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Why Business Owners Need Workers’ Compensation Insurance

workers compensation insurance companies

For businesses of all sizes, a good workers’ compensation insurance can go a long way. In a nutshell, here’s why workers compensation insurance companies recommend business owners to get this type of insurance.

Why Workers’ Compensation Insurance Is a Must

For most companies that employ people, getting worker’s compensation insurance is a legal requirement. Having insurance for your employees does not only protect your employees, it also protects you as the business owner. Accidents can happen and employees can get injured. Worker’s comp pays for employees’ expenses that arise from such incidents, whether it be missed wages, medical expenses or rehabilitation expenses. It also pays a death benefit to the beneficiary of an employee who died on the job. Should an employee make you responsible for his or her injury and decide to sue you, workers’ compensation insurance pays for your legal fees and expenses associated with a lawsuit. Without workers’ comp, you would be responsible to cover all these horrendous fees, which, without a doubt, could hurt your business and you personally.

What Workers’ Compensation Insurance Can Do for You

Workers’ comp is one of the must-have insurance products that workers compensation insurance companies recommend as an addition to a good liability insurance. A comprehensive workers’ compensation insurance provides peace of mind and allows you to focus on your day-to-day business operations.


Marina Insurance Must Cover Water and Land Needs

insurance for California marinas

Not all the business conducted at marinas is on the water. Many times, these water-based facilities have expanded their base to include significant land-based operations, which can range from shopping centers to hotels and more. That makes finding the right insurance for California marinas a complex, but not impossible task.

Along with docks and bulkheads, marinas typically have dry-stack facilities, as well as forklift machines and other, related equipment. Several buildings may also be part of the marina, some located on land, others over the water. Whether they are managed by the marina itself or by third-party tenants, these buildings can include restaurants, retail shops and even on-site hotels. If the marina is a private one, with slips owned by individual boaters, the marina may be more manager than owner. Regardless, the inclusion of multiple individual owners, like what you see in a condominium building, is another facet of the business that must be accounted for in an insurance package.

With such a variety of land and water exposures, marinas and yacht clubs need the help of an experienced maritime insurance provider who can think outside the box. The right provider is one who can work aside from the typical liability and commercial insurance forms and tailor insurance for California marinas to meet their unique needs.


When You Invest in HOA Insurance, You Invest in Your Community

HOA insurance companies

As a board director or officer of your neighborhood’s homeowners’ association, you have a duty to your community residents to protect them, their homes and surrounding properties from disaster. Unfortunately, it can be difficult to predict disaster, as it comes in many forms. Natural disasters, vandalism, theft, fraud and other crime are all very real risks that communities face, and because HOAs assume the role of protector and moderator, they also assume liability should something happen. To protect your association and its members, look into HOA insurance companies near you.

The needs of every community is different, and what may be a very real exposure for your neighborhood may not even be an issue for the neighborhood a block down the road. For this reason, you should work with an HOA insurance company that is willing to assess your neighborhood’s risks and devise a policy that includes coverages you need and does away with those that you don’t.

That said, there are some coverage options that you shouldn’t forego, as every HOA can benefit from them. Directors and Officers insurance can protect board members from claims brought against them personally. Crime insurance can protect the association against losses of property, money and security as well as from fraud and employee dishonesty. Cyber liability insurance can protect the association from assuming liability in the event of a cyber breach, which are becoming increasingly common. The right HOA insurance companies can help you evaluate your risks and come up with a policy that best protects the association, your community and its residents.


Preserve Your Firm’s Future With the Right Liability Protection

employee liability

Though most claims against staffing agencies stem from dissatisfied employers, a good number of them stem from the hires themselves. Staffing agencies are in the unique situation of being the employer of record but not having any real control of what the employee does, where he or she works, how much they get paid or anything else once the contracts are signed. These agencies rely on their clients to treat employees well, and while most do, there are a few employers who don’t, which is why it is always a good idea for staffing agencies to invest in employee liability insurance.

Whether an employee files a claim of sexual harassment or gender discrimination, or he or she claims wrongful termination or unfair pay, your agency can be held just as liable as the employer itself. Not only are you responsible for providing clients with honest, hardworking and reliable candidates, but also, you are responsible for placing candidates in environments in which they feel safe and comfortable. If you fail either the client or the candidate, you have essentially failed in your job, and you can be held liable for that failure.

Though you may do the best you can to make the best possible matches, mistakes will happen. When they do, make sure that you’re covered with a comprehensive employee liability insurance policy.


Preserve Your Firm’s Future With the Right Liability Protection

employee liability insurance

Though most claims against staffing agencies stem from dissatisfied employers, a good number of them stem from the hires themselves. Staffing agencies are in the unique situation of being the employer of record but not having any real control of what the employee does, where he or she works, how much they get paid or anything else once the contracts are signed. These agencies rely on their clients to treat employees well, and while most do, there are a few employers who don’t, which is why it is always a good idea for staffing agencies to invest in employee liability insurance.

Whether an employee files a claim of sexual harassment or gender discrimination, or he or she claims wrongful termination or unfair pay, your agency can be held just as liable as the employer itself. Not only are you responsible for providing clients with honest, hardworking and reliable candidates, but also, you are responsible for placing candidates in environments in which they feel safe and comfortable. If you fail either the client or the candidate, you have essentially failed in your job, and you can be held liable for that failure.

Though you may do the best you can to make the best possible matches, mistakes will happen. When they do, make sure that you’re covered with a comprehensive employee liability insurance policy.


3 Things To Know About Boat Insurance

OC insurance

If you have never owned a boat before, you are in for a real treat with your first one. Not only are boat vessels of freedom, they provide excellent opportunities for family fun. Still, before you buy your first boat, you should know three things about purchasing OC insurance for your boat.

1. Your House Policy Isn’t Enough

You probably have the policy to protect your home from damage. In most cases, your homeowner’s policy will not cover damage to your boat. Talk with a skilled OC insurance agent to find the right boater’s policy for you.

2. Your Policy May Not Be Year-Round

Depending on the policy you choose to purchase, you may not have year-round coverage. Unlike a house or car policies, you usually can lay up your boat insurance for periods when you aren’t using your boat. If you plan to boat during these times, you need to be sure you have coverage.

3. You Probably Need Liability and Property Coverage

Like with your car insurance, you probably need your boat insurance to cover liability, injuries, and property. A good agent can help you find comprehensive coverage for your boating needs.

Before you purchase your new boat, you must think about all associated costs. Then, you must buy an insurance policy that protects both your boat and your financial wellbeing.


Does Your Company Create Bailment Obligations?

Bailees coverage

If you have ever used a valet service, you have probably noticed the many disclaimers printed on the back of your claim ticket. Savvy valet owners try to limit their legal obligations by disclaiming the bailment relationship. While not every bailment may be disclaimed, restrictive language helps protect the company from liability. If your business often accepts, stores or repairs customer personal property, your organization may have bailment obligations. Bailees coverage may help you protect business assets.

What Is a Bailment?

A bailment occurs where an entity takes control of another’s personal property. In the business sector, bailments often occur in the following types of companies:

  • Parking garages
  • Drycleaners
  • Mechanics
  • Jewelers

When a company accepts property, it implicitly agrees to keep it in good shape and to return it to the customer in the same condition.

How Does Damage Occur?

When trying to repair an item, your company’s technician may cause additional harm. Meanwhile, a sudden flood or fire may destroy customer property that you have stored in your warehouse. While you may be able to disclaim some legal liability, you can likely achieve greater peace of mind by purchasing bailees coverage.

For your business to succeed, you may not be able to avoid creating bailments. You can, however, probably avoid much of the legal liability that comes with running your company. A skilled agent can likely help you develop a tailored policy to mitigate potential risk.


Even Experts Need Coverage for Mistakes

E&O coverage

Professional liability insurance is also called insurance for errors and omissions and is designed to cover those who offer their expertise as a means of making a living. This coverage is not to be confused with general liability insurance, which protects businesses from the type of general accidents that can happen anywhere. These policies are separate, yet complementary to each other and expand coverage for smaller businesses and individuals.

What Does E&O Insurance Cover?

E&O coverage tackles the unique lawsuits faced by experts in a variety of fields, from doctors and lawyers to architects, engineers, IT consultants and others. For those in business for themselves, it is essential to cover claims that can be made against them for:

  • Mistakes in work
  • Unintended results
  • Services not provided
  • Negligent or careless services

To deliver expert-level services in any field, professionals must meet industry standards for their work. Failure to do so, or even the perception that they failed to do so, leaves them open to lawsuits.

Types of Professional Services Covered

E&O coverage can be applied to many different circumstances, including accounting mistakes that cost a client several thousand dollars or beauty treatments that burn a customer’s skin because the wrong ingredients were applied. More examples can include instances in which photographer damage a couple’s only wedding photos and personal trainers who promise amazing weight loss or slim and trim physiques that just don’t occur.


Potential Liability Claims

nightclub liability insurance

If you are opening up a nightclub, chances are you have already considered things like nightclub liability insurance. However, for some people, this may not be the case. Here are some potential reasons why you may want insurance to back you in the event of a liability claim.

One potential claim you may run into is that you sell alcohol to a minor by mistake. Maybe someone slipped by without being carded, or maybe they had a fake ID. Either way, this could potentially be devastating to your nightclub. For any court costs that come from it, you may be able to use insurance.

Another potential reason for liability claims is injuries as a result of a bar fight, slips and falls or anything else that could cause someone to get hurt. You may need to pay medical bills, and insurance coverage can help with this. In the event that someone tries to take you to court over the injuries, insurance may also be able to help.

There are many things that could potentially happen in your business, especially when drinking is involved. For this reason, it is important to consider nightclub liability insurance if you don’t already have it. If you are still in need of insurance, don’t delay in looking into your options and getting a provider as soon as possible.


Why Marina Insurance Is Different Than Conventional Business Coverage

marina liability insurance

Marinas share many similarities with traditional businesses. For the risks that all businesses face, marina owners typically purchase general business insurance. Still, because of the nature of their businesses, marinas experience liability that other organizations easily avoid.

Taking Care of Everyday Business

As with all companies, marinas must take care of business daily. Therefore, smart marina owners often purchase general business insurance to safeguard their organizations from potentially devastating liability. Experienced insurance providers help tailor general business insurance to meet a marina’s unique needs. Regularly, skilled agents recommend the following protection:

  • Property insurance
  • Workers’ compensation coverage
  • Directors’ and officers’ liability insurance
  • Errors and omissions coverage

Limiting Water-Related Risks

While marinas usually need conventional business insurance, owners often must purchase additional coverage to limit exposure. Namely, the Jones Act may require special insurance for anyone who works on the water. Meanwhile, marina owners typically opt for regular coverage and special events protection, such as:

  • Vessel damage
  • Personal injury
  • Regatta coverage
  • Race management
  • Member property
  • Chartering

Like all businesses, marinas must have comprehensive business insurance to protect them from both foreseeable and unforeseeable events. By adding marina liability insurance coverage to the company’s general business policy, marina owners often get the coverage they need to operate a successful, useful marina.