Every year, thousands of business owners open a letter from their workers’ compensation carrier and find an invoice they were not expecting. In most cases, nothing went wrong with the policy itself. The bill is the result of the annual premium audit, and with a little preparation it is usually avoidable. Why audits happen Your…
Every commercial lease contains an insurance clause, and it is usually the least-read page in the document. It also decides who pays when something goes wrong in a space you do not own. Waiver of subrogation cuts both ways Most leases require each party to waive subrogation against the other, meaning your insurer gives up…
A business owners policy bundles property and general liability into one product, and for a lot of small businesses it is genuinely the right answer. The trouble starts when a business outgrows the assumptions the bundle was built on, which usually happens quietly. BOP eligibility is narrower than people think Carriers restrict BOPs by class,…
Employment practices liability is the coverage business owners are most surprised to learn they do not have. General liability does not answer an employee lawsuit, and by the time that is discovered the claim is already open. Here is what the policy actually does. Defence costs arrive whether or not the claim has merit The…
Most business owners buy cyber cover the year after they needed it. The policies are cheap relative to the losses they cover, and confusing enough that the wrong one gets bought regularly. Here is what actually separates them. First-party and third-party are two different policies wearing one name First-party cyber pays your costs: forensics, notification,…
Contractors carry more insurance than almost any other trade, and still lose more claims to paperwork than to accidents. The five gaps below are the ones that turn a covered loss into an uncovered one. Additional insured status is not the same as a certificate A certificate of insurance proves a policy existed on the…
Every commercial policy looks complete until the day you need it. The gaps below are the ones our team sees most often when a claim is already open and the options have narrowed. Coinsurance penalties on an under-reported building value Property policies carry a coinsurance clause that assumes you have insured the building to a…
Most small offices replace a printer long before it is worn out. The usual reason is not a fault but a habit: nobody has cleaned the rollers, the paper tray is bent, and the toner counter has been ignored for a year. What a service visit actually covers A proper service visit is forty minutes…
Every boat that sits through a winter loses a little of its finish. The salt, the sun and the rain each take a small share, and by spring the gelcoat looks tired even when nothing is actually wrong with it. Why the first wash matters The first wash of the season is the one that…
Standard commercial property policies exclude flood. Here is what a flood policy actually pays for, what it leaves out, and how coverage splits between a warehouse tenant and the landlord.
Business insurance can be adapted to your specific business needs. Recommended coverages often depend on the type of business you have and the risk protection your business will need to stay healthy and whole. At a minimum, you should carry business property and business liability insurance – this often comes in the core business owners policy, or BOP.…
As a business owner, you should always feel comfortable with the amount of insurance you carry. Insurance can help you recover from events that would otherwise threaten your company and reduce the likelihood of staying in business. The key is to ensure you understand the true value to repair or replace what you have. When customizing a policy, your…