What You Should Know About Force Placed Insurance

Homeowners with existing mortgages can benefit from understanding forced placed insurance and how it affects them. This insurance coverage is often called lender placed coverage or collateral protection. Since it protects lenders from borrowers whose property insurance lapses, here are some essential things, you need to know about this insurance option.

Insufficient Coverage?

If a property’s coverage expires or is deemed insufficient, force placed insurance allows the lender to protect their financial interests within the property. Additionally, lenders may also require forced place insurance on dwellings at a high risk of flooding if the insurance coverage doesn’t meet the legal minimum.

Rising Foreclosures

Lender placed coverage is becoming more relevant because of rising foreclosures and increasing lapsed property coverage. This insurance option also allows lenders to replace coverage and protect mortgage interest immediately.

Letter Cycle

During the “letter cycle,” lenders can formally notify homeowners of insufficient coverage and request evidence of current insurance coverage. After borrowers supply the requested documentation or fail to produce it, force placed coverage can be backdated to fit the last insured date.

When both borrowers and lenders understand collateral protection, they can ensure property value and protect financial assets. Additionally, when coverage is insufficient, borrowers can benefit from understanding why lender placed insurance is required.

Top Reasons to Offer Employee Benefits

In the last few years, there have been significant changes in the job market. Now to retain quality employees, you need to offer a great salary and employee benefits package. It may not be readily apparent, but employee benefits help save you time and money.

Helps to Retain Employees

When you hire and train an employee, you invest in them. When that employee leaves, you lose on that investment. A good benefits package can help keep your employees happy and therefore keep them working for your company.

Attracts High-Quality Employees

Great benefits attract great employees. It gives you the chance to be choosey when reviewing candidates because you will have more applicants. It also attracts well-trained workers to your company. They will pass up a company that does not have the perks or benefits in favor of a comprehensive benefits package with the same or less compensation.

Healthier, Happier Employees

With benefits like health insurance and paid time off, you will have healthier employees. Healthier employees are happier and more productive. A healthy, happy employee works harder, does more, and is more likely, to go above and beyond for their employer. They are usually over 20% more productive than unhappy employees.

You don’t have to break the bank to offer top benefits to your employees. These benefits pay for themselves in employee retention and increased employee productivity.

The True Cost of Owning a Boat

Owning a boat is the dream of many water-loving adventurers. Purchasing a boat should be an informed decision. While you many doubt your Loe for the water, there are many more things to consider and weigh before your purchase, such as the real cost of boat ownership.

Slip Fees or Storage

You don’t get to leave your boat in the water for free. Keeping your boat at a marina will cost you a monthly slip fee and these can vary greatly by the marina. It could be as much as a car payment. 

Unless you have a large boat pad, storing the boat on your property probably isn’t an option either. The marina offers dry storage, which might be more affordable than a slip fee, but is still going to be a monthly payment. 

Insurance

Just as you need insurance on an automobile, you need coverage for your boat as well. You’ll want to protect it on and off the water, but you’ll also want to protect yourself from liability, as accidents can happen on the water, too. 

Other Expenses

Other expenses that you’ll incur when you own a boat include

  • maintenance and repair costs
  • gasoline
  • a trailer to tow the boat

Talk to other boat owners and see what other things you might need to consider. Deciding whether or not boat ownership is right for you should be based on gathering the facts. 

The Value of In-Home Physical Therapy

A full spectrum of excellent home care for an individual with an acute injury or a chronic medical condition may include in-home physical therapy. There are several significant benefits of incorporating physical therapy into home health care services.

Facilitate Consistent PT

Home health care PT can help people maintain consistency with their PT regimens. When most people go to facilities for PT, they’re assigned exercises to perform at home. Having a regular care provider monitor all facets of PT including daily exercises that aren’t part of an intensive physical therapy session can ensure that they’re performed correctly and consistently.

Create Easy Access to Ongoing PT

When people have a health condition or age-related mobility restriction, it may be difficult to get to and from a PT facility. When PT can take place in someone’s home, it eliminates a considerable barrier to getting PT treatment on a regular basis.

Provide a Vital Service Covered by Insurance

Many health insurance programs including Medicare will entitle a plan to in-home PT. They may be more likely to take advantage of this important benefit when they’re able to do so concurrently with other medical care in their homes.

In-home PT from a licensed care provider can have several key advantages. Ultimately, it can help individuals better manage underlying medical conditions and enjoy a better quality of life.

Your Insurance Company Will Benefit From SEO Strategies

You may have heard of the term SEO when it comes to marketing your insurance business, but do you know what it means? An acronym for search engine optimization, SEO involves a series of practices and efforts made across networks and platforms to help people find your company online. Your company will benefit from solid SEO strategies. Here is how to get started.

Customize Your Strategies

When it comes to SEO campaigns, one size does not fit all. Your insurance business needs decisions tailored to your industry and niche. Devising practical yet successful SEO strategies might seem too difficult, but specialized insurance SEO companies take the weight off your shoulders. These experts develop campaigns customized to your business and audience. Your digital content will rank high in searches and encourage click-through and conversions.

Connect With Customers

When SEO strategies are in place, stay in touch with customers. Today’s consumers expect contact with businesses. Fortunately, technological advancements make it easy to get personal. Platforms to use include:

  • Social media—Facebook, Twitter, Instagram, and YouTube are all great ways to connect with consumers.
  • Email—Regular updates and newsletters keep people in the loop.
  • Blogs—Well-written blogs can establish you as an industry expert.

Well-executed online strategies give your insurance business a big boost. Good SEO campaigns help you grow your company in ways you may not have thought possible. Good SEO makes good business sense.

3 Reasons Why Music Venue Owners Need Insurance

From small bar stages to massive concert arenas, music venues provide the energetic experience of live music performances to enthusiasts. Unfortunately, these rowdy events can also result in multiple hazards and dangerous situations for your patrons, staff and the overall business. Property owners like yourself can consider embracing the advantages provided by specialized music venue insurance.

1. Business Protection

People at a crowded event such as a concert or a music performance are at risk of injury. If anyone is seriously harmed in your venue or even outside, you have liability and can face lawsuits that can severely impact your business. Music venue insurance coverage covers these fees and protects your business from these financial problems.

2. Property Repair and Replacement

Sometimes concert-goers can get carried away and greatly damage your equipment and property. These items can become difficult to repair or even replace. A comprehensive insurance plan is helpful in covering the costs of fixing and changing items like seats, tables, fixtures and more.

3. Incident Preparation

Depending on the number of people, size of the venue and other factors, there is a variety of incidents that can harm participants and staff, as well as create expenses for your venue. RMS Hospitality Group lists multiple coverage areas that include situations like assault and battery, liquor liability and products.

An insurance program that extends beyond general liability brings multiple benefits to your business. Licensed brokers can help you with questions about these coverage plans.

Insure Your Non-Profit With the Right Coverage

While non-profit entities have a lot of risk overlap with for-profit businesses, they don’t have all the same needs. In fact, they have quite a different set of them in a lot of ways. You don’t typically have to worry about protections for inventory or delivered goods unless your non-profit actually makes things or runs a shop as a fundraiser, and that’s not as common as people would think. You do often have to cover employees, both with workers compensation and with liability coverage that protects you financially in the event that your organization or its representatives are also liable for the injury. You also need liability protection for the public if they visit, which is common for businesses too. But what about your volunteers?

Insurance for Volunteer Staff

Your volunteer base is usually not covered by the same protection as your workers, but they are also on site more often than the general public, and they perform roles the public doesn’t perform for your organization. That means the exposure you have to liability is different for them than for the public, so your insurance should reflect it. Moody Insurance understands this well enough to put together an excellent primer on the difference between insuring employees and volunteers, so check it out as you figure out the rest of your non-profit’s risk management strategy, and then consider your options for soliciting quotes to get set up with the insurance for non-profits you need.

3 Qualities of Top-Notch Professionals

When you are looking for an insurance policy, it can sometimes feel like car shopping. The salesmen are pushy and trying to get you to buy something you don’t need. However, a quality agent, like those who work for Republic Insurance, can make the biggest difference when trying to narrow down your liabilities and coverage needs. According to programbusiness.com/, a top-notch professional has three important qualities.

  1. Knowledgeability. Your insurance search needs to start with an agent who knows what you need. Don’t go to a company specializing in homeownership if you need commercial business coverage. Use referrals to find an agent with knowledge of your area of coverage and move to the next qualification.
  2. Accessibility. If an agent is too busy to meet with you or answer your questions on the phone, it might not be a good fit. Insurance is a complex business, and you won’t know what you are doing or what you need without an attentive agent helping you navigate the policies.
  3. Boundaries. Your agent should respect your needs and set boundaries on the salesmanship. You shouldn’t be pressured into purchasing excess coverage where liability does not exist. You are to be treated like a valued client and not just a commission check.

Start your search with confidence through these three qualities. You will locate the relationship you need with the insurance provider and its agents.

Get the Maximum Protection With CPP Insurance

There’s nothing worse than missing coverage for an unfortunate event that affects your business. Many insurance programs handle the bare minimum, while others offer coverage for scenarios that don’t align with your business model. The best results call for a policy that works with your organization. Thanks to CPP insurance plans, you’ll have backup when you need it most.

Coverage That Counts

For smaller and midsized businesses, a Commercial Package Policy makes sense thanks to their flexibility and customization. After choosing the coverage options that are right for your company, a CPP combines them into one interconnected plan. This has significant advantages over Business Owner Policies since BOPs can incorporate other options that aren’t relevant to every field.

According to https://www.dsayles.com, there are a variety of options to choose from, letting you design a custom policy that works with you. Possible coverage areas include:

  • General liability
  • Property insurance
  • Auto insurance
  • Equipment breakdown
  • Crime
  • Business income

Incorporating all forms of coverage that might affect your business will ensure you’re protected even in the most unlikely of circumstances. There’s no reason to pay for coverage you will never use or to settle for policies that won’t protect you in emergencies. Choosing CPP insurance plans may make the difference between a terrible catastrophe to your bottom line and a slight setback towards a promising future.

Reducing Your Operating Liability When Working to Help Others

Reducing Your Operating Liability When Working to Help Others

 

Even though the idea of running a non-profit is associated with a service or product that helps humanity, the corporation itself isn’t immune to problems of litigation and unhappy consumers. The experts at David Sayles Insurance warn about three potential areas where some may claim loss or harm, and non-profit lawsuit battle ensues.

 

Three Potential Claims

 

There are three primary claims that will be made against non-profit organizations, and these include employment law claims, contract disputes, and personal injury claims. These claim areas aren’t novel to just non-profits, but usually, they are ignored when pursuing a liability insurance policy. Major corporations and businesses that operate under a different structure will carry additional coverage to make sure their finances are supported in the event of a claim.

 

The Best Defense

 

The best way to defend your organization from a devastating lawsuit is proactive in addressing the areas of risk. Not only should your company purchase the right insurance policy, but you should follow strong business practices devised according to a risk management plan. Keep well-documented paperwork for contracts, donations, employee records, and other areas of importance. Establish a safe working environment and ensure that the activities you sponsor are well-covered by insurance, and only work with vendors who also carry strong insurance coverage. Reducing your areas of liability can help you avoid costly legal battles.