Courtesy of iii.org Natural disasters can be devastating to businesses. While damage caused by some types of natural events—such as lightning or wind—will usually be covered by commercial property insurance, you need a special policy if you want protection from flood damage. This Q&A will help you understand this type of coverage and determine whether your business needs it. Frequently asked questions about flood insurance Q. Does my commercial property insurance include flood coverage? A. No. Damage from flooding, including flooding generated by hurricane-generated storm surge, typically is not covered under a standard commercial policy, including a Commercial Package Policy (CPP) or a Business Owners Policy (BOP). Flood insurance is available from the federal government’s National Flood Insurance Program (NFIP). Q. What does flood insurance cover? A.Flood insurance covers damage to your building and contents caused by flood. This includes losses resulting from water …
Auto Insurance Premiums & You
Courtesy of http://www.iii.org/article/what-determines-price-my-auto-insurance-policy The average yearly auto insurance premium is around $800, but there is wide variation around this average. Many factors can affect your premium, and they all help determine how likely you are to have an accident. Perhaps surprisingly, many of them do a better job than just your driving record. Not all companies use all of these factors, and some might use factors not listed here. Your premium may depend on, in no particular order: Your driving record. The better your record, the lower your premium. If you have had accidents or serious traffic violations, it is likely you will pay more than if you have a clean driving record. You may also pay more if you are a new driver and have not been insured for a number of years. How much you use your car. The more miles you drive, the more chance for accidents. If you drive your car for work, or drive it a long distance to work, you will pay …
Flood Insurance for Your Business
Courtesy of iii.org Natural disasters can be devastating to businesses. While damage caused by some types of natural events—such as lightning or wind—will usually be covered by commercial property insurance, you need a special policy if you want protection from flood damage. This Q&A will help you understand this type of coverage and determine whether your business needs it. Frequently asked questions about flood insurance Q. Does my commercial property insurance include flood coverage? A. No. Damage from flooding, including flooding generated by hurricane-generated storm surge, typically is not covered under a standard commercial policy, including a Commercial Package Policy (CPP) or a Business Owners Policy (BOP). Flood insurance is available from the federal government’s National Flood Insurance Program (NFIP). Q. What does flood insurance cover? A. Flood insurance covers damage to your building and contents caused by flood. This includes losses resulting from water …