Honoring those… – May 2020

Our world has changed since the spread of the corona-virus (COVID-19).  Life as we once knew it does not exist, at least for now.  Instead our life and world has changed since the spread of this pandemic called “corona-virus (COVID-19).”  Since the end of March, we have been in what I like to call “lock down,” also known as “self-isolation,” and two months later here we are finally starting the phase to gradually end the lock down and slowly resume life as we once knew it.  While life is slowly resuming this does not mean we do not still have to practice social distancing or wearing our face mask.  Who would have ever thought we would be wearing face masks out in public to prevent the risk of spreading or contracting the virus – even if we don’t have the virus wearing the mask is respectful to others, even if you don’t like it.  Today, we are maintaining social distancing and wearing face masks, parents are now home school teachers, essential workers are teleworking from home – while font-line essential workers have to leave their home to go to work every day and risk their health and life as well as their family.

I like to take a moment to personally say THANK YOU to all our Healthcare Workers, Doctors, Nurses, EMT’s, Law Enforcement, Fire Fighters and Grocery Store workers for all YOU have done for us.  You are out there every day risking your health and life to save ours.  Let us not forget about our grocery store workers who are making sure the shelves are well stocked with food and supplies for us.  If you have not said “Thank You” to any of these Essential Front-line workers, would you today?  It is about making a difference and impact on a person’s life and putting a smile on both of your faces. It does not have to be a grand gesture; it can be as simple as a wave or a smile to show that you care.  During times like this it is nice to know you are appreciated.

Who would have ever thought we would be living in an era of a pandemic?  Having to raise our children or grandchildren through this is even more difficult in times like this.  If you have young children, I can only imagine how hard this is on them.  Young children do not understand why they cannot have a birthday party or play with their friends or go to school, etc.  It is not only difficult and challenging for adults, it also is for young children as well.

While it is vital for people to stay home on lock down, I have noticed how communities are coming together to help their neighbors and local businesses.  It is the act of kindness that can make a big difference during these difficult and challenging times.  One thing I have noticed is the nice gesture local Law Enforcement, Fire Departments and EMT’s are making by coming forward to help make a child’s birthday special or a day special for an elderly person.  If it is your birthday or special day, why not make a lot of noise.  The children love seeing the flashing lights and hearing the sirens, we know that children would prefer a birthday party with cake and ice cream and presents to open.

In recent years High School and College Graduates celebrate commencement with a ceremony in achieving their milestone, and afterwards a BIG celebration thrown by their parents with family and friends.  For these graduates walking across the stage is not just about a celebration, it is about the recognition of all their hard work, sacrifices that they have made and their achievements.  This year will be especially hard for many graduates for many different reasons.  Graduation ceremonies will be different or challenging due to the pandemic of COVID-19. This year is especially heartbreaking, so many missed opportunities to celebrate achievements and milestones for high school seniors. This was their last year to do all the fun stuff seniors love to do, such as senior prom, senior trip, senior week, senior awards ceremony/banquet, and graduation. Let us not forget about our College graduate, for them this is also a milestone.  It is a celebration and momentous time for them and their family, especially if they are the first in their family to attend college and graduate.  This is a difficult time for any High School Senior and College Graduate, this is the most important milestone of their life.  In honor of our High School and College graduates ‘Class of 2020,’ I would like you to know this is YOUR YEAR! How is your community coming together in celebrating high school and college graduates or graduation ceremonies?

10 Motorcycles that are expensive ‘2020’ – April 2020

Motorcycles can be as pricey as vehicles – there are some motorcycles that are priced on the low end.  Do you know what the 10 most expensive motorcycles are for 2020?

  1. Confderate FA=13 Combat Bomber – priced around $143,948
  2. Brough Superior Anniversay – priced around $103,114
  3. Bimota Tesi H2 – priced around $60.995
  4. Ducati Panigale V4 Anniversario 916 – priced around $45,130
  5. MV Augsta Brutale 1000 Serie Oro – priced around $44,328
  6. Horex VR6 Café Racer HL – priced around $43,823
  7. Harley-Davidson CVO Limited – priced around $43,422
  8. Honda GoldWing Tour DCT – $37,449
  9. Ariel Ace ‘Iron Horse’ – priced $36,213
  10. Kawasaki Ninja H2 Carbon – priced $34,767

When it comes to motorcycle type everybody has a specific style they like.                                                 Here are six main categories that are recognized:

  1. Cruiser
  2. Sport
  3. Touring
  4. Standard
  5. Dual-purpose
  6. Dirt Bike

When it comes to motorcycle insurance the question I most often hear is, why is the insurance premium so high?  Motorcycles are much riskier to drive than most vehicles or other transportation. When it comes to motorcycle insurance, insurance companies consider a multitude of factors, such as type of motorcycle, age, riding history, tickets and/or accident and claim history, coverage’s, location, and credit.

Motorcycle safety tips
  1. Always wear your helmet with a face shield and protective eye-wear.
  2. Wear suitable clothing such as gloves, jacket, long pants, and closed shoes. This will help minimize any injuries you will encounter in the event of an accident or skid.
  3. Obey traffic rules.
  4. Make sure your headlights are always on, stay out of a driver’s blind spot, signal well in advance when changing lanes or turning, and pay attention to turning vehicles. Most importantly – Ride defensively.
  5. Take a motorcycle safety course. This course is not designed for new drivers, anyone can take a refresher course to help with forgotten or neglected skills.  Completion of a Motorcycle Safety Course may lower your insurance rates.
  6. Be awake and do not drink and drive. Ride sober.

Stay safe and enjoy your ride.                               

 

Wedding Insurance – March 2020

Are you getting Married?

What is Wedding Insurance Coverage?       

Wedding insurance is special event insurance that protects a couple’s investment that are beyond their control.  Wedding insurance protects you from losses that may arise due to any unforeseen circumstance.

Various factors that may occur

  • Venues closing
  • Vendor no shows
  • Stolen gifts
  • Damaged gown
  • Extreme weather
  • Sickness or injury
  • And more

Wedding insurance policy coverage’s

Liability Insurance – Wedding liability insurance covers damages to the venue or injuries to guests.

Liquor Liability – This is optional wedding day coverage that can protect against on premises alcohol-related accidents that can result in your liability.  (Check to see if liquor liability is included or is an optional coverage in your policy.)

Cancellation or postponement coverage – Wedding Insurance cancellation coverage helps protect you from financial loss if your event needs to be canceled or postponed due to family illness, extreme weather, bride or groom being called for military deployment, or some other unexpected reason.

What Does Wedding Insurance Cover?

  • Wedding Video/Photo Coverage – Wedding insurance includes coverage for photos and videos. If your photographer or videographer doesn’t show up for the event, or does not deliver photos and videos when promised, you’re covered
  • Protection for Wedding Gifts – Provides coverage for wedding gifts (excluding cash and gift cards).
  • Special Attire and Jewelry Coverage – Covers for lost or damage dresses or attire. Special jewelry coverage includes lost or damaged wedding rings (may or may not be included in your policy. Not all policies cover jewelry coverage).
  • Coverage for Lost Deposits – Wedding Insurance protects lost deposits, such as those paid to bakers, caterers, bridal boutiques and wedding venues that go out of business.
  • Additional Wedding Expenses – Wedding Insurance can provide coverage for additional and unexpected expensed that come up, such as replacing a damaged wedding cake, spoiled food and other glitches in catering and entertainment.

Wedding insurance doesn’t cover

A wedding policy will cover about anything outside of you control that will ruin your big day.  There are some things that a wedding policy will not cover.

  1. Cold feet or change of heart with a few exceptions.
  2. A rainy day, rather than extreme weather.
  3. Deciding to switch to a different vendor, such as a caterer or florist, once you’ve already paid a deposit.

It’s a good idea to purchase your wedding insurance as soon as your start incurring expenses.  Keep in mind, there may be restriction when you may be able to purchase cancellation coverage – often no later than 15 days before the event but no sooner than two years prior.  You may be able to purchase liability coverage up to one day prior to the event.

Hopefully your wedding day goes of just as you planned but having wedding insurance provides you with security and peace of mind so you can focus on getting ready for your big day.

Replacement Cost v. Actual Cash Value – February 2020

What is the difference between Replacement Cost and Actual Cash Value?

 

When you first purchase homeowner’s insurance and/or any other type of property insurance, you may have to make a choice between replacement cost option or actual cash value option.  When it comes to understanding your homeowner’s/property insurance coverage it can be confusing.  The reason it’s confusing is a customer really doesn’t understand the difference between replacement cost and actual cash value.

Most people think their coverage limits on their Declaration Page of their insurance policy is a good indicator as to how much they will be paid at the time of a claim.  This isn’t the reality.  The coverage limits on the declaration page is the maximum you could possibly be paid, not necessarily how much money you will receive.  

What you should know so you understand how much you will get paid during a claim, and the difference between replacement cost and actual cash value coverage.

What is Replacement Cost?

 Replacement cost is what it sounds like.  It’s the cost of replacing something you own with a brand-new-version for e.g., your TV gets destroyed due to a fire, it’s the cost of buying a comparable model at the store or your couch burns to a crisp due to a house fire, it’s the cost of buying a comparable couch at the furniture store.  It is easy to estimate replacement cost.  You can look up the same brand and model online and see what it’s selling for at your favorite store.

Figuring out the replacement cost of your home and other buildings can be a little trickier.  In calculating the replacement cost it’s the cost of the materials and labor required in order to rebuild the structure.  (The value of the land beneath the building has nothing to do with replacement cost).  Some polices that include replacement cost will provide money for you and your family to stay in a hotel while your home is being rebuilt.

Don’t confuse home replacement cost with what you paid for your home when you purchase it – replacement cost is what it will cost us to rebuild your home, based upon the cost of the materials, labor and design cost. Real Estate value can vary based upon your neighborhood’s desirability, how hot or stagnant the housing market and a bunch of other big picture factors.

A home’s replacement cost is the cost of rebuilding, pure and simple.

What is Actual Cash Value?

Actual cash value means exactly what it sounds like.  It’s the depreciated value of an item of property at the time of the loss, opposed to what it would cost to replace that item with a brand-new-version.

Over time, the value of almost everything declines.  Your TV slowly goes on the fritz. That couch slowly burns up. You pay way less for thrift store stuff than brand-new stuff for a reason.

The loss of value over time (called depreciation) can be estimated using math.  Using a few different methods, economists and insurance adjusters figure out an item’s actual cash value based on its replacement value, its age and its “salvage value,” or the amount an item could theoretically be sold for at the end of its useful life.

The older something is, the less it’s worth – most of the time.

Certain rare items experience appreciation, or gained value, over time.  This is especially true for art, precious metals and gems, firearms, fine jewelry and some antiques.

These items will need special treatment in your insurance policy to make sure their covered for their full value,

How Much Will You Be Paid for Your Claim?

To determine how much you will be paid on your insurance claim depends on three key factors.

  1. How accurately can you describe, document and show the lost value of your property?  Have a home inventory of items (electronics, tools etc., write down serial and model numbers), keep copies of your receipts.  The more documentation and proof you provide, the less likely you are to be at the mercy of the insurance company’s estimates.
  2. There are different types of property insurance policies, e.g., homeowner’s, condo, renters, commercial building, etc.… What type of insurance policy do you have?  Depending on the type of policy you have will dictate the risks covered.  The policy will cite exclusions and special limits for certain items.  Special limits are not standard across all insurance companies.  Companies that specialize in high-value homes might have higher special limits in the areas of jewelry, fine arts or even collectibles.
  3. The basis of claims settlement depends on your policy, how much you can expect from an insurance claim. Will the insurance company pay “actual cash value” or “replacement cost?” People who insure for actual cash value will never receive enough money in a claim to replace the items they lost.  You can find the basis of claims settlement in your policy in small print.  Homeowners are often disappointed in how they are paid when they don’t understand the meaning of insurance claim terms.

 

Annual Insurance Review – January 2020

Auto | Home | Business                   

Despite what you may think, an insurance review doesn’t have to be as involved or a time-consuming endeavor. A conversation or a visit with your agent can help make sure you’re knowledgeable about your insurance coverage and comfortable that your limits are meeting your current needs.

When the bill arrives in the mail to pay your insurance premiums, this should prompt a reaction to review your policy. Insurance policies can be changed to accommodate changes in your life or circumstances. Many consumers don’t understand what coverage they have and could be uninsured or paying more than they need in insurance premium. Reviewing your insurance premiums and coverage should be done annually.  Failure to do this could result in paying higher premium or a headache down the road.

Home

When your homeowner’s insurance is up for renewal, it’s important to review each piece. Even if you haven’t made any significant developments or improvements to your home, it is possible that other changes have occurred that your insurance agent should know about. Changes in the real estate market may affect the current policy or changes in lifestyle, living situation, or income are all factors to consider when reviewing your homeowner’s policy.  

Auto

Auto insurance policies should be reviewed to ensure you have adequate coverage and protection for all drivers. If you have a new driver on your policy, it may be a good time to increase coverage. In addition to adding or changing the vehicles on your policy, it is important to review your driving habits. Are you driving more compared to last year or less?  Will you have any upcoming road trips that may require additional coverage?  If the value of your car has dipped below $2,500 it may be a good time to remove collision coverage and have liability only. If you take the time to review these aspects each year, it will help save you money and provide you with peace of mind.

Business

When small business owners are focused on the day-to-day activity of a growing business, it can be hard to realize all the small changes occurring that may affect insurance rates.  Perhaps you have purchased new equipment, additional vehicles, or developed new products or services. On the other hand, if your business is struggling and has lost money, you may want to lower your policy limit in order to accommodate a reduced value. This will also reduce your premium and save you a little money.

Snowmobile Safety Tips – December 2019

Snowmobile Safety Tips 

It’s that time of year and winter has arrived, and the snow has begun fall.  If you own a snowmobile than you are ready to start riding and enjoying your time on the snowmobile trails.  While snowmobiling can be exhilarating experience and fun during the winter season, it can also be a very dangerous if proper safety precautions are not taken.  To protect you and keep you safe here are some important snowmobile safety tips.

  1. Take a snowmobile safety course.  Have you taken your safety course?  While many states require a snowmobile certificate each state has its own set of rules, laws and regulations.  A snowmobile safety course will instruct you on how to ride safely and responsibly, as well as teach you the rules.  It is especially essential and helpful for those first-time drivers or riders.  You will learn riding techniques that will help you operate the snowmobile and avoid any hazards.
  1. Check the weather forecast and the trail conditions.  Before heading out on the trail it’s always a good idea to check the weather forecast and trail conditions.  You do not want to put yourself or someone else in danger if the trail is frozen, the wind chill is too low, or a blizzard with white out conditions is in the forecast.  If this is the case, then you should plan your ride for another day. By checking the weather, it helps you select the proper clothing for the day.
  1. Wear proper cloths and protective gear.  Staying warm and dry during your ride is essential to staying safe and making your ride more enjoyable.  Wear a snowmobile suit, which consists of a jacket and insulated bibs. Make sure you are dressed in layers under your snowmobile suit.  Make sure you stay away from cotton in case it gets wet, if that happens it will freeze and that will not be good.  Choose polyester blends to hold moisture away from your body.  If you do not have a full-face helmet, make sure you wear goggles or a face shield, socks (NO cotton), waterproof gloves, winter hat, face-mask and winter boots.  Always wear a DOT-approved helmet, not only to keep you warm but to protect your head from injury. Make sure children have a helmet that properly fits them.
  1. Inspect your snowmobile before your ride.  Before you hit the trail make sure your snowmobile is running properly.  Make sure you have your owner’s manual handy on your ride for extra safety.  It’s important to follow the recommended service schedule to keep it maintained and running smoothly.  Make sure you check fuel and oil levels, battery, brakes, drive belt, skis, throttle, handlebars, headlights and taillights before your ride.  Before you take off on your snowmobile, make sure you allow your snowmobile time to run for at least a minute to warm up.
  1. Bring a buddy.  Riding with a friend or in a group is fun, but also safer, especially on trails you have never taken before.  It’s always a good idea to have someone with you in case your snowmobile breaks down or you get into an accident.  Make sure you tell a family member or a friend your plans and route for your ride, just in case you get stranded.  FYI, cell phones don’t always work in remote areas.
  1. Carry a first-aid kit, emergency kit and repair kit.  It’s essential to carry a basic first-aid kit in snowmobile in case of injury.  Your kit should include disinfecting wipes, bandages, hand sanitizer, gauze, adhesive tape and Band-Aids.  In addition, carry an emergency kit with waterproof matches, flashlight, compass, map, blanket, water, snacks and a knife.  A repair kit should include duct tape, tools, spare belt, tow rope, spark plugs and pry bar.
  1. Stay Alert.  It’s important to be observant and watch for obstacles in your path, such as rocks, fallen trees, barbed wire fences, ditches, open water, other snowmobiles, snowbanks, animals, hikers and skiers.
  1. Avoid frozen rivers.  It’s impossible to gauge the thickness of ice.  Ice can easily crack and give way under your snowmobile.
  1. Do not speed.  By driving at a moderate speed, it will help you to react quickly to a situation on the trail and will help you to avoid an accident.  Many trails have posted speed limits to follow.
  1. Stay on the trail.  Make sure you stay on the marked trails as they have been groomed for you and are less likely to have any dangerous hazards.  Going off the trail could result in accidents as you are treading in unfamiliar territory, and you may also get lost and not be able to find your way back.  Many public trails run close to private property.  Unless you have received permission from the landowner, stay on the marked trail.  Failure to comply may result in a trail being closed to the public in the future.  Be a responsible rider by following the posted signs and trail markers.
  1. Driver should be the age of 16 or older.  The American Academy of Pediatrics strongly recommends that children under the age of 16 do not operate a snowmobile.  The reason is due to the lack of skills needed to safely operate the vehicle and due to their stature can be easily injured.
  1. Children under the age of six should never ride as a passenger according to the American Academy of Pediatrics.  The snowmobile can ride rough and it takes a strong person to hold on tight, especially for long periods of time.  Children under the age of six lack this strength.
  1. Do not overload your snowmobile.  Make sure you review your manufacturer’s guide for the approved number of passengers and also the amount of weight it may be able to carry.  Exceeding these maximums either from an additional passenger or heavy gear can increase your chances of an accident or injury.
  1. Never drink and drive.

It’s the law.  Just like driving a vehicle, operating a snowmobile while under the influence can lead to delayed response and you could cause an accident and injury to yourself or someone else.

  1. Do not pull people on anything behind your snowmobile.  Snowmobiles were not designed to pull sleds, skiers or saucers and it’s unsafe.

We hope these snowmobile safety tips lead to a fun and safe riding experience. If you’re looking for snowmobile insurance or shopping for new snowmobile insurance give us a call, we would be happy to quote your snowmobile insurance.  We specialize in snowmobile insurance coverage tailored to meet your unique needs.     

 

 

 

 

 

Common Commercial Property Insurance Exclusions – November 2019

Commercial property insurance – what’s covered, what’s not covered

Commercial property insurance is meant to help guard the physical assets of your business from specific perils, such as fire, explosions, storms, burst pipes, vandalism, and theft. It protects your building and business personal property, along with fences, signs, and other exterior fixtures. It is a core coverage of your business insurance policy.

If you have commercial property insurance coverage for your business, then you know you are covered for several risks. Did you know that there are common damages that are excluded from your coverage under commercial property insurance policies?

Commercial Automobile Accidents 

Commercial property insurance does not cover your company’s vehicles that are used in your daily business.  For your company’s vehicles to be covered you need commercial auto insurance.  The purpose of commercial auto insurance is to protect you by making sure you are covered for both damage to your vehicles and bodily injury or property damage resulting from an accident caused by a driver.

Flood or Earthquake Damage 

Flood and earthquake coverage are excluded from your business insurance policy, as it is with homeowner’s insurance.  To protect your company from these risks you need commercial flood insurance or earthquake insurance for your business.  If your company is in a flood zone or any prone area for earthquakes, our experienced agent will help you find the best price with the coverage you need.

Equipment Breakdown Coverage 

Commercial property insurance protects against damage caused by a covered peril, such as fire, theft, vandalism or explosion. It does not cover damage that has incurred by equipment breakdown or malfunction.  Unless equipment breakdown insurance is included in your business insurance package, the cost of repair or replacement will come out of your company’s pocket.

Off-Premises Power Failure 

A utility failure, such as an electrical outage or a disruption in water service, could force your business to close for a day or even longer.  This type of loss is not covered under your commercial property insurance.  You may be able to add off-premises coverage caused by a covered peril resulting in a loss of power as an endorsement to your policy. 

Excluded Property Coverage 

There are certain types of property that are excluded under a commercial property insurance, including:

  • Money, security, accounts, bills
  • Land, piers, docks, and wharves
  • Vehicles, aircraft, and watercraft (with certain exceptions)
  • Animals other than stock
  • Crops, hay, or grain located outside
  • Cost of excavation, grading, or back-filling
  • Building foundations
  • Walkways, roads, and other paved surfaces
  • Electronic data
  • Cost of restoring information on valuable records

Meet with an Agent

One of your responsibilities as a business owner is to ensure you are adequately protected with the right business insurance coverage.  Commercial property insurance does not cover everything, it is possible to purchase other coverage to help fill in those gaps.  Our experienced insurance agent would be happy to meet with you to review your business insurance policy.  We will advise you on the types of insurance coverage you need for your company to be adequately protected and to help you find the right coverage to provide you peace of mind, and affordability.

 

Home Fire Safety Tips – October 2019

Did you know that cooling and heating are the leading causes of home fires and fire injuries?  Did you know that November and December are the peak months for fire-related deaths?  With the holidays right around the corner and the weather getting colder, now is the perfect time to review and practice fire safety.

Safety Tips When Cooking:

  • Be alert; if you are sleepy or have consumed alcohol, don’t use the oven or stove-top.
  • Stay in the kitchen while you are frying, grilling, boiling or broiling food.
  • When simmering, baking or roasting, check the food regularly, remain in the kitchen while cooking and use a timer.
  • Keep anything that can catch fire away from your stove-top.

Heating is the second leading cause of death. Heating safety tips:

  • Keep all flammables, like paper, clothing, bedding, drapes or rugs, at least 3 feet from a space heater, stove or fireplace.
  • Never leave portable heaters and fireplaces unattended; turn off heaters and make sure fireplace embers are extinguished before leaving the room.
  • If you must use a space heater, place it on a level, nonflammable surface, like ceramic tile, not on a rug or carpet.
  • Keep children and pets away from space heaters.
  • When buying a space heater, look for models that shut off automatically if the heater falls over.

Other top causes of fire include smoking, electrical problems and candles. To minimize risks:

  • Institute a “no smoking” policy in the house.
  • Check all cords and replace any that are frayed or have bare wires.
  • Switch to flame-less candles.
  • Keep matches and lighters high and out of children’s reach in a locked cabinet.

Working Smoke Alarms are a Must

About three out of five deaths happen in homes with no smoke alarms or working smoke alarms. Smoke alarms are a key part of a home fire escape plan providing early warning reducing your risk of dying in a fire.

  • Install smoke alarms on every level of your home, inside bedrooms and outside sleeping areas on the ceiling or high on the wall.
  • Keep smoke alarms away from the kitchen, at least 10 feet from the stove, to reduce false alarms.
  • Use special alarms with strobe lights and bed shakers for people who are hard of hearing or deaf.
  • Test smoke alarms monthly.

Create and Practice a Fire Escape Plan

In the event of a fire, remember every second counts, so you and your family must always be prepared. Escape plans help you get out of your home quickly. Twice a year you should practice a home fire escape plan with your family.

Tips to consider when preparing this plan include:

  • Find two ways to get out of each room in the event the primary way is blocked by fire or smoke.
  • A secondary route might be a window onto a neighboring roof or a collapsible ladder for escape from upper story windows.
  • Make sure that windows are not stuck, screens can be taken out quickly, and that security bars can be properly opened.
  • Practice feeling your way out of the house in the dark or with your eyes closed.
  • Teach children not to hide from firefighters. 

Towing & Labor – September 2019

 

When purchasing you’re auto insurance you may not be sure what coverage you need.  One coverage you should not be left without is towing and labor.  Did you know that towing and labor is not costly and is worth having?

What is towing and labor?

Towing and Labor is also called “emergency road service.”  It’s meant to help you when your broken down or in a bind.  Towing and Labor is provided by all auto insurance companies.

Did you know some insurance companies automatically include this coverage in your policy premium?  While other insurance companies allow you to add it on your policy.

How can towing and labor help me?

Let’s say you’re cruising down a country back road — no worries in the world, wind blowing through your hair, singing your favorite tune — suddenly, your car sputters, chugs, and slowly… just … stops. Uh-oh.  You turn on your hazard lights and pull over to the side of the road. Then you remember (with a sigh of relief) that you’d added towing and labor coverage to your car insurance policy for just-in-case moments like these. You may not know what’s wrong with your car, however you can have peace of mind knowing what’s included in your towing and labor coverage.

There are certain occurrences that are typically covered up to the limits on your policy, regardless of which company you choose; such as:

  • Towing (when it’s not related to an accident)
  • Locksmith services if you get locked out
  • Tire changes and jump starts
  • Mechanical labor at the breakdown site

Of course, not all roadside service plans are created equally, so no matter where you buy your coverage, it’s important to ask your licensed agent and/or read the fine print when purchasing your policy.

What Coverage Do You Need for Restaurants and Food Service Business? August 2019

If you own a restaurant or have thought about opening a restaurant, as with any business it takes allot of time and energy, not to mention blood, sweat, and tears, and allot of perseverance in getting it up and running. There are some unique risks involved when it comes to insuring a restaurant. Workers can or will get injured, patrons could get sick, cooling systems may break down, and the list goes on. It’s important to make sure you are adequately protected with business insurance in the event something major happens.  Setbacks due to fire, theft or other unexpected life events may be hard to recover from, especially before you’re turning a profit.

The greatest chance of success in the food-service business is to make sure your restaurant can handle a financial loss due to things beyond your control.  Here are some tips.

Basic Coverage’s

Business Owner’s Policy provides insurance for your property, liability and loss of income due to a loss on your business.

  1. Property: Provides coverage for your building (owned or rented, additions or additions in progress and outdoor fixtures). Covers your business personal property for damage or loss, kitchen equipment and inventory, including perishable foods. Commercial property insurance provides reimbursement if a fire damages your kitchen, even if a fire started in another building.  It provides coverage for vandalism, theft, and certain types of weather-related damage, such as burst pipes and hail damage.   
  1. Liability:Protects against lawsuits related to a customer’s injury or damage to a customer’s property that happened at your place of business. General liability insurance can help pay for medical expenses, pay for repair or replacement of customer’s property if damaged and help pay for court costs, attorney’s fees, and other legal expense if a customer holds you liable.  General liability provides coverage against advertising injuries, including defamation (libel and slander) and accusations of copyright infringement.  
  1. Business interruption: In the event of a loss this coverage will help make up for lost income and pay other related expenses to help you reopen. It covers loss of income due to a fire or other catastrophe that disrupts the operation of your business. It can also include extra expense of operating out of a temporary location.

Other Coverage’s

  1. Liquor liability:If your bar or restaurant serves alcohol you may be required to purchased liquor liability insurance, it can be added to a business owners’ policy.  This coverage protects your business in the event an intoxicated customer injures another customer’s property or causing injury to someone due to consuming too much alcohol at your business.  
  1. Commercial auto insurance:Can cover expenses related to accidents involving a business-owned vehicle. It provides coverage for vehicle theft and vandalism.  If your restaurant provides delivery service on a regular basis, make sure you have a commercial auto policy in place.
  1. Worker’s Compensation:This policy is required in most states for business with one or more employees.  It provides coverage for medical expense and partial lost wages if an employee is injured on the job.
  1. Food spoilage and contamination: Whether it’s due to a malfunctioning refrigerator or a power outage, damage to your stored food can be a big financial loss to your business.  This type of coverage will help you recover from the damage.  It provides coverage to help reimburse the cost of replacing spoiled frozen or refrigerated food, or shelved perishables.  Food contaminated by a supplier or improper handling may also need to be thrown away.  Food contamination coverage helps with replacement costs, along with associated cost such as cleaning or advertising to restore your reputation.  Food spoilage and contamination coverage can both be added to commercial property insurance on your BOP.

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