Courtesy of iii.org Business interruption insurance can be as vital to your survival as a business as fire insurance. Most people would never consider opening a business without buying insurance to cover damage due to fire and windstorms. But too many small business owners fail to think about how they would manage if a fire or other disaster damaged their business premises so that they were temporarily unusable. Business interruption coverage is not sold separately. It is added to a property insurance policy or included in a package policy. A business that has to close down completely while the premises are being repaired may lose out to competitors. A quick resumption of business after a disaster is essential. Business interruption insurance compensates you for lost income if your company has to vacate the premises due to disaster-related damage that is covered under your property insurance policy, such as a fire. Business interruption insurance covers the revenue you would …
Insurance News
Protecting Your College Student from On-Campus Losses
Courtesy of iii.org It's best to consult your insurance professional for the details of your family's specific coverage and where you might need additional protections, but here are some general guidelines: Students who live in a dorm are covered under their parents' standard homeowners insurance policies – That is, their possessions are protected by "off premise" coverage. However, some homeowners policies may limit this amount of insurance, so make sure you understand your own policy. Students who live off campus are likely not covered by their parents’ homeowners policy – Your insurance professional can tell you whether your homeowners or renters policy extends to off-campus living situations. If it does not, to protect student belongings, those living off campus may need to purchase their own renters insurance policy. Computers and smartphones may carry stand-alone insurance – If you're getting these items new, at the time of purchase you may be offered …
Insurance and Business Vehicles
Courtesy of iii.org Whether you own or lease a single business car or an entire fleet of commercial vehicles, you’ll need to purchase commercial auto insurance. Your insurance professional can help you weigh your risks and evaluate coverage options. But even with insurance in place, you’ll want to take steps to prevent accidents and protect your employees and vehicles. Your business can reduce the chance of an accident by establishing and enforcing the following practices and policies. Hard-and-fast driving rules When it comes to the safety of employees and the protection of your vehicles, you should set certain firm driving rules that must be followed at all times, including: Mandatory seat belt use - Nearly every state has a seat belt law. Seat belt use helps prevent deaths and limit the severity of injuries in vehicle accidents. There is no reasonable excuse for not using a seat belt. Zero tolerance for intoxicants - Even one alcoholic beverage can impair a driver’s …