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

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

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.

EPO

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.


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Why Does Your Business Need a Commercial Umbrella Policy?

Approximately 40 percent of businesses in the United States that are unprepared to operate after a disaster shut down once that disaster happens. 25 percent of all businesses shut down within the first two years because they lack adequate post-disaster cash flow or revenue.

These statistics are depressing, but there’s good news. With adequate insurance, your business can survive the unexpected. It’s the reason many businesses are opting for a commercial umbrella policy in addition to their current business insurance.

But what exactly is a commercial umbrella policy? How does it work? More importantly, how can this type of insurance help your company?

If you’re asking yourself these questions, keep reading.

What Is Commercial Umbrella Insurance?

Commercial umbrella policy coverage is a type of insurance policy that offers extra coverage over your existing commercial business insurance. This policy kicks in the moment the cost of a liability claim surpasses the coverage limits of such liability policies, including:

  • General liability insurance
  • Hired and non-owned insurance
  • Workers comp insurance

Note that umbrella insurance isn’t a separate insurance policy. Rather, it’s added to the policies a business already has.

Every company can benefit from this type of insurance. Disaster can strike unexpectedly, and your standard liability policy won’t always be able to cover the costs of a large liability claim.

How Commercial Umbrella Insurance Works

Commercial liability insurance extends the limits of your primary liability policies. One of these is commercial car insurance.

For instance, your business is found liable for a client’s injury at your company. The client sues for $2 million, but you only have $1.5 million in liability coverage. Your commercial umbrella coverage will make up for the shortfall, subject to its coverage limits.

What a Commercial Umbrella Policy Covers

Generally, a commercial insurance policy will help you cover the claims of bodily injury, both for employees and customers. The policy can also help pay for property damage caused by your business to another party’s belongings.

Again, remember you must have general liability insurance before getting commercial umbrella insurance.

Why You Need Commercial Umbrella Insurance

Many small businesses assume commercial umbrella insurance is only for big companies. Nothing could be further from the truth. All businesses could benefit from the added layer of protection this insurance affords.

An expensive lawsuit involving an auto accident or serious personal injury can cost millions. Umbrella coverage protects you from massive legal fees that could easily bankrupt your company.

When a lawsuit drains the limits of your underlying policies, you can count on your umbrella coverage to step in and protect your income and assets.

Some companies take commercial umbrella insurance because their clients demand it. Certain contracts will often require that a company carries a certain amount of insurance coverage. This is meant to protect the client in case something goes wrong.

Sometimes, your existing liability policies don’t meet the client’s requirements. Taking an umbrella insurance policy can help make up for the deficit.

What Is the Cost of Commercial Umbrella Insurance?

Per month, the median cost of an umbrella insurance policy is $101. That translates to $1,212 annually.

Typically, insurance providers offer the policy in $1 million increments. As your policy limit increases, so does the cost. Aggregate limits typically range between $1 million and $15 million.

What Commercial Umbrella Insurance Does Not Cover

While commercial umbrella insurance does cover many things, there are certain claims that are exempted. Also, this policy doesn’t extend the limits of some types of policy. One example is commercial property insurance.

For instance, there’s a fire in your company and your equipment suffers significant damage. If the cost of repair and replacement of this equipment surpasses your property coverage limit, you’ll have to pay for that extra cost out of pocket.

Umbrella coverage also doesn’t extend the limits of your professional liability policy.

Business With Greater Need of Commercial Umbrella Insurance

We mentioned that every business could benefit from commercial business. But there are certain types of businesses that should prioritize this type of coverage. If you interact with customers in person in your business, this policy should often be a priority.

The liability is even higher if you have workers in your company who use dangerous equipment or heavy machinery.

If you are more at risk of claims and think that the cost of a claim might be greater than your liability limit, don’t think twice about getting commercial umbrella insurance. The same should be the case for businesses that work on other parties’ properties or allow the public to visit during hours of operation.

Getting a Commercial Umbrella Insurance Quote

Many insurance providers allow you to get an online commercial umbrella insurance quote. Compare a few insurance providers before making a decision. You're going to want to work with a reputable insurance provider who offers favorable terms.

Ensure you bring a copy of your general liability, commercial car insurance, and other liability policies. Determine the coverage for each policy, so you get an accurate quote.

Keep Your Business Protected at All Times

Running a business involves many expenses. Thus, getting a commercial umbrella policy on top of your other policies can seem expensive at first. However, once you consider the benefits of this type of coverage, you’ll discover that it far outweighs the costs.

Don’t wait until it’s too late to consider the right umbrella insurance policy for your business. Contact us today and safeguard your business immediately.


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A Breakdown of the Costs of Commercial Insurance

Are you thinking of buying commercial insurance for your business?

Before you do, you should have an idea of what you'll be spending and where your money will be going. Below, we’ve got a guide on the breakdown of the costs of commercial insurance.

In the US, there are over 30.7 million small businesses, and they make up 99.9% of all businesses. While many small businesses thrive and grow over the years, that isn’t the case for all. Others can operate correctly, but accidents, disasters, and other incidents end up affecting the business.

Therefore, it’s good to have small business insurance. However, you don’t want to buy any old commercial insurance without knowing what you’re paying for. Keep reading to read the breakdown of the typical commercial insurance.

What’s In a Commercial Insurance Plan?

Before we get to the breakdown, let’s first discuss the coverage you can expect in a business insurance plan. Most insurance plans cover the typical risks that a business faces. Those risks include:

  • Data breaches
  • Property damage
  • Lawsuits
  • Vehicle protection
  • Reputational damage
  • Business interruption
  • Environmental and pollution liability losses
  • Liability for injuries or damage, and
  • Workers’ compensation claims

Let’s start with worker’s compensation insurance. In most states, this is a mandatory step to opening and operating a business.

This coverage pays for any medical care for employees who become injured at work. It will also replace partial wages of employees injured at work. If an employee dies because of injuries from work, it compensates the employee’s family.

One more type of commercial insurance is property insurance. It ensures your property in case of disasters, fires, or theft occurs.

It often covers furniture, technology, inventory, and all other things used for business. You can even include personal property if it’s in the building when the disaster occurred.

Commercial auto insurance is a typical pick for companies that use a vehicle for work. It covers the employee driving the vehicles in case of accidents up to the policy’s limit. Commercial insurance may also include terrorism insurance, key employee insurance, and umbrella policies.

What Are the Factors that Affect the Cost of Commercial Insurance Plans?

Other than your coverage needs, many other things make your insurance plan cost more or less. Some factors are things you can’t control. Those factors include the risks that your business faces.

For example, you have a business in construction. There are a lot of safety risks in construction, especially to the workers and passers-by. Make sure your employees and all who enter the site follow strict safety procedures.

The daily tasks and work involved can also affect the cost of your commercial insurance plan. Do your employees have a lot of extra time to check their emails? Or are they busy and occupied the moment they time in for work?

Here is a list of other factors that can influence the cost of your commercial insurance plans:

  • Business classification (sole proprietorship, corporation, or other)
  • Goods or services of your business
  • Salary totals
  • Employee numbers or operation size
  • The business' gear and their values
  • Sales reports
  • Location of the business

Insurance companies will likely include inquiries about these things when they interview you. They will also check all these things as they calculate the cost of your insurance plan.

Why Do Commercial Insurance Costs Vary?

You pay more for your commercial insurance if there are higher risks involved. Such risk factors cover not only physical risks to the employees and customers. You also have to consider the financial risks involved in the business.

Risk is one key factor that can increase or decrease the cost of your commercial insurance plan. The location is another thing that you want to look at. Businesses in populated areas face higher commercial insurance costs.

The reason is that cities or areas with large populations have a higher likelihood of crime. Some areas face only the risk of vandalism. The state where you open your business may ask for certain requirements, which can affect the total cost of your insurance.

You can also say the same for businesses that have more public visibility. People are more likely to target popular businesses rather than lesser-known ones. Expect to pay more for insurance as your business’ reputation grows.

The coverage that you take for the business will also affect the insurance cost. If you add more coverage to your policy, you’ll pay more for the insurance plan. If you want to lower your premiums, pick higher deductibles for your insurance.

How Much Does Commercial Insurance Cost?

The commercial insurance pricing will depend on the business risks involved. To help you get an idea of the true cost of commercial insurance, here are some examples.

Five hundred dollars per year is the smallest that a business owner may pay for commercial insurance. The average business pays under $1000 per year for insurance, while the average cost of insurance for most businesses is $740.

You may have a small business in the IT industry, in which you have a remote home office. Expect that amount for coverage on data breach and professional liability insurances. If you have employees, you must pay the workers’ compensation insurance, too.

A plumbing company with 20-30 employees may pay $3000 to $5000 per year. The money will go to cover the equipment needed and the risks involved.

The best way to learn how much your commercial insurance plan costs is to talk to the insurance company. You can also ask for the breakdown of costs if you’re paying for multiple coverages.

Get the Right Commercial Insurance Plan for Your Business Today

We hope you learned something useful in our guide on the cost of commercial insurance. Now, you know why the cost of commercial insurance is different for every business or company. You also know why you need to buy insurance for your business.

Do you want to learn more about commercial insurance and how it works? Are you looking for the right insurance company to ensure your small business?

Contact us today and tell us more about your business. We’ll help you get the proper coverage for your business insurance needs.


freight truck stopped at gated entrance

What Does Commercial Auto Insurance Cover?

Is your company in need of coverage for your fleet? Do you have interest in opening up a new policy for your startup business, but are unsure of what to look for? If so, then you need to learn all that you can about commercial auto insurance.

Doing so can help you ensure that you're lining yourself up with the right provider.

See below for an in-depth guide on what commercial auto insurance contains and how to make sure you're getting all the coverage that you need.

1. Medical Expenses

Imagine the horror of finding out that one of your employees was involved in a car accident while they were driving your commercial vehicle.

Not only are they having to endure (and recover from) some serious injuries, they also have costly medical bills to come with it. Medical bills that they aren't financially able to cover.

With proper commercial auto insurance in place, all of your employee's medical expenses and bills will be covered. If the injury was associated with the car accident, their medical bills are taken care of and it doesn't matter who was at fault for the accident.

Without proper commercial auto insurance for your fleet, you or your employee will be left on the hook for their medical expenses.

Commercial auto insurance shows your entire staff that you've got their best interests in mind. It isn't just a way to cover the repairs for your vehicles, it's to protect the financial future of your company and, more importantly, your staff's personal lives.

With their medical expenses covered, you'll be able to retain your top-tier talent and help them focus on recovery so they can get back to normalcy much faster.

2. Liability for the Accident

Unfortunately, with the fast pace of today's business environment, people aren't always exercising proper driving techniques to avoid car accidents.

Time is of the essence. You and your staff are hustling and bustling to meet deadlines for your customers, making sure you're where you need to be at the exact time you're supposed to be there.

That's when car accidents occur. In fact, car accidents are so common that there are more than 6 million car accidents every year in the United States. Unfortunately, that stat tells you you should prepare for at least one car accident among your commercial fleet in the coming years.

If you or your staff member were at fault for the crash, then it could cost you dearly. Fortunately, with commercial auto insurance coverage, all the damages for the accident are covered.

Liability coverage helps pay for the repair costs of any other vehicle that was involved in the accident. It also helps cover the legal expenses if you or your company is sued for the other driver's injuries that they sustained.

3. Uninsured Motorists

If you or one of your staff members are involved in an accident because of the negligence of another, their auto insurance should cover all the damages and injuries associated with it. But what if they aren't properly insured?

What if they intentionally (or accidentally) allow their policy to fold and they aren't properly insured at the time of the accident? No provider will take them on as a client with that going on.

While the other party might have a hard time, your commercial auto coverage will provide the financial coverage you desperately need. We ensure that our clients never have to take a loss for a car wreck they weren't responsible for, no matter what the circumstances might be.

Don't let your company's future hang in the balance because of the carelessness of another person. Make sure you line yourself up with a reputable commercial auto insurance provider today.

4. Physical Damage

So far, we've covered all the different ways that your commercial auto policy can give you coverage on damages and costs related to auto accidents. But what if your car sustains damage from something outside of a car accident?

Believe it or not, several incidents can cause damage, even when your car isn't in motion. This could be things such as:

  • Weather-related events
  • Collapsed trees
  • Vandalism

You shouldn't be forced to cover the damage of an unforeseen situation. Lesser car insurance providers might try to catch you on a technicality and not cover the expenses. We want to make sure your company never endures such a situation.

If your company fleet is the victim of theft, we'll be there. If your car has been vandalized by someone during the night, we've got you covered.

Do you have questions related to the physical damage that is covered in our policies? If so, call us. We're happy to elaborate for you!

Invest in a Trusted Commercial Auto Insurance Provider Today

Now that you have seen all the different ways that commercial auto insurance can save your company's financial situation, be sure to use it to your advantage.

Be sure to read this article for more information on the types of businesses that need commercial vehicle insurance for their company.

For more inquiries, please be sure to reach out via our contact us page and we will be happy to assist you further.