The basics of commercial insurance.

Other than selling products or dispensing services, various responsibilities of running a business are required of the average entrepreneur. From bookkeeping, licensing to inventory management, these are all responsibilities that fall squarely on a business owner. A factor that pulls one in a variety of directions. However, things get much easier to handle when you have a commercial insurance policy that guarantees you a significant safety net when facing substantial complexities.

Before obtaining a policy, get to know the basics of commercial insurance protection. They include:

Commercial Insurance Policy Options

Regardless of industry, or the type of business, the right commercial insurance policies for your business is those which are tailored to the businesses they protect. In most instances, the best policies are founded on the foundations of general liability insurance protection. From there, a variety of coverages may be added depending on risks. These options as explained by Asset Planning Insurance Agency, LLC in Johnstown, PA include:

  • Commercial Auto Insurance – This policy covers a business, its employees, as well as the fleet of vehicles involved in an incident. Though this policy is not tied into law, it provides financial coverage against any actions against the organization involving company vehicles thus offering the best coverage for asset planning.
  • Commercial Property Insurance – This policy covers business assets in the form of inventory, equipment, buildings, as well as furnishing from potential risks that may include humanmade disasters such as theft or fire as well as natural disasters such as high winds and other weather events.
  • Interrupted/Lost Income Insurance – This policy covers businesses from unexpected events that may suspend operations by allowing business owners to meet finical obligations such as rent or payroll.
  • Directors and Officers Insurance – This coverage works best for large corporations as it protects individuals charged with decision-making obligations from litigation.
  • Errors and Omissions Insurance – This policy covers detail-oriented staff members in an instance where they may make an error or omission in any company official paperwork.

Reach out to Asset Planning Insurance Agency, LLC in Johnstown, PA to get a quote and get started on a commercial insurance policy. We are ready to answer your questions!

Summer Driving Tips


Summer’s almost here. The sun will come out of hiding, and people will, too.

As crowds swell at the beach, in parks, and even on roadways, it all makes for some challenging driving conditions. More people are out and about, whether on foot, bike, or skateboard, or by car, motorcycle, or RV, increasing the risk of an accident. And, the summer heat isn’t exactly kind to your vehicle.

Still, there’s no stopping the allure of a summer drive. To help keep yours safe, keep your attention on the road and on your surroundings, as well as on these safety tips.

Summertime Safety Behind the Wheel

Just like winter, summer has its own set of seasonal hazards that require your complete attention as a driver. Here are some to be particularly mindful of:

  • People: In your neighborhood, on city streets, in parking lots, and especially around parks, beaches, or any popular summer attraction, people are outdoors and often more focused on their enjoyment than on personal safety. Children are out of school and they might be playing in the street in a quiet neighborhood or chasing a basketball bouncing away from a driveway hoop. In summer, there is simply more human activity everywhere, and it’s up to you to slow down and stay alert.
  • Bikes and motorcycles: Bicyclists and motorcyclists are also more active in good weather. Pay attention and take extra care in areas that attract cyclists.
  • Glare: The sun’s glare is bright in summer, and even harsher when the sun is low and in your face. Have your sunglasses handy if you’re not already wearing them, and be ready to flip down the visor so you don’t spend even a second driving while blinded by the glare.
  • Roadway obstacles: A busy roadway is no place for a sofa. But, with scores of people completing summer moves, you might just encounter one. Keep an eye out for roadway obstacles and plan as far ahead as possible on how to safely maneuver around them. Thunderstorms and tropical storms can further clutter the roads with debris, tree limbs, or even downed power lines.
  • Heatstroke: Finally, don’t forget the dangers of summer parking. Children and pets left in parked cars are vulnerable to injury or even death from heatstroke. At an outside air temperature of 60 degrees, a car’s interior temperature can reach 110 degrees, which is a lethal level for children, according to the National Highway Traffic Safety Administration. Rolling down car windows does not provide sufficient cooling, so don’t be tempted to leave children or pets for even a minute. It can be lethal—and in many states illegal—to leave children and pets alone. To help keep your car cool for when you return, park in the shade or place a removable sunshade in the windshield.

Road Trip Safety

A road trip with family and friends can make a memorable summer for both the right and the wrong reasons. Make it the right reasons with some careful planning and driving. There will be plenty of time for fun once you reach the campground, resort, or cabin.

  • Inspect your ride: Have a mechanic give your car, bike, or RV a full inspection before you go. Be especially mindful of coolant and oil levels to help protect your engine, and remember that tires often deflate with significant temperature changes, such as during the transition from spring to summer. If you have a bike carrier, car carrier, or trailer attached to your vehicle, be sure everything’s secure before taking off.
  • Pack your emergency supplies: We know space is at a premium when packing for a summer road trip, but don’t neglect to include some important necessities in case of emergency. This includes water, food, maps, first aid supplies, a tire pressure gauge and tire change kit, a flashlight, towels, and jumper cables. Be sure to keep your phone charged and gas tank full in case of trouble. And, don’t forget plenty of games, books, snacks, and activities to keep the passengers distracted—and keep them from distracting you.
  • Plan your route: Map out how to reach your destination and how much time it will take to get there, and be sure to leave plenty of room for unexpected delays. Minimize those unexpected delays by checking the Department of Transportation websites of the states where you’ll be traveling for planned road work before you go.
  • Check your insurance coverage: Is your insurance ready to help out if you injure a pedestrian on your summer drive? What if you crash into a tree or run out of gas? If you’re not sure for what types of scenarios you’re covered, check in with us before heading out on your trip.
  • Take your time: Don’t get frustrated when unexpected delays—or fascinating roadside attractions—put you behind schedule. Keep to the speed limit, and don’t risk shortcuts that aren’t clearly marked. Take plenty of breaks to stretch your legs and rest your eyes while kids run off excess energy, and switch drivers when you’re drowsy.

There’s no better time to be on the road than when the sky’s clear and the sun’s shining. We wish you safe travels and a wonderful summer!

Reposted with permission from the original author, Safeco Insurance®.

Top image by Flickr user Garry Knight used under Creative Commons Attribution Generic 2.0 license. Image cropped and modified from original.

Do You Need Umbrella Insurance?


 

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One of the most certain things in life is uncertainty. Your dog could bite the neighbor’s kid. Your teen driver could hit a cyclist. A guest could fall down your stairs. A rainy morning commute on worn-out tires could result in a multi-car accident. And you could be held liable to others for the cost of damages – injuries, property destruction, emotional distress, lost wages and more.

Good thing you have insurance. But, wait, your policy covers $300,000 of liability, and, in a lawsuit, you’re judged liable for $1 million. That leaves $700,000 left to pay. How will you cover it?

If you have umbrella insurance and your policy covers the incident, the additional $700,000 will come from your policy. If not, it will come from the assets you have now, such as your home and savings, and from future assets, such as your wages or inheritance.

The fact is, it only takes one serious accident and a resulting lawsuit to put everything you own – and will own – at risk. And it only takes one umbrella policy to help protect it all.

Here are a few things you should know about umbrella insurance:

  • Personal umbrella policies typically offer between one and five million dollars of liability coverage. Consider your net worth when choosing your coverage –you could be sued for everything you have.
    •An umbrella policy is not a stand-alone policy. Your insurance carrier will typically require you to meet certain qualifications, such as having an auto policy with a certain level of liability coverage, in order to purchase umbrella insurance.
  • Even when you have umbrella insurance, your car or home insurance is your first line of defense. For example, if you are liable for $2 million in a car accident and your auto insurance covers $500,000 of liability, your auto policy covers the first $500,000. Your umbrella policy covers the remaining $1.5 million, assuming your policy covers the incident and that you purchased that much coverage. If you are liable for $250,000 in an accident on your property and your homeowners insurance covers $300,000, your umbrella policy won’t be needed.
  • If you insure a motorcycle, ATV, golf cart, snowmobile, motorhome, or watercraft, your umbrella policy may provide additional liability coverage on top of those policies as well. Be sure to check with your agent to confirm your coverage on these types of vehicles.
  • A single umbrella policy typically covers all of your family members who are residents of your household.

Essentially, an umbrella policy gives you excess liability coverage on top of what your other policies provide. If you’re at fault for a serious accident, you’ll need it.

Umbrella insurance also gives you liability coverage in instances where other policies don’t. Examples include driving in a foreign country or renting a boat.

If you’re curious about how umbrella insurance might play a role in protecting the life you’ve built or plan to build, talk to us today.

Reposted with permission from the original author, Safeco Insurance®.

Top image by Flickr user dusk-photography used under Creative Commons Attribution-Sharealike 2.0 license. Image cropped and modified from original.