What is the Self-Insured Retention in My Company’s Commercial Umbrella Insurance?
Understanding the terms in a commercial umbrella insurance policy (or any insurance policy) is a fundamental step toward fully understanding what protections the policy affords. As you read through your Vermont company’s commercial umbrella policy, “self-insured retention” is one term you may come across. Here’s an explanation of what this is and how it impacts the protections a policy provides.
How Can My Financial Firm Improve Its Cyber Security?
As cyber threats continue to grow, developing a robust cyber security system is becoming more and more important. Financial firms, in particular, need to consider potential threats and take actions to protect against those threats. For, the financial sector consistently ranks among the most-targeted sectors that cyber criminals try to exploit. If you run a financial firm, here are some practical ways to improve cyber security at your firm.
Should My Commercial Property Insurance Have Replacement Cost or Actual Cash Value Coverage?
When comparing commercial property insurance policies, you’ll find that almost all policies include “business personal property” coverage. You’ll also likely notice that the type of business personal property coverage policies offer differs. Some provide “replacement cost” coverage and others have “actual cash value” (ACV) coverage. Here’s a look at the differences between these two types of coverages -- and which one is better for your Vermont business.
What Happens If My Apartment Was Destroyed and I Didn’t Have Renters Insurance?
- Jon Shea
- May 17, 2018 5:48:48 PM
- Renters Insurance
According to the Insurance Information Institute, just 37 percent of renters have renters insurance. That leaves a large majority, 63 percent, of people who rent without protection from potential disasters. If you don’t have a renters policy, here’s a look at what might happen if your Vermont apartment is ever destroyed.
Does My Motorcycle Insurance Cover Custom Work and Aftermarket Parts?
- Jon Shea
- Apr 26, 2018 11:06:03 AM
- Motorcycle Insurance
Many motorcycle owners in Vermont trick out their bike with accessories, aftermarket parts and custom work. They may install parts themselves, or they might hire someone to do work that makes their bike truly unique. If you’ve had aftermarket parts put on your bike or custom work done to it, you’ll want to make sure these modifications are covered by your motorcycle insurance policy.
Does My Business Need More Commercial Auto Insurance With a Fleet of Vehicles?
- Jon Shea
- Mar 12, 2018 7:21:04 PM
- Commercial Auto Insurance
When purchasing, upgrading or expanding a fleet of vehicles, a business’ commercial auto insurance needs change. If you run a Vermont business that’s recently invested in or is about to purchase a fleet of vehicles, here are some changes you may want to make to your business’ commercial auto policy.
How Can Shared Workspaces in Vermont Affect Your Business Owners Policy?
Vermont professionals who use shared coworking spaces are frequently still exposed to a variety of potential risks. If you run a business in the state that uses a common office, kitchen, art studio or woodshop, here’s why you might still want to protect your business with a business owners policy.
What Would Happen If I Canceled the Homeowners Insurance on My Vermont House?
- Jon Shea
- Nov 2, 2017 9:48:07 PM
- Homeowners Insurance
Homeowners in Vermont generally aren’t required by state law to have homeowners insurance, but it’s a smart and wise move to keep a house insured. If you were to cancel the homeowners policy on your home, here’s what might happen.
Does My Vermont Car Insurance Cover Driving for a Rideshare Service?
Ridesharing has quickly become a mainstream way for people to get around. It’s also become a viable means for drivers throughout Vermont to earn extra money. Before driving for a ridesharing service, however, Vermont drivers should first check their car insurance to make sure they’ll be properly protected. In some cases, drivers might need to purchase additional coverage.
3 Reasons Vermont Business Owners Should Have General Liability Insurance
General liability insurance is a common commercial insurance that many businesses in Vermont purchase. It’s included in most business owners policies and commercial package policies, and it can be purchased as a stand-alone policy. Not all businesses, however, have this form of insurance. If you run a business that doesn’t already have general liability coverage, here are three reasons why you may want to get it.
Why Most Car Dealerships Think Surety Bonds are the Best Option
- Jon Shea
- Jul 18, 2017 6:40:08 PM
- Surety Bonds
In order to receive a dealership’s certificate of registration from Vermont’s Commissioner of Motor Vehicles, dealerships must show the state they have funds available to settle any successful claims of fraud filed against them. Even though there are several ways to prove that funds are available, many car dealerships in the state use surety bonds. Here’s why dealers usually use bonds, instead of the other options.
3 Business Interruption Insurance Policies to Save Vermont Businesses
- Jon Shea
- Jun 29, 2017 2:54:25 PM
- Business Interruption Insurance, Business Insurance, Vermont Insurance
Business interruption insurance helps businesses cover unexpected losses of income that are caused by covered incidents. As is the case with most insurances, there are several different types of business interruption coverages. Here’s a look at three available coverages that Vermont businesses, depending on the nature of their operations, may want.
5 Incidents Where Liquor Liability Insurance Can Protect Vermont Businesses
Most businesses in Vermont that sell alcohol to consumers should have liquor liability insurance. This insurance helps protect businesses from alcohol-related accidents they’re held responsible for. Here are five examples of incidents that liquor liability coverage might offer protection against. (Specific coverages vary, and depend on a particular policy’s terms and conditions.)
A Guide to Surety Bond Basics for Small Businesses in Vermont
Surety bonds are used in a variety of situations to provide businesses, governments or individuals with guarantees. The type of surety bond that’s purchased depends on what the bond is being used for. Here are four common types of surety bonds that businesses in Vermont might come across.
Do I Need Comprehensive Coverage for My Car Insurance?
When purchasing car insurance in Bradford, Vermont, drivers have several optional coverages to consider. One option coverage that many drivers select is comprehensive coverage. Here’s how to decide whether this coverage makes sense for you.
Does Contractors Insurance Cover Rented Equipment?
- Jon Shea
- Jun 1, 2017 10:04:42 AM
- New Haven, VT, Contractors Insurance, Vermont Insurance, Business Insurance
While many contractors purchase at least some of the equipment they use, there are situations when it makes sense for a contractor to rent or lease equipment instead of buying it. For instance, renting equipment can help reduce startup costs so new contractors can invest their capital towards other uses. Additionally, both new and established contractors sometimes need a specialized piece of equipment for a one-off project, and renting it is much less expensive than purchasing the equipment. Whatever a contractor's reason for renting equipment is, any contractor that rents or leases equipment should make sure their contractors insurance policy covers the rented equipment.
Does Workers Compensation Insurance Cover Traveling Employees?
- Jon Shea
- May 25, 2017 6:05:35 PM
- Workers Compensation Insurance, Vermont Insurance, Business Insurance
Most businesses that are legally required to have workers compensation insurance can choose any policy that meets Vermont’s requirement. Businesses that have workers who travel to other states, however, need a policy that extends coverage to the states in which the company’s employees travel. If you have a business in the area but send employees to other states, here’s how to find a workers compensation policy that will protect your employees when they’re outside Vermont.
Why to Check Your Condo Insurance for Loss Assessments Protection
Condominium owners generally aren’t held personally liable for accidents that happen in their building’s common areas. They can, however, end up being financially responsible for any accidents that their association is held liable for. If you own a condominium in Bradford, Vermont, make sure your personal condo insurance policy provides protection against this potential risk. The coverage to look for is loss assessment coverage.
Do I Need Homeowners or Landlord Insurance for Renting Out My Home?
When purchasing insurance for a residential building, it’s important to get the right type of insurance. If you don’t, you may one day find that your building wasn’t as well protected as you thought. If you’re getting a place in Waitsfield, Vermont, you’ll probably want either a homeowners insurance policy or a landlord insurance policy. Here’s a look at these two types of insurance.