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Making the Right Choice for Life Insurance

NCSF Insurance 

Everyone that has big responsibilities, like a spouse or children, can certainly see the benefits of protection designed to last your entire lifetime. One of the best things that you can do in this life is to provide financial protection for your family upon your death. Before you buy any policy, ask a financial advisor if you’re better off buying whole life insurance, rather than some other type of permanent insurance, or a term life policy.

Whole life insurance might be a wise choice, depending on your current situation, but term life insurance is quite sufficient for many families. Consult NCSF Insurance because their agents can offer expert advice and they can also recommend financial products they feel will service your needs.

Whole life versus term insurance

Whole life insurance is a permanent policy that offers you guaranteed protection for your loved ones over your lifetime. Participating whole life policies are eligible to earn dividends that can increase your death benefit and the cash value of the policy. There are also other options you could choose, including the use of your dividends to help pay premiums.

A whole life policy can serve as a source of emergency funds for you if something unexpected happens. You may be able to take out a loan against the policy because a portion of each of your premium payments is put into a savings component of the policy called the “cash value.” With whole life insurance, unlike term, you earn guaranteed cash value, and this can be very useful when you need it the most.

The rules on how and when you can do this will vary from company to company. Remember that there may be certain guidelines to follow in order that you don’t inadvertently reduce the death benefit or create an unnecessary tax burden.

The cost of a whole life policy from NCSF Insurance depends on several factors, such as your age, health and life expectancy, any of which may affect the premiums you pay for your policy. When it comes to paying premiums, you’ll typically be offered the option to pay monthly, quarterly or twice a year. Be aware that paying premiums more frequently than once per year means that you may incur additional fees. Speak to your agent for more specific information.

 


Protect Against Errors and Omissions Before It’s Too Late

New Jersey errors and omissions liability

A general liability policy doesn’t cover beyond property damage, personal injury, advertising injury or bodily injury. They rarely cover economic damages and monetary damages aren’t covered at all. Protect your business and yourself with a New Jersey errors and omissions liability insurance policy.

Types of Claims Covered

While opening communication with your staff and contractors is a great first step to preventing errors, mistakes still happen. Having a New Jersey errors and omissions liability policy in place before a lawsuit happens better protects you and your company from allegations. Typical covered claims include:

  • Copyright infringement
  • Claims and damages
  • Temporary staff and independent contractors
  • Personal injury
  • Past services
  • Defense costs
  • Alleged or actual negligence

Difference in Protection Now vs Later

A lawsuit can happen any time you or your business makes a transaction with another person. The client merely has to allege there has been a wrong committed against them to sue. While most policies have retroactive start dates, waiting until there’s a lawsuit could mean failure of coverage to start. However, protecting yourself ahead of time allows you to assess your risk and goals before there’s a problem. Don’t wait until you are on the hook to pay hundreds of thousands of dollars in legal fees and awarded damages before protecting you and your business with a New Jersey errors and omissions liability policy.

 


Home Ownership Opportunities

high net worth home insurance

No matter what the value is of one’s home, homeowner’s insurance is important for everyone to protect their assets. For some individuals, high net worth home insurance is something that should be considered. The higher the net worth is of one’s home, the more important it is to protect it.

Coverage in Various Situations

It is impossible to tell just what the future holds, but it is possible to protect yourself in worst-case scenarios. By obtaining high net worth home insurance, you can protect your assets. Additionally, you can protect your home itself, getting coverage for repair costs in the event that your home becomes damaged in some sort of disaster.

Peace of Mind

By obtaining a comprehensive high net worth home insurance policy, you also receive something invaluable: peace of mind. You can rest assured knowing your assets and home are protected so you and your family can worry about more important things. No matter what happens, you can protect the livelihood of the people most important to you.

Although it is important for all homeowners to think about obtaining a comprehensive homeowner’s insurance policy, it is especially important for individuals who possess a home with a high net worth. Cover your assets and gain peace of mind with a detailed policy.


Insuring Against the Storm

does homeowners insurance cover hurricane damage

Living along the coast means dealing with hurricanes, which bring extensive damage from hail, wind and flooding. Though these storms are a common occurrence, not every owner has the appropriate coverage. A common assumption is that the standard policy is enough, but does homeowners insurance cover hurricane damage?

Flood Damage

Water damage may occur when your pipes burst, but it is considered flood damage when natural phenomena cause the destruction. Helping clients understand that their regular policy will not cover this type of hurricane wreckage illuminates the need for additional coverage.

Separate Policy

Does homeowners insurance cover hurricane damage at all? The following casualties are often covered by standard policies:

  • Wind damage from falling trees and blown off shingles
  • Harm from fire and vandalism that result from a hurricane

Though some issues are covered, it is often flooding that causes the most damage and flood insurance is a separate policy purchased independently.

Making the Decision

The best time to purchase extra insurance is long before hurricanes pose a threat. Clients should understand that if a storm is looming, there are timeframes in which supplemental policies cannot be taken out. Concurrently, have clients review existing coverage to make sure it is ample enough to make a difference.

There may be no more important question to address with your clients than, “does homeowners insurance cover hurricane damage?” Being proactive, with a full understanding of the effects of weather and the elements will give your clients the protection they need when they need it most.


Cyber Theft Remains a Top Concern

cyber liability coverage in Orlando

As news stories constantly report, cyber theft and cyber liability are an ongoing issue that won’t be going away any time soon. Unfortunately, data breaches have been happening with regularity to businesses big and small. You do not need to be Delta, Lord & Taylor, or Kmart to have your information stolen and used for malicious purposes.

The costs of a cyber intrusion can total millions, including costs to hire a lawyer, a public relations firm to try and restore your reputation, along with a forensics team to discover how the breach occurred and stop further data breaches from happening. Add to this the cost to notify those affected and you’ve got quite an obstacle to overcome. These are all valid reasons why you need cyber liability coverage in Orlando for any and all of your cyber concerns.

Since most businesses conduct their operations using computers there is a great risk of becoming the victim of a cyber breach. Everyday, businesses are targeted for data breaches and incidences of computer hacking. The villains are becoming quite sophisticated and either sell the information they obtain, or use Ransomware as a negotiating tool. Still, many small businesses still believe that data breaches are unlikely, even though they get targeted just as often by cyber thieves.

What constitutes a data breach?

A data breach is when an unauthorized party steals your company’s sensitive, confidential, digital information. Any time that an outside party is able to access customer, employee, or trade records and information, this often results in dire consequences for that company.

Anyone who owns a business should use password protection and data encryption, as well as restrict employee access to sensitive information. Also, use firewalls to control access and lock out hackers and ensure that remote access to your company’s network is secure. Using these simple procedures can help to assist in curbing your chances of experiencing a cyber-security breach.

By implementing a few basic security measures your odds of having to defend against a data breach can be significantly lowered. Protecting your business with cyber liability coverage in Orlando helps to cover concerns such as copyright & trademark infringement, unauthorized access, introduction of a virus, and other activities associated with cyber crimes.


Get Coverage for All Types of Building Plans

insurance for construction projects

Undertaking major construction projects is a rewarding endeavor, but it comes with immense risk and liability. Although the end goal of a construction project is a singular entity, the process of getting there involves a lot of time, people, planning, and money. It is extremely important to project your company’s financial standing before taking on construction projects by getting professional liability insurance. Despite popular belief, getting insurance for construction projects can be one of the easiest things your construction firm does to be successful and reputable. Professional liability insurance is often overlooked in the construction industry, but the time has come for this oversight to change.

Professional liability insurance is one of the best coverages you can get for your company. This type of insurance will protect your company from potential losses stemming from design flaws, accidents, construction delays, negligence, and property damages. Having the proper coverage before you start a construction project will ensure the process can go on without the company having to stress out about potential setbacks and out-of-pocket costs. Architects and contractors already have enough on their plates to worry about, so make their lives a bit easier by acquiring professional liability insurance for construction projects, whether the project is large, small, or somewhere in between.


Limit Your Cyber-Attack Liability

cyber risk

If your company has a website, it’s at risk of being the victim of a cyber-attack. These types of assaults are becoming more common with every passing day, and smart companies regularly review their vulnerability to such attacks. Knowing your business’ cyber risk is a great first step, but that won’t protect your company from the legal liability you face after the attack has happened. Too many companies find out too late that they lacked the proper coverage to fend off the lawsuits resulting from cyber-attacks. Give your business the protection it needs by reviewing your insurance policies today.

The damage from a cyber-attack can be far-reaching and long-lasting, but with the right insurance package, your company can weather the storm. While every company is different, the fall-out from a cyber-attack is similar across industries. Some of the most common expenses facing your company after a cyber-assault include the cost of monitoring your customer’s credit, expenses from the interruption of your business and the cost of notifying your employees and customers about the attack.

Without insurance protection, your company would have to pay these costs out-of-pocket. Guard your business against these costs and any potential legal actions resulting from the cyber-attack by making sure you have the right cyber risk insurance in place today.


Insurance for Medical Staffing Businesses

insurance producer agreement

As a business owner whose specialty is medical staffing, one of your most prudent moves could be sitting down with your insurer to review and sign an insurance producer agreement. In doing so, your company is covered against losses stemming from accidents, injuries, property damage and liability claims.

Because medical staffing firms place LPNs, medical technicians, physical therapists, nurses and other medical professionals into a variety of settings, their exposure is significant. Broad and comprehensive insurance policies from specialty insurers cover all risks associated with the temporary or permanent placement of employees who deliver care to the sick or injured. Without business insurance, the expenses associated with a single lawsuit could be catastrophic. An employee or client injury at a place of service, an incident of negligence or malpractice or an event causing property damage could incur expenses of a magnitude that a business of any size would find difficult or impossible to cover using its own financial resources. Policies are available that not only protect the personal and business assets of owners and directors of medical staffing firms, but also cover expenses that could arise from any type of regulatory audit.

The value of an insurance producer agreement may well be incalculable when it comes to the peace of mind it offers. The security of insurance protection allows businesses to focus on their mission and not its risks.


How To Find Flood Insurance You Can Afford

affordable flood insurance

Many homeowners understand how important it can be to insure their house and property, and yet many face policy limits that are too low or have gaps in their coverage. Flood insurance can be a tricky topic across the board. Some might assume it is part of their policy when it isn’t, yet others might decide to forego it altogether. The truth of the matter is that whether you are in a zone of high flood risk or not, you could still be susceptible to damage. If you live in a coastal area, you might already understand the importance of flood insurance, but be unenthused about the price point. Luckily, there are options for affordable flood insurance.

In order to find the best prices, don’t be afraid to get multiple quotes. Also consider the company’s reputation and experience. Those with experience in flood insurance can help you better assess the coverage amounts you may need as well as offer products like buy down deductibles, which can lower your out of pocket expenses. They can also help you understand the finer points of available policies so you’re not caught off guard after an emergency hits. By understanding your exposure and doing your research, you can better consult professionals for affordable flood insurance.


Protect Your Business With Comprehensive Coverage

business owner policy

A business owner policy, or BOP, is a great way to make sure your business is covered in the event of damage or an accident. It is a comprehensive way to provide your business with all the insurance it needs, no matter the specific industry and niche.

For example, you may design your BOP to contain coverage for specific assets that are part of the fundamental operations of your business. If your business uses special equipment or if money and securities are part of the business, those kinds of items can be a part of your BOP.

Business interruption insurance is generally included in a BOP, as well. This kind of coverage makes it possible to continue to make the type of payments a business regularly incurs, such as payroll or utilities, while business is necessarily halted while repairs are being made to any business property. This type of coverage is part of the larger property insurance coverage, which covers the physical structures of the business and the contents inside them.

Even your liability insurance can be designed to fit your business’s exact needs so that in the case of an accident, you’ll be able to make whatever payments are necessary. A business owner policy is a good choice for your business’s insurance needs.