writing any checks. Some of the most common coverage options include:
- Property Liability Coverage – This insurance plan provides financial protection from risks that involve property damage or loss.
- General Liability Coverage – This coverage is broad by nature because it’s intended to ensure businesses with a wide range of exposures.
- Truth in Lending Coverage – Provides boat dealers potential protection if they fail to adhere to the Credit Protection Act or Truth in Lending Act.
- Errors & Omissions Coverages – If records or paperwork are managed poorly and result in legal claims, this coverage offers potential payments to resolve the issue.
Peace of Mind
There are risks associated with running any business. This is why obtaining the proper insurance coverage for your boat dealership is vital. When you have the necessary coverage, you will be less likely to get caught in a sticky financial situation.
When it comes to concerns related to becoming a landlord, there are few greater worries than that of not bringing in rental income. Most people can’t afford to miss one month of rental income, let alone six months to a year. And unfortunately, this is more common than one might think. The good news is that loss of rent insurance can be found on such sites as https://www.rentrescue.com. While it may not cover all rental income losses, it does cover a lot of them.
There are several reasons why a tenant may abandon their rental property. Some of these reasons include:
- Military Deployment
- Family Emergency
- Serious Illness
Although individual policies vary, loss of rent insurance may pay anywhere from 1 – 6 months of lost rent under these kinds of circumstances.
Evictions happen, and they happen for a number of different reasons that range from selling a property to not adhering to noise curfew regulations. Under some circumstances, landlords may get reimbursed for the total amount of rent after a resident is evicted.
Landlord and tenant arguments sometimes lead to legal action, which comes with pretty hefty fees. Whether it’s attorney fees, filing fees or court costs, an insurance policy could help with some of these expenses.
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:
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.