injured man being treated by paramedic

Who Needs General Liability Insurance In NJ?

All businesses need some type of insurance. The last thing that you need as a business owner is to find out that your business is not covered when something goes wrong. However, this means that you have got to be on the ball when it comes to insurance.

One policy that you are going to need is general liability insurance, and in this article, we’re going to be looking at some of the information that you need to know about it. Keep reading if you would like to find out more about general liability insurance, including what it is, who needs it, and why.

What Is General Liability Insurance?

General liability insurance provides businesses owners with the opportunity to protect themselves if someone is trying to sue the company for something. These kinds of claims are extremely common, and this type of insurance helps to protect from claims of copyright infringement, reputational harm, bodily injury, advertising injury, and even property damage.

Your policy should help to protect you against any bodily injuries and property damage that your business may have caused. This could be a fall from a customer or an accident with one of your employees.

Who Needs General Liability Insurance?

Ideally, all businesses need this type of insurance as it is the kind that covers many bases. It’s more common than not that you are going to see this policy attached to small businesses, but larger companies can massively benefit as well. Your business will never be too big to be threatened by someone suing your company. In fact, the bigger your business, the bigger pay day people will imagine when they see you.

The reason that you see more small businesses having this type of protection is because they can’t afford the claims. While the insurance doesn’t mean you get away paying no reparations for what occurs, it means that you get off relatively easily. For example, the average cost of a slip and fall claim is around $20,000 and small businesses simply do not have the funds to cover this.

Why Do People Need General Liability Insurance?

General liability insurance protects businesses, and this is the long and short of it. People need general liability insurance to ensure that if someone brings about a claim against them, fact or fiction, it will not cripple them. Even small claims can cost a business tens of thousands of dollars, and if your business is still new, or not on solid ground with finances, it could be the end of the business.

We’re sure that you have heard the saying "it’s better to be safe than sorry", and that is exactly what this insurance is for. Keeping your business safe and protecting it from any threats that may emerge are two of the most important things that you can do for your company. Getting a general liability insurance policy is one of the best ways to do this.

What Is Covered Under General Liability Insurance?

There are five kinds of liability claims when it comes to general liability insurance. The first is a bodily injury that your business causes. This is one of the most common claims and comes about if someone claims to be injured in your place of business. Your insurance would cover their medical costs, which is what they would seek if they took action against you.

There is also copyright infringement, which comes about when you are accused of using someone else’s work without their permission. This is usually has to do with your marketing.

Then you have reputational harm, which will occur if you said something about another business in a news interview that has negatively affected their business. This could be related to the business owner, the business in general, or a particular aspect, such as their service, product, or employees.

Property damage is one of the other most common general liability claims, and this is where someone’s property has been damaged while at your business. This also includes things such as if your employee’s break something in a client’s home when visiting on business. It’s common to see these kinds of cases go to court, and this rule now applies to electronic data as well.

The final liability claim is advertising injury. This happens if your business defames another person, business owner, or company. It’s important to understand that paying out even a single general liability claim is going to be expensive, and can take its toll on your business. Instead of allowing this to happen, get general liability insurance and protect yourself.

What Does It Not Cover?

As you can see from above, there are a lot of things that are covered by general liability insurance. But, there are also some things that are not covered. For example, business related auto accidents won’t fall under this category, nor employee injury or illness. Damage to your business property, claims that exceed your policy limit, illegal acts that were completed on purpose, or mistakes in professional services are also not covered under general liability insurance.

You will need different policies if you want to be covered against any of these, which we highly recommend.

Purchasing General Liability Insurance in NJ

We hope you found this article helpful and that you now have a better understanding of general liability insurance. Ideally, businesses need this type of insurance if they want to remain safe in any industry. The amount of claims that this insurance can protect your business from is astronomical, and you’ll be kicking yourself if you don’t invest in it before something unfortunate happens.

If you are interested in purchasing this kind of insurance, get in touch with Harrah & Associates to see what we can do.

a table labeled charity with a box of medicine on it

An Insurance Guide for Nonprofit Organizations

As a nonprofit organization, it is vital that you have the correct and relevant insurance policies in place. The right insurance policies are specifically designed to reduce an organization's risk and vulnerabilities to potential lawsuits that could be filed in relation to the work you are conducting.

It is important to review your current policies, and needs as an organization, to ensure every policy you already have is up to date and relevant, and any additional insurance policies are adequately sourced.

As a nonprofit organization, it is likely that you have a 501c3 tax-exempt status. However, you will still require different insurance policies to protect your organization against a variety of factors, such as loss resulting from an employee accident, motor vehicle collision, negligent acts, cyber attacks, and much more.

This guide will help you if you are wondering what insurance policies your nonprofit organization may require.

Understand Your Needs/Requirements

The first and most important step you should take is to sit down and thoroughly review the work that you complete, in order to better understand your insurance needs and requirements. Without this in-depth knowledge of all aspects of your organization, you may fail to protect important areas, resulting in costly consequences. You will also need to consider your organization's objectives, risk tolerances, and future goals.

Another important aspect of finding the right insurance policies is considering the individuals who are involved in your organization and the assets. For example, employees and volunteers, the board of directors, office space and/or properties, vehicles, contracts, and inventory.

Types of Insurance

There are many types of insurance that a nonprofit organization may need. Below are some of the most common insurance policies that are sourced. However, it will entirely depend on your business needs as to which policies are suitable for you.

Contact a trusted insurance broker who can tell you exactly what insurance policies that you may need. It can be a complex area to navigate, as nonprofit business needs significantly differ from standard commercial businesses.

Liability Insurance

Liability insurance is vital for any nonprofit organization, as it will protect your business against claims of negligent conduct by a member of your organization. Negligence claims are brought against a person or organization if it is alleged that they have failed to uphold a certain level of service that is expected of them, for example, not providing a good standard of care to another individual which leads to a serious injury or death.

The right liability insurance will cover your organization for a range of things. Examples include if an injury has been sustained, any property has been damaged, in cases of slander and defamation, and any advertising activities that result in copyright infringement.

There are also more specific liability insurance policies that you can consider, such as directors and officers liability, which protects those involved in running and managing the organization, along with allegations of breaches or wrongful acts. There is also publisher's liability insurance, which covers the organization and any materials that are printed as publications, newsletters, magazines, etc.

An insurance broker will help you find the right liability policy that will cover the aspects that apply to the work that you do.

Cyber Coverage

Unfortunately, every organization, regardless of how big or small, is vulnerable to a cyber attack. It was reported in 2018 that there were over 80,000 cyberattacks per day and small businesses were at a loss of, on average, $34,604, which resulted in 60% of them going out of business within 6 months of the attack.

There are many types of attacks that an organization is vulnerable to, for example, ransomware, crypto jacking, and malware. There is no industry that goes untouched by cyberattacks, and they are only growing in sophistication by the day. Therefore, it is vital that any organization is well protected with anti-malware and anti-virus software, but also with cyber insurance coverage.

Insurance is important, as many attacks occur because of personal error, identity theft, or malicious insider and social media accounts, which are not always protected by software alone.

Business Auto Insurance

Business auto insurance is vital to protect any nonprofit organization that uses and/or owns motor vehicles. Regardless of how big your fleet is, business auto insurance will commonly cover any losses incurred because of a collision. To what extent the vehicles are covered will depend on the level of insurance obtained. Your employees and volunteers would typically be covered under the liability insurance if they are at fault.

Workers’ Compensation

In some states, such as NJ, all organizations are required to have a workers compensation insurance policy in place if you have at least one person being paid to carry out work. This type of policy is there to protect both the employer and the employee, and to cover any losses that result from an injury in the workplace.

In the unfortunate case of an injury, there may be medical expenses, compensation, and financial losses in the form of lost earnings that are incurred. The policy will protect you against a lawsuit and provide your employees with what they need to move forward.

Commercial Umbrella Policy

A commercial umbrella policy is an excellent addition to your current policies, as it is only activated if you have exceeded the limits of an existing policy that you have. In the unfortunate event that you are involved in a significantly large liability loss, this policy will help you bridge the gap by providing your organization with additional policy limits.

Purchasing Insurance for Your Nonprofit Organization

These are just some of the most common insurance policies that are important for nonprofit organizations. Every organization will be unique with what policies they require and each insurance policy will have its own criteria, which it covers. It is important to speak to an insurance broker who can help you protect your organization and provide you with relevant and specialist advice.

front exterior of large, brick home

Types of Homeowners Insurance Policies

Homeowners insurance is one of the most essential investments you can make to safeguard your house and, thus, your family, from unanticipated costs that you would otherwise have to pay yourself.

If you're looking for homeowners insurance, you undoubtedly have a lot of questions. How much protection do you require? How much will insurance cost? What variables impact your deductible? Are there any home renovations, enhancements, or adjustments that may help you save money on your insurance?

These are all excellent questions to ask. Another critical issue to consider is: what kind of home insurance policy do I need?

Below, we go through six kinds of homeowners insurance plans and explain the major distinctions between them. This should help you understand what you need, but of course, speaking to an expert is the best thing you can do if you have further questions.

HO-1 Basic Form

HO-1 insurance is known as basic form homeowners insurance because it's the most fundamental homeowners insurance available. Your house will usually be insured at its real cash value if you have an HO-1 policy. HO-1 insurance can cover personal items, however, this is not always the case.

HO-1 covers:

  • Lightning or fire
  • Windstorm or hail storm
  • Explosion
  • Riot or civil unrest
  • Aircraft
  • Vehicles
  • Smoke
  • Mischief and vandalism
  • Theft
  • Eruptions of volcanoes

Damage or loss caused by non-specifically mentioned occurrences is not covered.

Many insurance companies no longer sell these plans since they give so little coverage and do not cover certain commonplace occurrences (such as damage caused by falling items or the weight of snow or ice on a roof). Most individuals should avoid HO-1 insurance.

HO-2 Broad Form

HO-2 insurance is often known as broad form homeowners insurance since it covers a more extensive range of hazards than an HO-1 policy. Typically, HO-2 insurance will cover your house at its replacement cost. Personal property will be insured at its fair market value.

Typically, HO-2 insurance will cover everything that an HO-1 policy does, plus extra coverage for damage caused by:

  • The force exerted by ice or snow on a building
  • The unintentional release or excess of water or steam
  • Freezing
  • Cracking or swelling produced by an unexpected occurrence
  • An accidental discharge caused by an intentionally produced electrical current (i.e., a power surge)
  • Falling objects

HO-2 policies are more useful than HO-1 policies, although they're still less common than HO-3 and HO-5 insurance. This is because of the limited coverage they provide in comparison.

HO-3 Special Form

The most popular kind of homeowners insurance is HO-3 coverage, which is sometimes referred to as special form coverage. Your house will usually be insured at its replacement cost under HO-3 insurance, while your personal property will be protected up to its real cash worth. In most instances, an endorsement may be added to your policy for a fee to offer replacement coverage for your personal goods.

When compared to HO-1 and HO-2 plans, HO-3 covers a considerably wider range of hazards. This is because, while HO-1 and HO-2 plans only offer coverage against particular specified dangers, HO-3 insurance will cover your house against losses caused by any hazard except those specifically excluded in the policy.

The following hazards are often excluded from an HO-3 policy:

  • Earthquake
  • Flood
  • Landslide/mudslide
  • Nuclear accident
  • Sinkhole
  • Neglect
  • Warfare or government action

Most homeowners will benefit from this kind of insurance. It's no surprise that it's the most popular home insurance coverage.

HO-4 Contents Broad Form

HO-4 is sometimes known as renter's insurance. As a result, HO-4 insurance is intended especially for individuals who rent or lease an apartment, house, or condo.

Renters' insurance protects a renter's personal property (at replacement cost) against the same listed hazards as an HO-3 policy. Renter's insurance will usually pay your living costs if your leased property becomes unlivable due to damage caused by a specified hazard, such as a fire, and you need to find a new place to live. Liability coverage may or may not be included in HO-4 insurance.

HO-5 Comprehensive Form

HO-5 insurance, often known as a comprehensive policy, is widely regarded as providing the greatest level of coverage for single-family houses. It is comparable to an HO-3 insurance policy in many respects, but with additional protection and a few significant distinctions.

An HO-3 only insures your house at its replacement cost, while your personal items are protected at their real cash worth. An HO-5 policy insures both your home and your personal possessions at replacement cost (which is typically higher than cash value).

Furthermore, while an HO-3 restricts coverage for personal items to just specified hazards, an HO-5 covers your belongings for all the same risks as your house. Finally, HO-5 insurance usually includes greater coverage limits for certain kinds of personal property, such as art, jewelry, and technology.

Because of the more significant coverage limits provided by HO-5 insurance, this is an excellent option if you have a lot of high-value personal property in your house or if you just want the most coverage available. HO-5 is the second most popular homeowners insurance coverage after HO-3.

HO-6 Unit Owners Form

An HO-6 policy, commonly known as condo insurance or unit owners insurance, is a kind of coverage explicitly intended for people who live in a co-op or condominium.

In most instances, the condo association will have HOA insurance, which will usually cover the condo building itself, as well as specific common spaces. While each HOA insurance will differ in terms of how much and what it covers, as the unit owner, you will need to buy coverage for anything the HOA does not cover. This will often contain protection for:

  • Any additions, renovations, or enhancements done to the unit after you bought it
  • The unit's walls, floor, and ceiling
  • Personal belongings
  • Loss of use
  • Personal liability

Because HOA plans vary so much, it's critical that you understand precisely what the master insurance covers so that you can buy sufficient coverage for your individual unit. If you own a condo or co-op, you'll almost certainly require HO-6 coverage.

Renters' insurance is required if you rent one of these condos (HO-4).

chef cooking food in a pan in restaurant

8 Tips on Choosing an Insurance Provider for Restaurants

Did you know that 75% of all businesses are underinsured? This can leave vulnerable establishments open to all sorts of serious losses in the event of an unforeseen situation. Restaurants, in particular, are especially prone to these types of uninsured losses. There are many potential threats that a restaurant faces every day, from property damage to food contamination.

For these reasons, restaurant owners need to find an insurance provider that can protect them from these unexpected expenses. Unfortunately, finding the right provider is easier said than done.

That’s why we made this list of tips to keep in mind when looking for insurance companies for your business. That way, you know you’ve made the right decision.

Eight Things To Keep in Mind When Choosing a Restaurant Insurance Provider

It’s a sad fact that many insurance providers don’t have their client's best interests in mind. Many can’t even pay when a serious loss occurs. So how do you prevent this from happening?

You can start by following these eight tips when looking for restaurant insurance.

1. Ask Around Your Network

Before you hop online to find an insurance provider for your restaurant, consider asking around your networks. Friends, acquaintances, and even family members might have some suggestions about who you should pick, and who you should avoid.

If you know any other restaurant owners in the area, then ask what insurance provider they go through, if any. This can help provide you with some leads to follow vs having to trust a stranger's word on the internet.

2. Is the Insurance Provider Accredited and Financially Stable?

An insurance company needs to be accredited by the government. This makes sure that they follow rules and regulations. For example, certifications like those provided by the NAIC Accreditation Program are typically a good sign that you can rely on the insurance company.

You should also make sure that the company is financially stable. This is important if you ever go through an emergency that requires payout on your policy.

You can typically ask for an insurance provider’s financial statements if you want to learn more about this.

3. Make Sure Your Provider Offers Common Types of Insurance Coverages

At a bare minimum, you should at least consider getting property insurance and general liability insurance. These will help protect you from damage to your property, or unexpected injuries that occur in your restaurant.

However, these are far from the only types of restaurant insurance to consider. Depending on your needs and budget, try to take on a lot more if you want to cover your bases.

If you want to learn more about the different types of restaurant insurance, check out our guide here.

4. Do They Also Offer Additional Protection?

If you can afford it, then additional protection helps you deal with more specialized threats. For example, loss of business insurance provides some extra help if you experience a sudden drop in sales. Food contamination insurance can help replace all the contaminated food in the event of a power outage.

And, specific peril insurance can help protect against things not covered by general liability, like certain natural disasters. This type of additional protection helps fill in any weak spots in your insurance policy.

5. Does Your Restaurant Serve Liquor?

If you have a liquor license for your restaurant, then you will likely need a liquor liability policy. Many states require that restaurants have one. However, even if you don't, it’s still a good idea to have it.

This policy protects you from potential drunken customers that drink too much and cause damage. Which, depending on the location and clientele of your restaurant, can be essential for any owner.

6. Don’t Be Afraid to Ask About Price

Don’t be scared to ask your insurance provider about how much their policies cost. A good provider will be able to work with you to fit your budget needs. They’ll do this by providing multiple options at affordable prices.

Ideally, you want to find the right balance of coverage with affordability. If the provider doesn’t offer you enough options, then try to keep shopping around. It can take multiple quotes before you find the perfect policy for your needs.

7. Read Online Reviews

It’s important to see what other clients think of this insurance provider. Online reviews are a good place to start. See whether the reviews are generally positive or negative.

A lot of positive reviews is a good sign. Just take the occasional negative review with a grain of salt. After all, you don’t know the person writing it. However, a lot of negative reviews is a clear sign that the company might not be for you.

8. Try Testing Their Customer Service

Quote shopping is also a good way to test out a provider’s customer service. Good customer service is crucial when you’re trying to receive payments promptly. You should try to gauge whether they’re professional and fast in this manner.

Try getting in touch with customer service and asking questions. If they respond in a quick and informative way, then it’s a good sign that you can trust them.

Need Restaurant Insurance In NJ? Contact Harrah & Associates, Inc.

We hope this article helped you learn some tips when searching for a restaurant insurance provider. If you live in the NJ area and still aren’t sure where to start, then consider Harrah & Associates, Inc. For over six decades we’ve been serving the community with the protection they deserve by working with a wide network of insurance providers.

That way, we can provide you with coverage for your business that’s both affordable and comprehensive. If you want to find out more about how we can help your restaurant, then contact us today.

worker compensation file with judge's gavel

7 Workers' Compensation Claim Mistakes and How to Avoid Them

There are an average of three million non-fatal workplace injuries and illnesses that occur at places of work every year. Most of the workers involved in those incidents are entitled to workers' compensation benefits.

In order to receive the benefits that you deserve, though, you need to ensure that you accurately file a workers' compensation claim. Taking too long to file the claim and not adequately documenting the incident are just two examples of mistakes that could hinder the process and result in you not receiving benefits.

If you're interested in knowing the most common workers' compensation claims and how to avoid them, keep reading.

1. Failing to Report Your Accident as Soon as Possible

One of the biggest and most common mistakes is not submitting claims on time. This is a mistake that will cost you money and a lot of headaches in the long run.

If you want a chance at receiving benefits and compensation, then you need to report the incident to your employer as soon as possible. It shouldn't take you longer than five days to report it.

A verbal report won't cut it. You need to give a written report.

The written report should be truthful, detailing the extent of your injuries and the events that preceded the incident. This way, the insurance company will find it difficult to poke holes in your story and find inconsistencies to use against you.

Reporting workplace accidents immediately after they occur is the best way to avoid this.

2. Not Adequately Documenting the Details

When an incident occurs at work that results in an injury, it's vital that you collect as much evidence and proof as possible. If you don't document the incident, then it is simply your word against the insurance company.

Ask all the important questions — who, what, when, where, how much, and what else? Take photos when the incident occurs, get reports from any eye-witnesses, and ask them to sign their statements. Every bit of evidence that you can secure will help immensely when making your claim.

Keep detailed notes of everything that occurs following the incident, too. If possible, ask for urgent care or emergency room reports, too. Compile a dossier of important workers' comp documents to help your case.

3. Not Hiring an Experienced Workers' Comp Lawyer

Attempting to secure compensation benefits from a workers’ comp claim can be a complex and lengthy process. If you hope to receive the best compensation possible, then hiring a workers’ comp lawyer is a must.

You simply don’t have the legal know-how and expertise of the ins and outs of the workers’ comp system. It’s not a simple and straightforward process and without a lawyer, you may receive subpar benefits, if any.

Most workers’ comp lawyers charge on a contingency basis, so don’t make the mistake of not hiring an attorney because you’re worried about fees. You’ll only need to pay them once they’ve secured a settlement for you.

4. Not Explaining Your Injury in Detail to Healthcare Providers

The workers’ compensation benefits that you will be entitled to are very much based on your medical records and the accident report made at your place of work.

If a dispute arises and the insurance company attempts to contest the claim, one of the first places they’ll look is at your medical records. So too will a judge when making their decision about the claim.

This is why it is so important to fully explain your injury to the medical provider that you see — especially if they are appointed by the insurance company.

5. Not Getting a Second Opinion

When you’re injured at work, you have to visit the doctor that is appointed by your employer. However, if you have your own doctor that you visit when sick or injured, seek their expertise, too.

Your doctor knows you and your medical history and will give you better medical counsel. Your doctor’s opinion, especially if it contradicts the employer-appointed doctor, will be important in securing compensation.

6. Ignoring Doctor's Orders

If you don’t adequately follow your doctor’s orders your claim will seem disingenuous. This means that you should never miss a doctor’s appointment or rehabilitation session, and you need to adhere to the recovery routine that they have set out for you.

Workers’ compensation benefits are in place to assist injured workers as they recover. If you are disrupting your own healing process, your claim may be denied or your benefits discontinued.

If you disagree with your doctor’s orders, don’t simply ignore them. There are official steps you can take with the help of an attorney to ensure that you’re still in bounds to receive benefits on different terms that better suit you.

7. Going Back to Work Too Soon

Every day that you’re not at work it costs the insurance company money. It makes sense for that reason that the insurance company will attempt to pressure your employer to find work for you.

This may be work that isn’t in your job description, such as simple labor, to keep you busy just so that you’re back at work and the insurance company can decrease your benefits.

You should request a job description of your job from your employer. Then, ask your doctor to review the job description and advise whether you are capable to undertake the duties according to your injury and recovery.

Make Sure You Get the Most Out of Your Workers’ Compensation Claim

It’s important that when you make a workers’ compensation claim, you don’t become a victim because of silly mistakes that could have been avoided. Ensure that you file the claim as soon as possible and hire a workers’ comp attorney to support and advise you throughout the proceedings.

It’s important to file an accurate and timely claim. If you need help with your workers’ compensation claim, we’re here to assist you — get in touch with us today.

looking at health insurance information on a laptop

A Beginner's Guide to Group Health Insurance

In 2019, there were almost 29 million uninsured Americans. Many companies say they can't afford health insurance for their employees. If you are looking for affordable options for health insurance for you and your employees, group health insurance is a great option!

Keep reading to learn more about what group health insurance is, the benefits of group health insurance, and more!

What Is Group Health Insurance?

Group health insurance offers insurance plans for larger groups of people. This can be any type of group but is most often consisting of employees in a company. Rather than having individual plans, group health insurance plans offer full-time employees benefits.

There are many benefits that come from using this type of insurance for employees. These types of plans are common in the United States and Canada

How Does It Work?

To start a group insurance plan, your company or organization will choose a plan that works for them. Employees and group members are not required to join, but they have the option to accept or decline coverage.

In many cases, you can also choose a plan with coverage for your dependents! While it may seem too expensive to get a group health insurance plan, it actually often costs less. Because there are so many people who use the plan, it makes it a more affordable plan.

Benefits of Group Health Insurance

There are many reasons why you should consider getting or joining a group health insurance plan. Here are the top group health insurance benefits.

It Is Easy to Be Accepted

As mentioned before, there are millions of people in the United States that have no health insurance coverage. Many times, people with chronic illnesses or medical issues are not able to get coverage. Their medical issues make them a risk for insurance companies to accept and to cover.

However, it is easy to get accepted to a group health insurance plan. The plan will apply to anyone in the group and it doesn't even require a physical exam or a medical history. So, this is a great option for people who have pre-existing conditions, who are at higher risk, and for those who have struggled to get insurance coverage.

Lower Costs

If you are considering getting a group health insurance plan for your employees, one of the main benefits is that the cost of insurance is less than your typical insurance plans. Because there are so many people in a group, the risk is spread among all group members. This makes it less expensive.

Another reason why it is less expensive to use a group health insurance plan is that the cost is spread between the whole group. Group members will all contribute to the total premium cost.

Because group health insurance is less expensive than individual insurance plans, it is a great and affordable option for you and your employees!

Tax Benefits

Not only do group health insurance plans cost less upfront, but they also are often tax deductible. When you are filing your taxes, you can save even more money.

Before you file your taxes, research the available tax deductions and options that will allow you to save money on your taxes.

Happier Employees

Finally, one of the biggest benefits of having a good health insurance policy for your employees is that they will be happier and more productive. In fact, a study by Oxford showed that workers that are happy are 13% more productive.

If you provide good benefits for your employees, you will see a return on productivity levels in your workplace.

Types of Health Insurance for Employees

There are many types of health insurance that you can consider for your employees. Depending on the type of insurance and the plan you choose, the quality and price of the plan will differ.

Here are the most common types of health insurance for employees.


HMO plans are also known as health maintenance organizations. In this type of plan, your employees choose a primary care provider from in-network providers. With this type of plan, the costs of your plan are lower and more predictable.

Copays and deductibles in HMO insurance plans are often lower. This is a great option for health insurance if you are looking to cut costs!


PPO plans are also known as preferred provider organizations. In this type of plan, you don't need to choose a primary care provider. You can choose the doctors that you want to see.

If you choose a doctor within the network, you get a higher level of coverage, but you can still choose doctors out of your network.


An EPO plan is also known as an exclusive provider organization. It is a mixture of both HMO and PPO plans.

Just like with a PPO plan, you don't need to choose a primary care provider. However, you might not be covered if you choose a doctor outside of the network.

Find a Reliable Insurance Provider Today!

Group health insurance is a great option for any size company and offers many benefits to business leaders and employees. Finding a reliable insurance provider is necessary if you want to get the best plan possible for your company.

If you are ready to get a group insurance policy today, Harrah & Associates, Inc. can help! Our company has been in business since 1955 and we tailor insurance programs to meet the needs and budgets of our clients. Contact our team today to learn more about our policies if you are looking for insurance in New Jersey!

man smiling at camera while using tablet

What Are the Eligibility Requirements for a Business Owner's Policy?

If you run a small business and are looking for insurance coverage, you should consider getting a business owner's policy (BOP). This is an insurance package that comes with both commercial property insurance and general liability insurance.

Because of its relatively low price and wide-ranging coverage, insurance agents usually recommend this policy. However, not all companies will be eligible.

So, what are the eligibility requirements for a business owner's policy? And is a BOP right for your company? We're glad you asked.

Keep reading and we will walk you through everything to know!

Is Your Company Eligible for a BOP?

Your company's eligibility for a BOP will mainly depend on how risky it is to insure your company. Small businesses that are operating in low-risk industries have the best chances of getting approved because there is less likelihood for claims.

If your company meets the following guidelines, it could very well qualify for a BOP.

First, your company must employ less than 100 people and you need to have a small office or a commercial space. You also need to bring in less than $1 million in yearly revenue and you need to have less than one year of business interruption insurance.

What if Your Company Employs More Than 100 People?

If your company employs more than 100 people, then you probably do not meet the business owner’s policy qualifications. Depending on the company's yearly revenue, you may be able to get approved if your payroll is slightly more than 100.

A lot of companies that employ more than 100 people tend to be considered medium-sized businesses. These kinds of companies would need to buy policies separately.

What Protection Does a BOP Provide?

The leasing company that owns your office space might want to make sure that your company has general liability insurance. You might also have a customer who wants to include liability protection in the terms of a contract.

If your company meets the qualifications for a business owner's policy then it is a good idea to purchase the policy. Even when it is not required, your company will benefit from the policy's protection against common business lawsuits and losses.

General Liability Insurance

General liability insurance is going to cover situations like customer property damage, advertising injuries, and customer injuries. It can help small businesses avoid bankruptcy and pay legal fees during a lawsuit.

If you want to rent commercial office space or sign new clients, then you can also benefit from having general liability coverage.

Commercial Property Insurance

Commercial property insurance protects your business property and your place of work. For example, if your office space gets damaged by fire then your commercial property insurance will help you replace damaged furniture, supplies, and equipment.

This kind of insurance coverage will also cover theft of your company's property.

Why Is a Business Owner’s Policy Important?

It is important to have a BOP because it can save you a lot of money in the long run. If your company needs to file a claim, then insurance is going to help you cover the costs.

Depending on your coverage limits and deductible, a claim that could otherwise cost you thousands of dollars will only cost you a few hundred.

If you don't have insurance, then you would need to pay for the losses on your own. Having just one expensive claim could put your uninsured company into debt.

If your business meets the requirements for a business owner's policy then this would be a smart investment for your company's future.

What Should You Look for in a Business Owner’s Policy?

If your business is eligible for a BOP then you want to make sure that you understand your options and get the proper amount of coverage. If you need to file a claim, then you want to make sure that insurance money is going to cover most of the loss.

Before you get a policy it is important that you consider endorsements and look at your policy limits.

Your business owner’s policy is going to have policy limits. This is the maximum amount of money that your insurance provider will pay for a covered loss.

Most policies have low coverage limits, which is why they are best suited for small businesses. When you purchase a BOP, you get to set the coverage limits.

It is important to make sure that your general liability insurance can cover the cost of a lawsuit, such as court costs and lawyer's fees. When it comes to commercial property insurance, set the limit to match the total value of your company's property.

An endorsement is an add-on policy that you can buy to give yourself more coverage for a certain situation. For example, a tech company might benefit from getting cyber liability insurance so that they can protect against data hacks.

Are You Eligible for a Business Owner's Policy?

Hopefully, after reading the above article, you now have a better idea of how eligible your company is for a business owner's policy. As we can see, a business owner's policy can be very helpful for a small business that is looking to protect themselves while saving costs. Of course, it's important that you speak with your insurance agent to make sure that you know about all of your available options.

Are you interested in acquiring business insurance for your company? If you are, then contact us today and see what we can do for you!

construction worker laying on his back hurt

Do I Need to Provide Workers Comp Insurance in New Jersey?

Are you a proud business owner that's looking to protect your workers from injury? Are you a bit confused on whether workers' compensation insurance is required? If so, you need to familiarize yourself with workers' comp insurance laws in New Jersey.

You may have wondered, "Do I need to provide workers' comp insurance for my employees in New Jersey?". In short, the answer is yes. However, it's just as important that you understand the different aspects of it.

See below for a guide that'll help you learn all about workers' comp details in New Jersey and how to find the best workers' comp insurance provider around!

What Is Workers' Comp Insurance?

Imagine the horror of receiving a call/update informing you that one of your beloved employees has been injured on the job.

Perhaps he/she was an HVAC technician that slipped and fell at a customer's house. Maybe they were a construction worker that got injured because of the negligence of a coworker.

Whatever the case might be, that worker now has one priority: get healthy. To recover, they need the finest treatment and rehabilitation they can find.

That treatment doesn't come cheap. Because of an injury (at no fault of their own), your worker now has expensive medical bills and lost wages that will hurt their financial well-being.

Workers' compensation insurance (AKA workers' comp) provides them with financial relief. It is used to give injured employees all the benefits they need to prevent a financial setback.

It's also used to protect business owners. Without workers' comp, you would be the one liable for any work-related injuries.

This could lead to some hefty fines and medical bills from which your company might never financially recover. That's why New Jersey views workers' comp as a mandatory form of insurance for employers: it protects both sides.

What Does Workers' Compensation Insurance Cover?

Another reason workers' compensation is so beneficial to your business is that it covers a vast array of circumstances. Contrary to popular belief, it doesn't just cover severe injuries, such as a broken leg or torn ACL. Workers' comp can help cover:

  • Illnesses: Several long-term illnesses can stem from a work environment, such as cancer, depression, heart attacks, strokes, carpal tunnel, and more. Workers' comp offers financial protection from them all.
  • Repetitive Injuries: Not all injuries occur from one accident. Some stem from the repetitive motions of the job, slowly causing these long-term injuries to develop.
  • Fatalities: Unfortunately, a workplace accident can also lead to death. Workers' comp covers all the financial strains of this situation, such as funeral costs and settlements from the deceased worker's family.

New Jersey workers' compensation is crucial because it covers any costs related to a workplace injury or illness. That includes things like permanent disability benefits, temporary total disability, lost wages, medical bills, and physical therapy.

What to Look for in a Workers' Comp Insurance Provider

Now that you understand that workers' comp is legally required in New Jersey and why it's such a benefit to you and your staff, you need to find coverage.

Finding the right workers' comp insurance provider is vitally important. It ensures that you have the right amount of coverage, as well as a provider that's out for your best interests. Here are a few key things to look for in the provider you invest with.

1. Optimal Communication

Will your provider be the one to answer your call when tragedy strikes? You want to make sure that you have a workers' comp provider who prioritizes communication with their clients.

Without it, you and your injured worker might be left to panic. You need a provider that gives its clients (and their workers) definitive next steps along the process.

This can help your employee file a claim and be on their way to receiving the benefits they need as quickly as possible.

2. Rewards for Workplace Safety

In a perfect world, you'd never have to use the workers' comp policy you have. However, accidents happen, regardless of what industry you're in.

Make sure that you're taking the time to educate your employees on proper workplace safety.

As a result, a credible workers' comp insurance provider will offer you a rewards program for having a staff that prioritizes workplace safety in their operations.

3. Industry Savvy

If you take the time to find the right workers' comp insurance provider, you can save yourself a lot of money.

Reputable providers always stay up to date with the latest laws and codes of New Jersey workers' comp insurance. They can keep you informed on how to integrate safe practices into your business model and prevent you from experiencing a lawsuit.

Remember, a workers' comp provider is there to protect your company's future. Although workers' comp might be mandatory in New Jersey, it's a saving grace during an emergency.

Invest in Workers' Comp Insurance Today

Now that you have seen several ways to invest in workers' comp insurance and why it's mandatory in the state of New Jersey, start the process for yourself today.

For inquiries on workers' comp or our other services, please reach out via our contact us page and we will be happy to assist you further.

Finally, take the time to read this article for more information on the 7 questions you should ask before buying commercial insurance of any kind.

a senior citizen getting her blood pressure taken from a young woman

What Is Long-Term Care Insurance?

Around 50% of all seniors 65 or older will need some long-term care because of illness and age. Those odds may have you wondering more about how you would pay for long-term care if you need it in the future. Do you already have insurance in place that will cover those needs?

As a senior, you might have heard about long-term care insurance and be wondering if you should consider it for your own future. Are you wondering what exactly is long term care insurance and what it covers? Are you considering whether you should add this insurance for the future?

Read on to learn all you need to know about long-term care insurance.

What Is Long-Term Care Insurance?

Long-term care insurance can be complicated and comes in a variety of forms. It can sometimes be pricey too, so it's important to understand so you get the coverage you may someday need.

Long-term care insurance, sometimes called long-term health care insurance, is a type of insurance policy to care for long-term chronic conditions. The insurance provides coverage for personal and custodial care and helps with the activities of daily living.

When a person needs these services, it's most commonly provided by home health aides, adult daycares, and nursing homes. These can be long-term services and their cost can add up quickly, which is the reason many businesses opt to get the needed insurance coverage for their employees.

What Does Long Term Care Not Cover

Many people have health insurance that provides coverage for some services. Yet, often chronic long-term conditions reach insurance limits and the insurance is no longer able to cover care. If a person needs to be admitted to a nursing home or needs home health care, regular health insurance will not cover that care.

Many senior citizens have Social Security benefits with Medicare. While Medicare provides good health care coverage, it doesn't provide long-term care. Even long-term disability insurance won't often cover long-term care.

What Does Long-Term Health Care Insurance Cover?

Long-term health care insurance is not like regular health insurance. Health insurance would be responsible for any acute illnesses.

On the other hand, long-term health care insurance covers the needs of chronic illnesses. It covers things like:

  • Nursing home costs
  • Skilled nursing in the home
  • Rehabilitation care

For many seniors, who might need help with activities of daily life like getting up, getting dressed, cooking, and eating, long-term care insurance provides coverage.

Again, it's worth noting that long-term care insurance policies can be complicated. Anyone seeking this type of policy should read it carefully to know exactly what coverage is included. One policy to another can vary.

Cost of Long Term Care Insurance

There are several factors that can affect the cost of long-term care insurance. The actual policy and its coverage will impact the cost. Because custodial care is costly, this type of insurance tends to be higher in price. There are several factors beyond just the coverage that can affect the cost. More on this later.

Age is one factor. Let's look at how age affects cost. Long-term care insurance for a 65-year-old couple costs $3700 annually. A 55-year-old couple, on the other hand, will pay $2100 annually, on average.

As you age, the likelihood of needing long-term care insurance increases, and therefore, so does the cost.

Pool of Benefits

One term you want to learn related to long-term care insurance is a pool of benefits. When you get a long-term care policy, you gain access to "the pool of benefits". The pool of benefits is how much the insurer will pay out on your behalf from the policy.

The pool of benefits is based on two separate values that are a part of the policy.

First, there is the daily or monthly benefit. This is how much the insurer would pay out as a maximum. Imagine needing nursing home care. If the daily benefit is $250, but your nursing home room costs $500 per day, you pay the overage out of pocket.

The second consideration with the pool of benefits is the benefit period. This is the amount of time the policy will pay out the daily or monthly benefit.

You don't have to know much about insurance to understand that the daily and monthly benefits along with the benefit period will affect the rate for this coverage.

Other Factors for Cost

There are few other policy considerations that can also impact the cost of a policy.

The first is inflation protection. This is built-in protection on rate increases based on inflation rates. The other is the waiting period. This is how long you'd need to wait before you can use your policy.

Other factors that can impact cost include:

  • Age of the person covered
  • Health status of the person covered
  • Gender
  • Marital status

These demographics may not be as big of a factor as some other considerations like the pool of benefits, but they are a part of the cost factors.

Who Needs Long-Term Care Insurance?

You might still be trying to decide if you're a person who should get long-term health care insurance. Ultimately, who should consider getting it?

The answer is that anyone who is above the age of 50 should start to consider it. With the cost of custodial care so high, you want to be prepared for the worst-case scenario.

Often, people who have spent their lives saving and investing money don't want to tap into this money for long-term care. They don't want to imagine the money they have worked hard to save getting eaten up quickly covering their custodial care needs.

Also, many seniors find they don't want to become a burden to their children or extended family. They want to know they have the coverage to get the care they need without it impacting others. Likewise, if you're a senior who doesn't have family who could help you, the coverage becomes important protection.

When to Buy Long Term Health Care Insurance

It's already known that the younger you buy the coverage, the less it's likely to cost.

You also want to consider your family's medical history. If there are parts of your medical history that suggest you could have an illness later in life that might require custodial care, it would be smart to get it early on.

Understanding the Ins and Outs of Long Term Care Insurance

Understanding the answer to what long-term care insurance is can help you better understand not only why it's important coverage, but also why it's smart to get it sooner rather than later.

If you're interested in learning more about long-term care insurance, we would love to help. Contact us today to get more information or to set up an appointment to discuss your coverage options.

legal document titled

5 Frequently Asked Questions About General Liability Insurance

Are you the proud owner of a small business? Do you want to find ways to protect your company from an unforeseen setback? If so, then you should learn all that you can about general liability insurance.

Sometimes the biggest setbacks are self-inflicted. All it takes is one mistake on the job to lead to thousands of dollars in damage for another party. That's when general liability insurance can jump in to save the day.

See below for an in-depth guide on general liability insurance. In this article, we answer all the most common questions regarding general liability insurance for your business.

1. What Is General Liability Insurance?

Imagine the horror of receiving a call from your office one day saying that they've made a costly mistake on the job. Even worse, that mistake led to some form of property damage or injury.

In those moments, it might seem like all hope is lost. If you don't have business insurance to back you up, then it will be you that's responsible for covering the cost of repairs and/or recovery.

General liability insurance, also known as business liability insurance, is here to protect you from situations like this. It's meant to provide financial relief for business owners on any claims taken out against their company.

As the name might imply, general liability covers a vast number of scenarios that businesses commonly come across. This includes things like:

  • Property Damage: Damage to another party's property, such as when a faulty repair leads to water damage on a client's house.
  • Injuries: Protects your company from any injuries to a third party, such as a client, from your service or property. Your employees don't fall under this umbrella as that would be a workers' comp matter.
  • Reputation Protection: Provides compensation for any action or claim that would tarnish a person's reputation.
  • Advertising Injuries: Guards your company against any injuries that come from your marketing endeavors.

2. How Much Coverage Do I Need?

Now that you understand the purpose of general liability insurance and what it can protect you from, you might wonder how much coverage you need.

The answer depends on several things. First, you might consider the risk associated with your industry.

For example, if you offer a service such as HVAC maintenance, plumbing, or anything that goes to a client's property, you may want a bit more coverage.

Second, you should consider the worst-case scenario for your business. What are some of the biggest liability cases from companies in your industry? You can research a few articles online to familiarize yourself with them.

After you determine the worst-case scenario, add up the costs and determine how much coverage you want. Remember, you can also add an umbrella insurance policy to provide more coverage if you'd like.

Next, create a budget to see how much you can afford in premiums each month. Try not to just reach for the lowest premiums you can find. That will result in less coverage in an unforeseen emergency.

3. What Are the Benefits of Having a Policy?

You've probably noticed a few benefits of having a general liability policy in this article already. However, there are more benefits to it than meets the eye. Such advantages include:

  1. Possibility for Larger Contracts: If you're looking into landing bigger companies as clients, general liability insurance can help you do so. In many situations, you're required to have a policy before you can even start bidding on their contracts.
  2. Protection for Top-Tier Workers: You want your top talent to know that you have their back. Everyone makes mistakes. General liability insurance can protect your workers from financial liability and keep them from jumping ship.
  3. More Stability: You can't always predict the future. While injuries and damage are rare, it's irresponsible not to prepare for them. General liability insurance will give you coverage in your hour of need. That way, your business operations won't experience a setback.

4. Am I Always Covered?

As long as you have a policy out at the time of the claim, general liability insurance has you covered!

One thing you need to make sure of is not to cancel your policy immediately as you retire. You may still receive a claim from service years prior, then not have the coverage that you need.

Your coverage kicks in at the time of the claim. As long as you have a policy out when a claim gets filed, you're covered.

5. Is It Legally Required?

You may wonder if a general liability insurance policy is legally required. If you're in the state of New Jersey, then the answer is yes.

The state wants to make sure that companies and their clients are financially covered to provide more balance from a business-to-client relationship.

Believe it or not, they're more concerned about you than the client. They want to make sure businesses aren't folding because of the financial setback of a claim.

If an accident were to happen, your provider would step in to try to settle with the other party. That way, you can go about business as usual.

Invest in General Liability Insurance Today

Now that you have seen answers to the most common questions regarding general liability insurance, be sure to invest in your policy today.

Take the time to read up on this article for more information on the different types of business insurance policies. You'll get an explanation of what they are as well.

For more inquiries on investing in the business insurance you need, please be sure to reach out to us via our contact us page and we will be happy to assist you further.