Renee Darata

One Agent – All Your Insurance Needs

Archive for 'General Liability'

Choosing a Business for a Home Repair

January 6th, 2010. Published under General Liability, Homeowners Insurance, Liability Insurance, Proof of Insurance. No Comments.

It’s a new year and you decided to remodel your kitchen, or replace your deck.  You’ve made some phone calls and are trying to decide who to hire for the job.

First- Do they have General Liability Insurance?
          What about Work Comp?
 
If their employee gets hurt on your premises and their employer didn’t provide work comp, they may try and file a claim against your  homeowners insurance.
 
What if they damaged your property when they installed your tile?  Broke a water pipe under the floor, or spilled grout on your carpet?
 
Their business liability insurance would pay for the damages to your property.
 
Always ask for proof of insurance when hiring a business to do a home repair.
 
Contact Renee, your  Small Business Specialist, with questions-
 

Does a home based business need a small business insurance policy?

December 9th, 2009. Published under Business, General Liability, Home based business, Liability Insurance, Small Business Owner, blogs. No Comments.

Most people do not understand the difference between personal insurance and business insurance.   A homeowners policy would not generally cover home-based business losses.  If you have a business with inventory, you are especially at risk for an uninsured loss.  A home based business should have a policy covering  business property, professional liability, personal injury, loss of business data, crime and theft..

A small business owner who has a home based business needs to consult with a insurance agent to determine their insurance needs.

RENEE DARATA

When Catastrophe Strikes, Will Your Business Insurance Be Enough?

November 18th, 2009. Published under Business, General Liability, Liability Insurance, Liabilty Insurance, Small Business Owner, blogs. No Comments.

There are many coverages on a business policy.  Here we will take a look at a few of them:

Business Income-reimbursement for lost income if you can’t operate your business due to a covered loss.

Example: a 4 alarm fire rips through your office building wiping out your office.  You have no physical office to see “clients”, no files, etc.  While you are restoring your business, business income expense would reimburse you for your loss of income.

Tenant Improvements and Betterments-these are the alterations you make to the space you occupy.  They need to be insured if you wnat your store/office to look the same after the fire (or other event).  The Owner/Landlord does not usually insure the improvements.

Business Personal Property-supplies, inventory, office furniture,etc.  Many business owners never update their policy after they begin their business and are woefully underinsured.

Completed Products and Operations Liability- this applies to businesses such as :

Auto Repair or Contractors

You bring your vehicle in for an oil change and after you leave the shop the vehicle begins to smoke and breaks down.  The vehicle is towed to a repair shop where it is discovered that the oil was not replaced during the oil change.  The repair shops liability coverage will cover the damages to your vehicle.

The plumber installs a new dishwasher and 2 weeks later you discover there is water leaking and your hardwood floor is ruined.  Upon inspection  it is discovered that a water line was installed improperly.  A claim would be filed against the plumber’s insurance policy for damages.

The small business owner needs to make sure they have enough coverage for a large loss.