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When Is Commercial Auto Insurance Required?
Operating a business can be stressful—as a business owner, you have a lot to be responsible for, whether it be the daily business operations or protecting your business from financial loss. One way you can safeguard your business is by purchasing commercial auto insurance, which is a crucial form of insurance for business owners who use vehicles as part of their daily operations
Read MoreWhat Flood Insurance Does Not Cover
Did you know that damage caused by floods is typically not covered under most standard homeowners insurance policies? In fact, if you reside in an area with a high risk of flooding, your mortgage lender will likely require you to purchase flood insurance through FEMA’s National Flood Insurance Program (NFIP) and associated programs provided by your insurance professional. However, it’s worth noting that over 20% of flood insurance claims come from areas that are not considered high-risk for flooding, which is why it’s recommended that homeowners consider obtaining coverage regardless of their location.
Read MoreCar Insurance 101: Terms You Need to Know
In 2019, over half of the 12.15 million vehicles involved in collisions in the U.S. were passenger cars. When it comes to car insurance, it can be overwhelming to find the right policy to suit your needs, as there are many different terms to get familiar with. In this article, we’ll review 10 important terms you should know before signing up for a car insurance policy.
Read MoreMastering the Fundamentals: Understanding the Four Concepts of Effective Risk Management
Understanding the four core concepts is crucial for effective risk management, which is a critical component of any organization’s success. These include identifying, evaluating, prioritizing, and controlling risks. These steps support businesses in locating potential risks, evaluating their effects, prioritizing their efforts, and taking the necessary measures to mitigate them. Understanding these ideas can help safeguard an organization’s assets.
Read MoreWhy Is Life Insurance Important for the Self-Employed?
You may not realize it, but life insurance is an important part of being self-employed. Without it, your death could result in more than just the emotional toll it will take on those left behind. Here are a few reasons you should consider buying a policy.
Read MoreTop Tips to Protect Your Business from Common Liability Risks
Running a business comes with its own risks. Read on to learn how you can protect your business from the liabilities that may arise from such risks.
Read More4 Examples of Commercial Risk
When running a business, risk is one of those words that you simply cannot avoid. Not understanding the risk you face in your business could be preventing you from acquiring that sizable contract or that ideal client. There are all sorts of risks that businesses take on and understanding them is vital for any business owner. In this article, we’ll look at some of the most typical business risks and how you can protect your company from them.
Read MoreLiability Insurance: What It Is and How It Works?
Choosing an appropriate insurance policy for your business from the sea of options available can be quite overwhelming. Identifying the significant risks your company might face and deciding on the right policies requires diligence. Taking care of liabilities and associated risks is also an essential part of protecting your business. Liability is a term that means duty, obligation, or responsibility. It grows with the business, and depending on the type of business; you will need different insurance policies.
Read MoreWorkers’ Compensation Insurance: A Guide
Occupational hazards include accidents that happen on the job. Even when an employer has strict safety regulations and training programs, accidents sometimes occur on the job site. Workers’ compensation comes into play when an injury happens at your place of business. Continue reading to learn more about workers’ compensation insurance and how it works.
Read MoreTelematics and Big Data: How They’re Shaping the Future of Auto Insurance
The Digital Evolution of Auto Insurance The auto insurance industry is undergoing a major transformation, driven by the rise of telematics and big data. Traditional rating models based on age, location, and driving history are giving way to personalized, data-driven policies. With more connected vehicles on the road, insurers now have access to real-time insights…
Read MoreHow Commercial Risk Management Shields Businesses from Emerging Threats
The Rising Tide of Business Threats in a Rapidly Evolving World Today’s businesses face a landscape filled with evolving threats that go far beyond traditional risks like fire or theft. From cyberattacks and supply chain disruptions to regulatory changes and reputational hazards, the modern enterprise must contend with a range of vulnerabilities that can severely…
Read MoreUnderstanding Coverage Limits in Commercial Property Insurance
Having a commercial property insurance policy is a smart step toward safeguarding your business, but understanding how that policy works is even more important. One of the most misunderstood elements of commercial property coverage is the concept of limits. These limits define the maximum amount your insurer will pay for a covered loss, and if…
Read MoreHow to Avoid Costly Garage Liability Insurance Claims
Garage liability insurance plays an important role in helping powersports dealerships manage third-party claim risks. Dealerships that take active steps to reduce risk not only minimize potential losses but also maintain lower premiums and enhance their operational resilience. Understanding Common Claim Triggers At the core of many garage liability claims are incidents that occur during…
Read MoreGarage Liability and Garage Keepers’ Liability for Powersports Dealerships
Powersports dealerships are hubs of commerce, where potential buyers interact with inventory, test-ride vehicles, and engage with sales staff. The dynamic environment in the showroom presents a unique set of risks. One unexpected accident, a slip on the showroom floor, or a damaged customer vehicle can lead to significant financial losses or legal trouble. That’s…
Read MoreTop Risks Covered by Property Insurance for Commercial Buildings
Commercial properties face many physical risks, from fire and theft to storm damage and water leaks. Whether you run a small retail shop, operate a large warehouse, or manage office spaces, protecting your physical assets is a critical part of running a business. This is where commercial property insurance plays a key role in helping…
Read MoreFrom Showroom to Advocacy: Navigating the Powersports Commercial Insurance Landscape
The powersports industry is an exciting and fast-paced business, where dealerships provide customers with high-performance motorcycles, ATVs, and other vehicles. However, beyond the thrill of sales and service, there is an integral aspect that dealers must prioritize—risk management. Commercial insurance is not just a regulatory requirement; it can play an important role in helping protect…
Read MoreProtecting Your Investment with the Right Dump Truck Insurance
Dump trucks are important assets that drive business in construction, hauling, and waste management. Whether you own one truck or a small fleet, these trucks represent a significant investment that needs protection. The right dump truck insurance policy isn’t just about covering damage or loss, it’s designed to help support compliance and business continuity. Let’s…
Read MoreTop 5 Risk Management Issues for Dealers
Running a successful powersports dealership comes with exciting opportunities—but also significant risks. From property damage to digital threats, dealers face many challenges that can jeopardize their financial stability and reputation. Ignoring these risks can lead to costly setbacks, but with proper planning, they can be managed effectively. Let’s explore the top five risk management issues…
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