Life Insurance

Life Insurance - An office is the primary or only premises for numerous types of small businesses insurance , including, for example, employment, travel, collection, insurance, advertising and other agencies. Electronic equipment and data are vital to the operations of most such businesses. They also have the risk of lawsuits from disgruntled clients or customers. image by google.com For many office-based businesses, the most cost effective and efficient way to obtain property and liability coverage is with a Businessowners Policy (BOP) especially tailored to business offices and, in many cases, offices for a specific industry.  Though marketed under a variety of names, these policies typically have provisions similar to the property insurance and liability insurance sections of the BOP, with the option to add various other coverages that you may need. PROPERTY INSURANCE The BOP covers real estate and other property your business owns. If your business rents or leases its premise...

Life Insurance - An office is the primary or only premises for numerous types of small businesses, including, for example, employment, travel, collection , insurance, advertising and other agencies. Electronic equipment and data are vital to the operations of most such businesses insurance . They also have the risk of lawsuits from disgruntled clients or customers. Image by : google.com For many office-based businesses, the most cost effective and efficient way to obtain property and liability coverage is with a Businessowners Policy (BOP) especially tailored to business offices and, in many cases, offices for a specific industry. Though marketed under a variety of names, these policies typically have provisions similar to the property insurance and liability insurance sections of the BOP, with the option to add various other coverages that you may need. PROPERTY INSURANCE The BOP includes as part of the basic policy two types of coverage related to electronic data. Computer Operatio...

Life Insurance - Insurers are in the unique position of having encyclopedic information about the many different ways your business property could be damaged or destroyed, from fire and flooding to embezzlement. Property is also vulnerable as a result of a variety of other events such as electrical surges, accidental activation of a chemical sprinkler system or a computer virus. Because insurers know so much about what can go wrong, they can provide your business with the insurance coverages your particular type of enterprise requires. Without appropriate insurance, property losses can easily cause the entire enterprise to fail. The purpose of property insurance for the small business is to provide critical financial assistance in the event of a loss, so that the enterprise can continue to operate with as little disruption as possible.  Other Post :  How do car insurance companies and the DMV monitor you? Property insurance alone is seldom enough, however. It should be b...

Life Insurance - Who Needs Commercial Package Insurance?   A Commercial Package Policy (CPP) gives business owners a wide range of essential property and liability coverage for the business enterprise. By combining the components of two or more individual commercial insurance policies into one flexible package, the total premium is usually less than the combined premium of the individual policies. Commercial Package Insurance Policies usually include Commercial General Liability and Commercial Property Insurance, and may also include a variety of other coverages like Commercial Vehicle, Builder's Risk, Inland Marine, Boiler and Machinery, Business Interruption, and others, depending on the specific nature of the business. A variation on this package policy for small to mid-size businesses is known as a Business Owners Policy(BOP). A BOP is similar in concept to a CPP, but usually offers less flexibility and fewer coverage options. Most BOPs only cover Commercial Property an...

Life Insurance - The Relationship Between Accidents And Insurance Claims . Your liability policy often refers to an “occurrence.” The ISO BOP (1) defines an “occurrence” as “an accident, including continuous or repeated exposure to substantially the same harmful conditions.” An accident is an event that causes injury to the body, property, person or reputation of a third party whom you did not intend to injure. (The designation “third party” means a party other than you or the insurer. It is a third party who insurance claims or sues for damages as a result of an occurrence. You are the first party and the insurer is the second.) An explosion or a car accident are each examples of an occurrence that could result in bodily injury and/or property insurance   damage The phrase “continuous or repeated exposure to substantially the same harmful conditions” in the definition of occurrence makes clear that the insurer covers situations where harm was done because of an ongoing situat...

Life Insurance - Explanation of Property Insurance And  Home Insurance .  It is impossible to foresee the disasters, but it is possible to be prepared and protected. Property insurance does not prevent risks of fire breaking out in your house or your office burglarized, but it allows for sure recovery from any disaster outlined in your insurance policy . Property insurance protects you against such risks as fire, storms, flood, earthquakes, other weather damage and theft. Consequently, we speak about specialized insurance forms covering you for different causes: fire insurance, home insurance, boiler insurance, earthquake insurance or flood insurance. Property insurance covers the costs of repairing damaged property or replacing the property you lost. There are two major ways to insure property: open perils and named perils. Open perils are meant to cover all possible causes of loss. Common exclusions are war, terrorism, floods, earthquakes and nuclear incidents....