Three Factors That Make Professional Liability Insurance Essential for Real Estate Agents

Three Factors That Make Professional Liability Insurance Essential for Real Estate Agents

Most real estate agents have heard that professional liability insurance is a critical type of coverage to purchase. Still, agents who have made few errors or omissions in the past may consider forgoing real estate liability insurance to reduce their professional costs. However, this can be a dangerous decision, since the following three factors often put agents at a high risk for claims.

  1. Complexity of Professional Duties – Securing necessary funding and completing real estate purchases or sales can be a lengthy, complex process. Unfortunately, agents can face claims for issues such as closing delays, which may arise for various reasons. Since ensuring that every closing goes smoothly is nearly impossible, agents can benefit from preparing for these claims through proper insurance coverage.
  2. Risk of Innocent Mistakes – Even the most meticulous and experienced agents can make mistakes. This risk increases greatly whenever agents take on work outside their usual regions or areas of specialty. Therefore, liability coverage is essential for agents who are working on growing their businesses or diversifying their work.
  3. Potential for Misconceptions – Even when agents have not made mistakes or omissions, clients may allege that this is the case. Simply proving that a claim is unfounded can be expensive, since agents may have to cover investigatory costs, pay legal fees and hire expert witnesses to testify on their behalf. Liability coverage is the most effective way to guard against these significant financial losses.

Addressing Unavoidable Risks

Given all of these threats, real estate liability insurance is easily a worthwhile investment for agents. Even if the possibility of a claim seems unlikely, the catastrophic financial consequences that could come with just one error or omission make having proper protection crucial.

Nursing Home Insurance Cost Analysis

Nursing Home Insurance Cost Analysis

To find out how much insurance coverage you need and what the premiums will be, talk to an agent from a company that specializes in assisted living facilities, skilled nursing homes, and home health care operations. Not every insurer understands the specific needs of this industry, so it’s important to do business with those that do.

Assessment of Your Needs

In order to do a nursing home insurance cost analysis, your agent will need to assess your facility. Several factors will impact the amount of your premiums, such as:

  • Whether your business transports patients and residents in a company van or car
  • Whether you have a barber or beauty shop on your premises
  • Whether you need excess liability coverage
  • Whether you own or lease your building

Protect Your Assets

Due to the aging of the population, the demand for elder care is escalating. Your business is a valuable commodity and it’s important to protect the assets of your operation. To do this:

  • Talk to an agent about your specific needs and risks.
  • Ask for a nursing home insurance cost analysis.
  • Budget for insurance premiums.

Once your agent understands your specific needs, he or she will be able to give you exact information regarding costs. Premiums will depend on multiple factors, including your location, number of residents, and deductibles selected. Your professional agent will be able to perform a nursing home insurance cost analysis and help you design a plan that works for you.

Do You Really Need Directors and Officers Liability Insurance?

Do You Really Need Directors and Officers Liability Insurance?

It is no secret that running a business takes a lot of money — especially if you are just getting started. Whether you are a CEO or other high-ranking executive, you are probably looking for ways to increase your profits while cutting costs wherever possible. As part of this process, you may start to seriously wonder if you really need directors and officer’s (D&O) liability insurance. However, before you ditch this important part of your Princeton insurance policy for good, here are a couple of things you should know.

Cost Factors

Having an active D&O insurance policy is much more affordable than the alternative. If your board of directors ends up getting sued by shareholders, for example, your legal costs could be monumental. Even if you think your company is doing everything exactly by the books, you never know when a high-ranking officer might unintentionally misstep or purposefully do something shady. When compared with potential legal costs that your business might face down the road, a monthly D&O insurance premium suddenly seems quite reasonable.

Important Coverage Options

Although general liability insurance covers many possible scenarios, it does leave some gaps that can be filled in with D&O insurance. Coverage options for D&O policies vary and may include:

  • Settlements
  • Legal fees
  • Some damages
  • Failure to comply with financial or operational regulations
  • Negligence and errors
  • Investigative costs

To get a D&O Princeton insurance policy that is an ideal fit for your business, talk to an insurance agent today.

Marine Cargo Insurance Miami

Who Needs Marine Cargo Insurance?

If you transport goods via ships or other marine methods, you should probably have marine cargo insurance in Miami. With modern technologies, it might seem like nothing will ever go wrong, but you can’t predict when a storm might damage a ship or its cargo. This can cause unforeseen delays or spoilage and proper coverage can help provide a financial cushion for your business.

What People or Entities Benefit From Coverage?

Many individuals and enterprises use cargo insurance to protect themselves from certain liabilities. These people include:

  • Marine transport companies
  • Raw materials importers and exporters
  • Manufacturers
  • Wholesalers
  • Retailers
  • Boat builders

If you make a living with marine cargo, you should consider an appropriate insurance policy.

What Are You Protecting Against?

Frankly, you name it and it can go wrong. Mostly, cargo insurance guards against the financial strain of any possible mishaps such as theft, weather damage, product or materials loss, pest infestations, pirates and/or customs hold ups. Depending on where you are traveling, you may be more or less at risk for certain situations.

If you participate in the marine cargo business, marine cargo insurance in Miami can save you a fortune in the future. You can’t predict what might go wrong, but you can guard against it. Protect yourself and your business with the proper coverage to make you a competitive force for years to come.

Miscellaneous Professional Liability

The Benefits of Having Liability Insurance

You want to be prepared for unfortunate situations, no matter what your profession is or what type of business you operate. Keeping yourself, your company, and your employees protected is an important aspect of running a successful business. In order to save yourself from lawsuits and other claims you’ll need miscellaneous professional liability insurance.

Key Aspects of a Good Liability Plan

Safeguarding your business from those who may wish to tear you down is crucial in this day and age. While each individual company has specific needs that need to be addressed, there are certain features of miscellaneous professional liability plans that should be present in the one you choose. These are some examples of what your insurance should cover:

There are several other coverage options you might want depending on your needs, including cyber exposure, subpoena expenses, media liability, network security, and more.

Get Yourself Covered

It’s important to take the necessary steps to get miscellaneous professional liability insurance. Working with a professional team of consultants who will tailor liability coverage to your specific requirements will put your mind at ease. The business world is unpredictable and comes with many ups and downs. Bolster yourself against lawsuits and claims. Do what’s right for your business and invest in the proper liability insurance coverage you need today.

Maritime Insurance

Why You Need Marine Insurance

If you own a business that provides consumers with boats, yachts, ships, or you’re a manufacturer of marine parts and accessories, you’ll need to find maritime insurance. Operating a company without the proper coverage to protect you and your customers is unwise. Whether you’re just starting out or have been in business for some time, you can benefit from partnering with a trusted marine insurance provider.

Types of Coverage

There are multiple options to choose from when it comes to maritime insurance. It is a multifaceted world that depends on the type of what products you sell, the size of your business, and who your clientele is. Your partnership with a professional insurance provider should be tailored to meet your particular needs. Some of the types of coverage you can offer your customers are:

  • Property insurance
  • Liability insurance
  • Workers compensation

The details depend on you and your customers’ needs. When you work with a professional agency you’ll be able to find the right plans to offer.

Be Smart

Owning and operating a maritime business is no simple task. You need to make sure that you have the proper maritime insurance ready to provide your customers with. If your customers aren’t covered, they could experience tremendous losses and it could all come back to you. Ensure that your business is as professional and prepared as possible.

Professional Liability Financial Institutions

Litigation Trends for Financial Institutions

Norton Rose Fulbright recently released their 2015 Litigation Trends Annual Survey. It is the 11th survey in their history, and it polls more than 800 companies that represent companies across 26 countries. Based on their findings, class action lawsuits are one of the top litigation issues that all industries are facing right now. This is a good time to review your professional liability financial institutions insurance because when youre dealing with other peoples money, they arent very forgiving.

The United States had 80 percent of the class action suits reported, and whats even more startling is that 71 percent of those involved with a class action suit had more than one filed against them. The respondents in the survey expect the legal issues in every industry to become more complex. Although regulatory matters were generally handled by in-house counsel for larger organizations, 44 percent of the companies required outside legal assistance. While the respondents were global companies that probably had larger assets to draw from, these trends will also affect small businesses.

Professional liability financial institutions insurance is your peace of mind that your business wont be devastated by a lawsuit. Review your insurance with your agent to make sure you have adequate coverage for the upcoming year. Make sure you have policies in place to prevent errors and issues that your industry faces. As society becomes more litigious, you cant let your guard down.

Home Healthcare Insurance

Insurance for Home Healthcare Providers

Being able to provide healthcare to people in their homes is an incredibly rewarding experience. Home healthcare is ideal for both the elderly and the chronically ill who prefer to be treated in the comfort of their own home. However, people providing this type of healthcare can become subject to many liabilities on the job. That is why home healthcare insurance is a great thing for anyone who works in this industry.

Professional Liability Insurance

Professional liability insurance is a necessity for many professions, including home healthcare provider. This type of insurance covers any monetary damages incurred should you make a mistake that injures your client in some way, either physically or monetarily. This type of home healthcare insurance is only one of many types of insurance, including workers compensation, to help in-home healthcare providers.

Plans Tailored to This Profession

Some insurance companies offer plans that are tailored to this specific profession. Sure, you could purchase a plan designed for a typical medical career, but it wouldn’t cover all of what your position entails. Having the exact coverage you need in order to remain safe and comfortable in your position can mean all the difference.

Providing in-home healthcare is a caring and generous act. Home healthcare insurance allows you to care for yourself in the event of an accident or incident. With this insurance, you won’t have to worry about losing your career because of one unfortunate mistake.

Local Protection for Local Businesses

Local Protection for Local Businesses

Finding a reliable provider of professional liability insurance is important for any business that is working to get established. Of course, you need protection like this before you get going and run into issues that can stop a business in its tracks. You don’t want to be caught out with no insurance protecting you. Finding good local Pennsylvania professional liability insurance can be easy with just a bit of searching, when you know what you are looking for.

Many potential clients want to ally themselves with a company that is established and has several years of experience already. They may have a good reputation in the community, so it can be wise to ask around to friends and neighbors for their recommendations. You can also ask for their opinions on a certain provider if you are already looking at something. Having this insurance is necessary because it protects against something that is impossible to avoid; human error. Mistakes are inevitable, and it is important to realize this and have safeguards in place for when something does happen.

Whether the advice you gave was wrong or the service you provided failed in the end, Pennsylvania professional liability can be there to protect you. A good policy will cover the expenses involved if charges should be brought against you. This will keep the incident from becoming a bigger setback than it may already be. Prepare your business for the world and prime it for success with the protection it deserves.

Benefits of Finding Full Service Car Insurance in Tennessee

Benefits of Finding Full Service Car Insurance in Tennessee

Many drivers in Tennessee are finding great deals on their auto insurance online, or at least, they’re getting great deals on the bottom-line rate. Even the best direct insurance provider is offering their product with a few trade-offs, though, and for many consumers, the services and features offered by a local agent make it worthwhile to keep things local when you shop for car insurance in Tennessee.

Custom Coverage

All car insurance packages include a few basic options, like collision vs. comprehensive coverage, medical, and so forth. When you shop with a local agent, though, you have the ability to request coverage amounts and balances that are more precisely calibrated to the reality of your driving environment, whereas direct insurance options tend to offer a one-size-fits all approach to services.

Customer Service

There are three major ways that your customer service will be enhanced when you work with a local agent:

  1. You know your agent is nearby when you have claims or concerns.
  2. You have the opportunity to build a lasting relationship, instead of interacting with a new customer service agent each time.
  3. Your agent is your agent. An independent insurance agent serves you by matching your needs to different providers, so they negotiate on your behalf to get you the best price.

Don’t miss out on your chance to work with an independent agent the next time you are shopping for car insurance in Tennessee.