29 June 2020
Get your office Covid-19 ready with acrylic sneeze shield and room partition.
10 October 2019
Renting out your Home? Find out what your mortgage company will need listed on your property’s insurance.
Mortgages require different insurance coverage for owners who rent their property. A typical homeowner policy (HO3 or HO5) policy is not designed for a home that is rented to others. Mortgage lenders mandate owners of investment property to procure landlord or dwelling and fire policy.
Mortgage lenders want evidence that their borrower has enough coverage and show there is protection to the property owner for any loss of rent that was a result of a covered claim. The lender may want the borrower to have reasonable liability insurance coverage as well.
We strongly advised to require your tenant to obtain a renter (HO4) policy. This policy offers protection for the lessee's furniture, clothing, appliances, electronics and other personal property. This policy also has loss of use and liability coverage that can help the tenant out.
30 September 2019
Being a small business owner puts you in control of your destiny, but there are major costs that go along with being the boss. With licences, office rent, and staff payroll to deal with already, some aspiring entrepreneurs shrug off the idea of purchasing business insurance in the start-up phase. Why worry about a “what-if” scenario when you have more tangible expenses to deal with, right? But hiccups on the job happen all the time, whether it’s a grease fire wrecking the kitchen of your restaurant, or a cyber-attack stealing sensitive company data. And when you’re the owner, you’re the one left holding the bag when things inevitably go wrong. Put simply, protecting your business with an insurance plan outweighs the costs of any disaster.
It’s time to demystify the headache of getting insurance and make sure you’re living the dream for years to come. Here are some reasons why small business owners should have a coverage plan in place.
Beyond the immediate costs of repairs or replacements, you also need to make sure water damage, fire or theft doesn’t derail your company’s day-to-day activity. Since every second you’re out of business is a financial setback, a business interruption coverage plan can help shoulder the load of operating expenses like rent and staff wages, while also covering the cost of profits lost. If you’ve suffered extreme property damage, interruption coverage can also assist with the relocation costs as your official workplace undergoes repairs.
Commercial property insurance provides protection for your workplace, from the building itself to the contents inside it. This means you’re safeguarded from damage at the hands of disasters like fire, or water damage resulting from a burst pipe. In the case of a break-in, property insurance can likewise help take the sting out of necessary building repairs and security upgrades, and can help with the cost of replacing stolen equipment or goods.
Property theft is an obvious concern for businesses. What many don’t consider is that an enterprise’s online presence can be just as vulnerable to thieves as their office space. A sneaky cyber attack could uncover confidential information, potentially putting the finances and personal data of your clients––and your company––at risk. Privacy Breach coverage can help get back in business sooner by recovering remediation expenses, business interruption loss and legal expenses.
24 September 2019
Accidental Death & Dismemberment (AD&D) Insurance helps pay a lump sum in the event of a covered accident. Specifically, these covered accidents are ones that could not be foreseen and are fatal or dismembering. Deaths that come due to prior medical conditions are not covered under this accidental death and dismemberment policy. hy Employees Need Accidental Death & Dismemberment Insurance
Unlike Workers’ Compensation, which covers only work-related accidents, AD&D insurance applies wherever covered accidents happen, such as at home or on the road. Along with life, disability and critical illness benefits, AD&D insurance can help round out a comprehensive benefits package. Access to a full range of protection solutions can help attract and retain top employees.
Accidental Death & Dismemberment insurance policies (AD&D) provide benefits for covered accidents that result in fatality, paralysis, the loss of a limb, eyesight, hearing, speech and more. An AD&D plan may include coverage for employees only or employees and dependents and typically provides 24-hour coverage no matter where a covered accident occurs, whether at work, home or away for:
AD&D applies in the event of a covered injury, paralysis or death resulting from a covered accident, There are plenty of plan options available.
Benefits are payable for losses that occur within 365 days of the covered accident.
Plans are available on an employer-paid, voluntary and standalone basis.
A variety of options are available to choose from, including high coverage limits and no medical underwriting necessary.
In addition to the standard AD&D plan, there are enhanced and premium plan designs and services that can be customized to best suit the specific needs of each company. The following optional benefits are also available with AD&D Insurance:
TriState Business Insurance makes it easy for brokers and employers to find the right coverage. Connect with us today.
17 September 2019
Not all insurance agents are the same! Choosing the right one can make a big difference – in price, service, and value.
With other agencies, you get one company that sells one brand of insurance. With an independent insurance agency like TriState Business Insurance you get choices.
Why? Because independent insurance agencies, like TriState Business Insurance, represent a number of different insurance companies, and can compare coverage and prices to find the best possible value for your individual circumstances. As independent agents, we are members of the community, and we’re committed to doing business face-to-face and being your advocate in times of need.
Serving Virginia, Maryland, and DC, here are a few reasons why TriState Business Insurance should be your first and last top when looking for insurance.
There is a difference. To find out how our independent insurance agency can help you find the right insurance coverage, please contact Tristate Business Insurance today.
10 September 2019
As a business owner, you need the same kinds of insurance coverages for the car you use in your business as you do for a car used for personal travel -- liability, collision and comprehensive, medical payments (known as personal injury protection in some states) and coverage for uninsured motorists. In fact, many business people use the same vehicle for both business and pleasure. If the vehicle is owned by the business, make sure the name of the business appears on the policy as the "principal insured" rather than your name. This will avoid possible confusion in the event that you need to file a claim or a claim is filed against you.
Whether you need to buy a business auto insurance policy will depend on the kind of driving you do. A good insurance agent will ask you many details about how you use vehicles in your business, who will be driving them and whether employees, if you have them, are likely to be driving their own cars for your business.
While the major coverages are the same, a business auto policy differs from a personal auto policy in many technical respects. Ask Lallis & Higgins Insurance to explain all the differences and options.
If you have a personal umbrella liability policy, there's generally an exclusion for business-related liability. Make sure you have sufficient auto liability coverage. Contact TriState Business Insurance for more information.
30 June 2019
When it comes to protecting your business, don't overlook the importance of possessing Commercial Auto Insurance coverage. If you operate a vehicle or vehicles in any capacity as a part of your business, you need to have this type of insurance plan in place. Why should you invest in it? What makes your vehicle a company car? There are a few key things to keep in mind.
If you are on the clock when using your vehicle, you likely need Commercial Auto Insurance. However, there are other scenarios in which you may be using your car for both personal and business use — in which case, it may be difficult to know if it's truly a company car. Keep the following in mind.
Another indication of your vehicle being a company car is whether or not you can take a tax deduction for the miles you drive on it. If you are able to do this, it is likely a good idea to get Commercial Auto Insurance.
Commercial Auto Coverage is a key component of business insurance. Like any other type of insurance coverage, you have for your company, it minimizes financial risk associated with your company in cases of an accident or other covered incident. For example, if you drive your vehicle from one appointment to the next and you are involved in an accident, you might instantly think to use a personal insurance policy to cover the costs. However, because you were working, the other driver could sue your business for the damages that occurred, if you are found to be at fault. This makes it a much higher level of liability risk.
If you operate your vehicle for your business, it's critical for you to invest in Commercial Auto Insurance. This way you will have the ability to protect business assets from not only the risks associated with accidents and liability, but also from other forms of property damage. Secure a policy that meets your needs. Call TriState Business Insurance today!
24 June 2019
If you're a beer enthusiast or self-proclaimed wino, opening up a bar or pub can be a satisfying career. But it's not as simple as stocking a bunch of bottles and opening your doors for business. You have to go through the right channels to obtain a business license, secure alcohol suppliers, decide on a décor theme and hire a skilled staff of bartenders and waiters. All of this can add up to one whopping investment, so you'll need the right coverage to protect your finances. Luckily, your independent insurance agent can help you build a customized bar and tavern insurance policy to protect your Virginia, Maryland, or DC establishment.
Though you'll have to talk to your agent for exact specifics, let's take a look at some of the generalized coverage options that you may wish to consider when building your policy.
Ready to talk through all this and more? We’ve got you covered. Your independent insurance agents here at TriState will provide you the unbiased consult that won’t be provided by insurance agents working directly for insurance companies. Give us a call!
31 May 2019
Selling used cars can be a rewarding and profitable business, but (like most businesses) it is not without risk. Between maintaining an expensive inventory that is subject to the weather and the liabilities of conducting test drives with customers, it's easy to see why small business insurance protection for your car dealership is so important.
Specialized used car dealership insurance policies are designed to protect dealerships, both large and small, and the vehicles on the lot. Some of the available coverage options include the following.
There are a few other coverage items to look out for that, depending on your specific needs, can also create gaps in coverage. These include Drive Other Car Liability, Dealer Drive Away, etc.
Now, you've checked your coverage once, then twice and all seems to be good. You're covered, right? Well maybe. Be sure and read the endorsements that are on your policy as well. A lot can be discovered and some of it can be downright scary. Did you know there's one that excludes any claim or loss that has to do with repairs you conducted on one of your vehicles? Now if you're like most dealerships, you usually repair one or more items on the vehicles you purchase for sale. These would include tires, brakes, oil and transmission fluids, etc. Under this endorsement, if any of those were to be the cause of an accident, you would not be covered.
There's a lot to know when insuring a dealership correctly which is why it would be prudent to work with one that specializes in them. Trust you independent insurance agents here at TriState Business Insurance to help you sort it all out!
24 May 2019
Every business owner is susceptible to crime of various types, but there are two major categories of business risk crime: internal and external crime.
You and your business should carefully consider (and protect against) these various sorts of crime that can crush you and your family:
When it comes to the insurance you've purchased, are you covered in case one of these crimes were to happen to you? Well, it depends. While burglary of some items is usually covered with a good property policy it usually excludes money, securities, checks, etc.
If you have a small business insurance policy with a standard insurer, you most likely have some coverage with options to include more. With most other policies you'll need to add on additional coverages.
Check your policy and if you're not sure, contact your trusted independent insurance agent (like us here at TriState Business Insurance serving all of VA MD and DC) to discuss your business and which ones on the list that you are clearly covered for. We are a great source of knowledge and education because we see industry wide trends and can provide options to mitigate a future loss (aka. prevent pain). We can actually help you make a more educated decision.
Make sure you're protected. Call TriState Business Insurance today!