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Protect Your Investment Property With Rental Insurance

Tennessee is a popular destination for visitors because of its wide variety of outdoor activities. If you own investment property that is rented out to these visitors, it is important that you are properly protected. There are many risks to both your property and to the renters that can result in huge financial loss if you don’t have the proper overnight rental insurance in Nashville, Tennessee.

Types of Property That are Covered

It doesn’t matter if you have a small rustic cabin or a huge luxury home that you are renting out; there is a variety of coverage available for your needs. The types of overnight rental property that may be covered include:

  • Condominiums
  • Townhomes
  • Cabins
  • Lodges
  • Vacation properties
  • Single-family homes

Types of Coverage Available

There is a wide variety of overnight rental insurance in Nashville, Tennessee. Property insurance helps protect your property from damage due to Mother Nature or tenants. This includes coverage of separate structures such as pools and sheds.

Liability insurance helps protect you if guests are injured while on your property. For extra liability insurance, umbrella policies will provide even more coverage. You can also opt to have rental income coverage in the event your place is out of commission due to a covered loss.

Match Employment Agency Coverage and Risks as Closely as You Match Workers and Clients

Companies that specialize in placing temporary to permanent workers pride themselves in matching the right person to the right job, whether the assignment is for a week or for many months or more. Unfortunately, the best-laid plans don’t always work out, and employment agency insurance is all that may be between you and bankruptcy should an unfortunate incident happen and a claim result. These companies were fortunate to have a variety of coverages that addressed each situation that, without protection, would have cost them dearly; here is just a sample of what can be covered:

General liability: A temp at a marketing company was attempting to move an oversized storage case filled with heavy convention signage. He tripped and fell, knocking the case into the decorative glass wall in the building’s foyer and shattering it. Cost to pay for damages and injuries amounted to $150,000.

Crime: A worker was assigned to a clerical position expected to last six months. It took two years to discover she had been embezzling money from the company for the duration of her service, but once the damage was tallied, it amounted to $250,000.

Errors and omissions: An ad firm hired a staffing company to secure a high-level brand manager. Not long into the position, the manager bungled several key presentations and caused a long-time account to leave the agency. The ad firm fired the manager and sued the firm for failing to properly screen the applicant who, it turned out, had falsified his resume and references. Cost of the claim reached $72,000.

It’s time to go with a pro

Remember, a single claim can cost an unprotected company so much that its financial health is compromised to the point of failure. That’s why it’s important to speak to a professional insurance agent, who will have the knowledge, experience, and access that you can harness to receive quotes from the very best providers of employment agency insurance. With the help of your agent, you can compare programs and premiums to discern which program will provide the most comprehensive protection for the best price. Furthermore, your agent can help you assess and address operational risks so you can reduce the exposure you face. Call an agent today to learn more.

Manufacturers and Sussex County New Jersey Business Insurance

Manufacturing companies provide products for a lot of industries across the United States. Corporations rely heavily on getting this merchandise on time, so if delays become a problem you may face the threat of losing crucial contracts with major firms. As a manufacturer, you need to consider the impact that an equipment breakdown issue could cause your business.

First of all, your operations are immediately interrupted which brings up the question of how will you deliver your orders? If you don’t currently have backup equipment, you may need to find alternate facilities or rent equipment, either of which will increase your costs. Some of your customers likely cannot wait because they have deadlines as well, so there’s a good chance that orders may be cancelled, which means you will also suffer loss of revenue, along with possible damage to your reputation. Sussex County, New Jersey Business Insurance is necessary to provide some financial assistance to address these issues.

Examples of different types of mechanical issues

Air conditioning and refrigeration represents the number one source of breakdown claims. A number of different types of equipment can be affected, such as pressure vessel, mechanical, electrical and electronic. And, because many air conditioning units are located up on the roof, there can be the added expense removing the unit, often with the use of a crane or helicopter.

Boiler and pressure vessels are commonly used for heat, hot water, steam production and processing. Cookers, sterilizers and some cleaning equipment are other common types of pressure vessels. Boiler and pressure vessel accidents often occur due to defective welding, scale or sediment build-up, overpressure, or the failure of control or safety devices. Anyone in near vicinity would likely be injured when a major malfunction occurs.

The third most common issue for most manufacturers is electrical systems, which represent up to 15% of a building’s value. Components include transformers, panels and cables, and because these are interconnected, excessive voltage in one component can lead to significant damage to others.

If your company uses computers, elevators and escalators, or robotics, then an equipment issue could be in your future. Get the protection you need by having Business Insurance in Sussex County, New Jersey that includes equipment breakdown coverage.

Equipment Malfunction and Convenient Stores Insurance

As a convenience store owner, you thrive on regular daily business from hundreds of people or more. Whether they’re regulars who have come to rely on the ability to pick up their usual purchases quickly and easily with little or no hassle, or infrequent customers who are in a hurry and enjoy being able to grab a few handy items in minutes, you represent a growing trend among consumers throughout the US.

But your business relies upon electrical, mechanical and electronic equipment to keep you up and running. Commercial property policies specifically exclude many key risks associated with such equipment, such as any loss that is due to mechanical breakdown, or electrical arcing, and these are issues that can easily become a source of business interruption, which can be costly depending on how long you are temporarily unable to provide your services. Convenient stores insurance and specifically equipment breakdown insurance fills many of these coverage gaps.

Equipment breakdown coverage reduces down time

Convenient stores insurance coverage can help you to get your customers back in line and buying your products rather quickly. Partner with an agency that can provide you with a team of experts available to assist you in finding the right coverage at the right price to meet your unique needs. In the event you ever do experience a breakdown with your equipment, a claims expert should respond quickly and find replacement equipment to ensure minimal disruption to your business.

Unfortunately these types of breakdowns can be rather expensive. In addition to any damage sustained to the equipment itself, damage could also occur to buildings, your stock, merchandise and other contents of the store. If your business is forced to temporarily shut down or reduce production as a result of a breakdown, significant loss of income could result.

It’s much smarter to have insurance coverage in place now, rather than wait to have an occurrence where electronic cash registers fail to work, or your refrigerator units cease to function. The losses could even be catastrophic and without coverage the out-of-pocket expense could be a burden to large to recover from. Speak to an agent about Convenient stores insurance and get the protection you need and deserve.

Finding the Right Business Insurance Coverage in Orlando

Owning a business in Florida is a big responsibility. Anyone owning their own business is probably quite aware that this comes with a number of risks and exposures. A lot goes into launching and running a small business, and the financial responsibility to employees, partners, and the public can be enormous. Part of the risk of any small business involves suffering a loss of critical tools or property or even liability to others. If anything goes wrong it can cause loss of income or worst case, even force you to close your doors.

This demonstrates the need for business insurance coverage in Orlando. Larger companies have an advantage because they can afford to employ full-time risk managers to help keep their losses to a minimum, but for many small business operators, this isn’t an affordable option. Often you are acting as your company’s risk manager, or perhaps this task falls on the personnel director or office manager, and they may not have the tools to implement a viable risk management plan.

The list of exposures runs long

As an owner you have to contend with a lot of different problem areas associated with running your own business. General liability, property insurance, business auto (particularly if employees use their own vehicles for work), and workers compensation, and that’s only the tip of the iceberg.

If your company is at risk for a major lawsuit you’ll likely benefit from umbrella insurance which kicks in when you exhaust the liability limits on your primary policy. It takes an awful lot to keep a company up and running and even harder work to become successful at what you do.

While taking on the responsibility to ensure that all the required work is getting completed on a daily basis in order to make your firm profitable, you cannot side-step the issue of making certain that you are properly insured against all possible concerns.

Keeping risks and losses to a minimum is a cornerstone of business success, especially for a small business entity. Take the time necessary to check your risk factors, find out everything you need to know about business insurance coverage in Orlando, and learn about the many options available.

D&O Coverage and Newmark Insurance in Austin

If your company runs a Board of Directors, members of that board can fall prey to legal issues stemming from their duties. Whether you’re a public company, privately owned firm, a non-profit, or an association, the directors and officers and executives of your organization face exposures that put at risk the company’s assets and even their own personal finances.

Newmark Insurance in Austin can provide you with Directors & Officers (D&O) insurance designed to protect a company and its executives against allegations of wrongdoing in their capacity as directors and officers. The fact is that claims can be brought by the company’s stakeholders, customers, consumer groups looking to lay blame, or competitors looking to advance their own agenda. Even business partners (vendors and suppliers), and government enforcement/regulatory groups could find cause to bring about litigation.

Those appointed to the board will insist on D&O coverage

In many cases, when you appoint directors or hire new officers they will demand D&O coverage as a condition of serving or employment because they don’t want to be concerned that their personal assets could be at stake. Sometimes outside investors (such as venture capitalists or other financiers) will require D&O policies before providing funding to your business. They consider having this coverage in place as one way to protect their investment.

Directors and officers are sued for a variety of reasons, including misuse of company funds, misrepresentation of company assets, fraud, failure to comply with workplace laws, and lack of corporate governance among other issues. The simple process of hiring employees potentially exposes directors or officers to employment practices litigation (EPL), which may be covered by some D&O policies. However, it may be best to purchase a separate EPL policy that protects not only the directors and officers, but also the company itself.

Claims over employment practices are now the most common lawsuits brought against those in a company’s management positions. As with any type of insurance coverage, small and mid-sized businesses should work with professionals familiar with the associated exposures.

Newmark Insurance in Austin can provide an agent or broker who understands D&O policies and the intricacies involved in coverage. D&O may be offered with a portfolio of other products, as well.

Marine Insurance, and Why You Need It for Your Goods in Transport

Marine insurance programs are available for any operation that needs to transport all kinds of goods from one destination to another—and for good reason, because so much can happen between point A and point B. Obtaining coverage for items and cargo in shipment via this policy is an excellent means of mitigating the risk associated with transport.

Policy covers a myriad of goods

The policy can offer protection stemming from the loss of, or damage or destruction to, a wide variety of property and materials while they are in transit or in the care and custody of a bailee—everything from a collection of rare books, valuable papers, or cameras, dollies and movie equipment being conveyed from the studio to a location for shooting a motion picture, to huge props, screens and samples that are en route to a trade show or convention.
Following are other examples of items in transit that coverage is often secured for:

  • Shipments sent by a supplier to a user
  • Private-party shipments from one person to another
  • Shipments from a main warehouse to a retail outlet
  • Samples for use by salespersons
  • Equipment for athletic teams
  • Small or heavy equipment for use at a contractors’ job site
  • Property that is being shipped to a fair, exhibition or convention
  • Equipment or supplies for use by fire or police departments
  • Delicate antiques and fine artwork being sent to a buyer or a museum or out to a skilled entity for conservation,
  • repair or restoration
  • Equipment of any kind that is mostly used off-site

Talk to a professional

Generally speaking, if you are moving any piece of property from one place to another, it is eligible for protection and there are a wide variety of marine insurance programs available to provide it. Speak to a professional, experienced insurance agent for guidance about this coverage and to ensure that you purchase the exact coverage and amounts that are appropriate for your needs. Your agent has access to multiple companies that offer this coverage and will be able to obtain quotes from each one for the coverage you need, so you can be sure you get a competitive price for your policy. Call today to learn more.